Core Viewpoint - Shenzhen Amperelong Technology Co., Ltd. has recently engaged with 18 institutions, including Tianfeng Securities and E Fund, for investor activities, showcasing strong operational performance in the first half of 2025 with significant revenue growth and strategic advancements in various sectors [1] Group 1: Investor Activities - The investor activities included specific object research, on-site visits, and online meetings held from September 5 to September 25, 2025 [1] - Participating institutions included Tianfeng Securities, Century Asset Management, and E Fund among others [1] - Company representatives included Zhang Yanhong, the Secretary of the Board, and Peng Biyong, the Director of Investor Relations [1] Group 2: Financial Performance - In the first half of 2025, the company achieved a revenue of 553,874,075.46 yuan, representing a year-on-year increase of 34.44% [1] - Domestic revenue was 468,344,613.60 yuan, up 38.03%, accounting for 84.56% of total revenue, while overseas revenue was 85,529,461.86 yuan, up 17.68%, making up 15.44% [1] - Net profit attributable to shareholders was 42,132,049.92 yuan, a 19.60% increase year-on-year, with a net profit of 38,266,307.13 yuan after deducting non-recurring gains, reflecting a 24.76% growth [1] Group 3: Product Performance - Pressure sensors generated revenue of 292.41 million yuan, a 61.88% increase, contributing 52.79% to total revenue [1] - Thermistors and temperature sensors achieved revenue of 251.40 million yuan, up 12.99%, accounting for 45.39% of total revenue [1] - MEMS pressure sensors saw a remarkable revenue increase of 382.33%, reaching 24.45 million yuan, indicating strong demand in automotive and home appliance applications [1] Group 4: Strategic Developments - The company is actively expanding into the robotics sector by forming a research team focused on force control sensors [1] - Global expansion includes establishing a wholly-owned subsidiary in Germany for localized sales and support, a research subsidiary in Belgium for sensor chip technology, and a subsidiary in Hong Kong for supply chain coordination [1] - Progress on the production line for EMB brake system force sensors is underway, with equipment selection completed and installation in progress to meet market demand [1]

（中压）、玻璃微熔压力传感器（高压）为核心的压力传感器产品矩阵体系， 实现了低、中、高全压力量程覆盖的产业化落地与规模化应用。通过创新结 构设计与工艺优化，系列产品性能已达到国际先进水平，成功实现与森萨塔、 德国博世等国际头部企业的对标。产品广泛应用于汽车领域的动力总成系统 （发动机及变速箱等）、底盘及制动系统、空调及热管理系统，家电领域的 空调管路控制及咖啡机等场景，以及储能液冷热管理系统，形成多领域协同 发展格局。随着公司积极拓展国内外市场，在不同应用领域的新客户及新项 目需求增加，带动了公司压力传感器订单快速增长。 问题 3：请介绍一下公司 MEMS 压力传感器经营情况。 证券代码：301413 证券简称：安培龙 深圳安培龙科技股份有限公司投资者关系活动记录表 编号：2025-010 | 投资者关系活动类 | ☑ 特定对象调研 | | | □分析师会议 | | | --- | --- | --- | --- | --- | --- | | 别 | □媒体采访 | | | □业绩说明会 | | | | □新闻发布会 | | | □路演活动 | | | | 现场参观 ☑ | | | | | | | ☑ 其他 ...

