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joined discussion · Mar 23 13:29

[IPO Tracker] Leader in the niche semiconductor sector goes public in Hong Kong, Fourier (03625.HK) launches its IPO subscription

Along with $MONTAGE TECH (06809.HK)$ 、 $AXERA (00600.HK)$ and other semiconductor companies going public one after another, the 'tech quotient' of the Hong Kong stock market continues to soar. On March 23, another semiconductor company specializing in audio chips and haptic feedback chips —— $FOURSEMI (03625.HK)$ has kicked off its Hong Kong stock IPO subscription! According to the announcement,Fourier plans to globally offer 12 million H-shares under the 18C mechanism.Among them, 600,000 shares will be offered for public subscription in Hong Kong, accounting for about 5%, while 11.4 million shares will be offered internationally, accounting for approximately 95%. Additionally, there is a 15% over-allotment option. The offering price is set between HKD 40.00 and 50.00 per share. Assuming the midpoint of the pricing range at HKD 45.00, the estimated net proceeds from the offering are approximately HKD 480 million.Of this amount, approximately 46.8% will be used to establish a new research and development center to enhance the R&D capabilities and technological competitiveness of amplifier audio chips; around 17.8% will be allocated for purchasing automatic testing equipment and building internal automated test verification lines, as well as recruiting supply chain management engineers; roughly 17.3% will be utilized for seeking strategic acquisitions and partnerships; about 8.1% will go towards marketing and sales of products; and 10.0% will be assigned to working capital and general corporate purposes. Fourier's initial public offering (IPO) subscription period runs from March 23 to March 26, with an expected listing date of March 31,with a minimum lot size of 100 shares and an estimated entry fee of approximately HKD 5,050.43. Fourier half...
Accompanied by $MONTAGE TECH (06809.HK)$ 、 $AXERA (00600.HK)$ the successive listings of semiconductor companies like , the 'technology quotient' of the Hong Kong stock market continues to soar.
And on March 23, yet another semiconductor company primarily engaged in audio chips and haptic feedback chips - $FOURSEMI (03625.HK)$ has kicked off its Hong Kong stock offering!
According to the announcement,Fourier plans to globally offer 12 million H-shares, issued under the 18C mechanism.Among these, 600,000 shares will be available for public offering in Hong Kong, accounting for about 5%, while 11.4 million shares are earmarked for international distribution, representing around 95%. An additional 15% over-allotment option is also included.
The issue price is set between HKD 40.00 and HKD 50.00 per share. Assuming the mid-point value of HKD 45.00, the expected net proceeds from the fundraising are projected to be approximately HKD 480 million.Of this, approximately 46.8% will be used to establish a new research and development center to enhance the R&D capabilities and technological competitiveness of amplifier audio chips; around 17.8% will be allocated for the procurement of automatic testing equipment and the construction of an internal automatic testing verification line, as well as the recruitment of supply chain management engineers; about 17.3% will be used to pursue strategic acquisitions and partnerships; roughly 8.1% will go towards marketing and sales of products; and approximately 10.0% will be assigned to working capital and general corporate purposes.
Fourier's initial public offering period runs from March 23 to March 26, with an expected listing on March 31.Each lot consists of 100 shares, with an entry fee of approximately HKD 5,050.43.
Along with $MONTAGE TECH (06809.HK)$ 、 $AXERA (00600.HK)$ and other semiconductor companies going public one after another, the 'tech quotient' of the Hong Kong stock market continues to soar. On March 23, another semiconductor company specializing in audio chips and haptic feedback chips —— $FOURSEMI (03625.HK)$ has kicked off its Hong Kong stock IPO subscription! According to the announcement,Fourier plans to globally offer 12 million H-shares under the 18C mechanism.Among them, 600,000 shares will be offered for public subscription in Hong Kong, accounting for about 5%, while 11.4 million shares will be offered internationally, accounting for approximately 95%. Additionally, there is a 15% over-allotment option. The offering price is set between HKD 40.00 and 50.00 per share. Assuming the midpoint of the pricing range at HKD 45.00, the estimated net proceeds from the offering are approximately HKD 480 million.Of this amount, approximately 46.8% will be used to establish a new research and development center to enhance the R&D capabilities and technological competitiveness of amplifier audio chips; around 17.8% will be allocated for purchasing automatic testing equipment and building internal automated test verification lines, as well as recruiting supply chain management engineers; roughly 17.3% will be utilized for seeking strategic acquisitions and partnerships; about 8.1% will go towards marketing and sales of products; and 10.0% will be assigned to working capital and general corporate purposes. Fourier's initial public offering (IPO) subscription period runs from March 23 to March 26, with an expected listing date of March 31,with a minimum lot size of 100 shares and an estimated entry fee of approximately HKD 5,050.43. Fourier half...
Fourier Semiconductor is a typical fabless chip design company domestically, focusing its main business on the research, design, and sales of low-power audio chips, medium-to-high power audio chips, and haptic feedback chips. Its products are widely used in smartphones, tablets, smart wearables, smart screens, and smart vehicles.
In its niche market, Fourier Semiconductor has performed notably. According to a Frost & Sullivan report, based on 2024 revenue, Fourier Semiconductor ranks (1) fourth among global power amplifier audio chip suppliers, (2) third among Chinese power amplifier audio chip suppliers, and (3) fifth among Chinese haptic feedback chip suppliers.
In terms of financial performance, Fourier’s revenue for 2022 to 2024 and the first ten months of 2025 was RMB 130 million, RMB 150 million, RMB 355 million, and RMB 281 million, respectively. The adjusted net losses were RMB -58.078 million, RMB -86.287 million, RMB -49.001 million, and RMB -33.168 million, showing a continuous narrowing of losses. Gross margins during these periods were 7.3%, -0.1%, 13.1%, and 20.0%, indicating a clear recovery trend.
For more detailed and in-depth analysis of Fourier, refer to previous reports by Caihua News: 'An infographic decoding: Fourier Semiconductor passes listing hearing – China's leading amplifier audio chip company sees widening losses》《[IPO Outlook] Fourier Semiconductor Passes Hearing: Deep Moat in Audio Chips, Temporary Losses?》。
Author: Mingxi
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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