ECM

Nexchip (晶合集成) A+H Pre-IPO: Early Thoughts

11 Jun 2026 By Ke Yan, CFA, FRM
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Abstract: Nexchip has passed its HKEX hearing for an A+H listing. CICC is the sole sponsor. We look at the company's core segments: display driver ICs, image sensors, and power management ICs. We discussed our preliminary thoughts on the company's fair value based on A-H premium.

HUA HONG SEMI (1347 HK) UMC (2303 TT) TSMC (2330 TT) Powerchip Semiconductor Manufacturing (6770 TT) SMARTSENS (688213 CH) NEXCHIP SEMICONDUCTOR (688249 CH) HUA HONG SEMICONDUCTOR (688347 CH) SMIC (688981 CH) SMIC (981 HK) GlobalFoundries Inc. Ordinary Shares (GFS US) Tower Semiconductor (TSEM US)

Highlighted Stocks

HUA HONG SEMI, UMC, TSMC, Powerchip Semiconductor Manufacturing, SMARTSENS, NEXCHIP SEMICONDUCTOR, HUA HONG SEMICONDUCTOR, SMIC, GlobalFoundries Inc. Ordinary Shares, Tower Semiconductor

About ECM & IPO Research

Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.

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