On Friday, NOVOSENSE Microelectronics, a chip developer, went public on the Shanghai Sci-Tech Innovation Board (STAR Market) with an issue price of 230 yuan ($35.4) per share. The company plans to raise 750 million yuan which will be used for its signal chain chip research, R&D center construction and supplementary working capital.
NOVOSENSE was established in May 2013 and its main product line consists of a variety of chipsets that are used for signal sensing, isolation and interfaces, driving as well as sampling, among other uses. Its chips that comply with vehicle standards have been loaded in batches into vehicles manufactured by BYD, Great Wall Motors, FAW Group, CATL and others.
NOVOSENSE spent 11 months preparing its public listing debut, beginning last May when its listing application had been accepted. Wang Shengyang, Chairman and General Manager of NOVOSENSE, Sheng Yun, Deputy General Manager and Head of R&D, and Wang Yifeng, Deputy General Manager, are the controlling shareholders of the company. In addition, the Hubei Xiaomi Changjiang Industrial Investment Fund Partnership and an investment company owned by SMIC all hold NOVOSENSE’s shares.
From 2018 to the first half of 2021, the company’s revenues were 40.2233 million yuan, 92.1032 million yuan, 242 million yuan and 341 million yuan respectively, with a compound annual growth rate of 145.28%. With the growth of revenue, its net profit also increased from 2.3 million yuan in 2018 to nearly 90 million yuan in the first half of 2021.
Overall, NOVOSENSE’s revenue in consumer electronics appears to be decreasing while its revenue in information and communication and industrial controlling is gradually increasing.