Beijing (ZXZC)- On April 22nd, China’s automotive chip supplier NOVOSENSE officially started trading on the STAR Market board of the Shanghai Stock Exchange. 

Photo credit: NOVOSENSE

Founded in 2013, NOVOSENSE is an analogue integrated circuit developer in Jiangsu province. The company has developed a comprehensive product portfolio in MEMS sensors, high voltage isolation, mixed-signal chain processing, and sensor calibration. Up to now, the company has over 800 products for sale, covering the communications, industrial control, automotive electronics, and consumer electronics fields. 

As a relatively late comer into the automotive electronics field, NOVOSENSE’s solid experience in auto-grade chip R&D, mass production, and quality control has already won over multiple domestic enterprises within the auto supply chain. 

For example, well-known companies such as BYD, Great Wall Motor, Dongfeng Motor, and CATL have adopted NOVOSENSE’s chips onto vehicles. Meanwhile, the company has become a member of the supplier system of SAIC Volkswagen and UAES.

According to NOVOSENSE’s IPO prospectus, the company aimed to raise RMB750 million ($115.35 million) through the IPO for its signal chain chip R&D project, and constructing an R&D center revolving automotive chips. 

However, the company has actually raised RMB5.81 billion ($893.61 million) through the IPO, marking the second largest over-raised amount on the STAR Market board in Shanghai.