Integrated circuit design company Nsing Tech soared 7% in Hong Kong’s grey market trading. The shares are set to make their Hong Kong trading debut on March 23.
Founded in 2000, Nsing makes control chips for smart devices, including microcontrollers (MCUs), security chips, RF chips and battery management chips used for consumer electronics, industrial control and automotive applications. It also produces lithium battery anode materials for electric vehicles and energy storage.
The company ranked among the top five Chinese companies in the global platform MCU market and was the largest in China’s MCU market with built-in commercial cryptographic algorithms, according to its prospectus. It reported revenue of 960 million yuan in the first nine months of last year, up 16.7% year-on-year, while its net loss narrowed 54.4% over that time to 75.75 million yuan.
The company said about half of the IPO proceeds will be used for R&D, including development of high-performance MCUs and automotive-grade chips, while the rest will fund product upgrades, strategic investments and debt repayment.
Online DTC networking solutions provider FS.com soared 81% in Hong Kong’s grey market trading. The shares are set to make their Hong Kong trading debut on March 23.
FS.com offers one-stop networking solutions, including high-performance network equipment and scalable network device operations systems, alongside cloud-based network management platforms. Its clientele spans the information technology, financial services, healthcare, education, automotive and electronics sectors.
The company reported revenue of 2.18 billion yuan in the first nine months of last year, up 11.3% from the year-ago period. Its profit during the period totaled 423 million yuan, up 20.6% year-on-year.
