--- title: "Changguang Chenxin has obtained IPO filing: Revenue of 570 million in the first 9 months, profit of 150 million during the period, Hillhouse is a shareholder" type: "News" locale: "en" url: "https://longbridge.com/en/news/279103564.md" description: "Changchun Changguang Chenshin Microelectronics Co., Ltd. (Changguang Chenshin) has obtained IPO registration and plans to list in Hong Kong. The company's revenue for the first 9 months was 565 million yuan, with a profit of 146 million yuan. Changguang Chenshin focuses on high-performance CMOS image sensors, with major shareholders including Aopu Optoelectronics and Lingyun Optics. The prospectus shows that the expected revenue for 2022, 2023, and 2024 is 600 million yuan, 605 million yuan, and 673 million yuan, respectively, with a declining gross profit margin year by year" datetime: "2026-03-14T01:05:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279103564.md) - [en](https://longbridge.com/en/news/279103564.md) - [zh-HK](https://longbridge.com/zh-HK/news/279103564.md) --- # Changguang Chenxin has obtained IPO filing: Revenue of 570 million in the first 9 months, profit of 150 million during the period, Hillhouse is a shareholder Leidi Network, Lei Jianping, March 14 Changchun Changguang Chuangxin Microelectronics Co., Ltd. (referred to as "Changguang Chuangxin") has recently obtained IPO filing approval, securing the key to listing on the Hong Kong Stock Exchange. In June 2023, Changguang Chuangxin submitted a prospectus for the A-share market, originally planning to raise 1.557 billion yuan, but after a year and a half, Changguang Chuangxin's attempt to sprint for the Sci-Tech Innovation Board failed. Subsequently, Changguang Chuangxin shifted its focus to the Hong Kong Stock Exchange. Aopu Optoelectronics holds 25.56%, and Lingyun Optoelectronics holds 10.22%, both of which are significant shareholders. Aopu Optoelectronics (stock code: 002338.SZ) is a listed company on the Shenzhen Stock Exchange, with Changchun Institute of Optics and Fine Mechanics owning 41.40% of Aopu Optoelectronics, making it the actual controller. Lingyun Optoelectronics (stock code: 688400.SH) is a listed company on the Shanghai Stock Exchange. 48.55% of Lingyun Optoelectronics' shares are beneficially owned by the company's non-executive director, Ms. Yang Yi, of which 5.11% is directly held by Ms. Yang, and the remaining 43.44% is deemed beneficially owned by Ms. Yang due to her spouse, Yao Yi, holding shares. Revenue of 565 million in the first 9 months, with a profit of 146 million Changguang Chuangxin is a provider of high-performance CMOS image sensors (CIS). The company has been focused on the research and development of high-performance CMOS image sensors, offering nine major product lines that are widely applicable in industrial imaging, scientific imaging, professional imaging, and medical imaging fields. The prospectus shows that Changguang Chuangxin's revenue for 2022, 2023, and 2024 is projected to be 600 million yuan, 605 million yuan, and 673 million yuan, respectively; gross profit is projected to be 460 million yuan, 384 million yuan, and 400 million yuan, with gross margins of 76.2%, 63.5%, and 59%, respectively; net profit for the year is projected to be -84.1 million yuan, 170 million yuan, and 197 million yuan, with net profit margins of -13.9%, 28.1%, and 29.3%, respectively. In the first 9 months of 2025, Changguang Chuangxin's revenue was 565 million yuan, a 23% increase from 458 million yuan in the same period last year; gross profit was 363 million yuan, compared to 254 million yuan in the same period last year; gross margin was 64.2%; net profit for the period was 146 million yuan, with a net profit margin of 26.1%. Changguang Chenchip's adjusted net profits for 2022, 2023, and 2024 are expected