# Yixin Technology
Yixin Technology, formally Shanghai Yixin Communications Technology Co., Ltd. (移芯通信), is a Chinese fabless semiconductor company that designs cellular IoT chips, including [NB-IoT](https://www.edgepedia.org/narrowband-iot), Cat.1bis (mid-speed 4G cellular standard for IoT devices), and LTE Cat.4 devices, for applications such as smart metering, mobile payments, wearables, and AI smart devices.[1](https://www.gmt8press.com/content/detail/430004) The company is active and growing: it resubmitted a listing application to the [Hong Kong Stock Exchange](https://www.edgepedia.org/hong-kong-stock-exchange) with financials disclosed through the first half of 2026, reporting RMB 689 million of 2025 revenue and 144 million chips shipped.[1](https://www.gmt8press.com/content/detail/430004)
| Key facts | |
|---|---|
| Legal name | Shanghai Yixin Communications Technology Co., Ltd. (移芯通信)[1](https://www.gmt8press.com/content/detail/430004) |
| Sector | Fabless cellular IoT chip design (NB-IoT, Cat.1bis, LTE Cat.4)[1](https://www.gmt8press.com/content/detail/430004) |
| 2025 revenue | RMB 689 million, up 24.8% year on year[1](https://www.gmt8press.com/content/detail/430004) |
| Global standing | Third by revenue (3.9% share); 20.4% of global chip shipments by volume[1](https://www.gmt8press.com/content/detail/430004) |
| IPO status | Resubmitted Hong Kong main-board application; CITIC Securities International as exclusive sponsor[2](https://boardor.com/blog/cellular-communication-chip-manufacturer-files-for-ipo-on-hong-kong-stock-exchange-develops-in-house-ai-accelerator-to-expand-terminal-application-scenarios) |
| Profitability | Net loss of RMB 16 million in 2025; RMB 39 million loss in H1 2026[1](https://www.gmt8press.com/content/detail/430004) |
## What Yixin Technology does
Yixin is a fabless chip design company: it designs cellular communication silicon and outsources fabrication. Its product matrix covers three speed tiers of cellular IoT connectivity, NB-IoT for low-power, low-data applications, Cat.1bis for mid-range connections, and LTE Cat.4 for higher bandwidth, with end applications in smart metering, mobile payments, wearables, and AI smart devices.[1](https://www.gmt8press.com/content/detail/430004)
According to the company, it is the first in the industry to achieve integrated design of baseband, RF, power management IC (PMIC), memory, and power amplifier in one design.[2](https://boardor.com/blog/cellular-communication-chip-manufacturer-files-for-ipo-on-hong-kong-stock-exchange-develops-in-house-ai-accelerator-to-expand-terminal-application-scenarios) It is also developing an in-house AI accelerator to expand into terminal application scenarios.[2](https://boardor.com/blog/cellular-communication-chip-manufacturer-files-for-ipo-on-hong-kong-stock-exchange-develops-in-house-ai-accelerator-to-expand-terminal-application-scenarios)
## Funding
No funding round is established by the sources retrieved for this article. Round-by-round detail, the lead investor of any round, and any valuation are not established by the sources retrieved for this article; the investor names sometimes associated with the company in Chinese press round-ups are not independently verified here.
## By the numbers
Revenue has grown steadily while profitability has swung between loss and thin profit:[1](https://www.gmt8press.com/content/detail/430004)
- Revenue: RMB 533 million (2023), RMB 552 million (2024, +3.6%), RMB 689 million (2025, +24.8%), RMB 416 million in H1 2026 (+23.3% year on year).
- Net result: a loss of RMB 159 million in 2023, a profit of RMB 12 million in 2024, a loss of RMB 16 million in 2025, and a loss of RMB 39 million in H1 2026.
- [Gross margin](https://www.edgepedia.org/gross-margin): 8.9% (2023), 22.3% (2024), 18.3% (2025), 7.8% in H1 2026. Chip-sales gross margin fell to 4.2% in H1 2026 from 11.4% a year earlier.
The margin swings reflect a price war in the Cat.1bis segment. Between 2023 and 2025, the average selling price of Yixin's NB-IoT chip fell from 5.0 to 4.1 (about an 18% decline), and the Cat.1bis chip's price fell from 7.7 to 4.5, a drop of over 40%. Yixin responded with volume: Cat.1bis sales grew from 44.11 million units in 2023 to 105 million units in 2025.[1](https://www.gmt8press.com/content/detail/430004)
The market context explains both the opportunity and the squeeze. Global cellular communication chip shipments reached 703 million units in 2025, a market of about USD 16.25 billion by revenue, and China's cellular IoT connections reached 2.9 billion in 2025.[1](https://www.gmt8press.com/content/detail/430004) Within that market, a Frost & Sullivan report cited in Yixin's prospectus ranks the company third by revenue with a 3.9% share, while its 144 million chips shipped represented 20.4% of global shipments by volume.[1](https://www.gmt8press.com/content/detail/430004) The gap between the two shares is the price war in numbers: Yixin sells roughly a fifth of the world's cellular IoT chips but captures under a twenty-fifth of the revenue.
## Business, customers and traction
Yixin's core business is chip sales at very thin margins. A second segment, IP licensing and design services, carries a gross margin above 97% but depends on a single leading global semiconductor customer, referred to in the prospectus as "Customer Q"; that segment's revenue fell from RMB 45 million in H1 2025 to RMB 16 million in H1 2026.[1](https://www.gmt8press.com/content/detail/430004) The sources retrieved do not name module-maker customers or specific design wins.
## Status and outcome: the Hong Kong IPO push
Yixin remains an independent, operating company. It has resubmitted a listing application to the Hong Kong Stock Exchange main board, with CITIC Securities International as exclusive sponsor.[2](https://boardor.com/blog/cellular-communication-chip-manufacturer-files-for-ipo-on-hong-kong-stock-exchange-develops-in-house-ai-accelerator-to-expand-terminal-application-scenarios) The filing shows a company whose revenue is growing at over 23% but which returned to losses in 2025 and widened them in H1 2026.[1](https://www.gmt8press.com/content/detail/430004)
## Recent developments
In 2024 the company briefly turned profitable on recovering margins; the renewed Cat.1bis price war then erased both, with chip gross margins at 4.2% by H1 2026.[1](https://www.gmt8press.com/content/detail/430004) The prospectus outlines the strategic response: extending into higher-speed products such as LTE Cat.4 and 5G RedCap to escape low-margin competition in the mid- and low-speed segments.[1](https://www.gmt8press.com/content/detail/430004)
## References
1. GMT EIGHT, "IPO Outlook | Cellular Communication Chip Leader Yixin Communication Races for Hong Kong Stock Market", https://www.gmt8press.com/content/detail/430004
2. Electronic Enthusiasts Network / Boardor, "Cellular Communication Chip Manufacturer Files for IPO on Hong Kong Stock Exchange, Develops In-house AI Accelerator", https://boardor.com/blog/cellular-communication-chip-manufacturer-files-for-ipo-on-hong-kong-stock-exchange-develops-in-house-ai-accelerator-to-expand-terminal-application-scenarios
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*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Business and work overview › Companies and corporations › Venture-backed startups and growth companies › Deep-tech, hardware, industrial, climate, and mobility startups › Semiconductors and chip equipment › Fabless chip designers*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license