On November 25, SHHX Technology Group issued the "Prospectus Letter of Intent" announcement, officially launching the A-share IPO process. For this listing, Hengxuan Technology plans to publicly issue no more than 30 million shares.
SHHX focuses on the R&D, design and sales of smart audio SoC chips, and has achieved substantial growth in the past three years. From 2017 to 2019, SHHX achieved revenue of 85 million yuan, 330 million yuan and 649 million yuan respectively. From January to September 2020, the company's performance continued to shine, with operating income of 669 million yuan, an increase of 40.41% year-on-year; net profit of 117 million yuan, a significant year-on-year increase of 165.39%.
SHHX provides the market with edge intelligent master control platform chips with voice interaction capabilities in AIoT scenarios. Its products are widely used in low-power smart audio terminal products such as smart Bluetooth headsets, Type-C headsets, and smart speakers.
The company`s current products have entered the global mainstream Android mobile phone brands including Huawei, Samsung, OPPO, Xiaomi, etc., and also occupy an important position among professional audio manufacturers including Harman, SONY, Skullcandy and other brands. The comprehensive coverage of products in brand customers, the market share of non-Apple brands as high as the first.
Since its establishment, SHHX has built a core technology group and intellectual property system through continuous technological innovation and accumulation, and built a relatively high R&D barrier. As of September 7, 2020, SHHX and its subsidiaries legally own 59 patents, including 37 domestic invention patents, 6 domestic utility model patents and 16 overseas patents.
Thanks to continuous R&D investment, SHHX continues to make technological innovations to meet the increasingly iterative needs of the market.
In 2017, the company launched a series of chips that were adopted by Huawei to meet the follow-up needs of other brand manufacturers in the industry after the launch of AirPods.
In 2018, SHHX also developed a series of smart Bluetooth audio chips using 28nm advanced manufacturing process. The power consumption is at the current industry-leading level. It has realized the full integration of Bluetooth audio technology and active noise reduction technology. Subsequently, SHHX launched the ZP series of products using the company's self-developed IBRT technology, which greatly narrowed the experience gap between other brand products in the TWS headset industry and Apple AirPods. At present, the company's chips widely support the intelligent voice assistants of mainstream manufacturers such as Google, Baidu, and Alibaba, and have become the pioneer of intelligent voice technology and occupy a favorable position.
The funds raised by SHHX this time will be invested in smart Bluetooth audio chip upgrade projects, smart WiFi audio chip R&D and industrialization projects, Type-C audio chip upgrade projects, R&D center construction projects and development and technology reserve funds. In the future, the company will continue to be committed to becoming an innovative chip design company, providing low-power edge intelligent master control platform chips for the AIoT market, focusing on the development trend of terminal intelligence, and in-depth development in the field of smart wearable and smart home equipment.