On January 25th, Hangzhou Guoxin Technology Co., Ltd. took a significant step by applying for listing on the New Third Board. The company had initially aimed to launch its IPO on the Growth Enterprise Market (GEM) back in 2009. In response to an announcement from the National SME Share Transfer System, the company revealed that it had undergone restructuring and was preparing its application materials during that time, with plans to submit its GEM IPO application in 2010. However, due to delays in confirming the equity of state-owned shareholders, the process could not be finalized at the time. It was expected to be completed in the first half of 2010.
Nevertheless, market conditions changed in 2010, leading to a decline in the company’s operating performance during the first half of the year. This drop in revenue raised concerns about the company's ability to meet the requirements outlined in the Interim Measures for the Initial Public Offering of Stocks on the GEM Listing (2009). As a result, the company did not formally submit its IPO filing materials to the China Securities Regulatory Commission (CSRC).
According to data from Dixinbeisan Institute, Hangzhou Guoxin primarily focuses on developing complete solutions for digital audio and video IC design and chip applications. Its current products are mainly targeted at the digital TV sector, covering three key categories: (1) digital TV channel demodulation chips compatible with various transmission modes such as satellite, terrestrial, and cable; (2) decoding chips for different video standards like MPEG2, H.264, AVS+, and H.265; and (3) single-chip solutions that integrate both demodulation and decoding functions.
Since its establishment, the company has focused on developing independent intellectual property rights in digital TV transmission technologies. By July 2015, it had sold over 150 million chips, making it one of the top domestic chip design companies in the digital TV field. The company has fully mastered core digital TV transmission technologies and achieved comprehensive coverage across different transmission modes. Its technology is considered among the best in the country and is the only company in China capable of providing full-range demodulation chips for satellite (ABS-S, DVB-S, DVB-S2), cable (DVB-C), and terrestrial (DTMB-T, DVB-T, DVB-T2) systems.
In recent years, the company's gross profit margin for its main business has been gradually declining. The gross profit margins were 41.80% in 2013, 38.70% in 2014, and 28.10% between January and July 2015, reflecting increased competition and pressure on pricing.
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