Goertek Microelectronics’ SZSE ChiNext Board IPO Approved

Goertek Microelectronics’ SZSE ChiNext Board IPO Approved

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( Source: Goertek Microelectronics)

GoerTek, a leading Chinese business in the acoustic, optical and microelectronics markets, revealed on Thursday that its subsidiary Goer Microelectronics was accepted for an IPO on the ChiNext Board of the Shenzhen Stock Market (SZSE) on Tuesday.

In October 2017, Goer Microelectronics was developed, and since March 2021, GoerTek’s shareholding ratio in the business was 85.9%. Goer Microelectronics is a semiconductor business concentrating on R&D, production and sales of Micro-Electro-Mechanical Systems (MEMS) gadgets.

The business’s primary items consist of MEMS microphones, MEMS sensing units, microsystem modules, which are primarily utilized in cellular phones, wise cordless earphones, wearable items, automobile electronic devices and other fields.

In regards to efficiency, the company’s prospectus reveals that from 2018 to 2020 and the very first half of 2021, the earnings of GoerTek Microelectronics were 1.9 billion yuan ($298 million), 2.6 billion yuan, 3.2 billion yuan and 1.3 billion yuan, respectively, and net revenues were 356 million yuan, 309 million yuan, 378 million yuan and 158 million yuan, respectively.

According to the formerly launched spin-off strategy, GoerTek Microelectronics is the only business under GoerTek participated in R&D, production and sales of MEMS and microsystem modules, so it is not in competitors with its moms and dad business after the spin-off.

SEE LIKEWISE: Goertek Microelectronics Plans Noting on SZSE ChiNext Board

According to the prospectus revealed by GoerTek Microelectronics, the variety of shares released this time does not surpass 79.37 million. The funds raised from the deal will be utilized as follows: 1.153 billion yuan for smart sensing unit microsystem module R&D and growth job (stage I), 1.15 billion yuan for R&D and growth of the MEMS sensing unit chip and module, and 888 million yuan for the updating of MEMS microphones and modules.

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