卓胜微：“长期主义”领航，全链自主锻造射频前端核心竞争力

Core Viewpoint - The company,卓胜微, has transformed from a light asset design firm to a fully integrated manufacturing enterprise, breaking the overseas monopoly in the RF chip industry through long-term investment and innovation [1]. Group 1: Company Development - 卓胜微's revenue surged from 111 million to 4.6 billion from 2015 to 2021, with profits increasing over a hundredfold due to its keen insight into the mobile internet and smartphone market [1]. - The company has adopted a Fab-Lite model to enhance supply chain security, transitioning from a Fabless model, which has increased its risk resilience despite impacting profit margins [1]. - In 2024, the company launched the L-PAMiD module, marking a significant technological advancement and achieving a fully domestic supply chain breakthrough in the sub-3G communication field [1]. Group 2: Industry Trends - The global smart terminal market experienced a peak in 2021 with over 3 billion units shipped, but is expected to slow down due to extended replacement cycles and released pent-up demand in 2024 [2]. - Despite current weak demand in the global smart terminal market, the company anticipates steady revenue growth in 2024 through diversified product offerings in filter technology [2]. - The company is preparing for emerging demands in sectors like autonomous driving, AI, and humanoid robots, with plans to enhance its manufacturing capabilities through the second phase of the Wuxi chip project starting in early 2025 [2].