Core Viewpoint - Ankai Microelectronics (688620.SH) announced that its intelligent vision SoC chip KM01 received the "China Chip" Excellent Market Performance Product Award at the 20th "China Chip" Integrated Circuit Industry Promotion Conference [1] Company Summary - The KM01 chip was recognized for its market performance, highlighting the company's innovation in the integrated circuit sector [1] - The award is guided by the Ministry of Industry and Information Technology and hosted by the China Electronic Information Industry Development Research Institute, indicating the significance of the recognition within the industry [1] Industry Summary - The "China Chip" award has been held for twenty consecutive years since its establishment in 2006, showcasing its importance in the integrated circuit industry in China [1] - The award serves as a benchmark for excellence in the integrated circuit sector, reflecting the competitive landscape and advancements in technology [1]

KM01 是公司面向智能家居、智慧安防、智能穿戴、工业视觉等高增长赛道 推出的高集成度端侧 AI 视觉处理芯片。该芯片内置自研 NPU、ISP，具备轻量 级算力，集成 H.265/H.264 视频编码器，支持双目、多目摄像头，支持多种安全 启动级别。开发包提供人形/人脸/车形/非机动车/宠物/手势/包裹识别等目标的检 测、识别与跟踪以及客流统计等算法模型，可应用于 4G 太阳能 AI 摄像机、AOV 低功耗摄像机、双目/多目安防摄像机、超清双摄电池门铃、智能门锁、AI 眼镜 等终端设备。KM 01 是公司智能视觉芯片系列中的代表性产品之一，已实现稳定 销售，其优秀的市场表现也是获得"中国芯"优秀市场表现产品奖的重要依据。 三、对公司的影响 KM01 在本届众多参选产品中脱颖而出，体现了公司在智能视觉 SoC 芯片领 域的研发实力和产品市场表现，是公司产品创新能力、技术实力和市场认可度的 证券代码：688620 证券简称：安凯微 公告编号：2025-061 广州安凯微电子股份有限公司 关于获得"中国芯"优秀市场表现产品奖的自愿性披 露公告 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 ...

Core Viewpoint - Ankai Microelectronics (688620.SH) has been awarded the "China Chip" Excellent Market Performance Product Award for its KM01 intelligent vision SoC chip at the 20th "China Chip" Integrated Circuit Industry Promotion Conference, highlighting the company's R&D strength and market performance in the intelligent vision SoC chip sector [1] Group 1 - The KM01 chip stood out among numerous entries, demonstrating the company's innovation capability, technical strength, and market recognition [1] - The award is expected to enhance the company's brand influence and market position in the intelligent vision SoC chip field [1] - The company aims to leverage its core technology and market expansion to continue integrating visual processing with edge AI, providing high-performance and reliable chip solutions for various applications such as smart security, smart cities, and industrial vision [1] Group 2 - The "China Chip" Excellent Market Performance Product Award is guided by the Ministry of Industry and Information Technology and hosted by the China Electronic Information Industry Development Research Institute, making it one of the most influential industry awards in China's integrated circuit sector since its inception in 2006 [1] - The company is committed to leading the development of new productive forces through technological and product innovation, contributing to the high-quality development of China's integrated circuit industry [1]

Core Viewpoint - Ankai Microelectronics (688620.SH) has been awarded the "China Chip" Excellent Market Performance Product Award for its KM01 intelligent vision SoC chip at the 20th "China Chip" Integrated Circuit Industry Promotion Conference, highlighting the company's R&D strength and market performance in the intelligent vision SoC chip sector [1] Group 1 - The KM01 chip stood out among numerous entries, demonstrating the company's innovation capability, technical strength, and market recognition [1] - The award is expected to enhance the company's brand influence and market position in the intelligent vision SoC chip field [1] - The company aims to leverage its core technology and market expansion to continue integrating visual processing with edge AI, providing high-performance and reliable chip solutions for various applications such as smart security, smart cities, and industrial vision [1] Group 2 - The "China Chip" award has been held for twenty consecutive years and is recognized as a significant industry award in China's integrated circuit sector, guided by the Ministry of Industry and Information Technology and organized by the China Electronic Information Industry Development Research Institute [1] - The company is committed to leading the development of new productive forces through technological and product innovation, contributing to the high-quality development of China's integrated circuit industry [1]

