NSING Technologies Inc. (02701.HK) has launched its initial public offering (IPO) in Hong Kong, with the subscription period running from March 13 to March 18, 2026. The company plans a global offer of 95 million H shares at an upper limit price of HKD 10.80 per share. Each board lot consists of 200 shares, with an estimated minimum subscription amount of approximately HKD 2,181.78. The stock is expected to debut on the Main Board on March 23. CITIC Securities (Hong Kong) Limited acts as the sole sponsor of the offering.

NSING Technologies: Top 5 Platform-Oriented MCU Players in China

Offering Breakdown: Approximately 10% (9.5 million shares) of the shares will be offered to the public in Hong Kong, and approximately 90% (85.5 million shares) will be allocated internationally.

Offer Details: Upper limit price of HKD 10.80 per share; 200 shares per board lot; estimated minimum subscription amount of HKD 2,181.78.

Key Timeline: Subscription Period: March 13–18, 2026 (expected pricing date: March 19, 2026). Listing Date: March 23, 2026.

IPO Sponsor: CITIC Securities (Hong Kong) Limited.

Company Overview

NSING Technologies is a platform-oriented integrated circuit design company that provides control chips and system-level solutions for a wide range of smart terminals, including consumer electronics, industrial control, digital energy, and automotive electronics. The company is also engaged in the lithium battery anode materials business. According to data from Analysys, based on 2024 revenue, NSING Technologies ranks among the top five Chinese enterprises in the global platform-oriented MCU market, is among the top three Chinese companies in the 32-bit platform-oriented MCU segment, and is the leading Chinese MCU provider with built-in commercial cryptographic modules.

Financial Information

According to the IPO prospectus, NSING Technologies recorded revenue of approximately RMB 1.195 billion, RMB 1.037 billion, and RMB 1.168 billion for 2022–2024, respectively, with corresponding net losses of approximately RMB 19 million, RMB 594 million, and RMB 256 million. In the first three quarters of 2025, the company recorded revenue of approximately RMB 958 million and a net loss of approximately RMB 76 million.Assuming an offer price at the upper limit of HKD 10.80 per share and no exercise of the over-allotment option, the company expects to raise net proceeds of approximately HKD 944 million. The funds are intended to be used for enhancing R&D capabilities and developing new product series (approximately 50.8%), upgrading existing product portfolios (approximately 9.2%), making strategic investments and acquisitions (approximately 15.0%), repaying certain bank loans (approximately 15.0%), and replenishing working capital (approximately 10.0%).

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

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* 0 % interest applies to margin subscription amounts of HK$20 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 5 December 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for NSING Technologies via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select NSING Technologies, tap "Public Offer," enter your subscription quantity, and submit your order.

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