InnoScience raises $180 million in Hong Kong IPO

　　Innosec (Suzhou) Technology (hereinafter referred to as “Innosec”), a leader in gallium nitride power semiconductors, was listed on the main board of the Hong Kong Stock Exchange with the stock code 02577. HK . On the day of listing, Innosec’s leadership team jointly rang the opening bell in Hong Kong to celebrate the first day of listing of the company’s shares.

　　Innosec is a high-tech enterprise focusing on the R&D and manufacturing of third-generation semiconductor gallium nitride. It has the world’s largest gallium nitride power semiconductor production base, and its products cover gallium nitride wafers, gallium nitride discrete devices, and composites. Sealing chips and modules can be widely used in consumer and home appliances, data centers, automotive electronics, new energy and industry.

　　Currently, Innosec has established partnerships with well-known mobile phone manufacturers such as OPPO, Vivo, and Xiaomi, e-commerce companies such as Anker and Lulian, new energy vehicle manufacturers such as Sagitar and Hesai, as well as companies in the home appliance and energy storage industries. Close cooperative relationship, its product InnoGaN is also used in mobile phone OVP, fast charging, vehicle lidar, vehicle PD, home appliance motor drive, industrial motor drive, data center server power supply, BMS battery management, energy storage bidirectional converter, photovoltaic MPPT and other products Mass production. In 2023, based on shipments of gallium nitride discrete devices, Innosec will rank first among global gallium nitride power semiconductor companies in terms of market share, with a market share of 42.4%. As of June 2024, cumulative shipments have exceeded 850 million units.

　　At the bell-ringing ceremony, Dr. Luo Weiwei, chairman of Innosec, said in his speech, “Innosec is the leader of the global power semiconductor revolution and the world’s largest gallium nitride chip manufacturer. This time at the Hong Kong Stock Exchange The listing is an important milestone in the company’s development history, marking that we will move towards the global market with a broader vision and a more determined pace. Innosec believes that GaN can change the world and create a greener planet. As a leader in the global gallium nitride industry, we will continue to focus on technological innovation and empower global customers to experience high-frequency, efficient, green and energy-saving gallium nitride products.”