National Technology lists on HKEX with opening gain of 41%, China United Life and Xinwangda as cornerstone investors

Leju Finance Liu Zhiying March 23 — Guomin Technology (02701.HK) was listed on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor. The stock opened up 41.39%, with a total market capitalization of HKD 10.355 billion.

For this IPO, Guomin Technology set an issue price of HKD 10.8 per share, issuing 95 million H-shares, raising a total of HKD 1.026 billion. The cornerstone investors include Guohua Life, Harvest Oriental II, Dai Wanqin, An Jiangbo, and Xinwangda Financial, with a total subscription of HKD 140 million.

According to the prospectus, Guomin Technology was founded in 2000. It is a platform-based integrated circuit design company dedicated to providing high-security, high-reliability, and highly integrated control chips and system solutions for various smart devices. The company was listed on the A-share market on April 30, 2010.

According to data from Zhuoshi Consulting, based on 2024 revenue, the company ranks among the top five Chinese companies in the global platform MCU market, and among the top three Chinese companies in the global 32-bit platform MCU market; based on 2024 revenue, the company ranks first in the Chinese MCU market with built-in commercial cryptography algorithm modules.

In terms of performance, from 2022 to 2024 and the first nine months of 2025, Guomin Technology’s revenue was HKD 1.195 billion, HKD 1.037 billion, HKD 1.168 billion, and HKD 958 million, respectively, with net losses of HKD 19 million, HKD 594 million, HKD 256 million, and HKD 76 million.

Guomin Technology previously disclosed its 2025 annual performance forecast, estimating a net profit attributable to the parent of a loss of approximately HKD 98 million to HKD 120 million, compared to a loss of HKD 235 million in the same period last year; net profit after deducting non-recurring gains and losses is expected to be a loss of HKD 120 million to HKD 140 million, compared to a loss of HKD 196 million last year.

Sun Yingtong is the Chairman, Executive Director, and General Manager of Guomin Technology. Before the IPO, Sun Yingtong held approximately 2.65% of the company’s issued share capital, making her the largest single shareholder. After the global offering, she will hold about 2.28% of the company’s issued share capital.

Sun Yingtong, Chairman and General Manager of the company. Chinese nationality, with permanent residence abroad. Born in 1972, with a postgraduate degree, she previously served as Deputy Head of Electronics Business at Guotou, Business Supervisor at Guotou Office, Project Manager at Guotou Light Co., Ltd., Project Manager and Senior Project Manager at Guotou High-Tech. From 2003 to 2005, she served as Deputy General Manager; since 2005, she has been the General Manager; and since May 2018, she has been the Chairman.

In 2024, Sun Yingtong’s salary was RMB 1.7504 million.