Leadyo(SH:688135) Sou Hu Wang·2025-04-30 01:18Core Viewpoint - The company has reported its Q1 2025 financial results, indicating temporary profit pressure but highlighting underlying growth potential driven by a fixed cost structure primarily based on depreciation and amortization, with revenue showing both year-on-year and quarter-on-quarter growth, signaling an inflection point in income and the imminent release of scale effects [1] Group 1: Business Strategy and Focus - The company is focusing on its core business of integrated circuit testing, with a strategic layout described as "one body, two wings," emphasizing independent third-party wafer testing and chip product testing as the mainstay, while also expanding into wafer laser grooving, dicing, thinning, and ultra-wide spectrum layered image sensor chips for applications in autonomous driving and robotics [1] - The company aims to establish itself as a leading independent third-party professional testing service provider in China, driven by technological innovation and unique testing solutions across various fields including high computing power, industrial control, automotive electronics, sensors, AIoT, consumer electronics, storage, and specialty chips [1] Group 2: Technological Advancements - The company possesses industry-leading ultra-thin chip thinning technology capable of processing below 25μm, and its laser grooving and dicing technologies address quality issues in traditional cutting methods, enhancing chip yield and reliability [2] - The company collaborates with Shanghai Dielong Optoelectronics Technology Co., Ltd. to provide unique wafer heterogeneous stacking and testing services, leveraging core technologies in all-weather ultra-wide spectrum layered image sensor chips to improve recognition rates under complex weather and lighting conditions, thus enhancing safety in autonomous driving applications [2] Group 3: Market Expansion and Innovation - The company is actively expanding its relationships with well-known design enterprises and utilizing big data analysis tools to maintain existing customers, which is expected to increase future revenue and enhance overall profitability [3] - The company is embracing technological innovation, focusing on building an intelligent algorithm training system with independent intellectual property rights, integrating cutting-edge general model technology to drive research and development innovation [3] Group 4: Future Projects and Market Opportunities - The company is developing various testing solutions for high-pixel CMOS image sensors, high-performance robotic vision processing chips, AI computing power chips, high-bandwidth RF chip testing, and more, targeting high-demand markets such as automotive electronics, high computing power chips, sensors, and storage [4] - The company’s proactive positioning in high-barrier technology fields is expected to capture industry growth dividends, with ongoing business expansion and revenue growth anticipated to lead to profit recovery and performance breakthroughs in the future [4]