证券代码：688582 证券简称：芯动联科 公告编号：2025-004 安徽芯动联科微系统股份有限公司 关于 2024 年度利润分配预案的公告 本公司董事会及全体董事保证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： 2024年度，公司以实施权益分派股权登记日登记的总股本为基数，拟向全体股 东每10股派发现金红利人民币2.24元（含税）。截至2024年12月31日，公司总股本 为400,606,400股，以此计算拟派发现金红利总额为人民币89,735,833.60元（含税）。 本次现金分红金额占合并报表中归属于上市公司股东的净利润的比例为40.39%。本 年度不进行公积金转增股本，不送红股。 如在本公告披露之日起至实施权益分派股权登记日期间公司总股本发生变动 的，公司拟维持分配总额不变，相应调整每股分配比例，并将另行公告具体调整情 况。 本次利润分配预案尚需提交至公司2024年年度股东大会审议。 每10股派发现金红利人民币2.24元（含税），不进行资本公积转增股本，不 送红股。 本次利润分配以实施权益分派股权登记日登记的总股本为基数， ...

Investment Rating - The report maintains an "Outperform" rating for the electronic industry [1]. Core Insights - Humanoid robots have significant potential, with the sensory system being one of the core subsystems. The market is expected to grow rapidly as humanoid robots begin to be deployed in various applications [3][9]. - The sensory layer is crucial for interaction with the environment, accounting for approximately 15% of the total cost of humanoid robots [10][11]. - The report emphasizes the importance of multi-sensory integration, including 3D vision, force sensing, inertial sensing, and tactile sensing, in enhancing the capabilities of humanoid robots [12][39]. Summary by Sections 1. Humanoid Robot Potential - The humanoid robot market is in its early stages but is expected to transform human production and lifestyle significantly. The global sales volume is projected to grow from approximately 26,000 units in 2025 to 606,000 units by 2030, with a CAGR of about 87.6% [9]. 2. 3D Vision - 3D vision is the primary environmental information input for humanoid robots, responsible for real-time modeling of the surroundings. The Chinese machine vision market is expected to grow from 4.687 billion yuan in 2016 to 39.529 billion yuan by 2028, with a CAGR of approximately 19.4% [19]. 3. Force and Inertial Sensing - Force sensing, particularly six-dimensional force sensing, is essential for precise operations in humanoid robots. The global market for humanoid robot force sensors is expected to grow from 179 million yuan in 2024 to 32.806 billion yuan by 2030, with a CAGR of 138% [46]. 4. Tactile Sensing - Tactile sensing is crucial for humanoid robots to perform delicate operations. The global market for robotic tactile sensors is projected to grow from 210 million USD in 2022 to 430 million USD by 2029, with a CAGR of 10.8% [71]. 5. Investment Recommendations - The report recommends focusing on companies involved in 3D vision, six-dimensional force sensing, MEMS IMU, and electronic skin technologies, highlighting firms like Chipone Technology, Aobo Technology, and Hanwei Technology as key players [3][9].

Summary of Conference Call on Chip Motion Technology Company Overview - The company discussed is Chip Motion Technology, a leader in MEMS (Micro-Electro-Mechanical Systems) inertial sensors, particularly in the gyroscope sector, and the only domestic company with chip-level design capabilities [1][2][4]. Core Industry Insights - The MEMS gyroscope market is experiencing positive trends, with Chip Motion Technology being a key player due to its unique technology and strong performance in the inertial sensor field [1][4]. - The company has recently signed a significant order worth 270 million yuan, primarily for its 20L series gyroscopes, indicating strong demand from existing customers [2][4]. - The company’s revenue structure shows that over 80% comes from gyroscopes, with a stable gross margin due to its strong technical capabilities and pricing power [3][5]. Financial Performance - The company has consistently delivered strong financial results since its establishment in 2012, with a notable performance in 2023 following its IPO [2][4]. - The gross margin is maintained above 80%, with net profit margins around 50%, reflecting the company's competitive strength [6][5]. - The company has a high R&D expense ratio of over 25%, indicating a strong focus on innovation and product development [5][6]. Competitive Landscape - Chip Motion Technology is positioned uniquely in the market with no direct domestic competitors in the chip-level MEMS sector, allowing it to capture significant market share [14][21]. - The company is competing against major foreign players like Honeywell and ADI in the high-performance gyroscope market, particularly in navigation-grade applications [8][14]. Technological Advancements - The company’s technology is described as "dimensional reduction," allowing it to meet the demands of various applications, including robotics and low-altitude operations, which require less stringent performance compared to traditional navigation-grade applications [9][20]. - The gyroscope's performance parameters are reportedly superior to some foreign competitors, with the latest series achieving an average selling price of 7,000.1 yuan per unit [21][20]. Market Potential - The overall MEMS sensor market is projected to be over 10 billion USD, with the inertial sensor segment accounting for approximately 30% of this market [11][12]. - The company is expected to expand into new fields, including automotive and industrial applications, which could drive future revenue growth [17][20]. Customer Base and Order Trends - The customer concentration is moderate and decreasing, suggesting a diversification strategy that could enhance growth opportunities [21][20]. - Recent market trends indicate a potential increase in demand for MEMS sensors, particularly in the robotics sector, which could lead to higher order volumes than previously anticipated [18][19]. Conclusion - Chip Motion Technology is well-positioned for future growth due to its technological leadership, strong financial performance, and expanding market opportunities in various sectors, including robotics and automotive applications [20][21].

