New Stock News | Continued Profitability After Turning Losses, Xici Technology Files Second Listing Application with HKEX

CITIC Securities International is the sole sponsor of Anhui Xicmi Technology Co., Ltd. (referred to as: Xicmi Technology), which has submitted an application to the Hong Kong Stock Exchange’s Main Board, as disclosed by HKEX on February 27. The company previously submitted a listing application to HKEX on August 26, 2025.

According to the prospectus, Xicmi Technology is an IDM company in the magnetic sensor industry and one of the few globally with a complete magnetic sensing technology portfolio and full vertical integration across the entire industry value chain. This enables the company to provide one-stop magnetic sensor solutions to leading customers across various industries worldwide, including green energy, new energy vehicles and automotive, industrial automation and robotics, as well as artificial intelligence infrastructure and data centers. According to Frost & Sullivan, based on 2024 revenue, the company ranks sixth among global magnetic sensor IDM companies and tenth among all magnetic sensor companies, with a market share of 0.6%.

Xicmi Technology focuses on xMR sensors. According to Frost & Sullivan, based on 2024 revenue generated from xMR sensors, the company ranks fifth globally with a market share of 1.4%. The company offers a wide range of magnetic sensor solutions, mainly including various specifications and features of current sensors and motion sensors. According to Frost & Sullivan, based on 2024 revenue, the company’s current sensor products rank third globally with a market share of 3.4%. Additionally, in 2024, Xicmi Technology delivered approximately 100 million motion sensor chips (including bare wafers, individual chips, and modules) to leading customers across industries in Europe and Asia.

Revenue

For the nine months ending September 30, 2023, 2024, and 2025, the company achieved revenues of approximately RMB 594 million, RMB 703 million, and RMB 627 million, respectively.

Annual / Period Profit

For the nine months ending September 30, 2023, 2024, and 2025, the company’s annual/period profits were RMB -66.56 million, RMB 9.85 million, and RMB 39.77 million, respectively.

Gross Profit Margin

For the nine months ending September 30, 2023, 2024, and 2025, the company’s gross profit margins were 18%, 17.2%, and 24.4%, respectively.

Magnetic sensors detect changes in magnetic field strength, direction, and disturbances, converting magnetic signals into measurable electrical signals such as voltage, current, and resistance. This allows the measurement of physical quantities like current, position, angle, and speed. As key sensing components, magnetic sensors provide contactless and highly reliable detection of position, speed, angle, current, and proximity, forming the foundation for automation, intelligent control, and safety in industries such as automotive, industrial automation, new energy, and consumer electronics. Magnetic sensors mainly include current sensors, motion sensors, and others (such as magnetic switches and magnetic heads).

The past growth of the magnetic sensor industry has mainly depended on the development of downstream industries like automotive, industrial automation, and green energy. During the forecast period, increasing demand from these downstream sectors is expected to drive global growth in the magnetic sensor industry. Furthermore, rapid development in emerging industries such as embodied intelligence and third-generation semiconductors is expected to boost demand and create new growth opportunities worldwide.

Specifically, the accelerated construction of AI data centers has driven rapid growth in power supplies for computing servers using third-generation semiconductors, stimulating huge demand for TMR current sensors. These sensors demonstrate significant advantages in achieving high frequency, high power density, and high precision control. Additionally, magnetic encoders enhance robots’ perception and intelligence, enabling better adaptation to different environments and tasks, thereby promoting widespread applications of embodied intelligence in industrial production, service industries, healthcare, and home life. As a result, the magnetic sensor market is expected to grow at an even faster pace during the forecast period.

Magnetic sensors mainly include motion sensors, current sensors, and others. In 2024, by revenue, motion sensors accounted for 72.8% of the global magnetic sensor market, current sensors 14.9%, and others 12.3%. By 2029, these are expected to be approximately 73.4%, 19.1%, and 7.5%, respectively.

Board of Directors

The board currently consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors.

Sole Sponsor: CITIC Construction Investment Securities Limited

Legal Advisors: Han Kun Law Offices (Limited Partnership), Zhejiang Tiance Law Firm, Stephen Peepels

Sponsor’s Legal Advisors: Tian Yuan Law Firm (Limited Liability Partnership), Beijing Tian Yuan Law Firm

Reporting Accountants and Auditors: Hong Kong Lixin Dehao Certified Public Accountants LLP

Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch

Compliance Advisor: Haode Financing Limited