SMEI(SZ:300456) Xin Lang Cai Jing·2025-08-27 06:48Core Viewpoint - The company, Saiwei Electronics, is a leading global high-end integrated circuit wafer manufacturer focusing on MEMS chip manufacturing and semiconductor equipment, with a strong emphasis on innovation and market expansion to enhance its core competitiveness in the MEMS industry [1][2]. Group 1: Company Overview - Saiwei Electronics operates as a Pure Foundry in the MEMS sector, focusing on chip manufacturing and supporting Fabless and Fablite design companies to foster innovation [1]. - The company has established multiple pilot and mass production platforms both domestically and internationally, serving clients in various high-tech fields such as silicon photonics, LiDAR, and AI computing [1]. Group 2: Technological Advancements - Continuous technological breakthroughs have been made, including the development of high-end filters and improvements in MEMS micro-mirror production processes, leading to successful mass production of new generation products [2]. - The company is also involved in national key research projects, enhancing its capabilities in MEMS sensor manufacturing [2]. Group 3: Market Position and Strategy - The company is positioning itself to transition from a pure foundry model to an IDM (Integrated Device Manufacturer) model, aiming to create a more complete ecological barrier in the MEMS field [1]. - A strategic acquisition of a 56.24% stake in Qingdao Zhancheng Technology for 157 million yuan aims to enhance its IC design services and EDA software development capabilities, further integrating its manufacturing and design services [4]. Group 4: Financial Performance and Projections - Following the exit of SieX, the company's revenue has seen a decline, but steady growth is expected in its Beijing operations, with an anticipated increase in the proportion of high-value products like OCS [5]. - Revenue projections for 2025-2027 are estimated at 916 million yuan, 634 million yuan, and 737 million yuan respectively, indicating a positive outlook for the company's long-term development value [5][6].