Core Viewpoint - Naxin Micro has launched the integrated magnetic chip (IMC) automotive angle sensor chip MT652x series, which enhances precision in angle position and linear displacement detection [1] Group 1: Product Features - The MT652x series chips provide excellent multi-plane angle position and linear displacement detection capabilities [1] - These chips comply with AEC-Q100 Grade-0 automotive standards and ISO26262 ASIL B functional safety standards, ensuring accurate measurement of position changes [1] Group 2: Applications - The MT652x series chips offer real-time and reliable position information for critical automotive components such as accelerator pedals, steering wheel angles, electronic shifters, and various valve control systems [1] - The implementation of these chips aids in achieving more precise tuning of vehicle control systems, thereby enhancing driving safety and comfort [1]

该系列产品通过集成先进的磁性传感敏感单元与ASIC技术，能够精准监测车轮转速，为防抱死制动系 统（ABS）、车身电子稳定系统（ESP）以及电动转向助力系统（EPS）等控制系统提供了有力支持， 显著提升了车辆在复杂工况下的安全性和稳定性。 证券时报e公司讯，近日，纳芯微宣布推出全新基于AMR（各向异性磁阻技术）的轮速传感器NSM41xx 系列。 ...

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company's 24Q4 performance is expected to continue improving, with a projected revenue of 5.34~6.34 billion yuan, representing a year-on-year growth of 72.20%~104.45% and a quarter-on-quarter growth of 3.27%~22.61% [1][2] - The company is expected to achieve a revenue of 19~20 billion yuan in 2024, a year-on-year increase of 44.94%~52.56%, driven by robust demand in the automotive electronics sector, with automotive chip shipments exceeding 270 million units and automotive business revenue accounting for over 35% [1] - The company's net profit attributable to the parent company is expected to be -4.4~-3.6 billion yuan in 2024, with a year-on-year reduction of 0.55~1.35 billion yuan, primarily due to macroeconomic factors and intensified market competition leading to pricing pressure and a decline in gross margin [1] Financial Performance and Projections - The company's revenue for 2024 is projected to be 19.20 billion yuan, with a growth rate of 46.5%, and is expected to reach 28.42 billion yuan in 2025 and 35.81 billion yuan in 2026 [12] - The net profit attributable to the parent company is forecasted to be -3.99 billion yuan in 2024, 0.35 billion yuan in 2025, and 2.02 billion yuan in 2026, with growth rates of -30.6%, 108.7%, and 482.4% respectively [12] - The company's gross margin is expected to be 33.2% in 2024, 37.0% in 2025, and 39.6% in 2026 [11] Business Development and Strategy - The company has expanded its product portfolio in the automotive market, covering applications such as thermal management, battery packs, and smart cabins, with new products like LED drivers for automotive headlights and ABS wheel speed sensors expected to be launched by 2025 [4] - The company has completed the acquisition of MagnTek, holding 100% of its shares, and has entered into a strategic partnership with Continental AG to develop automotive pressure sensor chips [4] - The company has launched the NS800RT series of real-time control MCUs, targeting applications in photovoltaic/storage inverters, industrial automation, and collaborative robots, with a focus on high-quality, high-performance, and supply chain reliability [10] Market Position and Competitive Advantage - The company has established core technologies in multiple fields, including sensors, signal chains, power management, and third-generation power semiconductors, with a continuous expansion of product offerings and accelerated market penetration of competitive new products [12] - The company's real-time control MCUs are positioned to avoid homogenized competition due to the high barriers to entry in terms of quality, performance, and supply chain requirements, with a domestic market penetration rate significantly lower than the average 10% for automotive chips [10]

证券代码：688052 证券简称：纳芯微 公告编号：2025-002 苏州纳芯微电子股份有限公司 2024 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 2023 年度营业收入 131,092.72 万元。2023 年度归属于母公司所有者的净利 润-30,533.48 万元。2023 年度扣除非经常性损益后归属于母公司所有者的净利润 -39,312.07 万元。2023 年度利润总额-29,705.97 万元。2023 年度每股收益-2.15 元。 三、本期业绩变化的主要原因 （二）业绩预告情况 1.经财务部门初步测算，公司预计 2024 年度实现营业收入 190,000.00 万元 至 200,000.00 万元，较上年同期相比，将增加 58,907.28 万元至 68,907.28 万元， 同比增长 44.94%至 52.56%。 2.公司预计 2024 年度实现归属于母公司所有者的净利润-44,000.00 万元至 -36,000.00 万元，较上年同期相比，将减少 5,466.52 万元至 13, ...