Group 1 - A block trade occurred for ChipMotion Technology on February 17, with a transaction volume of 100,000 shares and a transaction amount of 5.728 million yuan [1] - The block trade price was 57.28 yuan, representing a discount of 2.50% compared to the closing price on the same day [1] - The buying brokerage was Dongxing Securities Co., Ltd., Chengdu Dujiangyan Yingshi Road Securities Business Department, while the selling brokerage was Haitong Securities Co., Ltd., Shanghai Huangpu District Hefei Road Securities Business Department [1]

Financial Performance - The company achieved total operating revenue of RMB 40,512.52 million, a year-on-year increase of 27.76%[3] - The net profit attributable to the parent company reached RMB 22,039.07 million, reflecting a growth of 33.25% compared to the previous year[3] - The net profit attributable to the parent company after deducting non-recurring gains and losses was RMB 20,993.80 million, marking a significant increase of 46.96%[3] - The basic earnings per share rose to RMB 0.55, representing a 25.00% increase year-on-year[3] Assets and Equity - The company's total assets at the end of the reporting period were RMB 238,280.41 million, up 9.57% from the beginning of the period[6] - The equity attributable to the parent company increased to RMB 231,684.81 million, a growth of 9.61% from the start of the period[6] Return on Investment - The weighted average return on net assets decreased to 9.98%, down by 2.08 percentage points compared to the previous year[3] Sales and Market Dynamics - The increase in sales revenue was driven by the validation and introduction of products by downstream users, leading to enhanced market penetration[7] Non-Recurring Gains - The company experienced a decrease in non-recurring gains, primarily due to reduced government subsidies compared to the previous year[8] Reporting Accuracy - There are no significant uncertainties affecting the accuracy of the performance report as of the announcement date[9]

Company Overview - ChipMotion Technology's stock price reached a historical high, increasing by 6.57% to 58.59 yuan, with a trading volume of 6.0412 million shares and a transaction amount of 344 million yuan, resulting in a turnover rate of 2.45% [1] - The latest total market capitalization of ChipMotion Technology in A-shares is 23.472 billion yuan, with a circulating market value of 14.465 billion yuan [1] Industry Performance - The overall electronic industry has seen a rise of 1.04%, with 383 stocks experiencing price increases, including notable gainers such as Ankai Micro (20.02%), Guangda Tongchuang (19.81%), and Liyang Chip (13.93%) [1] - Conversely, 90 stocks in the industry have declined, with six stocks, including Hu Dian Co. and Shengyi Technology, hitting the daily limit down [1] Margin Trading Data - As of January 27, the latest margin trading balance for ChipMotion Technology is 451 million yuan, with a financing balance of 450 million yuan, reflecting a decrease of 4.3054 million yuan over the past ten days, representing a 0.95% decline [1]