to be 293 million yuan, 223 million yuan, and 249 million yuan, respectively; the adjusted net profit for the first 9 months of 2025 is 207 million yuan. Hillhouse Capital is a shareholder. The executive directors of Changguang Chenchip are Dr. Wang Xinyang, Dr. Zhang Yanxia, and Ms. Wu Qinyun; the non-executive directors are Ms. Yang Yi, Dr. Chu Hairong, and Dr. Xiong Jingying; the independent non-executive directors are Dr. Wang Xinlu, Dr. Xie Ning, and Dr. Gao Teng. The controlling shareholder of Changguang Chenchip is Wang Xinyang, and the actual controllers are Wang Xinyang and Zhang Yanxia, who together directly and indirectly control 49.53% of the company's shares. Wang Xinyang, born in 1980, graduated from Zhejiang University with a bachelor's degree in Applied Electronic Technology; he holds a master's degree in Microelectronics from the University of Southampton, UK; and a Ph.D. in Microelectronics and CMOS Image Sensor Design from Delft University of Technology, Netherlands. From May 2008 to November 2008, he served as an Electrical Design Engineer at CYPRESS Semiconductor; from November 2008 to August 2012, he was a CMOSIS Image Sensor Expert. From September 2012 to April 2021, Wang Xinyang served as the company's director, general manager, and CEO; from August 2012 to April 2022, he held a personnel relationship at the Changchun Institute of Optics, Fine Mechanics and Physics, Chinese Academy of Sciences, as a researcher and doctoral supervisor; since April 2021, he has been the chairman, general manager, and CEO of the company. Zhang Yanxia, female, born in 1979, holds permanent residency in the Republic of Vanuatu, graduated from Zhejiang University with a bachelor's degree in Electronic Engineering; she holds a master's degree in Electronic Engineering from Concordia University, Canada; and a Ph.D. in Applied Physics from Delft University of Technology, Netherlands. From July 2008 to December 2010, she served as an Experimental Physicist at Mapper Lithography; from December 2010 to February 2013, she was a Scientist at Philips Research Europe; from February 2013 to August 2018, she served as the company's Marketing Director; from August 2018 to December 2022, she was the company's Chief Operating Officer; since December 2022, she has been the company's director, deputy general manager, board secretary, and chief operating officer. Dr. Wang Xinyang holds 27.36%, Aopu Optoelectronics holds 25.56%, Zhuhai Yuncheng holds 14.27%, Lingyun Optics holds 10.22%, Zhuhai Xuchen holds 6%, Dr. Ma Cheng holds 2.63%, Dr. Yan Xia holds 1.91%, Zhuhai Qixin and Hillhouse Yurun each hold 1.5%, Advanced Manufacturing holds 1.2%; Guoce Xiangchi holds 1.1%, Xiamen Yuanfeng and Huashun Guangzhou each hold 1%, Liu Yang and Li Yang each hold 0.61%, Shenzhen Jiusi holds 0.6%, Juyuan Xincheng holds 0.5%; Qin Hao and Wuhu Tuocheng each hold 0.4%, Suzhou Fangguang holds 0.36%, Yibin Chenda holds 0.27%, Shengyu Huatian and Zhongke Chuangxing each hold 0.2%, Changzhou Fangguang holds 0.14%, Pingyang Yuanxin, Zhongke Xiandao, and Donghu Guolong each hold 1%. ——————————————— ### Related Stocks - [03277.HK](https://longbridge.com/en/quote/03277.HK.md) ## Related News & Research - [Gpixel Changchun Microelectronics says offer price HK$39.88 per H share in global offering](https://longbridge.com/en/news/282116411.md) - [MIC Electronics Publishes EGM Notice Ahead of April 29 Meeting](https://longbridge.com/en/news/282152523.md) - [Seyond's Q1 LiDAR Shipment Volume Soars 340%](https://longbridge.com/en/news/282039575.md) - [Bain Capital Data Center Business Severs Ties With Nvidia Buyer Following US Investigation](https://longbridge.com/en/news/282018287.md) - [The Xiaomi 17 Ultra has some impressive add-ons that make snapping photos really fun](https://longbridge.com/en/news/281737153.md)