芯片股17日盘中强势拉升，截至发稿，圣邦股份、清溢光电20%涨停，芯朋微、和林微纳涨超15%，纳 芯微、杰华特、虹软科技等涨超10%，生益科技、康强电子、瑞芯微等亦涨停。 消息面上，昨日，商务部新闻发言人就国内有关芯片产业反映自美进口成熟制程芯片低价冲击国内市场 事答记者问。商务部发言人表示，国内有关芯片产业反映，一段时间以来，拜登政府对芯片行业给予了 大量补贴，美企业因此获得了不公平竞争优势，并对华低价出口相关成熟制程芯片产品，损害了中国国 内产业的合法权益。中国国内产业的担忧是正常的，也有权提出贸易救济调查申请。对于国内产业的申 请及诉求，调查机关将按照中国相关法律法规，遵循世贸组织规则进行审查，并将依法启动调查。 此外，中国半导体行业协会昨日发文称，近期，业界向中国商务部反映，国内有关成熟制程芯片产业正 面临来自美国进口产品的不公平竞争挑战，有申请反倾销反补贴调查的诉求。一段时间以来，美拜登政 府对本国芯片行业施以巨额补贴，使得美企在市场竞争中占据不平等优势，并以低价向中国出口芯片产 品，严重损害了中国国内产业的合法权益。 半导体产业的稳健发展，离不开一个公平竞争的市场环境。我们坚定支持在中国发展的内外 ...

证券代码：688052 证券简称：纳芯微 公告编号：2025-001 苏州纳芯微电子股份有限公司 关于持股 5%以下股东减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 股东持股的基本情况 截至本公告披露日，苏州纳芯微电子股份有限公司（以下简称"公司"）股东 持股情况如下： 1、苏州国润瑞祺创业投资企业（有限合伙）（以下简称"国润瑞祺"）直接持 有公司股份 2,015,372 股，占公司股份总数的 1.41%； 2、深圳市慧悦成长投资基金企业（有限合伙）（以下简称"慧悦成长"）直接 持有公司股份 3,684,711 股，占公司股份总数的 2.59%； 3、苏州华业致远一号创业投资合伙企业（有限合伙）（以下简称"苏州华业"） 直接持有公司股份 1,085,602 股，占公司股份总数的 0.76%； 4、苏州华业的一致行动人长沙华业高创私募股权基金合伙企业（有限合伙） （以下简称"长沙华业"）直接持有公司股份890,580股，占公司股份总数的0.62%。 上述股份均为国润瑞祺、慧悦成长 ...

Investment Rating - The report gives a "Buy" rating for the company, Nanxinwei, with a target market capitalization of 25.1 billion yuan, indicating a potential upside of 32% from the current market value [20][23]. Core Insights - Nanxinwei focuses on high-end analog chips for automotive applications, with significant advancements in sensor technology, signal chains, and power management [3][4][18]. - The company has achieved full coverage of automotive-grade isolation products and has established a strong presence in the automotive electronics sector, with over 33% of its revenue coming from this area in the first half of 2024 [4][25][55]. - The report highlights the rapid growth potential in the domestic analog chip market, driven by increasing localization and demand for automotive chips [19][67]. Summary by Sections Company Overview - Nanxinwei was established in 2013 and has rapidly developed a range of products, including sensor signal conditioning ASICs and automotive-grade isolation products [18][32]. - The management team consists of experienced professionals from major international firms, enhancing the company's technical capabilities [36][37]. Financial Performance - The company reported total revenue of 1.311 billion yuan in 2023, with a projected increase to 1.879 billion yuan in 2024, reflecting a year-on-year growth rate of 43.4% [6][20]. - The net profit attributable to shareholders is expected to improve from a loss of 427 million yuan in 2024 to a profit of 161 million yuan by 2026 [6][20]. Product Development - The company is expanding its product matrix in power management, with expected revenues of 750 million yuan in 2024, growing to 1.39 billion yuan by 2026 [24]. - Nanxinwei's sensor products, particularly in magnetic sensors, are projected to see significant growth, with revenues expected to reach 980 million yuan by 2026 [10][24]. Market Position - The report emphasizes the increasing domestic market share of analog chips, with China's self-sufficiency rate rising from 6% in 2017 to 15% in 2023 [19][67]. - Nanxinwei has established partnerships with major automotive manufacturers, including BYD and Dongfeng, positioning itself as a leading domestic supplier in the automotive chip market [4][70].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 15% in the next six months [5][18]. Core Views - The company has completed a significant acquisition, enhancing its competitive position in the semiconductor and integrated circuit sectors. This acquisition is expected to improve its capabilities in sensor chips and expand its market presence in high-growth areas such as IoT and smart hardware [1][11]. - The semiconductor industry is anticipated to reach a turning point as major players like Texas Instruments conclude their expansion plans, which should alleviate supply pressures and restore balance in supply and demand. This is expected to lead to a recovery in revenue and profitability for chip manufacturers, including the company [5][18]. Financial Summary - The company reported total revenue of 1,311 million yuan for 2023, with projections of 1,945 million yuan for 2024, 2,504 million yuan for 2025, and 3,243 million yuan for 2026, reflecting a growth rate of 48.35% in 2024 [4][28]. - The net profit attributable to the parent company is projected to recover from a loss of 305.34 million yuan in 2023 to a profit of 150.14 million yuan in 2026, indicating a significant turnaround [4][28]. - The company's earnings per share (EPS) is expected to improve from a loss of 2.14 yuan in 2023 to a profit of 1.05 yuan in 2026 [4][28]. Key Financial Metrics - The company has a net asset value per share of 42.70 yuan and a debt-to-asset ratio of 12.27% [3]. - The total market capitalization is approximately 19,006.17 million yuan, with a circulating A-share market value of 12,446.96 million yuan [23].

