Huawei's Semiconductor Investee 3PEAK Starts Trading on Star Market

Technology Author: Beier Kan, Dixuan Lu Editor: Luke Sheehan Sep 22, 2020 02:38 PM (GMT+8)

The analog IC products and service provider 3PEAK's first showing on the Shanghai STAR market saw the stock price up by 77% compared to the opening price – this demonstrates Chinese investors' confidence in home technology development.

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Set up in 2012, the Suzhou-based semiconductor company 3PEAK (688536:SH), is the supplier for Huawei, Samsung (005930:KR), ZTE (000063:SZ, 00763:HK), Hikvision (002415:SZ) and iFlytek (002030:SZ), among which Huawei is the company's biggest customer and contributes around 60% of its total revenue.

During the fiscal year of 2019, the company realized a total revenue of CNY 304 million, presenting a significant growth of 167% year-over-year. The growth was mainly driven by its main business of analogy signal chain products supplied to Huawei. The company has become a global supplier of analog IC products for the 5G communication equipment. In the last three years, over 97% of revenues were contributed by sales of analog signal chain products. The proportion of power management analog chip businesses is increasing, accounting for 2% of revenues in 2019.

As the first Huawei Hubble investee to go public, 3PEAK started trading on the Shanghai STAR market on September 21 at a public offering price of CNY 115.71. By September 22, the price had risen to CNY 233 per share and the market cap reached CNY 18.68 billion.