Revenue and Market Distribution - The company's overseas revenue accounts for approximately 80% of total revenue [1] - In the storage market, the automotive sector accounts for over 40% of revenue, while industrial and medical sectors account for less than 30% this year (down from over 30% last year) [2] - The remaining 20%+ of storage revenue comes from communications and consumer sectors [2] Product Segments and Performance Computing Chips - Over 80% of computing chips are used in security surveillance products, mainly civilian cameras [1] - The computing chip market is highly competitive, with domestic competitors being the main rivals [1] - Q3 gross margin for computing chips was around 35% [2] Storage Products - Storage products are mainly sold through distributors, with some direct sales to Tier1/2/3 manufacturers [1] - DDR3 capacities range from 1G to 16G [2] - Q3 gross margin for storage chips was close to 34% [2] - The industry storage market peaked in 2022, with prices gradually declining since late 2022, though the decrease has been relatively small [2] Analog and Interconnect Chips - Analog chips primarily consist of various LED driver chips, with over 50% sales in the automotive market [2] - Main competitors include TI, Infineon, and Melexis [2] - Q3 gross margin remained above 50% [2] Technology Development - The company is developing 21nm and 20nm DRAM processes, with 21nm expected by year-end 2024 and 20nm expected around mid-2025 [2] - The company continues to invest in updating process technologies for future product development [2]

证券代码：300223 证券简称：北京君正 北京君正集成电路股份有限公司 投资者关系活动记录表 编号：20241112 | --- | --- | --- | |-------------------------|----------------------|--------------------------------------------------------| | | | | | 投资者关系活动 | ■特定对象调研 | □分析师会议 | | 类别 | □媒体采访 | □业绩说明会 | | | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他 （ | ） | | 参与单位名称及 人员姓名 | 瑞私募：牛书斌等 | 中金公司：张怡康、王昆越、王梦云；汇安基金：单柏霖；思 | | 时间 | 2024 年 11 月 12 日 | | | 方式 | 现场交流会 | | | 上市公司接待人 员姓名 | 董事会秘书张敏 | | | | 一、公司基本情况介绍 | | | | 二、问答环节 | | | | 1 、 DRAM | 的新工艺情况？ | | | 工艺上， 21nm 和 | 20 ...

证券代码：300223 证券简称：北京君正 北京君正集成电路股份有限公司 投资者关系活动记录表 编号：20241107 | --- | --- | --- | |-------------------------|--------------------------------|----------------------------------------------------------| | | | | | 投资者关系活动 | ■特定对象调研 | □分析师会议 | | 类别 | □媒体采访 | □业绩说明会 | | | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他 （ | ） | | 参与单位名称及 人员姓名 | | 长江证券：张梦杰；鑫元基金：韩子龙；中金基金：杜超禹等 | | 时间 | 2024 年 11 月 7 日 | | | 方式 | 现场交流会 | | | 上市公司接待人 员姓名 | 董事会秘书张敏 | | | | 一、公司基本情况介绍 | | | | 二、问答环节 | | | | 1 | 、存储产品的价格趋势？主要面向的市场是哪些？ | | | | 我们的存 ...

证券代码：300223 证券简称：北京君正 公告编号：2024-055 北京君正集成电路股份有限公司 关于股东股份减持计划完成情况的公告 公司股东北京屹唐盛芯半导体产业投资中心（有限合伙）保证向本公司提供 的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 北京君正集成电路股份有限公司（以下简称"公司"）于 2024 年 10 月 8 日在中国证监会指定的创业板信息披露网站巨潮资讯网（www.cninfo.com.cn） 披露了《关于公司股东股份减持计划预披露公告》，持本公司 5%以上股份的股 东北京屹唐盛芯半导体产业投资中心（有限合伙）（以下简称"屹唐盛芯"）拟 通过集中竞价方式减持公司股份不超过 800,000 股，占公司总股本比例不超过 0.1661%。 公司近日收到上述股东出具的关于本次减持计划已实施完毕的书面文件，根 据相关规定，现将其股份减持计划的实施情况公告如下： 一、减持计划的实施进展情况 | 股东名称 | 减持方式 | 减持股份来源 | 减持期间 | 减持均价 | 减持股数 | 减持比例 | | --- | - ...

