Powerchip Memory Technology Co., Ltd. has submitted an application for a main board listing on the Hong Kong Stock Exchange, with CITIC Securities acting as the sole sponsor. This marks the company's second filing attempt. In 2025, the company sold over 100 million memory chips, including those within modules and wafers.

According to its prospectus, Powerchip Memory Technology is a leading memory chip design company in China. Leveraging deep technical expertise, industry collaboration, and a comprehensive product portfolio, the company has established a broad customer base and achieved large-scale commercialization of its products and solutions.

The company focuses on the niche memory market, including products like 8Gb DDR4 and earlier generations. While mainstream DRAM typically features high capacity and speed for standardized devices like smartphones and personal computers, niche DRAM utilizes mature technology with generally lower performance requirements, serving specialized applications with a more stable market share. In 2025, niche DRAM accounted for approximately 7.0% of global DRAM sales revenue and about 12.3% in the Chinese DRAM market.

According to Frost & Sullivan data, based on 2025 niche DRAM revenue, Powerchip Memory Technology ranked fifth among Chinese companies, fourth among Chinese fabless companies, and twelfth among all participants in the global niche DRAM market.

The company has developed WoW 3D heterogeneous integration technology and is advancing the mass production process for high-bandwidth memory products. Its product lineup is comprehensive, covering various generations of DRAM memory types, enabling it to provide complete system-level storage solutions. Its products are widely applicable in consumer electronics, network communications, automotive electronics, energy, and industrial control systems.

The company's strategic focus is on developing high-bandwidth and high-performance products to meet diverse market demands across various industries. Through independent research and development, it has mastered the core technologies for high-bandwidth memory products. With years of R&D experience and intellectual property accumulation, the company has built extensive expertise and proprietary technology across multiple technical fields, including product design, verification testing, quality control, and mass production. Over the years, it has established solid foundations and business partnerships with over 100 global customers.

The company maintains a long-term cooperative relationship with the globally renowned foundry, Powerchip Semiconductor Manufacturing Corp. It has also established partnerships with two of the world's top ten memory module manufacturers, ADATA Technology and Memory Information, ensuring a supply chain capable of supporting stable production capacity.

With its international R&D and sales teams, and inheriting the Zentel brand from Zentel Japan, which has over 20 years of history, Powerchip Memory Technology has built business relationships with high-quality global customers. It possesses the capability to rapidly expand its client network and access broad market opportunities.

The company has benefited from the recent development of the global and Chinese memory chip and AI memory-computing related industries, with sales of its main products showing continuous growth. During the track record period, the total storage capacity of products sold by the company increased from approximately 29.3 million GB in 2023 to about 54.3 million GB in 2025, representing a compound annual growth rate of 36.1%.

Financially, alongside the recent growth in the global and Chinese DRAM and AI memory-computing related sectors, the company's product sales volume and generated revenue have increased. For the years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 580 million, RMB 646 million, and RMB 1.105 billion, respectively. During the same periods, it recorded gross profits of approximately RMB 21.204 million, RMB 60.283 million, and RMB 178 million, respectively.