Chipsea(SH:688595) Xin Lang Cai Jing·2025-05-26 07:32Core Viewpoint - The 2025 Taipei International Computer Show (COMPUTEX) focuses on "AI Next," showcasing nearly 1,400 tech companies discussing the new ecosystem of the computing industry, with Chipsea Technology (688595.SH) highlighting its innovations in peripheral chips for PCs [1] Group 1: Company Innovations and Product Development - Chipsea Technology launched its first domestic 32-bit high-performance EC chip CSC2E101 in 2022, breaking the long-standing monopoly of foreign manufacturers and achieving Intel PCL certification [2] - The company's EC products now feature high performance, security, and computing power, integrating various functionalities such as secure boot and environmental sensing, thus redefining industry standards [2] - Chipsea's EC chip E2010 boasts a core performance 20 times that of similar international products while maintaining a sleep power consumption of only 30%, showcasing superior energy efficiency [2] Group 2: Market Strategy and Ecosystem Integration - The entry into the PC market is a strategic decision based on insights into future market prospects and aligns with the company's technological capabilities [4] - Chipsea has established a comprehensive ecosystem by integrating sensing, control, power, and connectivity technologies, enhancing its alignment with the growing demand for precise sensing and control in the PC peripheral market [4] - The company has successfully integrated into Intel's global supply chain and collaborated with the HarmonyOS ecosystem, leading to significant project opportunities and product shipments [5] Group 3: Research and Development Investment - In 2024, Chipsea's R&D investment reached 240 million yuan, accounting for 34.15% of its revenue, reflecting an 8.01% year-on-year increase, with a strong patent portfolio including 856 invention patents [5] - The company has developed a robust supply chain with R&D subsidiaries across multiple cities in China, ensuring reliable production capacity and quick response to market demands [5] Group 4: Future Growth and Market Position - Chipsea's PC business is rapidly developing, with a product ecosystem covering various PC peripherals and a focus on AI PCs, which are expected to dominate the market by 2027 [6] - The company is transitioning from "domestic substitution" to "competitive substitution," aiming to capture market share and achieve its goal of becoming a world-class supplier of computing peripheral chips [6] - Analysts predict that Chipsea's net profit will reach 18 million yuan in 2025 and 123 million yuan in 2026, indicating a promising growth trajectory [6]