Investment Rating - The report assigns a "Buy" rating to the company [3] Core Views - The company is a leader in high-end MEMS inertial sensors, experiencing rapid growth [5] - The company's main products include high-performance MEMS gyroscopes, accelerometers, and inertial measurement units, with MEMS gyroscopes accounting for over 70% of revenue [5] - The company's products have achieved international advanced levels in core performance metrics, with high gross margins maintained over the long term [5] - The MEMS inertial sensor market is growing rapidly, with a global market size of approximately $4 billion in 2021, and the Chinese market reaching 13.6 billion RMB [6] - The company's gyroscope products have reached navigation-grade performance, with core parameters comparable to or even surpassing those of leading international competitors [7] Company Overview - The company was founded in 2012 and has been focusing on MEMS gyroscopes and accelerometers, with applications expanding into various fields such as industrial monitoring, unmanned systems, and marine navigation [14] - The company's products are characterized by high precision, small size, and low cost, making them suitable for a wide range of applications including industrial, automotive, and consumer electronics [18] - The company has a strong R&D team, with over 50% of employees engaged in research and development [31] - The company operates in a Fabless model, focusing on the design, testing, and sales of MEMS inertial sensor chips, while outsourcing wafer manufacturing and packaging [32] Market and Industry Analysis - The global MEMS inertial sensor market was valued at $3.5 billion in 2021, with MEMS gyroscopes and accelerometers accounting for $1.59 billion, or 45.4% of the total market [6] - The Chinese inertial sensor market reached 13.6 billion RMB in 2021 and is expected to continue growing steadily [6] - The MEMS industry is dominated by international giants such as Honeywell, ADI, and Sensonor, with the top three companies holding over 50% of the market share in high-performance MEMS inertial sensors [81] - The company's high-performance MEMS gyroscopes are gradually replacing traditional fiber optic and laser gyroscopes in certain applications due to their cost advantages and smaller size [89] Financial Performance and Projections - The company reported revenue of 270 million RMB in the first three quarters of 2024, a year-on-year increase of 41.2%, with net profit reaching 138 million RMB, up 42.4% year-on-year [5] - The company's gross margin has remained high, with MEMS gyroscopes and accelerometers achieving international advanced levels in core performance metrics [5] - Revenue is projected to grow to 4.55 billion RMB in 2024, 6.54 billion RMB in 2025, and 9.44 billion RMB in 2026, with net profit expected to reach 232 million RMB, 331 million RMB, and 459 million RMB respectively [8] - The company's EPS is forecasted to be 0.58 RMB, 0.83 RMB, and 1.15 RMB for 2024, 2025, and 2026, with a PE ratio of 84.0, 59.0, and 42.5 based on the current stock price of 48.67 RMB [8] Growth Opportunities - The company is expanding into high-end industrial and unmanned systems, with several projects underway in these areas [107] - The company is also exploring opportunities in the pressure sensor market, with products such as resonant MEMS absolute pressure sensors [107] - The company is well-positioned to benefit from the growth of emerging fields such as humanoid robots and autonomous driving, where IMU and inertial navigation technologies are essential [108][115]