Core Viewpoint - Ankai Microelectronics experienced a slight decline in stock price and reported low financing activity, indicating a cautious market sentiment towards the company [1][2]. Financing and Trading Activity - On October 30, Ankai Microelectronics' stock price fell by 2.40%, with a trading volume of 104 million yuan. The financing buy-in amount was 11.23 million yuan, while the financing repayment was 8.12 million yuan, resulting in a net financing buy of 3.11 million yuan [1]. - As of October 30, the total financing and securities lending balance for Ankai Microelectronics was 190 million yuan, which represents 6.92% of its circulating market value. This financing balance is below the 50th percentile level over the past year, indicating a low position [1]. - In terms of securities lending, there were no shares repaid or sold on October 30, with a lending balance of 0.00 shares, placing it above the 90th percentile level over the past year, indicating a high position [1]. Company Performance - As of September 30, the number of shareholders for Ankai Microelectronics was 20,800, a decrease of 3.28% from the previous period. The average circulating shares per person increased by 3.39% to 11,192 shares [2]. - For the period from January to September 2025, Ankai Microelectronics reported a revenue of 351 million yuan, a year-on-year decrease of 5.22%. The net profit attributable to the parent company was -82.24 million yuan, reflecting a significant year-on-year decline of 267.46% [2]. Dividend and Shareholding Structure - Since its A-share listing, Ankai Microelectronics has distributed a total of 11.76 million yuan in dividends [3]. - As of September 30, 2025, the top ten circulating shareholders of Ankai Microelectronics saw the exit of Xin'ao New Energy Industry Stock A (001410) from the list [3].

Core Viewpoint - The company acknowledges the divergence between its stock price and the market index, attributing it to various factors while emphasizing its commitment to long-term value and ongoing communication with investors [1] Group 1: Company Performance - The company has been actively managing its market value and focusing on long-term growth despite recent stock price declines [1] - The company has legally and compliantly conducted its operations, with no issues reported in management [1] - The company has launched more chip products this year than in the past four years combined, indicating a strong focus on research and development [1] Group 2: Market Strategy - The company is working to expedite the mass production of its chip products to enhance revenue streams [1] - The management is addressing the impact of declining gross margins due to intense market competition in certain product lines [1]

Core Insights - Ankai Microelectronics (安凯微) reported a stable revenue of 351 million yuan for the first three quarters of 2025, with R&D expenses reaching 105 million yuan, accounting for 30.13% of revenue, indicating a 5.18% year-on-year increase, which lays a solid foundation for the company's long-term development [1] Group 1: Product Development and Innovation - The company launched multiple new chip products at the "2025 Ankai Microelectronics Developer Technology Forum," focusing on key areas such as visual processing, audio interaction, and power management, showcasing its technological achievements [1][2] - Ankai Micro has released a total of 8 chip products since the beginning of the year, covering the entire link from visual perception to voice interaction and control execution, providing foundational technology support for the "multi-modal + intelligent body" ecosystem [2] - The company demonstrated seven categories of application scenarios, including solar-powered smart cameras and AI glasses, expanding the practical application boundaries of edge intelligent systems [2] Group 2: Strategic Partnerships and Ecosystem Development - The forum gathered key partners and experts to discuss the integration of multi-modal perception and edge intelligence technologies, clarifying the company's strategic path in the intelligent body direction [4] - Ankai Micro has successfully taped out chips that cover major functional forms such as AI audio glasses and AI display glasses, now entering large-scale promotion and customer product development stages [3] - The company is enhancing its system capabilities from underlying hardware to terminal applications, continuously improving the adaptability and application breadth of edge intelligent solutions [7] Group 3: Future Directions and Market Trends - The DINO-X model, developed by the IDEA Research Institute, is highlighted as a leading general visual model with strong capabilities in open-world object detection and understanding, applicable in various fields such as intelligent security and autonomous driving [5] - Industry experts noted that while multi-modal large models have established numerous application scenarios, there remains significant room for improvement in specialized scenarios, particularly in balancing computing power costs and energy consumption [6] - Ankai Micro is expected to continue iterating and upgrading its products under the trends of high integration and low power consumption, leveraging its self-developed IP and SoC architecture technology [6]

