Maxscend Microelectronics Company Limited (“Maxscend” or the “Company”, 300782.SZ) was listed on ChiNext Board of the Shenzhen Stock Exchange on June 18, 2019. A total of 25 million new shares were issued, accounting for 25% of enlarged capital; the offering price was RMB35.29/share, representing 22.99x 2018P/E; and the total proceeds reached RMB882.25 million. CICC acted as Sole Sponsor and Lead Underwriter in the transaction.

The transaction marks the largest A-share IPO of chip designer since 2012. Up to date, the Company is also the most profitable listed RF chip designer on the Shenzhen Stock Exchange.

Founded in Wuxi, Jiangsu Province in 2012, Maxscend is an innovative chip designer focusing on the R&D of integrated circuits in the radio frequency (RF) field. The main products include RF components such as RF switches ，RF low noise amplifiers (LNA) and wireless connection products. Since its inception, the Company has gradually developed into a major competitor in China’s RF front-end chip market with advanced technology capability, high-quality products and efficient services, and has built strong brand influence in the industry. 

Maxscend, as the first to achieve process innovation in the field of RF LNA, has introduced the single-chip integrated product of RF LNA and switches worldwide. At present, the Company has accumulated extensive client resources and its RF front-end chips have been widely used by terminal manufacturers such as Samsung, Xiaomi, Huawei, vivo and OPPO. From 2016 to 2018, the Company’s revenue was RMB385.21 million, RMB591.65 million and RMB560.19 million respectively, and its net profit attributable to the shareholders of the parent company was RMB84.16 million, RMB169.89 million and RMB162.33 million respectively.

With deep understanding of the inherent logic of the semiconductor field, CICC fully explored the Company’s investment highlights, facilitated it to demonstrate strengths and development potential as an innovative chip designer. Through comprehensive and high-quality investment banking services, CICC always kept up with updates in the market and policy environment, actively promoted communication among all parties and the review process, assisted the client to embrace a historic opportunity for leapfrog development, which won high recognition of the client.

As a leading Chinese investment bank with “Chinese roots and international reach” as our goal and “being people-oriented with nation in mind” as our value, CICC will continuously rely on the extensive capital market experience and seamless cooperation of onshore and offshore businesses to provide support for the development of private enterprises in China.