本期企业： 该公司采用行业常用的Fabless经营模式，专注于MEMS惯性传感器芯片的研发、测试和销售，将晶圆制 造、芯片封装环节交由专业的晶圆制造厂商和封装厂商完成，在取得芯片成品并完成测试后对外销售。 《科创板日报》1月8日讯（记者 吴旭光） 芯动联科近日在北京市海淀区知春路7号致真大厦办公场所，召开了2024年第一次临时股东大会，审议 并通过了《关于选举独立董事的议案》《关于选举俞高为公司第二届董事会独立董事的议案》。 芯动联科 股东大会后，芯动联科对市场和投资者关注的话题进行了回应。 ▍企业简介 芯动联科主要从事高性能硅基MEMS惯性传感器的研发、测试与销售公司主营业务为高性能硅基MEMS 惯性传感器的研发、测试与销售。 ▍企业亮点 该公司目前已形成自主知识产权的高性能MEMS惯性传感器产品体系并批量生产及应用，在MEMS惯性 传感器芯片设计、MEMS工艺方案开发、封装与测试等主要环节形成了技术闭环，建立了完整的业务流 程和供应链体系。 ▍盈利模式 车规级六轴芯片预计2025年年中出货 芯动联科主营高性能硅基MEMS惯性传感器的研发、测试与销售，目前已在MEMS惯性传感器芯片设 计、MEMS工艺方案开 ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of RMB 65.09 [46][48] Core Views - The company is a leading player in high-performance MEMS inertial sensors, with products reaching navigation-grade precision, comparable to international giants like Honeywell [55][46] - The company's MEMS gyroscopes and accelerometers are expected to benefit from domestic substitution and downstream demand expansion in areas such as autonomous driving, commercial aerospace, and robotics [46][65] - The global high-performance inertial sensor market is projected to grow from $3.1 billion in 2021 to $4.5 billion by 2027, driven by the increasing adoption of MEMS technology [46][66] MEMS Gyroscopes - MEMS gyroscopes are replacing traditional fiber optic and laser gyroscopes due to their smaller size, lower cost, and improved performance [2][3] - The company's MEMS gyroscopes have achieved a bias stability of less than 0.1°/h, meeting navigation-grade performance requirements [12][16] - In 2021, MEMS gyroscopes accounted for 86% of the global industrial market, with potential for further penetration into tactical and navigation-grade applications [3][12] MEMS Accelerometers - Capacitive MEMS accelerometers are replacing traditional high-performance accelerometers due to their high precision, low power consumption, and cost-effectiveness [7][8] - The company's MEMS accelerometers have a bias stability of less than 20μg, reaching international advanced levels [18][22] - MEMS accelerometers are widely used in consumer electronics, automotive, industrial, and high-reliability fields [7][8] Company Advantages - The company has a leading position in MEMS gyroscopes, with products that are globally competitive in terms of performance and cost [11][16] - The company is actively expanding into new product lines and markets, including automotive-grade IMUs and pressure sensors, which are expected to drive future growth [29][43] - The company has formed a closed-loop technology system in high-performance MEMS, with strong R&D investment and a high gross margin of over 80% [32][40] Market and Industry Trends - The global MEMS inertial sensor market is expected to grow from $3.7 billion in 2022 to $4.3 billion by 2025, with a CAGR of 5.2% [85] - The company is well-positioned to benefit from the increasing demand for high-performance MEMS sensors in emerging fields such as autonomous driving, commercial aerospace, and robotics [46][65] - The company's products are expected to replace traditional inertial sensors in high-end industrial and high-reliability applications, driven by their performance and cost advantages [46][66]

Company Overview - Anhui Core Motion Microsystems Co Ltd was established in 2012 and successfully listed on the Shanghai Stock Exchange STAR Market on June 30, 2023, with the stock code 688582 [2] - The company specializes in the R&D, testing, and sales of high-performance silicon-based MEMS inertial sensors, forming a proprietary product system and achieving mass production and application [2] - Core Motion has established a complete business process and supply chain system, covering key aspects such as MEMS inertial sensor chip design, MEMS process development, packaging, and testing [3] - The company's MEMS sensor chips have reached navigation-grade accuracy, with main technical indicators on par with international mainstream manufacturers, filling a domestic gap in high-performance silicon-based MEMS inertial sensors [3] Products and Applications - Core Motion's main products include high-performance MEMS inertial sensors, specifically gyroscopes and accelerometers, which are core components of inertial systems [3] - These products are widely used in various fields such as unmanned systems, industrial robots, autonomous driving, commercial aerospace, ships, oil exploration, high-speed railways, geological exploration, emergency communication, and disaster warning [3] - The company has recently launched a high-performance resonant accelerometer (FM accelerometer), which represents a significant breakthrough in the accelerometer field, with performance improved by an order of magnitude compared to traditional products [5] - Core Motion has successfully developed single-chip dual-axis and triple-axis products, enhancing product integration and providing more convenience to customers [5] Market and Growth - Core Motion's current market penetration rate is relatively low, with last year's revenue reaching only 300 million RMB, indicating significant room for growth [6] - The company's products have been widely used in multiple fields, gradually achieving volume growth, and the company is confident in maintaining steady business growth [6] - Core Motion plans to continue exploring new application areas to ensure sustained development and market competitiveness [6] Technological Advantages - High-performance MEMS inertial sensors are technology-composite products, involving multiple aspects across different fields, and any weakness in any aspect can hinder the production of high-quality products [6] - Core Motion has gathered top experts from various fields since its inception, undergoing a long R&D process from preparation in 2012 to mass production in 2017-2018, which has accumulated the company's technical strength and product advantages [6] Future Development - Core Motion will continue to focus on its areas of technical expertise, particularly in MEMS gyroscopes and accelerometers, while also pursuing technological innovation in pressure sensors [5] - The company has already started supplying small-range pressure sensors to customers and is actively developing new products such as large-range pressure sensors to meet diverse market needs [5] - Core Motion is developing a six-axis automotive chip, with higher integration potentially becoming increasingly advantageous as the automotive industry evolves [4]