HK Recently Listed Stocks Watch | Nsing Tech (02701.HK): HK-listed Cornerstone Pre-IPO Lock-up Shares to Be Released on 23 September, Involving 12.9624 Million Shares Held by Five Cornerstone Investors

NewTimeSpace News: On 17 September 2026, Hong Kong shares of Nsing Tech (02701.HK) edged lower in line with the broader market. As of the close, the company quoted HKD 7.96, down 0.93%, with turnover of approximately HKD 15 million for the day and a turnover rate of 1.98%. The semiconductor sector to which the company belongs rose 1.13% on the day, with the stock underperforming the sector.

On the news front, the lock-up period for the restricted shares held by Nsing Tech's cornerstone investors will expire on 22 September 2026, and the relevant shares will be formally released from lock-up starting 23 September 2026. According to the company's allotment results announcement, this listing introduced five cornerstone investors — Guohua Life, Harvest Oriental II SP, Dai Wanqin, An Jiangbo and Sunwoda Financial (Hong Kong) Limited — which subscribed for a total of 12.9624 million H Shares, representing 13.6% of the total number of Offer Shares and approximately 1.91% of the company's total issued share capital after listing, with a lock-up period of six months (calculated from the listing date of 23 March 2026). Among them, Guohua Life subscribed for 4.6296 million shares, Harvest Oriental II SP for 3.7036 million shares, Dai Wanqin for 2.7776 million shares, and An Jiangbo and Sunwoda Financial (Hong Kong) each subscribed for 925,800 shares.

Public information shows that Nsing Tech listed on the Main Board of The Stock Exchange of Hong Kong on 23 March 2026 at an offer price of HKD 10.80 per share, offering 95 million H Shares globally and raising gross proceeds of approximately HKD 1.026 billion and net proceeds of approximately HKD 944 million. The company is a platform-based integrated circuit design enterprise whose core business focuses on microcontroller unit (MCU) chips and security chips, while also developing a lithium battery anode materials business. The company currently has more than 300 MCU models, with products covering consumer electronics, industrial control and digital energy, smart home, automotive electronics and medical electronics, among other fields. According to China Insights Consultancy data, based on 2024 revenue, the company ranks among the top five Chinese enterprises in the global platform-based MCU market, among the top three Chinese enterprises in the global 32-bit platform-based MCU market, and first in China's MCU market with built-in commercial cryptographic algorithm modules.

In terms of performance, the company disclosed its 2026 interim results in August 2026, reporting revenue of RMB 906 million for the first half, up 43.4% year on year; net profit attributable to shareholders of RMB 4.414 million, turning around from a loss; net profit after deducting non-recurring gains and losses still showed a loss of RMB 23.57 million; and net cash outflow from operating activities of RMB 273 million, widening 422.72% year on year. Operationally, the company has implemented two rounds of product price adjustments since the beginning of 2026. The first round was a price adjustment notice issued on 7 April 2026, raising prices of certain products by 15% to 20% effective 7 April 2026 due to continuous substantial increases in the costs of core raw materials such as wafers and packaging materials; the second round was a price adjustment notice issued on 11 August 2026, raising prices of certain products by 10% to 20% effective 1 October 2026 due to the continued heating up of the AI industry and adjustments in the global supply chain structure that have made the supply-demand imbalance for MCU products prominent. In addition, on 1 September 2026, the company announced plans to use RMB 60 million of H Share proceeds to acquire an 8.33% equity interest in Nanjing Youcun, in order to strengthen its NOR Flash external storage MCU capabilities.

On the institutional view, EB Securities believes that Nsing Tech is one of the few suppliers to have achieved a domestic breakthrough in MCU for 800G and above optical modules, and that its penetration rate will continue to rise under the logic of supply chain security and domestic substitution. The institution noted that in the first half of 2026, the company's chip business revenue reached RMB 430 million, up 38.1% year on year, with a gross margin of 31.5%, up 1.6 percentage points year on year; the year-on-year improvement in gross profit reflects the company's smooth pricing pass-through mechanism, and if the industry prepares a further round of price increases, combined with the company's further focus on high-value areas such as AI computing power and humanoid robots, its profitability is expected to improve further.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.