Quan Jing Wang·2025-12-10 08:33Core Viewpoint - The event "New Journey of Investment Education Service" held by Dongfang Securities at Zhongying Electronics provided a platform for investors to gain insights into the company's operations and future strategies, highlighting its resilience and competitive edge in the semiconductor industry [1][13]. Company Overview - Zhongying Electronics, established in 1994 and listed on the Shenzhen Stock Exchange in 2012, operates under a Fabless business model, focusing on three main product lines: industrial-grade microcontroller chips (MCU), battery management chips (BMIC), and AMOLED display driver chips [3]. - The company's MCU products are widely used in home appliances, while BMIC products cater to consumer electronics and power tools, and AMOLED chips are primarily for smartphones and smart home devices [3]. Market Position - Zhongying Electronics ranks among the top manufacturers in the Greater China region for smart home appliance MCUs and holds a leading position in the battery management MCU market, being the first domestic company to achieve mass production of AMOLED display driver chips [3]. Financial Performance - The company anticipates a decline in net profit for 2023-2024 due to falling product prices and high wafer costs, with the integrated circuit industry entering a cyclical reversal since the second half of 2022 [8]. - Despite revenue decline, the company projects a growth in sales volume from 713 million units in 2022 to 885 million units in 2024, reflecting a compound annual growth rate of over 10% [8]. Research and Development - Zhongying Electronics plans to invest 300 million yuan in R&D in 2024, accounting for 22.35% of its revenue, which is considered high within the IC industry [8]. - The company is focusing on optimizing its product structure and has introduced new products utilizing 32-bit cores and 55nm processes, while also enhancing collaboration with domestic wafer manufacturers to reduce costs [8]. International Expansion - The company has begun supplying its white goods MCU directly to international brands, with expected shipments nearing 10 million units this year, indicating a strong growth trajectory in international markets [8]. ESG Initiatives - Zhongying Electronics integrates ESG principles into its operations and product design, aiming for significant indirect carbon reductions through energy-efficient products [10]. - The company has completed a digital upgrade and plans to achieve smart operations by 2026, incorporating AI technology to enhance operational efficiency [10]. - Social responsibility efforts include fostering employee engagement in community projects, ensuring that donations directly benefit recipients [10]. Investor Engagement - The event facilitated direct communication between the company's leadership and investors, addressing concerns about performance fluctuations and sharing strategic insights for future growth [5][10]. - Investors were able to experience the company's technological capabilities and innovation through product demonstrations and exhibitions [11].