Core Insights - The strategic position and application value of piezoelectric devices are increasingly prominent in the context of the booming development of strategic emerging industries such as 5G communication, new energy vehicles, smart grids, and artificial intelligence. The market size of China's piezoelectric device industry is expected to reach approximately 523.4 billion yuan in 2024, representing a year-on-year growth of 5.06% [1][8]. Industry Overview - Piezoelectric devices are electronic components that operate based on the piezoelectric effect, widely used in sensing, driving, energy conversion, and signal processing, making them critical components in electronic devices such as mobile phones, medical equipment, and aerospace [2][4]. Market Size - The piezoelectric device industry in China is projected to reach a market size of approximately 523.4 billion yuan in 2024, with a year-on-year growth rate of 5.06% [1][8]. Key Companies - The competitive landscape of the piezoelectric device industry in China features a "technology stratification and scenario differentiation" characteristic. Key players include: - **SanHuan Group**: Dominates in optical fiber ceramic inserts and ceramic packaging bases, achieving a revenue of 6.508 billion yuan in the first three quarters of 2025, a year-on-year increase of 20.96% [9][10]. - **Unisoc**: Focuses on piezoelectric quartz crystal frequency devices, with a revenue of 4.904 billion yuan in the first three quarters of 2025, a year-on-year increase of 15.05% [10]. - **Audiwei**: Leads in the domestic market share of automotive ultrasonic sensors [9]. - **Guangdong Huilun Crystal Technology**: Specializes in miniaturized resonators to meet high-frequency demands in IoT [9]. Industry Development Trends 1. **Accelerated Technological Innovation**: The industry is moving towards lead-free and high-performance developments, with breakthroughs in lead-free piezoelectric ceramics such as KNN, enhancing piezoelectric strain by 200% [11]. 2. **Surging Market Demand**: The demand for piezoelectric devices is driven by 5G, new energy vehicles, and medical ultrasound applications, with each new energy vehicle incorporating 15-20 piezoelectric sensors [12]. 3. **Industry Chain Integration**: The industry is enhancing competitiveness through vertical integration and cross-industry fusion, with companies optimizing processes to improve mechanical quality factors [13].

Company Overview - Haoda Electronics has restarted its IPO process after previously withdrawing it in December 2022, with the guidance of Minsheng Securities [1] - The company specializes in the research, design, production, and sales of surface acoustic wave (SAW) radio frequency chips, with products including filters, duplexers, and oscillators [1][2] - Haoda Electronics aims to raise 960 million yuan for expansion projects and working capital [1] Product and Technology - The company has developed core technologies that allow it to design and manufacture high-performance SAW RF chip products [1] - Haoda Electronics utilizes CSP packaging technology, achieving product sizes of 0.9mm×0.7mm and 1.6mm×1.2mm, meeting industry miniaturization demands [1] - The company also employs WLP packaging technology, with filter and duplexer products reaching sizes of 0.8mm×0.6mm and 1.5mm×1.1mm, suitable for modular development [2] Market Position and Challenges - Haoda Electronics' products are widely used in the communication field, covering a frequency range of 30KHz to 3.6GHz, but the domestic industry still lags behind international leaders in technology [2] - The domestic SAW filter industry is in its early stages, with significant reliance on imports for mobile phone filters [2] - The major shareholder of Haoda Electronics is Wuxi Haoda Investment Co., Ltd., holding a direct stake of 25.19% [2]