Weizhao Semiconductor Files Hong Kong IPO as 2026 Growth Halts, Turns to Loss

According to Zhitong Caijing, Weizhao Semiconductor, China's largest WLCSP MOSFET supplier, submitted a fresh listing application to the Hong Kong Stock Exchange recently. The company, ranked sixth among non-IDM power semiconductor device suppliers in China by 2025 revenue, faces significant momentum headwinds in 2026.

In the first five months of 2026, Weizhao's revenue reached 353 million yuan, up only 1.73% year-over-year, compared to 19% compound growth from 2023-2025. More notably, the company swung to a loss of 5.1 million yuan from a profit of 27 million yuan in the same period last year. Average selling prices declined over 15% during the period, while product shipments grew 25.4%, with WLCSP volumes falling 30% offset by non-WLCSP volumes rising 83.2%. Client concentration remained elevated, with the top five customers accounting for 67.9% of revenue.