Xin Lang Cai Jing·2025-09-04 07:42Group 1 - The core viewpoint of the article highlights the recent research conducted by QuanGuo Fund on Fudan Microelectronics, focusing on the company's strategic direction and product development [1][2]. - QuanGuo Fund was established on February 8, 2022, and currently manages assets totaling 16.396 billion yuan across six funds, with the best-performing fund in the past year being QuanGuo XuYuan Three-Year Holding Mixed A, achieving a return of 48.96% [1][2]. - The company is enhancing its business units' capabilities and focusing on supply chain construction while exploring new product lines to drive high-quality growth [1][2]. Group 2 - The FPAI heterogeneous fusion architecture chip integrates CPU, FPGA, and NPU, with a product development range from 4 TOPS to 128 TOPS, and the first 32 TOPS chip is progressing well in the market [3]. - The FPGA products are primarily based on 28nm technology, with ongoing efforts to expand into 1xnm FinFET ten billion gate products [4]. - The company is a leading FPGA supplier in China, actively building a "chip-software-solution" ecosystem [5]. Group 3 - In the first half of the year, the revenue from the security and identification chip product line was approximately 393 million yuan, accounting for 21% of total revenue, with some sub-line revenues declining due to market impacts [6]. - The RFID and sensor chip sub-lines, as well as the smart identification device chip sub-line, performed well, with the company maintaining a leading market share in several niche areas [6]. - The smart meter chip product line continued to grow, with sales increasing in various applications, including smart water, gas, and heat meters, as well as industrial control [6].