Lontium(SH:688486) Zhi Tong Cai Jing·2025-12-22 23:31Company Overview - Longxin Semiconductor (Hefei) Co., Ltd. is a leading high-speed mixed-signal chip design company focused on building efficient and reliable "data highways" for smart terminals, devices, and AI applications [3] - The company's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units [3] - Longxin ranks first in the domestic video bridging chip market and is among the top five fabless design companies globally based on revenue in 2024 [3] Financial Performance - For the fiscal years 2022, 2023, and 2024, Longxin's revenues were approximately RMB 241 million, RMB 323 million, and RMB 466 million, respectively [5] - The profit figures for the same years were RMB 69.21 million, RMB 102.70 million, and RMB 144.41 million, respectively [6] - For the nine months ending September 30, 2024, and 2025, the revenues were RMB 334 million and RMB 389 million, while profits were RMB 93.99 million and RMB 124.51 million, respectively [5][6] Industry Overview - The global smart video chip market is projected to recover in 2024, with a compound annual growth rate (CAGR) of 7.4%, growing from RMB 1,090 billion in 2025 to RMB 1,450 billion by 2029 [8] - Video bridging chips and video processing chips are expected to be the fastest-growing segments, with respective CAGRs of 15.5% and 12.1% from 2025 to 2029 [9] - The AR/VR and smart automotive sectors are anticipated to be the fastest-growing applications, with the AR/VR market expected to grow from RMB 27 billion in 2025 to RMB 118 billion by 2029, reflecting a CAGR of 44.8% [10] Technology and Product Development - Longxin has expanded into a broader interconnect chip field, focusing on the development of key interconnect components such as PCIe/CXL/USB Retimer and Switch [4] - The company's solutions address the bottlenecks in multimodal data transmission in complex computing environments, meeting the stringent requirements for ultra-low latency and high bandwidth in next-generation AI infrastructure and HPC systems [4] Market Trends - The global interconnect chip market is expected to grow from RMB 1,395 billion in 2025 to RMB 2,904 billion by 2029, with a CAGR of 20.1% [12] - AI computing chips are projected to reach RMB 2,739 billion by 2029, driven by the demand for data interconnects in various high-performance computing applications [14]