A-share subscription | Youxun Co., Ltd. (688807.SH) opens subscription and ranks first in China in the market share in the 10 Gbps and below product segment
The Zhitong Finance App learned that on December 8, Youxun shares (688807.SH) began subscription. The issuance price was 51.66 yuan/share, the maximum subscription limit is 0.45 million per share, and the industry's price-earnings ratio is 60.27 times. It belongs to the Shanghai Stock Exchange, and CITIC Securities is its sponsor.
According to the prospectus, as a “national manufacturing single champion enterprise” in the domestic optical communication field, Youxun Co., Ltd. focuses on R&D, design and sales of optical communication front-end transceiver and power generation chips. The company's products are widely used in optical modules (including optical transceiver components, optical modules and optical terminals). Application scenarios cover fields such as access networks, 4G/5G/5G-A wireless networks, data centers, metropolitan area networks and backbone networks.
Since its establishment in February 2003, Youxun Co., Ltd. has formed a complete core technology system in the field of optical communication and electronic chip design, and has achieved breakthroughs in localization technology in key fields such as integrated transceiver, high-speed modulation, and optoelectronic collaboration. The company adheres to forward design, has deep sub-micron CMOS, germanium silicon Bi-CMOS dual-process design and integrated R&D capabilities, and has mastered a full set of technologies such as bandwidth expansion, impedance matching, and signal integrity compensation. It has now achieved batch shipments of 155 Mbps to 100 Gbps rate optical communication electronic chip products, and is actively developing 50G PON transceiver chips, 400Gbps and 800Gbps data center transceiver chips, 4-channel 128Gbaud coherent transceiver chips and FMCW lidar front-end batteries A series of new products such as chips and automotive optical communication electronic chips.
Driven by independent innovation, Youxun Co., Ltd. has successfully broken through high-speed and highly integrated optical communication electronic chip design technology barriers by independently or leading a number of major national scientific research projects, including the Ministry of Science and Technology's “863 Plan”, the Ministry of Science and Technology's “National Science and Technology Key Research and Development Program Project”, and has become one of the few enterprises in China that can provide a full range of application scenarios and optical communication electronic chip solutions for a full range of products. The company replaced similar products from leading international electronic chip companies in terms of product performance and technical indicators, and successfully entered the supply chain systems of many well-known customers around the world. According to ICC data, in 2024, the company ranked first in China and second in the world in the market share of 10 Gbps and below in the product segment.
At the same time, the company is actively deploying a series of new products with high added value, including 50G PON transceiver chips for 10 gigabit fixed network access scenarios, 400Gbps and 800Gbps transceiver chips for data center scenarios, 4-channel 128Gbaud coherent transceiver chips, FMCW lidar front-end electronic chips based on terminal side application scenarios, and automotive optical communication electronic chips.
On the financial side, in 2022, 2023, 2024, and January-June 2025, the company achieved operating income of 339 million yuan, 313 million yuan, 411 million yuan, and 239 million yuan; in the same period, it recorded net profit of 81.3984 million yuan, 78.664 million yuan, and 469.588 million yuan.