IPO Timeline
Broker Deadline
2025-12-03
Morning deadline
HKEX Deadline
2025-12-03
Noon deadline
Broker Results (T-2)
2025-12-04
Some brokers release in afternoon
Grey Market (T-1)
2025-12-05
Afternoon
HKEX Allotment (T-1)
2025-12-05
Evening
Registrar Allotment (T-1)
2025-12-05
Evening
Listing Day (T)
2025-12-08
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shanghai (SSE) — 纳芯微 |
|---|---|
| Other Market Stock Code | 688052 |
| H-Share Offer Price | HK$ 116.00 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | 纳芯微 |
|---|---|
| Stock Code | 02676 |
| Company Full Name | 纳芯微 |
| Industry | Information Technology |
| Principal Activities | 我們是中國模擬芯片提供商。作為一家fabless公司，我們圍繞(i)汽車電子、(ii)泛能源及(iii)消費電子等應用領域，提供豐富、高性能、高可靠性的產品及解決方案。我們的傳感器產品、信號鏈芯片和電源管理芯片三大品類共同構成了從(i)感知、(ii)信號處理到(iii)系統供電及功率驅動的完整系統鏈路。 |
| Listing Date | 2025-12-08 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國 江蘇省 蘇州工業園區 東蕩田巷9號 |
| Business Address (Hong Kong) | 香港 灣仔 皇后大道東248號 大新金融中心40樓 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | novosns.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 116.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 11,600 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2025-11-28 to 2025-12-03 |
| Global Offering Shares | 19,068,400 shares |
| HK Public Offer Shares (Initial) | 1,906,900 shares (10.0%) |
| Public Offer Lots (Initial) | 19,069lots (9,534lots, 9,535lots) |
| International Placing Shares (Initial) | 17,161,500 shares (90.0%) |
| Offer Ratio | ~11.8% |
| Total Shares Post-IPO | 161,596,833 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 0% |
| Clawback Tiers | 机制B-无回补 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 2,211,934,400 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 11,600 |
| 2 lots | 200 | HK$ 23,200 |
| 3 lots | 300 | HK$ 34,800 |
| 4 lots | 400 | HK$ 46,400 |
| 5 lots | 500 | HK$ 58,000 |
| 6 lots | 600 | HK$ 69,600 |
| 7 lots | 700 | HK$ 81,200 |
| 8 lots | 800 | HK$ 92,800 |
| 9 lots | 900 | HK$ 104,400 |
| 10 lots | 1,000 | HK$ 116,000 |
| 15 lots | 1,500 | HK$ 174,000 |
| 20 lots | 2,000 | HK$ 232,000 |
| 25 lots | 2,500 | HK$ 290,000 |
| 30 lots | 3,000 | HK$ 348,000 |
| 35 lots | 3,500 | HK$ 406,000 |
| 40 lots | 4,000 | HK$ 464,000 |
| 45 lots | 4,500 | HK$ 522,000 |
| 50 lots | 5,000 | HK$ 580,000 |
| 60 lots | 6,000 | HK$ 696,000 |
| 70 lots | 7,000 | HK$ 812,000 |
| 80 lots | 8,000 | HK$ 928,000 |
| 90 lots | 9,000 | HK$ 1,044,000 |
| 100 lots | 10,000 | HK$ 1,160,000 |
| 200 lots | 20,000 | HK$ 2,320,000 |
| 300 lots | 30,000 | HK$ 3,480,000 |
| 400 lots | 40,000 | HK$ 4,640,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 500 lots | 50,000 | HK$ 5,800,000 |
| 600 lots | 60,000 | HK$ 6,960,000 |
| 700 lots | 70,000 | HK$ 8,120,000 |
| 800 lots | 80,000 | HK$ 9,280,000 |
| 900 lots | 90,000 | HK$ 10,440,000 |
| 1,000 lots | 100,000 | HK$ 11,600,000 |
| 1,500 lots | 150,000 | HK$ 17,400,000 |
| 2,000 lots | 200,000 | HK$ 23,200,000 |
| 2,500 lots | 250,000 | HK$ 29,000,000 |
| 3,000 lots | 300,000 | HK$ 34,800,000 |
| 4,000 lots | 400,000 | HK$ 46,400,000 |
| 5,000 lots | 500,000 | HK$ 58,000,000 |
| 6,000 lots | 600,000 | HK$ 69,600,000 |
| 8,000 lots | 800,000 | HK$ 92,800,000 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 18,745,232,628 |
|---|---|
| Pre-IPO Valuation (Last Round) | To be extracted |
| P/E Ratio | 不適用（公司處於虧損狀態） |
| Profit/Loss Status | 虧損人民幣402.9百萬元 |
| Period-End Cash Balance | 人民币486,600,000元 |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | ~5.2% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 111.0 |
|---|---|
| First Day Open | HK$ 116.0 |
| First Day Change | -4.31% |