Core Viewpoint - Sensirion Co., Ltd. (688286) has achieved profitability in the first half of 2025, with revenue from pressure product lines surpassing that of sensors, while also expanding into the humanoid robot sensor field [1][2]. Financial Performance - In the first half of this year, the company reported a net profit attributable to shareholders of 25.19 million yuan, marking a significant turnaround from losses [1]. - The overall gross profit margin for products increased to 31.64%, up by 10.21 percentage points year-on-year [1]. - The second quarter saw the company leading in profit growth within the analog chip sector [1]. Product Development and Market Position - The growth in performance is primarily attributed to the widespread application of MEMS acoustic sensors in consumer electronics and automotive electronics, as well as the ongoing expansion of MEMS pressure sensors in electronic cigarettes, medical devices, and industrial control markets [1]. - The high-margin pressure product line has now surpassed the acoustic product line, becoming the largest contributor to the company's revenue [1]. - The revenue share from inertial sensor products is also rapidly increasing, contributing to the overall improvement in product gross margins [1]. Strategic Initiatives - The company has entered multiple brand selections for waterproof barometer products and is promoting these devices for mobile phone applications, aiming to expand from smartwatches to mobile downstream applications [2]. - The company’s inertial product shipments are gradually increasing, with the market remaining competitive, primarily focused on consumer products [2]. - The company’s subsidiary, Zhonghong Weiyu, has seen significant revenue growth in its IMU (Inertial Measurement Unit) products and is developing future applications for automotive, robotics, and agricultural machinery [2]. Research and Development Focus - The company is actively laying out plans in the humanoid robot sensor field, initiating research projects for six-dimensional force sensors, IMUs for robots, and glove-type pressure and temperature sensors [2]. - With the introduction of new AI models, there is a growing demand for high signal-to-noise ratio digital microphones, prompting the company to develop low-power digital microphones for applications in AI assistants, AI phones, and AI glasses [3]. - The company aims to diversify its pressure products from wearable devices to mobile applications, expanding its market share among well-known brands and focusing on mobile altimeter applications [3].

Core Viewpoint - In Q2 2025, the company achieved a revenue growth of 43.9% year-on-year, with an improvement in gross margin both year-on-year and quarter-on-quarter [3][4]. Financial Performance - For the first half of 2025, the company reported a revenue of 304 million yuan, representing a year-on-year increase of 47.82%, and a net profit attributable to shareholders of 25 million yuan, marking a turnaround from losses. The gross margin stood at 31.64%, up by 10.21 percentage points year-on-year [4]. - In Q2 2025, the company generated a revenue of 169 million yuan, reflecting a year-on-year increase of 43.9% and a quarter-on-quarter increase of 25.2%. The net profit attributable to shareholders was 22 million yuan, showing a year-on-year growth of 207.9% and a quarter-on-quarter growth of 684.3%. The gross margin for this quarter was 36.2%, an increase of 15.2 percentage points year-on-year and 10.2 percentage points quarter-on-quarter [4]. Product Line Performance - The company experienced significant growth in multiple product lines, with pressure sensor revenue reaching 133 million yuan, a year-on-year increase of 67.05%, and inertial sensor revenue at 20 million yuan, a year-on-year increase of 98.82%. The increase in high-margin products has significantly improved the company's profitability, with Q2 2025 gross margin reaching a four-year high of 36.2% [5]. - In the first half of 2025, MEMS pressure sensors, MEMS acoustic sensors, and MEMS inertial sensors accounted for approximately 44%, 37%, and 6.5% of the company's main business revenue, respectively. The pressure sensor business has surpassed the acoustic product line to become the largest revenue contributor [5]. New Product Development - The demand for new consumer electronics driven by AI applications is increasing, with the MEMS acoustic sensor positioned as a key input for AI voice interaction technology. The company has begun developing high signal-to-noise ratio, low-power digital microphones, with some models already in small-scale production. Additionally, the company is focusing on R&D for next-generation products, including bone conduction acoustic sensors for AI glasses and six-dimensional force sensors based on MEMS chips [6].

