Feixiang Technology's IPO on the Shanghai Stock Exchange terminated the main business of R&D, design and sales of RF front-end chips

The Zhitong Finance App learned that on October 14, the IPO review status of Shenzhen Feixiang Technology Co., Ltd. (Feixiang Technology for short) was terminated on the Shanghai Stock Exchange. Due to the withdrawal of the issuance and listing application by Feixiang Technology and its sponsor, the Shanghai Stock Exchange terminated its issuance and listing review in accordance with the relevant provisions of section 63 of the “Shanghai Stock Exchange Stock Issuance and Listing Review Rules”.

According to the prospectus, Feixiang Technology's main business is the R&D, design and sale of RF front-end chips. Downstream applications include mobile smart terminals such as smartphones and tablets, and network communication markets such as wireless broadband routers. The company's products have covered various network types of communication under 5G, 4G, 3G, 2G, Wi-Fi, and NB-IoT communication standards. They are compatible with mainstream communication platforms such as Qualcomm, MediaTek, Zhanrui, ASR (ASR), and Altair, and have achieved mass production and shipment.

With years of technology accumulation and R&D innovation in the field of RF front-end chips, Feixiang Technology pioneered the launch of a complete mobile phone RF front-end solution supporting all 5G bands in China in 2020. It has now mass-produced and shipped highly integrated 5G modules such as LPAMiF, PAMiF, and L-FEM. The highly integrated 5G modules L-PAMID and L-DIFEM, which are more technically difficult, have completed design and begun sample verification.

Feixiang Technology products have been used in well-known brands such as Company A, Honor, Samsung, Lenovo (Motorola), Transmission, and Realme, and have entered the supply chain systems of well-known ODM manufacturers such as Huaqin Technology, Wingtai Technology, Tianlong Mobile, Longqi Technology, and Zhongnuo Communications.

On the financial side, in 2019, 2020, 2021, and January-March 2022, Feixiang Technology achieved revenue of approximately 116 million yuan, 365 million yuan, 916 million yuan, and 250 million yuan respectively. Net profit for the same period was approximately -120 million, -175 million, -341 million yuan, and -120 million yuan, respectively.