2Q Revenues (Rmb2.6bn, +21% YoY/ +2% QoQ) and Net income (Rmb197m, +83% YoY/ +45% QoQ) were in-line with pre-announcement, with GM of 24% lower QoQ due to increased D&A. Looking forward, we expect Nexchip to continuously ramp up productions with its new capacities, and see increasing contributions from more diverse products including CIS and PMIC. We remain positive on company's mix upgrade towards 55nm/ 40nm/ 28nm, and partnership with clients on featured products (e.g. cooperation with SmartSens on Stacke ...