➀ Innoscience, a leading GaN semiconductor company, has filed for IPO in Hong Kong with a post-E round valuation of $3.4 billion. ➁ Founded by Dr. Luo Weiwei, a former NASA scientist, the company is the first to mass-produce 8-inch silicon-based GaN wafers and offers a full voltage spectrum of products. ➂ Despite being the market leader with a 33.7% share, Innoscience faces significant financial losses, totaling over $6.7 billion in the past three years, due to heavy investments in production facilities and R&D.