IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
VOYAH Automotive 07489.HK	Automobile Manufacturers	N/A	1,000	N/A	N/A	Not applicable	2026/03/19
Delton Technology 01989.HK	Printed Circuit Boards	N/A	100	7,260.49	2026/03/17	2026/03/19	2026/03/20
Nsing Technologies 02701.HK	Printed Circuit Boards	N/A	200	2,181.78	2026/03/18	2026/03/20	2026/03/23
FS.COM 03355.HK	IT Consulting & Other Services	35.2-41.6	100	4,201.96	2026/03/18	2026/03/20	2026/03/23

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

VOYAH Automotive
07489.HK

Automobile Manufacturers

N/A

1,000

N/A

Not applicable

2026/03/19

Delton Technology
01989.HK

Printed Circuit Boards

N/A

100

7,260.49

2026/03/17

2026/03/19

2026/03/20

Nsing Technologies
02701.HK

Printed Circuit Boards

N/A

200

2,181.78

2026/03/18

2026/03/20

2026/03/23

FS.COM
03355.HK

IT Consulting & Other Services

35.2-41.6

100

4,201.96

2026/03/18

2026/03/20

2026/03/23

Summary

We are a platform-based integrated circuit (“IC”) design company, and focus on delivering control chips and system solutions for a broad range of intelligent terminals. We have also operated a lithium-ion battery anode material business, which has diversified our business model while driving our revenue growth during the Track Record Period. We have established diversified product offerings that are widely adopted across key sectors such as consumer electronics, industrial control and digital energy, smart home, automotive electronics, and medical electronics. We ranked as the fifth largest Chinese companies in the global platform-based microcontroller unit (“MCU”) market, and the third largest Chinese companies in the global 32-bit platform-based MCU market, in terms of revenue in 2024, according to CIC. We ranked first in China’s MCU market with embedded commercial cryptographic algorithm modules in terms of revenue in 2024, according to CIC. The revenue contribution by our chip products business was 38.3%, 40.2%, 47.6% and 48.4%, respectively, in each of the years/period of 2022, 2023, 2024 and the nine months ended September 30, 2025, while the revenue contribution by our lithium-ion battery anode material business was 52.5%, 50.8%, 47.1% and 47.5%, respectively, in each of the same years/period. Chip Products Business Since our establishment in 2000, we have gradually achieved a leap-forward development from specialized market chips to general-purpose MCUs, and further to high-end products such as edge AI computing. In 2023, we have expanded our product portfolio to include BMS chips and radio frequency (“RF”) chips, among others, which started to generate revenue in 2024. Since 2018 when we determined to become a platform-based IC design company, we have launched multiple 32-bit MCU product series based on Cortex-M0 to M7 cores and continuously optimized chip size, power consumption, and performance, achieving scenario evolution from embedded control to edge intelligence. As early as 2019, we became the first fabless IC design company to mass produce general-purpose MCU products using the 40nm eFlash process, leading a global trend of process advancement in mainstream products. This enabled significant improvements in performance and energy efficiency, strengthened our competitive position in high-performance computing and advanced control, expanded our technological footprint in key industries, and allowed us to establish a flexibly reusable, cross-sector full-stack product platform. As core controller of intelligent terminals, the MCU plays a pivotal role, with computing performance alongside security and system integration, forming the technological foundation of the intelligent era. According to CIC, the global MCU market is expected to grow from approximately US$29.9 billion in 2024 to US$48.0 billion in 2029, with a CAGR of 9.9%. Emerging applications such as AI, robotics, new energy, and low-altitude economy (i.e. economic activities and industries centered around civil manned and unmanned aerial vehicles operating at low altitudes) will be primary drivers of this growth. In particular, the rapid development of AI and edge computing is creating strong demand for high-end MCUs with on-device inference capabilities, security algorithm processing, and superior power efficiency. Leveraging our core technologies in heterogeneous multi-core architecture, AI algorithm support, cryptographic modules, and power consumption management, our products have been well adopted in edge intelligence, energy storage control, and humanoid robotics, visionarily aligning closely with industry trends. Lithium-ion Battery Anode Materials Business In addition to our chip product business, we have also operated a lithium-ion battery anode materials business. Our lithium-ion battery anode materials business was marked by artificial graphite, while also exploring across multiple technologies, including silicon-carbon composites and hard carbon architectures, with wide applications in new energy vehicles, energy storage systems, and portable devices. Our customers include leading battery manufacturers across the industry. We are also exploring the integrated application of BMS control chips and lithium-ion battery anode materials within the same customer ecosystem, offering integrated solutions with system-level efficiency optimization, safety assurance, and cost control. This renders us to build a full-stack intelligent energy control platform, enhancing our resilience and growth potential across business cycles. Source: Nsing Technologies (02701) Prospectus (IPO Date : 2026/03/13)
Listing Market	MAIN
Industry	Printed Circuit Boards
Background	H Shares
Major Business Area	China

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