Nationtech successfully listed on the Hong Kong Stock Exchange, with Futu as the underwriter assisting the company in achieving an A+H structure

On March 23, 2026, Nationz Technologies Co., Ltd. (hereinafter referred to as 'Nationz Technologies', stock code:$NSING TECH (02701.HK)$ ), a leading Chinese semiconductor chip company, successfully listed on the Main Board of the Hong Kong Stock Exchange, officially entering a new phase of dual-capital platform coordinated development ('A+H'), and embarking on a new journey of global capital market expansion.

During this IPO process, Futu, asjoint bookrunners (JBR) and joint lead managers (JLM),deeply participated in the entire issuance process. Leveraging the advantages of its global technology trading platform and extensive resources of high-net-worth and institutional investors, Futu efficiently introduced diverse, high-quality, and actively trading global capital for Nationz Technologies, strengthening the investor base and laying a solid foundation for post-listing stock activity and market liquidity.

According to the prospectus, Nationz Technologies' IPO attracted several high-quality cornerstone investors, collectively subscribing for a total amount of approximatelyHKD 186 million,covering well-known institutions and industrial capital, providing strong support for the company’s long-term stable development and demonstrating the capital market's high recognition of the semiconductor chip sector and the company’s core competitiveness.

The prospectus shows that Nationz Technologies is a leading semiconductor chip design company in China, focusing on general MCU, secure chips, and IoT chips. It has an integrated industrial chain layout from chip design, R&D to sales, with a complete system of independent intellectual property rights. Its core technologies are at the forefront of the industry. According to Frost & Sullivan:

- In terms of revenue in 2024, the company ranks among the top in the domestic general MCU chip market, with its market share firmly positioned within the leading group of local enterprises.

- The company's secure chip products are widely used in key areas such as finance and IoT, demonstrating significant market competitiveness in relevant domestic niche markets.

- In terms of shipment volume in 2024, the company’s IoT chip products showed outstanding performance in the consumer electronics and industrial IoT segments, with continuously increasing market recognition.

The company’s products cover high-end manufacturing and emerging fields such as financial payments, IoT, industrial control, consumer electronics, and automotive electronics, serving numerous top-tier clients across industries. It is one of the core benchmark companies replacing imported semiconductor chips with domestically produced ones, providing crucial support for the autonomous and controllable development of the national semiconductor industry.

According to a Frost & Sullivan report, the global semiconductor chip market size is expected to grow from $520 billion in 2024 to $780 billion by 2029, with a compound annual growth rate (CAGR) of 8.5%. During the same period, China’s semiconductor chip market is projected to expand from $180 billion to $290 billion, with a CAGR of 10.2%. Growth in sectors such as MCUs, secure chips, and IoT chips will be particularly notable, offering broad growth opportunities for industry leaders.

Financial data indicates that Nationz Technologies' business scale has steadily developed, with continuous improvement in operational quality. From 2022 to 2024, the company achieved revenues ofRMB 1.195 billion, RMB 1.037 billion, and RMB 1.168 billion, respectively.Although short-term profitability pressures were faced due to industry cycles, the company's core business demonstrates strong recovery potential. Since 2025, operating cash flow conditions have continued to improve, and investment in R&D has remained stable, laying a solid foundation for long-term development. As of the end of September 2025, the company's total assets amounted to RMB 3.713 billion, with continuous enhancement in core technology reserves and product portfolios.

The prospectus disclosed that Nationz Technologies plans to allocate the net proceeds from this IPO according to the following strategic purposes:

- 30%: Investment in core chip R&D, with a focus on advancing high-end MCU, security chips, and IoT chip technology upgrades;

- 25%: Expansion of chip testing and verification capacity to improve product delivery capabilities and market responsiveness;

- 20%: Strategic investments and cooperation across the upstream and downstream of the supply chain to enhance the industrial ecosystem and strengthen core competitiveness;

- 15%: Enhancement of global market promotion and customer service capabilities to accelerate globalization efforts;

- 10%: Working capital and general corporate purposes.

This listing on the Hong Kong stock market will further strengthen Nationz Technologies' R&D, production capacity planning, and industrial ecosystem construction, solidifying its leading position in China's semiconductor chip industry while accelerating global expansion and supporting the high-quality development of China's semiconductor sector.

As a leading digital fintech company, Futu leverages an investor ecosystem of over 29.18 million and a comprehensive enterprise service system to provide businesses with end-to-end services throughout the pre-IPO, IPO, and post-IPO stages. These include one-stop ESOP management solutions, Hong Kong and US IPO distribution*, investor relations (IR) and PR, financial public relations services, international placements, and secondary trading services as core offerings.

By Q4 2025, more than half of the top ten Hong Kong IPOs by fundraising amount have collaborated with Futu. Nearly half of the Hong Kong IPO projects in Q4 are partnered with Futu. The total subscription amount for Hong Kong IPOs on Futu's platform reached 3.5 trillion HKD in Q4, firmly ranking first in the market. Futu’s capabilities in US IPOs are also notable, achieving full allocation for all retail investors participating in popular new listings such as Bullish, Figure, and Gemini.

As of Q4 2025, Futu's corporate services clientele has reached 1,161 companies, providing IPO distribution and IR services for 600 enterprises. It has successfully assisted 387 companies, including Meituan, Kuaishou, Xiaomi, Baidu, KE Holdings, JD Health, and Bilibili, in going public in Hong Kong and the US. To date, Futu has signed agreements with 830 companies for ESOP services, with 1,300 listed companies having established a presence on Futu’s platform.

In the future, Futu will fully leverage its resources and market influence to provide more professional and efficient services to a wider range of clients!

*Securities-related businesses such as IPO distribution are provided by licensed subsidiaries under Futu.

*Data source: Market value calculated based on the first day of listing.

*Data source: Futu's Q4 2025 earnings report

121K Views