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]

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]

证券代码：688582 证券简称：芯动联科 公告编号：2024-044 安徽芯动联科微系统股份有限公司 首次公开发行部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 3,200,000 股。 本次股票上市流通总数为 3,200,000 股。 本次股票上市流通日期为 2024 年 12 月 31 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会出具的《关于同意安徽芯动联科微系统股份有 限公司首次公开发行股票注册的批复》（证监许可[2023]1012 号），并经上海证券 交易所同意，安徽芯动联科微系统股份有限公司（以下简称"公司"或"芯动联科"） 首次公开发行人民币普通股（A 股）5,521 万股，并于 2023 年 6 月 30 日在上海证 券交易所挂牌上市。公司首次公开发行完成后，总股本为 40,001 万股，其中有限 售条件流通股为 353,937,615 股，无限售条件流通股为 46,072,385 股。 ...

关于安徽芯动联科微系统股份有限公司 首次公开发行部分限售股上市流通的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐机构"） 作为安徽芯动联科微系统股份有限公司（以下简称"公司"或"芯动联科"）首 次公开发行股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理 办法》《上海证券交易所科创板股票上市规则》《上海证券交易所上市公司自律监 管指引第 11 号——持续督导》等有关法律法规和规范性文件的要求，对芯动联 科首次公开发行部分限售股上市流通的事项进行了核查，具体情况如下： 一、本次上市流通股的限售股类型 根据中国证券监督管理委员会于 2023 年 5 月 9 日作出的《关于同意安徽芯 动联科微系统股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕 1012 号），芯动联科获准首次向社会公开发行人民币普通股（A 股）5,521.00 万 股，并于 2023 年 6 月 30 日在上海证券交易所科创板上市，发行完成后公司总股 本为 40,001.00 万股，其中有限售条件流通股 35,393.7615 万股，占公司总股本的 88.48%，无限售条件流通股合计 4,607.2 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 国枫律股字[2024]A0592 号 致：安徽芯动联科微系统股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席 并见证贵公司 2024 年第一次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》 （以下简称"《股东大会规则》"）、《律师事务所从事证券法律业务管理办法》 （以下简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业 规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政 法规、规章、规范性文件及《安徽芯动联科微系统股份有限公司章程》（以下简 称"《公司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出 席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： ...

证券代码：688582 证券简称：芯动联科 公告编号：2024-043 安徽芯动联科微系统股份有限公司 2024 年第一次临时股东大会决议公告 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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 12 月 5 日 （二） 股东大会召开的地点：北京市海淀区知春路 7 号致真大厦 A 座 19 层 1901 号公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 102 | | --- | --- | | 普通股股东人数 | 102 | | 2、出席会议的股东所持有的表决权数量 | 229,295,373 | | 普通股股东所持有表决权数量 | 229,295,373 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 57.2370 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比 ...

Company Overview - Founded in 2012 and listed on the Shanghai Stock Exchange's STAR Market in June 2023 [2] - Specializes in high-performance silicon-based MEMS inertial sensors, including gyroscopes and accelerometers [2] - Achieved navigation-grade precision, filling a domestic gap in high-performance MEMS inertial sensors [3] - Products applied in unmanned systems, industrial robots, autonomous driving, commercial aerospace, and more [3] Product Development and Technology - MEMS gyroscopes and accelerometers are core components of inertial systems [3] - MEMS sensors offer advantages of small size, lightweight, and low cost compared to earlier generations [4] - Current products address limitations of first and second-generation gyroscopes, such as large size and high cost [4] - Developing high-precision resonant MEMS atmospheric pressure sensors and industrial-grade pressure sensors [6] - Small-range resonant pressure sensors have been finalized and are being sampled to customers [7] Manufacturing and Competitive Advantage - Manufacturing process involves multiple technical challenges across MEMS and ASIC chip production [7] - Maintains competitive edge through continuous R&D in design, algorithms, packaging, and testing [7] - Focuses on further integration, miniaturization, and cost reduction [7] Market Applications and Future Trends - Inertial navigation systems provide autonomous navigation, platform stabilization, and attitude control [5][6] - Combines with satellite navigation systems to enhance accuracy and reliability [5] - Emerging opportunities in automotive market with the advent of L3 and L4 autonomous driving [8] - Potential for domestic chips to meet local demand and expand globally as Chinese automakers increase overseas presence [8] Strategic Partnerships - Collaborating with automakers to establish quality systems and processes [8] - Developing automotive-grade six-axis chips to meet IMU product requirements [8]