Investment Rating - The report maintains a "Buy" rating for Beijing Junzheng (300223) [1] Core Views - The demand for consumer products has increased in Q3, while the industry awaits demand recovery [1] - The company's Q3 revenue was 1.094 billion yuan, a year-on-year decrease of 8.70%, and the net profit attributable to shareholders was 107 million yuan, down 26.89% year-on-year [1] - The company is expanding its product lines, with new DRAM products expected to launch in the second half of the year and ongoing development of various chip products for different applications [1] Financial Summary - For the first three quarters, the company's revenue was 3.201 billion yuan, a decrease of 6.39% year-on-year, and the net profit attributable to shareholders was 304 million yuan, down 17.37% year-on-year [1] - Revenue from storage, computing, and simulation chips for the first three quarters was 1.987 billion, 813 million, and 347 million yuan, with year-on-year changes of -10.52%, -0.30%, and 16.49% respectively [1] - The company forecasts total revenue for 2024-2026 to be 4.350 billion, 5.102 billion, and 6.019 billion yuan, with year-on-year growth rates of -4.0%, 17.3%, and 18.0% respectively [2]

Investment Rating - The report maintains a rating of "Accumulate" for the company Beijing Junzheng (300223.SZ) [1] Core Views - The company has shown resilience in its operations, with a quarter-on-quarter growth of 2% in non-net profit for Q3 2024, despite weak demand in the automotive and industrial sectors [2][4] - The introduction of advanced process DRAM products is anticipated, with samples of 21nm expected by the end of 2024 and 20nm by mid-2025, which could drive future growth [4] - The company is positioned as a leading player in the automotive IC sector, with a comprehensive layout across computing, storage, and analog chips, indicating potential for collaborative growth across its segments [4] Financial Summary - For the first three quarters of 2024, the company reported revenue of 3.201 billion, a year-on-year decrease of 6.39%, and a net profit attributable to shareholders of 304 million, down 17.37% year-on-year [9][10] - In Q3 2024, the company achieved a revenue of 1.094 billion, a slight decrease of 0.49% quarter-on-quarter, with a net profit of 107 million, down 3% quarter-on-quarter [8][10] - The gross margin for Q3 2024 was reported at 37.20%, reflecting a decrease of 0.48 percentage points quarter-on-quarter, while the net profit margin was 9.67%, down 0.31 percentage points [7][8] Product Performance - The storage chip segment generated revenue of 671 million in Q3 2024, accounting for 61.28% of total revenue, while the computing chip segment saw a revenue increase of 2.60% quarter-on-quarter [3] - The company’s flagship product, the T23 computing chip, has gained significant market traction, contributing to the revenue growth despite a lack of seasonal demand in the security monitoring market [3][4] Future Outlook - The company projects net profits attributable to shareholders of 458 million, 589 million, and 725 million for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 65.0, 50.5, and 41.0 [4][10] - The ongoing development of new products and the anticipated recovery in market demand are expected to support the company's growth trajectory in the coming years [4]

Summary of Conference Call Records Company and Industry Overview - The conference call discusses the performance of a company in the IoT and semiconductor industry, particularly focusing on smart hardware products and storage chips [1][2][3][4]. Key Points and Arguments Financial Performance - The company's Q3 performance was in line with expectations, showing no significant growth due to a sluggish overall market [1]. - Q3 revenue for storage chips was approximately $6.71 billion, a slight decrease from $6.76 billion in Q2, with a year-over-year decline of over 10% [3][4]. - The overall revenue for the first three quarters was $19.9 billion, reflecting a 10.5% year-over-year decline [3]. - The gross margin for computing chips in Q3 was 35.11%, slightly down from 35.5% in Q2 [2]. Market Conditions - The IoT market remains fragmented, impacting revenue growth; smart hardware products saw a slight decline compared to Q2 [1]. - The automotive industry has been in a down cycle since late 2022, affecting demand for storage chips, which are heavily utilized in automotive applications [4][5]. - The company noted that while domestic markets performed well, the U.S. and European markets showed weaker performance [5]. Product Development and Strategy - The company is focused on enhancing product competitiveness through ongoing R&D, particularly in AI and algorithm optimization [2][12]. - Upcoming product launches include next-generation chips, with 21nm samples expected by the end of the year and 20nm products anticipated in mid-2024 [6][16]. - The company aims to expand its market presence by promoting new products in various sectors, including automotive and industrial applications [14][19]. Gross Margin and Pricing - The gross margin for storage chips in Q3 was approximately 33.7%, down from over 34% in Q2, attributed to product mix changes [5][22]. - The company anticipates a gradual decline in gross margins due to market conditions and competitive pricing pressures, although the decline is expected to be limited [24][25]. Future Outlook - The company expects a stable market environment in Q4, with no significant changes anticipated compared to Q3 [18]. - There is optimism for a recovery in the automotive market in 2024, with expectations of growth in various sectors [19][26]. - The company remains committed to maintaining a healthy profit margin while navigating market challenges and expanding its product offerings [26][27]. Additional Important Information - The company is actively working on improving its supply chain and production capabilities, particularly for advanced process nodes [6][17]. - The competitive landscape remains intense, with ongoing pressure from both domestic and international competitors [11][13]. - The company is exploring opportunities in overseas markets, which may provide more stable revenue streams despite slower initial adoption [14][19]. This summary encapsulates the key insights from the conference call, highlighting the company's current performance, market conditions, product strategies, and future outlook.

