公开资料显示，中微半导是国内领先的智能控制解决方案供应商，以微控制器（MCU）研发与设计为 核心，专注于芯片设计与销售，致力为消费电子、智能家电、工业控制及汽车电子等各类智能终端设备 提供高性能、低功耗、高集成度的芯片产品及系统解决方案。 据产业链消息，另一家半导体公司国科微也对客户发出涨价函，国科微宣布自1月起对合封512Mb的 KGD（已知合格芯片）产品涨价40%，对合封1Gb的KGD产品涨价60%，对合封2Gb的KGD涨价80%， 对外挂DDR的产品价格另行通知。 公开资料显示，国科微长期致力于智慧超高清、智慧视觉、人工智能、车载电子等领域大规模集成电路 及解决方案开发。公司已推出了直播卫星高清芯片、4K/8K超高清解码芯片、4K/8K超高清显示芯片、 AI视觉处理芯片、车载AI芯片等一系列拥有核心自主知识产权的芯片。 中微半导、国科微2家半导体公司相继发出涨价函，公司旗下部分芯片产品将不同程度涨价。 中微半导今日发布的涨价通知函显示，受当前全行业芯片供应紧张、成本上升等因素的影响，封装成品 交付周期变长，成本较此前大幅度增加，框架、封测费用等成本也持续上涨。鉴于当前严峻的供需形势 以及巨大的成本压力， ...

Investment Rating - The report maintains a "Buy" investment rating for the company [1]. Core Views - The company plans to acquire Zhongxin Ningbo, aiming to build a full industry chain capability of "chip design + wafer processing" [1][6]. - In 2024, the company experienced a significant revenue decline of 53.26% due to market demand slowdown and intensified competition, but managed to achieve a slight profit increase of 1.13% in net profit [5]. - The company has a diverse chip design capability and has launched various chips with core proprietary intellectual property in multiple fields [6]. - The acquisition of Zhongxin Ningbo is expected to enhance the company's capabilities in high-end BAW filter manufacturing and expand its presence in the RF front-end industry [7][8]. Summary by Sections Financial Performance - In 2024, the company reported total revenue of 197,789.18 million yuan, a year-on-year decrease of 53.26%, while net profit reached 9,715.47 million yuan, a year-on-year increase of 1.13% [5]. - The overall gross margin improved to 26.29%, an increase of 13.85 percentage points year-on-year [5]. - R&D investment for 2024 was 67,532.16 million yuan, reflecting a growth of 10.26% year-on-year [5]. Business Strategy - The company is transitioning towards a full industry chain model by integrating chip design and wafer processing capabilities through the acquisition of Zhongxin Ningbo [6]. - The company has established strategic partnerships with leading mobile communication terminal companies, enhancing its market position in the RF front-end sector [7][8]. Earnings Forecast - The company forecasts revenues of 23.35 billion yuan, 28.04 billion yuan, and 35.23 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.58, 1.00, and 1.32 yuan [9]. - The current stock price corresponds to PE ratios of 147, 86, and 65 for the years 2025, 2026, and 2027 respectively [9].