Financial Performance - The company's operating revenue for the third quarter was ¥116,524,301.07, a decrease of 9.36% compared to the same period last year[3] - The total profit for the third quarter was -¥32,973,481.58, with a year-to-date total profit of -¥82,417,140.39[3] - The net profit attributable to shareholders for the third quarter was -¥32,988,496.70, and year-to-date it was -¥82,239,222.00[3] - Total revenue for the first three quarters of 2025 was CNY 350.83 million, a decrease of 5.4% compared to CNY 370.15 million in the same period of 2024[19] - Net loss for the first three quarters of 2025 was CNY 82.24 million, compared to a net loss of CNY 22.38 million in 2024, indicating a significant decline in profitability[20] - Basic earnings per share for the first three quarters of 2025 were CNY -0.21, compared to CNY -0.06 in the same period of 2024[21] - Operating profit for the first three quarters of 2025 was CNY -82.48 million, worsening from CNY -42.86 million in 2024[20] Research and Development - Research and development expenses totaled ¥38,279,669.57 for the quarter, representing 32.85% of operating revenue, an increase of 3.69 percentage points year-on-year[4] - Research and development expenses rose to CNY 105.70 million in 2025, up from CNY 100.49 million in 2024, reflecting a 5.2% increase[20] Assets and Liabilities - The company's total assets at the end of the quarter were ¥1,578,044,826.59, a decrease of 5.20% from the end of the previous year[4] - The total assets as of September 30, 2025, were CNY 1,578.04 million, a slight decrease from CNY 1,664.58 million as of December 31, 2024[17] - Total liabilities increased to CNY 230.63 million in 2025 from CNY 223.58 million in 2024, showing a growth of 3.1%[17] - The company's equity attributable to shareholders decreased to CNY 1,347.42 million in 2025 from CNY 1,440.99 million in 2024, a decline of 6.5%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,757[11] - The largest shareholder, Ankai Technology Company, holds 61,382,160 shares, representing 15.66% of total shares[11] - The second-largest shareholder, Zhejiang Wuyi Kairida Electronic Technology Co., Ltd., holds 28,420,840 shares, accounting for 7.25%[11] Cash Flow - In the first three quarters of 2025, the net cash flow from operating activities was -56,855,422.48 RMB, an improvement from -74,909,642.66 RMB in the same period of 2024[23] - Total cash inflow from operating activities for the first three quarters of 2025 was 384,702,342.99 RMB, down 16.2% from 459,053,452.61 RMB in 2024[23] - Cash outflow from operating activities in the first three quarters of 2025 was 441,557,765.47 RMB, a decrease of 17.3% compared to 533,963,095.27 RMB in 2024[23] - The net cash flow from investment activities was -22,078,355.23 RMB in 2025, contrasting with a positive net cash flow of 11,355,459.07 RMB in 2024[23] - Cash inflow from financing activities totaled 130,889,712.00 RMB in 2025, slightly down from 136,744,171.00 RMB in 2024[23] - The net cash flow from financing activities was 18,233,769.86 RMB in 2025, a decrease of 60.7% compared to 46,377,318.64 RMB in 2024[23] - The ending cash and cash equivalents balance for the first three quarters of 2025 was 94,165,167.75 RMB, down from 131,334,872.93 RMB in 2024[23] Other Financial Metrics - The basic and diluted earnings per share for the third quarter were both -¥0.08, with year-to-date figures at -¥0.21[3] - The weighted average return on net assets decreased by 1.31 percentage points to -2.42% for the quarter[4] - Non-recurring gains and losses for the quarter amounted to ¥1,885,061.48, with government subsidies contributing ¥2,114,919.00[7] - The company has repurchased 4,059,804 shares, representing 1.04% of total share capital[13] - The company has a total of 29.95% voting rights controlled by related parties including major shareholders[13] - The company reported a total of ¥21,500,000.00 in other non-current financial assets, up from ¥8,500,000.00[15]

Core Insights - The SOC (System on Chip) industry is experiencing significant growth due to its high integration, low power consumption, and enhanced performance, with the market size in China projected to increase from 221 billion yuan in 2020 to 341.2 billion yuan by 2024, representing a compound annual growth rate (CAGR) of 11.5% [1][9]. SOC Chip Industry Overview - SOC chips integrate all components required for an electronic system into a single chip, including CPU, GPU, memory, and power management units, allowing for a complete microcomputer system [3]. - The applications of SOC chips span across various sectors, including consumer electronics, automotive electronics, IoT, and AI [3]. SOC Chip Industry Chain - The SOC chip industry chain consists of three segments: upstream (chip IP cores, EDA software, semiconductor materials), midstream (chip design, wafer manufacturing, packaging), and downstream (applications in consumer electronics, automotive electronics, IoT, and AI) [5]. SOC Chip Industry Competitive Landscape - The global SOC chip market is highly competitive, with major players like Tesla, NVIDIA, and Qualcomm leading in technology and market share. Domestic companies such as Unisoc, Horizon Robotics, and Huawei HiSilicon are also emerging as significant competitors [9]. SOC Chip Industry Development Trends - Continuous technological innovation is expected to enhance SOC chip performance, with increased R&D investments aimed at achieving higher computing power and lower power consumption [11]. - The trend of domestic substitution is strengthening, with local manufacturers gradually replacing foreign companies in the market, particularly in the smart cockpit SOC chip sector [12]. - The industry has substantial growth potential driven by global digital transformation, 5G proliferation, AI applications, and the rise of IoT devices [14].

Core Points - The stock price of Ankai Microelectronics increased by 2.13% on October 16, reaching 12.46 CNY per share, with a total market capitalization of 4.884 billion CNY [1] - The company has seen a year-to-date stock price increase of 23.98%, but a decline of 8.92% over the last five trading days [1] - Ankai Microelectronics has been listed on the stock market since June 27, 2023, and specializes in the research, design, testing, and sales of IoT smart hardware core SoC chips [1][2] Financial Performance - For the first half of 2025, Ankai Microelectronics reported a revenue of 234 million CNY, a year-on-year decrease of 3.02%, and a net profit attributable to shareholders of -49.25 million CNY, a significant decline of 740.87% [2] - The company has distributed a total of 11.76 million CNY in dividends since its A-share listing [3] Shareholder Information - As of June 30, 2025, the number of shareholders for Ankai Microelectronics was 21,500, a decrease of 3.17% from the previous period [2] - The top ten circulating shareholders include a new shareholder, Xin'ao New Energy Industry Stock A, holding 2.8712 million shares [3]