【China's Storage Unicorn Shenzhen Hongxin Microelectronics Files for IPO on HKEX】

According to documents from the Hong Kong Stock Exchange, China's storage unicorn Shenzhen Hongxin Microelectronics Co., Ltd. has submitted an application for listing on the HKEX, with CSC Financial International acting as the sole sponsor. The proposed fundraising will be used for product development, controller chip iteration, and capacity expansion. Shenzhen Hongxin Microelectronics Co., Ltd. (referred to as Hongxin Microelectronics), founded in 2018, is a rapidly emerging Chinese domestic independent memory manufacturer that has ranked as the fifth largest globally and the second largest in mainland China. Its main products include embedded storage (eMMC/UFS), solid-state drives (SSD), mobile storage, and DRAM modules, which are widely used in consumer electronics, automotive electronics, AI/data centers, and other fields. The products have entered the supply chains of Xiaomi, OPPO, vivo, TCL, etc., and have obtained automotive-grade certifications. After the Series D financing in 2023, the post-investment valuation was approximately 10.8 billion yuan, with investors including TCL, Ting Hsin Group, etc.