Maxic Technology(SH:688458) Xin Lang Cai Jing·2025-10-30 23:36Core Viewpoint - Meixin Sheng Technology (Beijing) Co., Ltd. is a leading enterprise in the high-performance analog and mixed-signal chip sector in China, focusing on chip R&D and sales, with strong technical barriers [1] Group 1: Business Performance - In Q3 2025, Meixin Sheng reported revenue of 422 million yuan, ranking 27th among 34 companies in the industry, with the industry leader, Goodix Technology, achieving 3.521 billion yuan [2] - The net profit for the same period was 10.32 million yuan, placing the company 17th in the industry, while the top performer, Goodix Technology, reported a net profit of 677 million yuan [2] - Year-on-year revenue growth was 46.47%, and net profit increased by 132% [6] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 5.98%, significantly lower than the industry average of 16.92%, indicating strong solvency [3] - The gross profit margin was 34.76%, up from 23.25% year-on-year, but slightly below the industry average of 36.44% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 31.42% to 7,977, while the average number of circulating A-shares held per account decreased by 23.91% [5] Group 4: R&D and Product Development - R&D investment for the first three quarters of 2025 reached 111 million yuan, a year-on-year increase of 3.42%, with the R&D expense ratio decreasing to 26.41% [6] - High-margin new products, particularly in wireless charging and signal chain segments, generated sales of 299 million yuan, a 111.01% increase year-on-year, accounting for 70.96% of total revenue [6]