Ingenic shares opened flat in Hong Kong’s grey market trading.

Founded in 2005, Ingenic operates on a fabless business model, designing chips for automotive electronics, industrial equipment, medical devices and smart security systems. It broadened its footprint in 2020 by acquiring Silicon Valley-based Integrated Silicon Solution Inc, bringing automotive-grade memory products into its portfolio.

Ingenic held notable global positions in several niche markets in 2025 – ranking second in static random-access memory (SRAM), seventh in niche dynamic random-access memory (DRAM) and seventh in NOR Flash by revenue, according to Frost & Sullivan data cited in the prospectus.

The strategic shift towards memory and automotive applications has become the firm’s main growth driver. Last year, storage chips accounted for 61 per cent of its overall revenue, with automotive-related products contributing to about 33.5 per cent.

Ingenic reported annual revenue of 4.74 billion yuan in 2025, up 12.5 per cent year on year, while net profit grew 3 per cent to 375 million yuan.

The firm’s growth accelerated in the first quarter of this year, with revenue surging over 47 per cent year on year to 1.56 billion yuan and net profit skyrocketing more than 331 per cent to 319 million yuan.