Axera Semiconductor Co., Ltd.

Date of Prospectus: January 30, 2026

Axera Semiconductor’s HKEX IPO: Key Terms, Growth Story, and Investor Insights

Axera Semiconductor Co., Ltd. is launching a high-profile IPO on the Hong Kong Stock Exchange, set to attract attention from institutional and retail investors alike. This offering brings a leading China-based semiconductor design company to the public markets, offering exposure to the dynamic AI and edge computing sector. Below, investors will find an in-depth analysis of the offer structure, company fundamentals, deal mechanics, management, allocation, and the strategic outlook based solely on official disclosures.

IPO Snapshot: Offer Structure, Price, and Key Terms

This IPO features a Global Offering structure with public and institutional tranches, a fixed offer price, and a sizable over-allotment option.

Each board lot consists of 100 H Shares. Allotment results and listing information will be available at www.hkexnews.hk and www.axera-tech.com.

Use of Proceeds: Capital Deployment and Strategic Focus

Concrete allocation of IPO proceeds is not disclosed in the announcement. However, the size and structure of the offering, including a significant over-allotment option and a nominal value of RMB1 per H Share, point toward a growth-driven capital raise. Investors can infer that the primary focus is likely on scaling up operations, technology R&D, and fueling capacity expansion, consistent with the company’s positioning in the competitive semiconductor space.

Oversubscription Metrics and Dividend Policy

Oversubscription rates for both the retail and institutional tranches, as well as dividend policy or payout ratio targets, are not specified. Investors should monitor official allocation announcements for up-to-date subscription outcomes and dividend guidance.

Placement Breakdown: Public, Institutional, and Over-allotment Details

The offer is split into a Hong Kong Public Offering (initially 10%) and an International Offering (90%). Reallocation can occur, but the public portion will not exceed 15% of the total offer, while the over-allotment option allows for up to 15% additional issuance if exercised. H Shares may be allocated among retail, institutional, and potentially cornerstone investors, with final proportions announced post-allocation.

Investor Participation and Book Quality Assessment

Specific anchor or institutional investor names, pre-listing disposals, and final subscription levels are not disclosed in the announcement. However, the inclusion of an international tranche and the stabilization mechanism suggests an intent to attract high-quality global investors and manage aftermarket performance.

Deal Parties and Underwriting Structure: Who’s Running the Deal?

The IPO is managed and underwritten by a syndicate of prominent institutions:

• China International Capital Corporation Hong Kong Securities Limited (Stabilizing Manager and Joint Sponsor)
• Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners, and Joint Lead Managers as detailed in the official announcement

The presence of a stabilization manager and a standard over-allotment (greenshoe) option supports aftermarket stability, potentially reducing volatility and supporting listing-day performance.

Company Overview: Business Model, Products, and Market Position

Axera Semiconductor Co., Ltd. is a leading China-based joint stock company focused on semiconductor design and technology innovation. The company’s core business model, product lineup, key revenue streams, target customer segments, and operational geographies are not detailed in the announcement. The sector is indirectly referenced as semiconductor design, with a likely emphasis on AI, edge computing, and advanced processing solutions, inferred from industry context.

Management Team and Board Composition

Axera’s Board features experienced executives and industry professionals, with a clear leadership transition ahead of the IPO:

• Dr. QIU Xiaoxin – Chairperson of the Board & Executive Director
• Other executive directors: Mr. SUN Weifeng, Mr. SHI Xiaoye, Mr. WANG Yuan, Mr. ZHAO Changhua (to resign upon listing), Mr. LIU Jianwei (to resign upon listing)
• Non-executive directors: Mr. ZHOU Siyuan, Mr. GU Kaining, Ms. BAI Ting, Mr. WANG Chen, Mr. ZHOU Zhifeng (to resign upon listing)
• Proposed independent non-executive directors: Ms. TAN Ren, Mr. LI Jun, Dr. WANG Xin, Prof. CHEN Xin

Several directors have tendered resignations effective upon listing, indicating board refreshment and governance alignment for public company status.

Trends, Timing, and Market Environment: Why Now?

The IPO is strategically timed amid robust demand for advanced semiconductors and AI-driven solutions in China and globally. The offer period is longer than normal (January 30 to February 5, 2026), potentially to accommodate heightened investor interest and ensure broad participation. The trading debut is scheduled for February 10, 2026, providing investors with a clear and prompt settlement timeline.

• Offer opens: 9:00 a.m. January 30, 2026
• Offer closes: 12:00 noon February 5, 2026
• Listing and trading commence: 9:00 a.m. February 10, 2026

Macro indicators and sectoral environment are not extensively discussed, but the context suggests an equity market receptive to new economy listings and growth tech themes.

Risk Factors: Key Exposures and Considerations

Major risk factors are referenced but not detailed in the announcement. Investors should review the full prospectus for specific legal, regulatory, operational, and market risks, including any quantified exposures, customer or supplier concentration, and regulatory compliance matters.

Growth Strategy and Expansion Plans

While explicit growth strategies and capex plans are not outlined in the announcement, the significant size of the IPO and expected use of proceeds imply a focus on R&D, capacity expansion, and new product pipeline development. The company’s positioning as a semiconductor innovator indicates a forward-leaning, growth-oriented approach.

Ownership, Lock-Ups, and Employee Incentives

Pre- and post-IPO shareholding structure, promoter/major shareholder holdings, and ESOP/lock-up terms are not disclosed in the announcement. Investors should consult the full prospectus for these governance and alignment details.

Listing Outlook: Should Investors Participate?

Based on the disclosed details, Axera Semiconductor’s IPO is characterized by a substantial offer size, robust deal syndicate, and clear mechanisms for aftermarket stabilization. The longer-than-usual offer period, presence of an over-allotment option, and high-profile joint sponsors suggest well-managed bookbuilding and potential for strong first-day trading dynamics. Investors seeking exposure to China’s semiconductor growth narrative may find this IPO compelling, but should review the full prospectus and monitor final allocation and pricing updates.

Where to Access the Full Prospectus and Key Documents

Investors can review the full details at: www.hkexnews.hk and www.axera-tech.com

How to Apply: Application Channels and Key Dates

Applications for Hong Kong Offer Shares can be made via the following electronic channels:

No physical application channels are available. The minimum application size is 100 H Shares, with multiples thereof. Application steps and further details are available on www.eipo.com.hk and from participating brokers.

Axera Semiconductor’s Hong Kong IPO provides investors with a unique opportunity to participate in the rapidly evolving semiconductor sector. With a transparent offer structure, credible deal syndicate, and clear electronic application paths, the deal is positioned for substantial market interest. Prospective investors should review official documents at www.hkexnews.hk and www.axera-tech.com for comprehensive information and allocation outcomes.