On December 30, 2024, Beijing time, Innoscience (Suzhou) Technology Co., Ltd. (hereinafter referred to as "Innoscience"), a leader in gallium nitride power semiconductors, was listed on the Main Board of the Hong Kong Stock Exchange, with the stock code 02577.HK. On the day of listing, the Innoscience leadership team jointly rang the opening bell in Hong Kong to celebrate the first day of trading of the company's shares.
Innoscience is a high-tech enterprise specializing in the research and development and manufacturing of third-generation semiconductor gallium nitride (GaN). It owns the world's largest GaN power semiconductor production base, and its products cover GaN wafers, GaN discrete components, packaged chips, modules, etc., which can be widely used in consumer and home appliances, data centers, automotive electronics, new energy and industrial fields.
Currently, Innoscience has established close partnerships with well-known mobile phone manufacturers such as OPPO, Vivo, and Xiaomi; e-commerce companies such as Anker and UGREEN; new energy vehicle manufacturers such as RoboSense and Hesai; and leading companies in the home appliance and energy storage industries. Its In noGaN products are in mass production for mobile phone OVP, fast charging, automotive lidar, automotive PD, home appliance motor drives, industrial motor drives, data center server power supplies, BMS battery management, energy storage bidirectional converters, and photovoltaic MPPTs. In 2023, based on GaN discrete component shipments, Innoscience ranked first globally among GaN power semiconductor companies, with a market share of 42.4%. As of June 2024, cumulative shipments exceeded 850 million units.
At the listing ceremony, Dr. Luo Weiwei, Chairman of Innoscience, stated in her speech, "Innoscience is a global leader in the power semiconductor revolution and the world's largest manufacturer of gallium nitride (GaN) wafers. This listing on the Hong Kong Stock Exchange is a significant milestone in the company's development, signifying that we will move towards the global market with a broader vision and more determined steps. Global customers will experience high-frequency, high-efficiency, and energy-saving GaN products."
With its successful listing on the Hong Kong Stock Exchange's main board, Innoscience is expected to leverage the power of the international capital market to further enhance its position in the global gallium nitride market. Looking ahead, the company will further accelerate its pace of technological innovation and business expansion, enhance its brand influence and market competitiveness, consolidate its position as a global leader, and achieve even greater success in the new round of global industrial competition.
