国产替代加速 深市半导体公司强化自主创新

Core Viewpoint - The domestic semiconductor industry is accelerating its self-sufficiency, with Shenzhen-listed companies making significant technological breakthroughs to reshape "China Manufacturing" [1][2]. Group 1: Industry Trends - The semiconductor industry is experiencing rapid technological iteration, high R&D difficulty, and intense market competition, prompting companies to enhance R&D investment and innovation capabilities [2][3]. - The recent imposition of tariffs by the US and China is expected to accelerate the domestic semiconductor replacement process, increasing the domestic substitution rate [1][5]. Group 2: Company Innovations - Allwinner Technology focuses on high-performance computing architecture, advanced processes, and AI applications, maintaining R&D investment above 20% of revenue from 2022 to 2024, with amounts of 418 million, 487 million, and 532 million RMB respectively [2]. - Jiangfeng Electronics has established a world-class sputtering target production base with complete independent intellectual property rights, breaking the monopoly of US and Japanese companies in high-purity materials [3]. Group 3: Market Opportunities - Jiangfeng Electronics is positioned to benefit from increasing demand in automotive electronics, industrial automation, and consumer electronics, with a focus on enhancing product quality and performance [4]. - The increase in tariffs is expected to raise the cost of imported products, creating new opportunities for domestic substitution in the semiconductor sector [5]. Group 4: Financial Performance - Jiangfeng Electronics has maintained a cash dividend ratio exceeding 20% of net profit attributable to shareholders for the past three years, and has repurchased shares to boost investor confidence [8]. - Guanghe Technology announced a cash dividend of 4.80 RMB per 10 shares, amounting to a total of 204 million RMB, representing 30.19% of the net profit for 2024 [8].