Group 1: Company Overview and Market Position - Beijing Junzheng is actively addressing the competitive landscape in the security monitoring market, which has shown a slight decline in demand compared to last year, particularly in Q3 [1] - The company maintains its competitive edge through continuous technological advancements, product optimization, and strategic market positioning [1] - The introduction of new products, such as T31 and T23, has significantly contributed to market growth, with T31 performing well in the previous year [2] Group 2: Product Development and Revenue Generation - The timeline from product sample release to revenue generation varies by sector, with automotive applications expected to see significant sales from 21nm products in the following years [2] - The company plans to enhance its product lineup with the upcoming T42 and C200 models, targeting the mid-to-high-end market segment [2] - The storage product line is primarily focused on industrial markets, with limited exposure to consumer markets, particularly in high-reliability sectors [2] Group 3: Market Trends and Financial Performance - The DRAM market experienced a slight decline in Q3 compared to Q2, while Flash products saw growth, indicating differing market dynamics [2] - The exit of overseas competitors is viewed as a positive opportunity for the company, although current sales have not been significantly impacted [3] - The gross margin for storage chips is expected to continue a slow decline, with 2022 being a peak year, and fluctuations around 30% anticipated moving forward [3]

证券代码：300223 证券简称：北京君正 公告编号：2024-054 北京君正集成电路股份有限公司 股东部分股份解除质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京君正集成电路股份有限公司（以下简称"公司"）近日接到公司控股股 东李杰的通知，获悉其所持有本公司的部分股份解除质押，具体事项如下： 一、本次解除质押基本情况 特此公告。 北京君正集成电路股份有限公司 董事会 二○二四年十月二十九日 | 股东名称 | 是否为控股 股东或第一 | 本次解除质押 | 占其所 持股份 | 占公司 总股本 | 起始日 | | 解除日期 | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 大股东及其 一致行动人 | 股份数量（股） | 比例 | 比例 | | | | | | | 李杰 | 是 | 5,200,000 | 27.78% | 1.08% | 年 2020 | 月 2 | 2024 | 年 10 | 中泰证券股 | | | | | | | 24 | 日 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3][4]. Core Views - The company is experiencing a decline in revenue and net profit, with a year-on-year revenue decrease of 6.4% and a net profit decrease of 17.4% for the first three quarters of 2024 [1][3]. - The semiconductor industry is still facing low market demand, impacting the company's performance in Q3 2024 [3][4]. - The company is focusing on product and process iterations while waiting for a recovery in industry demand [3][4]. Financial Summary - For the first three quarters of 2024, the company reported revenue of 3.2 billion yuan and a net profit of 300 million yuan, with a gross margin of 37.4% [1]. - The revenue for Q3 2024 was 1.09 billion yuan, down 8.7% year-on-year, and the net profit was 110 million yuan, down 26.9% year-on-year [1]. - The company’s projected net profits for 2024-2026 are adjusted to 420 million, 550 million, and 720 million yuan respectively, with corresponding P/E ratios of 84, 63, and 49 [4]. Market and Product Development - The company is actively developing new DRAM and Flash memory products, with the first 21nm DRAM product expected to be launched in the second half of 2024 [4]. - The company is expanding its market presence in various sectors, including video, smart home appliances, and printers, while enhancing overseas product promotion [4].