New IPO progress of LED-related companies Ruiyuan Technology and Kaiweite

Recently, there have been new developments in the IPO of two LED-related companies. LEDinside summarized it as follows:

Ruiyuan Technology GEM IPO passed the meeting

On August 9, the Shenzhen Stock Exchange GEM IPO of Chengdu Ruiyuan Semiconductor Technology Co., Ltd. (hereinafter referred to as "Ruiyuan Technology") was approved by the Listing Committee meeting, and the sponsor was CICC.

According to the prospectus, the amount of funds raised by Ruiyuan Technology from this listing reached 1.5 billion yuan, which was mainly used for power management chip upgrade and industrialization projects, R&D center construction projects, packaging and testing center construction projects, and supplementary working capital.

According to the prospectus, Ruiyuan Technology specializes in the research and development, design, packaging, testing and sales of power management chips. It is a well-known independent brand power management chip company in niche fields. The company's products are mainly DC-DC chips, but also cover multiple series of power management chips such as protection chips, charging management chips, LDO chips, and LED driver chips. Among them, the company's DC-DC chips have entered the supply chain systems of many high-quality end customers.

As of the end of the reporting period, the company had nearly 1,600 chip models for sale, including more than 460 DC-DC chips, which support multiple voltage and current conversions, multiple switching frequencies, multiple functional modes, and multiple packaging forms. They can be widely used in network communications, security monitoring, smart power, consumer electronics, smart lighting, industrial control, medical instruments, automotive electronics and many other fields. In 2022, the company's total chip sales will reach 1.394 billion, of which total DC-DC chip sales will reach 1.169 billion.

In terms of performance, from 2020 to 2022, Ruiyuan Technology achieved operating income of approximately 119 million yuan, 326 million yuan, and 298 million yuan respectively; realized net profits of 8.2428 million yuan, 93.7443 million yuan, and 68.1248 million yuan respectively.

Kaiwit is about to be listed on the Science and Technology Innovation Board

On August 7, Suzhou Kaiwit Semiconductor Co., Ltd. (hereinafter referred to as "Kaiwit") held an online investor exchange meeting for its initial public offering and listing on the Science and Technology Innovation Board.

According to the prospectus, Kaiwit’s IPO plans to raise approximately 530 million yuan to invest in the construction of smart power semiconductor R&D and upgrade projects, SiC power device R&D and upgrade projects, and power semiconductor R&D engineering center upgrade projects, as well as to supplement working capital.

According to the prospectus information, Kaiwit's main business is the design, research and development and sales of power semiconductors, and provides related technical services. Its main products include power devices and power ICs.

In terms of power devices, Kaiwit's products are mainly high-voltage and ultra-high-voltage planar MOSFETs, and it designs and develops integrated fast recovery high-voltage power MOSFE (FRMOS) series products based on the planar MOSFET process platform. In terms of power ICs, Kaiwit's products mainly include PWM control ICs and gate drive ICs. In addition, in terms of third-generation semiconductors, the company's SiC power devices have successfully implemented product layout and entered the industrialization stage.

Kaiwit products are widely used in the consumer electronics field represented by LED lighting, adapters, and smart home appliances, as well as in the industrial control field represented by industrial power supplies, security equipment, and motor drives. Customers include chip design companies represented by Jingfeng Mingyuan, BiMicro, Xinpengwei, and Canrui Technology, as well as many customers in high-reliability fields. The products have been adopted by end customers such as Xiaomi, Midea, NVC Lighting, and Foshan Lighting.

In terms of performance, from 2020 to 2022, Kaiwit achieved operating income of 137 million yuan, 210 million yuan, and 235 million yuan respectively; net profits attributable to the parent were -19.6686 million yuan, 48.4772 million yuan, and 61.1135 million yuan.

It is worth mentioning that the performance of Kaiwit's power IC business segment in the first half of 2022 is very impressive, with the revenue share of power IC products increasing from 5.76% in 2021 to 24.39% in the first half of 2022.