| First Day Volume | 2014580.0 |
| First Day Turnover | 221531000.0 |
Use of Proceeds
| Use of Proceeds | 1、約18%或387.0百萬港元（相當于約人民幣352.3百萬元）預計將用于提升我們的底層技術能力及工藝平臺； 2、約22%或457.3百萬港元（相當于約人民幣416.2百萬元）預計將用于進一步豐富我們的產品組合，重點擴大汽車電子應用中的產品； 3、約25%或518.4百萬港元（相當于約人民幣471.9百萬元）預計將用于擴展我們的海外銷售網絡及于海外市場推廣我們的產品； 4、約25%或524.1百萬港元（相當于約人民幣477.1百萬元）預計將用于戰略投資及/或收購； 5、約10%或209.6百萬港元（相當于約人民幣190.8百萬元）預計將用于營運資金及一般企業用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (3)
中国国际金融香港证券有限公司 CE AEN894
中信证券（香港）有限公司 CE AAK249
建银国际金融有限公司 CE AJO225
Sponsor cum Overall Coordinator (3)
中国国际金融香港证券有限公司 CE AEN894
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
Overall Coordinators (3)
中国国际金融香港证券有限公司 CE AEN894
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
Joint Global Coordinators (3)
中国国际金融香港证券有限公司 CE AEN894
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
Joint Bookrunners (9)
中国国际金融香港证券有限公司 CE AEN894
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
农银国际融资有限公司 CE AWL249
东吴证券国际经纪有限公司 CE AYA587
浙商国际金融控股有限公司 CE BGD825
东方证券（香港）有限公司 CE AVD362
贝塔国际证券有限公司 CE ABN652
一盈证券有限公司 CE BJB315
Joint Lead Managers (9)
中国国际金融香港证券有限公司 CE AEN894
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
农银国际证券有限公司 CE ACX411
东吴证券国际经纪有限公司 CE AYA587
浙商国际金融控股有限公司 CE BGD825
东方证券（香港）有限公司 CE AVD362
贝塔国际证券有限公司 CE ABN652
一盈证券有限公司 CE BJB315
Capital Market Intermediaries (10)
中国国际金融香港证券有限公司 CE AEN894
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
农银国际融资有限公司 CE AWL249
农银国际证券有限公司 CE ACX411
东吴证券国际经纪有限公司 CE AYA587
浙商国际金融控股有限公司 CE BGD825
东方证券（香港）有限公司 CE AVD362
贝塔国际证券有限公司 CE ABN652
一盈证券有限公司 CE BJB315
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
普衡律师事务所（香港）有限法律责任合伙 嘉源律师事务所 |
| Legal Advisor to Sponsors/Underwriters | 天元律师事务所 |
| Auditor and Reporting Accountant | 毕马威会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks |
中国工商银行（亚洲）有限公司 中信银行（国际）有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 元禾纳芯国际有限公司 | — | — | — | — | 6 months | 2026-06-08 |
| 2 | 区集成电路产业投资发展有限公司 | — | — | — | — | 6 months | 2026-06-08 |
| 3 | 香港好易得国际有限公司 | — | — | — | — | 6 months | 2026-06-08 |
Directors & Management
| Chairman | 王升楊 |
|---|---|
| Company Secretary | 王一飛 |
執行董事 (4)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 王升杨 | — | 執行董事 |
| 2 | 盛云 | — | 執行董事 |
| 3 | 王一峰 | — | 執行董事 |
| 4 | 姜超尚 | — | 執行董事 |
非執行董事 (1)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 吴杰 | — | 非執行董事 |
獨立非執行董事 (4)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 洪志良 | — | 獨立非執行董事 |
| 2 | 陈西婵 | — | 獨立非執行董事 |
| 3 | 王如伟 | — | 獨立非執行董事 |
| 4 | 杜琳琳 | — | 獨立非執行董事 |
Major Shareholders
| Major Shareholders & Holdings | 王升楊先生、盛雲先生及王一峰先生為單一最大股東集團，合計持有44,336,080股A股，佔緊隨全球發售完成後（假設超額配股權未獲行使）已發行股本總額約27.44%。 |
|---|
AI
AI Analysis
Market Sentiment
纳芯微 IPO garnered an oversubscription of 25.33 times with a hit rate of 21.98%, indicating solid but not overwhelming demand for this semiconductor stock. Reallocation was triggered, reflecting decent retail enthusiasm, though the absence of a disclosed price range limits pricing insight. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
Tier distribution data is unavailable as lot size was not provided, preventing analysis of 甲尾 and 乙头 dynamics or broker fee efficiency. Investors should refer to official prospectus for detailed allocation tables. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Demographic data is not available in the provided dataset, so no analysis of mainland participation, gender, age, or regional concentration can be performed. Typically, semiconductor IPOs attract diverse investor bases. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Offering Structure
Subscription Tiers
IPO Timeline
