BRIEF: Senasic launches $125 million Hong Kong IPO

Automotive chip designer Senasic Electronics Technology Co. Ltd. (6675.HK) launched its Hong Kong IPO on Tuesday, with subscriptions open through Friday. The company plans to sell 53.41 million shares for HK$18.36 each to raise HK$980 million ($125 million). The shares are scheduled to begin trading on June 17.

Founded in Shanghai in 2015, Senasic’s portfolio includes intelligent tire sensing chips, battery management system (BMS) chips and universal sensor interface (USI) chips. Citing third-party market data, the company said it was the world’s third-largest automotive wireless sensor system-on-chip (SoC) supplier and China’s largest automotive wireless sensor SoC supplier by revenue in 2025.

The company reported revenue of 478 million yuan ($66.6 million) in 2025, up 37.5% year-on-year. Its net loss narrowed 5.9% to 331 million yuan during the year.

The company plans to use 40% of the IPO proceeds to expand operations and accelerate the commercialization of new products. Another 30% will go to research and development, while 10% will be used to expand its domestic and overseas sales networks. A further 10% will be earmarked for strategic investments and acquisitions, with the remaining 10% for working capital and general corporate purposes.

By Lee Shih Ta

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