HK Stock Connect Insight | FOURSEMI (03625.HK): H1 Gross Profit Up 14.3% YoY as Stock Connect Inclusion Took Effect on September 7
- FOURSEMI listed on the Main Board of the Stock Exchange on March 31, 2026 at an offer price of HKD 40.00 per share, with a global offering of 12 million H shares.
- Founded in 2016, FOURSEMI is a Chinese semiconductor design company focusing on audio and haptic sensing chips and operating under a fabless model.
- the company's revenue for the first half of 2026 was RMB 139 million, down 21.3% year on year; gross margin was 27.5%, up 8.6 percentage points year on year, and gross profit was RMB 38.23 million, up 14.3% year on year.
NewTimeSpace News: On November 5, 2026, FOURSEMI closed at HKD 42.26, down 5.71% for the day, with turnover of HKD 11.2053 million.
According to public information, FOURSEMI listed on the Main Board of the Stock Exchange on March 31, 2026 at an offer price of HKD 40.00 per share, with a global offering of 12 million H shares and net proceeds of approximately HKD 423 million.
At present, since its listing on March 31, 2026, the company's share price has ranged from a high of HKD 153.00 to a low of HKD 40.36. As of November 5, 2026, the share price closed at HKD 42.26, approximately 5.65% above the offer price of HKD 40.00. Since its Stock Connect inclusion, the share price has fallen from HKD 72.00 at the close on September 7, 2026 to HKD 42.26, a cumulative decline of approximately 41.31%.
It is understood that Hang Seng Indexes Company published the results of its quarterly review of the Hang Seng Index series for the period ended June 30, 2026 on August 21, 2026, under which FOURSEMI was included in the Hang Seng Composite Index, with the constituent changes effective from September 7, 2026; the Shanghai and Shenzhen stock exchanges subsequently adjusted their respective lists of Stock Connect eligible securities, and the company's H shares have been included in the list of Stock Connect eligible securities since September 7, 2026.
Founded in 2016, FOURSEMI is a Chinese semiconductor design company focusing on audio and haptic sensing chips and operating under a fabless model. Its products include adaptive power control audio chips, portable power amplifier audio chips, medium- and high-power audio chips, haptic feedback chips and power management chips, which are widely used in terminals such as smartphones, tablets, smart wearable devices, smart screens and in-vehicle audio systems.
On the financial front, the company's revenue for the first half of 2026 was RMB 139 million, down 21.3% year on year; gross margin was 27.5%, up 8.6 percentage points year on year, and gross profit was RMB 38.23 million, up 14.3% year on year.
A research report by Guotai Haitong International noted that the company benefits from three growth engines, namely the ramp-up of high-power automotive-grade audio chips and medium-power audio chips and cross-selling of haptic driver chips; shipments of its smart display audio chips exceeded 10 million units in 2024, with a market share of approximately 23.6%.