证券代码：688052 证券简称：纳芯微 公告编号：2024-051 苏州纳芯微电子股份有限公司 关于收购上海麦歌恩微电子股份有限公司 股份进展暨完成工商变更登记的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、基本情况概述 苏州纳芯微电子股份有限公司（以下简称"公司"）于 2024 年 6 月 21 日召开了 第三届董事会第十次会议、第三届监事会第十次会议，审议通过了《关于拟以现金方 式收购上海麦歌恩微电子股份有限公司部分股份及上海莱睿企业管理合伙企业（有限 合伙）、上海留词企业管理合伙企业（有限合伙）部分财产份额的议案》，于 2024 年 10月 14日召开了第三届董事会第十三次会议、第三届监事会第十三次会议，审议通过 了《关于拟以现金方式收购上海麦歌恩微电子股份有限公司股份进展暨签订<财产份 额转让协议之补充协议>的议案》。 公司以现金方式收购上海矽睿科技股份有限公司（以下简称"矽睿科技"）直接 持有的上海麦歌恩微电子股份有限公司（以下简称"麦歌恩"）62.68%的股份，以现 金方式收购矽睿科技通过上海莱睿企业 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 136.40 CNY [3][6][10] Core Insights - In Q3 2024, the company's revenue reached 517 million CNY, marking a historical high with a 6% increase quarter-on-quarter and an 87% increase year-on-year. This marks five consecutive quarters of revenue growth. However, the net profit attributable to shareholders was -142 million CNY, and the adjusted net profit was -155 million CNY. For the first three quarters of 2024, the company reported a total revenue of 1.37 billion CNY, a 36% year-on-year increase, with a net profit of -408 million CNY [2][3] - The automotive electronics segment continues to expand rapidly, with Q3 2024 revenue reaching 196 million CNY, a 26% increase quarter-on-quarter, accounting for 38% of total revenue. The company has seen significant market share growth in the electric vehicle power control chips and has begun large-scale shipments of various automotive chips. The company plans to launch several new products in the automotive electronics sector in the coming year, driven by strong demand in the Chinese market [2][3] - The company's overseas expansion is progressing well, with branches in Germany, Japan, and South Korea, and has passed supplier certifications from several tier 1 clients. A strategic partnership with Continental Group has been established to develop automotive-grade pressure sensor chips, enhancing safety and reliability features [2][3] Financial Summary - The company forecasts revenues of 1.91 billion CNY, 2.60 billion CNY, and 3.26 billion CNY for 2024, 2025, and 2026 respectively. The previous forecast for 2024 was 3.46 billion CNY, which has been revised down due to adjustments in revenue and gross margin expectations [3][10] - Key financial metrics include a projected gross margin of 36.7% for 2024, improving to 42.7% by 2026. The net profit margin is expected to recover from -17.2% in 2024 to 3.8% in 2026 [5][10]