Novosense(SH:688052) Jing Ji Guan Cha Wang·2025-09-27 06:54Core Insights - The article highlights the significant progress of Chinese companies in the automotive chip market, particularly focusing on Naxin Micro, which has emerged as a leading player in the automotive analog chip sector in China [2][4]. Group 1: Market Evolution - Over a decade ago, the automotive chip market in China was dominated by Western giants, with little to no presence from Chinese firms [2]. - Five years ago, domestic chips were largely overlooked in the automotive supply chain, but the landscape has changed dramatically [2]. - Naxin Micro's early focus on automotive electronics positioned it well to capitalize on the electrification and intelligent transformation of the Chinese automotive industry [3][4]. Group 2: Product Development and Innovation - Naxin Micro launched its first automotive-grade chip in 2016, marking its entry into the automotive chip sector [4]. - The company has developed products addressing critical safety issues in electric vehicles, such as high-voltage isolation technology [5]. - By 2023, Naxin Micro's products had achieved significant market penetration, with 164 million units shipped in the automotive electronics sector [5]. Group 3: Competitive Landscape - The chip market has shifted from a supply-driven environment to a more competitive landscape, with international giants adjusting their strategies to counter emerging Chinese firms [7]. - Naxin Micro's products are now competing directly with international brands in high-pressure core areas of electric vehicles, focusing on performance, reliability, and functional safety [8][9]. - The company aims to provide over 2000 yuan worth of chip products per electric vehicle, reflecting confidence in the growing demand for automotive chips [9]. Group 4: Strategic Partnerships and Client Engagement - Naxin Micro has adapted to the changing dynamics of the automotive supply chain, moving towards a more integrated and collaborative model with automakers [12][13]. - The company has established dedicated sales teams to engage directly with automakers, ensuring that chip selection aligns with vehicle design from the early stages [13][14]. - This shift emphasizes the importance of close communication and collaboration among chip manufacturers, Tier 1 suppliers, and automakers to manage the complexities of modern vehicle production [14]. Group 5: Industry Consolidation and Future Outlook - The chip industry is entering a phase of differentiation, where only companies with core competencies will thrive [15]. - Naxin Micro's acquisition of Maguan represents a strategic move towards industry consolidation, enhancing its capabilities in magnetic sensor technology [16]. - The company is also preparing for an IPO in Hong Kong to support its international expansion and increase its overseas revenue, which is projected to be around 15% in 2024 [18][20].