Chinese IC design company Injoinic was listed on Shanghai’s Sci-Tech Innovation Board (STAR Market) on Tuesday. Its main business is power management and fast charging protocol chips, with an issue price of 24.23 yuan ($3.8) per share. As of 10:00 a.m. on Tuesday, its share price was 22.31 yuan per share, a decrease of 7.92%, with a total market value of 9.3 billion yuan ($1.46 billion).
Founded in 2014, Injoinic is currently one of the major chip suppliers for the Chinese mobile phone power bank and fast-charging adapter industries. According to its prospectus, from 2018 to the first half of 2021, its chip sales reached 1.728 billion. During the period, most of its major customers were distributors. The company’s end brand users include well-known brands such as Xiaomi, OPPO, vivo, Samsung and Bosch.
Through this IPO, Injoinic plans to raise 400 million yuan, which will reportedly be used for power management chip development and production, fast-charging chip development, and to supplement general working capital.
Power management chips control transformation, distribution, detection and other functions for the required power in electronic equipment systems. It is the power supply center and link of all electronic products and equipment, and is an indispensable chip product in the fields of consumer electronics, automotive electronics and the new energy industry.
The power management chip of Injoinic is mainly a digital-analog hybrid SoC. It adopts a single digital-analog hybrid SoC chip, which can replace the functions realized by traditional multiple digital and analog chips.
In terms of fast charging protocol chips, Injoinic’s products have been authorized by mainstream platforms such as Qualcomm, MediaTek, Spreadtrum, Huawei, Samsung, OPPO, Xiaomi and vivo. Its products support all five types of fast charging protocols for domestic communication devices. The firm is also the first chip manufacturer to have passed Qualcomm’s QC5.0 certification.
By the end of June 2021, Injoinic had 158 employees responsible for R&D and design, accounting for 61.48% of the whole team. It has obtained 79 domestic patents, including 49 invention patents and 30 utility model patents. The firm also possesses 115 registration certificates for the layout design of integrated circuits and 11 copyrights for computer software.