浙大校友夫妻掌舵，东北图像传感器龙头冲刺港交所，拿下多个“中国第一”

Core Insights - 长光辰芯 is a leading company in the high-performance CMOS image sensor (CIS) industry, established in September 2012 with an initial registered capital of 20 million RMB [2][32]. - The company has achieved significant milestones, including the development of the world's first BSI sCMOS image sensor in 2015 and has expanded into various imaging fields, earning recognition as a national-level "little giant" enterprise in 2022 [5][32]. - As of 2024, 长光辰芯 ranks third globally and first in China in terms of industrial imaging revenue, capturing 15.2% of the global market share [6][7]. Product Portfolio - 长光辰芯 offers a diverse product range with nine major product series and over 50 standard products, including customized sensor solutions [2][4]. - The company’s revenue composition in 2024 shows that 61.6% comes from area array sensors, 12.2% from line array sensors, and 24.1% from customized sensor solutions [14]. Financial Performance - The company reported revenues of 6.04 billion RMB, 6.05 billion RMB, and 6.73 billion RMB for the years 2022, 2023, and 2024, respectively, with profits of -0.84 billion RMB, 1.70 billion RMB, and 1.97 billion RMB [9][12]. - The gross profit margins for the years 2022, 2023, and 2024 were 76.2%, 63.5%, and 59.0%, respectively [16][17]. - The company’s operating cash flow has shown positive growth, with net cash flow from operating activities of 121.88 million RMB, 208.26 million RMB, and 224.84 million RMB for the years 2022, 2023, and 2024 [21]. Market Position - In the industrial imaging sector, 长光辰芯 holds a 15.2% market share, ranking third globally and first in China [6][7]. - In the scientific imaging sector, the company also ranks third globally and first in China, with a market share of 16.3% [8]. Research and Development - 长光辰芯 has established 11 core proprietary technologies and holds 49 registered invention patents globally [21][22]. - The R&D team comprises 201 members, accounting for 50.1% of the total workforce, emphasizing the company's commitment to innovation [22]. Customer and Supplier Dynamics - The company primarily adopts a direct sales model, with over 90% of revenue generated from direct sales in the past three years [23][24]. - Major customers include leading manufacturers in industrial imaging and scientific imaging, with the top five customers contributing approximately 33.5% of total revenue in 2024 [25][26]. Global Reach - 长光辰芯's sensors have been exported to over 30 countries and regions, with overseas revenue accounting for 26.0% of total revenue in 2024 [19][20].