Memory, microcontroller startup stages IPO in Shanghai

Business news |
By Peter Clarke

Zbit Semiconductor Inc. (Hefei, China), a fabless memory and microcontroller vendor, has staged an IPO on the Shanghai Stock Exchange’s STAR market.

The company issued 20.66 million shares priced at RMB65.11 per share raising RMB1.35 billion (about US$195 million). The company’s market capitalization stands at RMB5.38 billion (about $780 million).

According to its IPO prospectus the company made a net profit of RMB132.2 million (about $19.1 million on revenue of RMB576 million (about $84.4 million) in 2021 financial year. The revenue was up 129 percent year-on-year.

The company was founded in 2014 and develops and sells NOR Flash and 32-bit MCUs for use in consumer electronics; mobile phones; IOT; communications; smart home; industrial control; and automotive markets.

Zbit has developed three NOR Flash product lines (3V, 1.8V and wide range) and an ARM Cortex based 32-bit MCU. The company has also demonstrated a NOR flash based computing-in-memory test chip for machine learning applications.

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