Nazha Technology updates IPO prospectus: net profit to increase by 875% in 2025, Hisense Group President Yu Zhitao appointed as Chairman

Crypto Finance Wu Wenting On March 5, Naxin Technology Co., Ltd. (hereinafter referred to as “Naxin Technology”) updated its IPO prospectus and continues to push for listing on the Hong Kong Stock Exchange, with Citigroup and CITIC Securities serving as joint sponsors.

Naxin Technology is a global provider of optical communication and optical connection products, dedicated to the research, development, manufacturing, and sales of optical modules, optical chips, and optical network terminals.

In 2024, based on global optical module revenue, the company holds a 2.9% market share, ranking fifth among all professional optical module manufacturers worldwide; based on China optical module revenue, it holds a 7.2% market share, ranking third globally among all professional optical module manufacturers.

According to the prospectus, from 2023 to 2025, Naxin Technology is expected to achieve revenues of 4.239 billion yuan, 5.087 billion yuan, and 8.355 billion yuan respectively; net profits are projected to be 216 million yuan, 89.49 million yuan, and 873 million yuan respectively. Notably, by 2025, its revenue is expected to grow by 64.25% year-on-year, and net profit by 875.13%.

Before the IPO, Hisense Group directly or indirectly through its subsidiary Century Jinlong held a total of 394,224,950 shares, accounting for approximately 48.61% of the company’s issued shares.

Hisense Group is headquartered in Qingdao, China. It is a Chinese multinational technology group with a global business network established through integrated research, development, production, and sales. Its business covers multiple sectors, focusing on smart living, smart energy, semiconductors, and automotive electronics.

Currently, the company’s board of directors consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors. Among them, Yu Zhitao serves as a non-executive director and chairman of the board.

According to information, Yu Zhitao, 49, is a non-executive director and chairman of the board. He was appointed as a director in December 2021 and served as chairman from December 2021 to April 2023. In May 2025, Yu Zhitao was reappointed as chairman. He is mainly responsible for providing guidance and opinions on corporate and business strategies and presiding over board meetings.

Since May 2023 and July 2023, Yu Zhitao has served as a director and CEO of Hisense Group Holdings; since April 2019 and February 2023, he has served as director and chairman of Hisense Visual Technology Co., Ltd. (Hisense Visual); since March 2023, he has been a director of Sanden Corporation; and since April 2023, he has been an executive director of Hisense Home Appliances Group Co., Ltd. (Hisense Appliances).

From February to July 2023, Yu Zhitao served as Executive Vice President of Hisense Group Holdings; from January 2019 to February 2023, he was President of Hisense Visual; from September 2016 to January 2019, he was General Manager of Juhuaikan Technology Co., Ltd.; from March 2008 to September 2016, he was Deputy General Manager and General Manager of Qingdao Hisense Media Network Technology Co., Ltd.; from May 2005 to March 2008, he was Deputy General Manager of Qingdao Hisense Mobile Communication Technology Co., Ltd.; and from July 1998 to May 2005, he worked as a R&D engineer at Hisense Group Co., Ltd.

Yu Zhitao obtained a bachelor’s degree in optical technology and optoelectronic instruments from Zhejiang University in China in June 1998.