[China's Storage Unicorn Shenzhen Hongxinyu Submits IPO Application to HKEX] BlockBeats News, July 3: According to HKEX documents, China's storage unicorn Shenzhen Hongxinyu Electronics Co., Ltd. has submitted an IPO application to the Hong Kong Stock Exchange, with CITIC Securities International serving as the sole sponsor. The company plans to raise funds for product development, main control chip iteration, and capacity expansion. Shenzhen Hongxinyu Electronics Co., Ltd. (referred to as 'Hongxinyu') was established in 2018 and is a rapidly rising independent storage manufacturer in China. It has become the fifth largest globally and the second largest in mainland China. The company specializes in embedded storage (eMMC/America), solid-state drives (SSD), mobile storage, and DRAM modules, which are widely used in consumer electronics, automotive electronics, AI/data centers, and other fields. Its products have entered the supply chains of Xiaomi, OPPO, vivo, TCL, and have received automotive-grade certification. After its Series D financing in 2023, the company's post-investment valuation reached approximately 10.8 billion yuan, with investors including TCL, Ting Hsin International Group, and others.