FOURSEMI (03625) rose nearly 8% during the morning trading session. At the time of writing, the stock was up 6.35%, trading at HKD 133.9 with a turnover of HKD 17.353 million. The company's total market capitalization has surpassed HKD 15 billion. Public information indicates that FOURSEMI Semiconductor is a leading domestic designer of perception AI chips. Operating under a Fabless asset-light model, the company focuses on the research, development, design, and sales of intelligent audio and haptic feedback chips. It stands out as a benchmark enterprise in the import substitution sector. Based on 2024 shipment volumes, the company ranks firmly among the top three globally in amplifier audio chips, holds the second position in the Chinese market, and leads the domestic market share for dedicated audio chips used in smart displays, underscoring its solid leading position in the industry. In terms of financial performance, the company maintains a high-growth trajectory. Its 2024 revenue increased by 136.3% year-over-year, its gross margin turned positive and improved to 20%, and its net loss narrowed significantly, indicating a clear inflection point towards profitability. Prior to its listing, the company secured backing from top-tier financial and industrial capital, including Shunwei Capital, funds under the National Integrated Circuit Industry Investment Fund, Wingtech, and Huaqin, demonstrating significant industrial synergies and placing its capital recognition in the industry's top tier.