以下文章来源于硬氪 ，作者乔钰杰 芯升半导体成立于 2024 年， 公司 核心团队成员主要来自华为、中兴、海思以及汽车电子体系，形成了 "芯片 + 通信 + 汽车电 子"高度融合的技术团队 。 时敏通信芯片是智能汽车通信系统中的关键基础芯片 ， 其通过引入时间敏感网络（ TSN ）机制，使传统以太网具备低时延、低 抖动和传输时间可确定的能力，可实现高精度时钟同步，并对不同优先级的数据流进行精确调度 ，满足新一代汽车集中式电子电 气架构对确定性通信的需求。 随着工业 4.0 推进， TSN 技术 在工业自动化领域快速渗透 。 而在汽车产业中，伴随智能化和集中式架构加速演进，时敏通信 芯片正成为增长最快、规模最大的应用场景之一。 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 源自国家项目， 破解智能汽车通信"卡脖子"难题。 文 ｜ 乔钰杰 编辑 ｜ 袁斯来 来源｜ 硬氪（ID：south-36kr） 封面来源 ｜ 企业供图 硬氪获悉，北京芯升半导体科技有限公司 （ 下称 "芯升半导体"） 近日完成天使轮融资，融资金额 近亿元 。本轮由中关村启航 领投，陆石投资、和高资本、零以创投、中科光荣、元起资本、 ...

作者 | 乔钰杰 时敏通信芯片是智能汽车通信系统中的关键基础芯片，其通过引入时间敏感网络（TSN）机制，使传统 以太网具备低时延、低抖动和传输时间可确定的能力，可实现高精度时钟同步，并对不同优先级的数据 流进行精确调度，满足新一代汽车集中式电子电气架构对确定性通信的需求。 随着工业4.0推进，TSN技术在工业自动化领域快速渗透。而在汽车产业中，伴随智能化和集中式架构 加速演进，时敏通信芯片正成为增长最快、规模最大的应用场景之一。 目前，国内时敏通信芯片市场规模已达数十亿元，但整体国产化率仍然偏低，长期由海外厂商主导，这 也为具备技术积累和量产能力的本土芯片企业提供了明确的国产替代窗口期。 芯升半导体技术研发起源于科技部国家重点研发计划，于2025年6月顺利通过主机厂国产以太网芯片供 应商导入审核。相关审核体系覆盖ISO9001质量管理、AEC-Q100车规可靠性、ISO26262功能安全以及 VDA6.3过程审核等多项严格标准。通过整车厂体系化审核，意味着公司已具备参与主机厂核心车型项 目的能力，也标志着国产车载通信芯片在自主可控方向上迈出了关键一步。 （企业/供图） 芯升半导体创始人徐俊亭在接受硬氪采访时表 ...

Investment Rating - The report maintains a "Strong Buy" rating for Chengdu Huami (688709.SH) [2] Core Insights - Chengdu Huami has a strong technical accumulation in Time-Sensitive Networking (TSN) and is expected to benefit from the explosive growth of the commercial aerospace market [6][7] - The company showcased its latest TSN system-level boards and FPGA core products at the 14th "Maple Forest Forum" [6] - The company has successfully developed high-speed ADC chips, breaking through technological blockades, which will significantly benefit from the rapid development of commercial aerospace [6][7] Financial Data Summary - Current stock price is 47.18 CNY with a total market capitalization of 30 billion CNY [2] - The company’s total revenue is projected to grow from 902 million CNY in 2025 to 1.467 billion CNY in 2027, reflecting a compound annual growth rate (CAGR) of approximately 26% [7] - The net profit attributable to the parent company is expected to increase from 243 million CNY in 2025 to 402 million CNY in 2027, with corresponding PE ratios of 124X and 75X respectively [7][10] Shareholder Structure - The major shareholder is China Zhinhua Electronics Group Co., Ltd., holding a 44.84% stake in the company [2] Product Development and Market Position - Chengdu Huami's TSN R&D center has been established, with a team of industry experts contributing to the development of TSN technology standards [6] - The company is positioned as a core participant in the formulation of the "Arrow-mounted TSN Technical Specifications," enhancing its competitive edge in the market [6][7] Revenue and Profitability Forecast - Revenue is expected to recover significantly in 2025 with a forecasted growth of 49% compared to the previous year [7] - The gross margin is projected to remain stable around 72% to 76% over the forecast period [10]