Jiangsu Xinde passes HKEX listing hearing: 2025 revenue RMB1.01 billion

NewTimeSpace News: Jiangsu Xinde Semiconductor Technology Co., Ltd. (the "Company"), a provider of semiconductor packaging and testing services, has passed the listing hearing of the Main Board of the Stock Exchange of Hong Kong, according to a disclosure by the HKEX on October 21. Huatai International acted as the sole sponsor. Established in September 2020, the Company develops packaging designs, provides customised packaging products and offers testing services for packaging products.

According to the prospectus, the Company's advanced packaging portfolio comprises BGA, LGA, WLP, 2.5D/3D, as well as FC-QFN and FC-SOT, while its traditional packaging offerings include WB-QFN. It has built the "Chiplet and Advanced Package integration Center (CAPiC)" platform covering all technical branches of advanced packaging. According to Frost & Sullivan, the Company ranked seventh among China's general-purpose OSAT companies in terms of revenue from semiconductor advanced packaging and testing in 2025, with a market share of 0.6%.

The prospectus showed that revenue increased from RMB509.1 million in 2023 to RMB827.4 million in 2024 and further to RMB1,012.2 million in 2025, and rose from RMB306.4 million for the four months ended April 30, 2025 to RMB359.7 million for the same period in 2026. Losses amounted to RMB358.9 million, RMB376.6 million and RMB483.1 million in 2023, 2024 and 2025, respectively, while the gross loss margin narrowed from 38.4% to 20.1% and 18.0%, and from 20.5% to 17.9% for the four months ended April 30, 2025 and 2026. Aggregate initial capital expenditure from establishment to April 30, 2026 was approximately RMB4,063.3 million.