Halo Micro(SH:688173) Shang Hai Zheng Quan Bao·2025-04-22 21:23Core Viewpoint - The company, a leading semiconductor and integrated circuit design enterprise in China, has proposed a profit distribution plan for 2024 that includes no cash dividends, no bonus shares, and no capital reserve conversion due to a negative net profit for the year [5][27][29]. Company Overview - The company specializes in the research, design, and sales of analog integrated circuits and mixed-signal integrated circuits, focusing on power management chips and signal chain chips [5][10]. - The main products serve consumer electronics and automotive electronics, including DC/DC chips, lithium battery charging management chips, port protection and signal switching chips, power conversion chips, and voice coil motor driver chips [5][6]. Business Development - The company acquired a controlling stake in the South Korean chip design company Zinitix, adding a sensor chip product line [5][10]. - The company has launched customized DC/DC chip products for silicon anode batteries, contributing significantly to revenue [6][10]. - The automotive electronics sector is a key focus, with the company supplying automotive-grade DC/DC chips to major global automotive manufacturers [19][20]. Industry Position - The company is recognized as one of the leading suppliers of power management and signal chain chips in China, competing effectively with both domestic and international brands [18][19]. - The integrated circuit design industry is characterized by high technical barriers and significant capital requirements, with a growing demand for analog chips in various applications [11][13]. Market Trends - The global analog chip market is projected to reach $84.1 billion in 2024, with a year-on-year growth of 3.7% [14]. - The Chinese analog chip market is expected to grow to 366.73 billion yuan by 2026, driven by increasing domestic demand and favorable policies [15][16]. - The automotive chip market is anticipated to expand significantly, with the value of chips per vehicle expected to reach $700 by 2026 [19]. Future Development - The company plans to enhance its product offerings in power management, port protection, and signal switching, while also expanding into automotive electronics and communication sectors [22][24]. - The trend in the analog integrated circuit industry is shifting towards high efficiency, low power consumption, and increased integration, with a focus on high-performance applications [23].