China Industrial Securities is underwriting the chipmaker’s initial public offering (IPO).The company’s full-year 2018 revenue grew around 2% year on year, while its profits surged 80% to reach RMB 192 million during the same period.Rockchip’s revenue in the first half of 2019 reached RMB 574 million ($83.3 million) while its net profit was RMB 66 million.China plans to domestically produce 75% of all key components, which includes chips, by 2025 amid a protracted trade war with the US.ĭetails: Based in the eastern Chinese city of Fuzhou, Rockchip has launched a series of artificial intelligence (AI) chips since its failed listing.ChiNext was set up as a way for predominantly high-tech firms that do not meet the requirements of Shenzhen’s main board to go public. Why it matters: Founded in 2001, Rockchip failed to list on Shenzhen’s ChiNext board in 2017 for “critical sales stagnation and asset decline,” according to China Money Network. China’s securities watchdog has approved an application from chipmaker Rockchip to list on the Shanghai bourse, as the company taps the capital markets following an unsuccessful attempt to go public three years ago.
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