Core Viewpoint - Naxin Micro is entering the MCU market with a focus on real-time control MCUs, differentiating itself from the highly competitive general MCU market [1][3]. Group 1: Market Entry and Strategy - Naxin Micro aims to create a competitive real-time control MCU ecosystem, leveraging its unique position as the only company offering a full range of C2000 PIN-to-PIN compatible products [3][4]. - The company has identified high barriers to entry in the real-time control MCU market, which has been dominated by TI for over a decade, due to specialized application scenarios and stringent reliability requirements [3][4]. - Naxin Micro's strategy includes targeting the mid-range market first, as it has the broadest application scenarios, particularly in areas requiring real-time performance [8][10]. Group 2: Product Development and Ecosystem - Naxin Micro has developed a comprehensive ecosystem for its MCUs, including development tools, application solutions, and software support, to facilitate customer adoption [4][6]. - The company has created a self-developed development environment, NovoStudio, based on open-source GCC and Eclipse architecture, to meet diverse customer needs [4]. - Naxin Micro's real-time control MCUs are designed with a focus on compatibility and ease of migration for customers, aiming for minimal changes in hardware and software during the transition [5][6]. Group 3: Market Focus and Customer Collaboration - The core markets for Naxin Micro's real-time control MCUs include digital power and motor control, with applications in industrial and automotive sectors [8][9]. - The company has successfully entered the mass supply phase for its MCUs in the wind and solar energy inverter and industrial motor drive sectors, with automotive electronics expected to follow soon [9][10]. - Naxin Micro benefits from existing relationships with customers who already use its analog products, facilitating quicker adoption of its MCU offerings [9][10]. Group 4: Product Architecture and Performance - Naxin Micro has established a product lineup across low-end, mid-range, and high-end segments, all utilizing the Arm Cortex-M7 core to ensure high performance and real-time capabilities [12][14]. - The company’s strategy of using the Cortex-M7 core across all product tiers allows for a consistent performance level, even in lower-end products, enhancing value for customers [13][14]. - Naxin Micro's eMath core provides significant computational advantages, particularly in applications requiring complex mathematical operations, positioning it competitively against established players like TI [18][19]. Group 5: Future Outlook and Long-term Commitment - Naxin Micro has outlined a long-term business plan for its MCU segment, with a focus on integrating AI capabilities into future products, targeting edge AI and real-time control applications [20][21]. - The company recognizes that the transition to real-time control MCUs will be gradual, emphasizing the importance of deep understanding of application scenarios and overall system performance [21]. - Naxin Micro's accumulated experience in analog products provides a strong foundation for its MCU business, enabling faster market penetration and product iteration [10][21].

Group 1 - Gao Yi Asset Management recently conducted research on a listed company, Naxin Micro, highlighting the demand trends in various downstream application fields, particularly the high growth in new energy vehicle sales and the impact of smart technology on automotive electronics [1] - Naxin Micro reported that the impact of US-China tariff policies is minimal, with the majority of revenue coming from domestic markets [1] - The company has launched its first generation of SerDes chips aimed at camera applications, and has introduced automotive chips including isolation smart drivers and motor drivers, with some products experiencing rapid volume growth [1] Group 2 - Naxin Micro is making good progress in overseas markets, collaborating with leading automotive manufacturers in Europe, Japan, and South Korea [1] - The company anticipates share-based payment expenses of 80 million yuan, with a quarterly expense of 20 million yuan [1] - Naxin Micro is expanding its product portfolio by developing real-time control MCUs and automotive SoCs, although future gross margins may decline due to market competition, improvements are expected through cost management and mass production of high-complexity products [1]