Core Viewpoint - The analog chip sector has shown remarkable performance in the secondary market this year, with companies like Zhenlei Technology (688270) seeing their stock prices double, driven by advancements in automotive electronics, energy, and artificial intelligence [1][4]. Group 1: Industry Performance - The analog chip sector is a significant branch of semiconductors, processing analog signals and widely used in various applications such as sound, light, and temperature [1]. - The sector's profitability growth rate is the highest among A-share semiconductor sub-industries, with the analog chip index rising nearly 18% this year [1][4]. - In the first half of this year, the A-share semiconductor industry achieved a revenue of 321.2 billion yuan and a net profit of approximately 24.5 billion yuan, marking a year-on-year growth of about 30% [4]. Group 2: Company Highlights - Zhenlei Technology reported a net profit of approximately 62.32 million yuan in the first half of the year, a tenfold increase year-on-year, benefiting from the recovery in the satellite internet industry [6]. - Si Rui Pu achieved a net profit of nearly 65.69 million yuan, significantly reversing losses, with a 50% year-on-year revenue growth in its industrial market segment [6][7]. - Jin Feng Ming Yuan reported a net profit of 15.76 million yuan, also reversing losses, driven by high-performance computing power supply chip sales [7]. Group 3: Product Structure Upgrade - The median gross profit margin for the analog chip industry increased from 34.72% in Q1 to 35.05% in Q2 this year [9]. - Companies like Xin Dong Lian Ke and Zhenlei Technology reported gross profit margins of nearly 88% and 83%, respectively, benefiting from increased demand in consumer electronics and automotive electronics [9]. - Ai Wei Electronics saw a 70% year-on-year increase in net profit, achieving 156 million yuan, despite a decline in revenue, due to new product launches and market expansion [10]. Group 4: Inventory Turnover - The inventory turnover for the analog chip industry improved, with a median of nearly 177 days in Q2, surpassing the level from the same period last year [13]. - Approximately 60% of listed companies in the sector reduced their inventory turnover days, indicating improved operational efficiency [13]. - Companies like Ju Quan Technology and Zhenlei Technology significantly compressed their inventory turnover days, while others like Zhuo Sheng Wei and Sai Wei Wei Dian experienced extended turnover days [13].

Core Viewpoint - The analog chip sector has shown remarkable performance in the secondary market this year, with companies like Zhenlei Technology (688270) seeing their stock prices double, driven by technological upgrades and structural improvements in response to emerging industries such as automotive electronics, energy, and artificial intelligence [1][3]. Group 1: Industry Performance - The analog chip sector's profit growth rate is the highest among A-share semiconductor sub-sectors, with an index increase of nearly 18% this year [1][3]. - In the first half of this year, the A-share semiconductor industry achieved operating revenue of 321.2 billion yuan and a net profit of nearly 24.5 billion yuan, marking a year-on-year growth of approximately 30% [3]. - The second quarter saw a nearly 60% quarter-on-quarter profit growth in the semiconductor industry, with analog chip companies experiencing a profit increase of about four times compared to the previous quarter [3]. Group 2: Company Highlights - Zhenlei Technology reported a net profit of approximately 62.32 million yuan in the first half of the year, a tenfold year-on-year increase, benefiting from the recovery in the satellite internet industry [5]. - Sireen Technology achieved a net profit of nearly 65.69 million yuan in the first half, significantly reversing losses, with a 50% year-on-year revenue growth in its industrial market segment [5]. - Jingfeng Mingyuan's net profit reached 15.76 million yuan in the first half, driven by high-performance computing power supply chip sales, which increased by about 40% year-on-year [6]. Group 3: Product Structure and Profitability - The median gross profit margin for the analog chip industry increased from 34.72% in Q1 to 35.05% in Q2 this year, with companies like Xindong Technology achieving a gross margin close to 88% [7]. - Sensor manufacturer Minxin Technology reported a significant turnaround with a net profit of 25.19 million yuan, benefiting from the widespread application of MEMS acoustic sensors [7][8]. - Awei Electronics, despite a decline in revenue, saw a 70% year-on-year increase in net profit, reaching 156 million yuan, attributed to new product launches and improved gross margins [8]. Group 4: Inventory and Operational Efficiency - The inventory turnover in the analog chip industry improved, with a median of nearly 177 days in Q2, surpassing the level from the same period last year [10]. - Approximately 60% of listed companies in the sector reduced their inventory turnover days, with companies like Xidi Micro and Sireen Technology showing significant reductions [10]. - Despite a decline in revenue, leading RF chip company Zhaoshengwei reported a net loss of 14.7 million yuan, with a gross margin drop from 42.11% to 28.75% [10][12].

Group 1 - The core viewpoint of the news is that Minxin Technology Co., Ltd. has seen a significant increase in its stock price, rising 5.09% on September 2, with a cumulative increase of 22.72% over four consecutive days [1] - As of the report, Minxin's stock price is 103.65 yuan per share, with a trading volume of 4.79 billion yuan and a turnover rate of 8.80%, resulting in a total market capitalization of 58.07 billion yuan [1] - The company specializes in the research and sales of MEMS sensor products, with its main revenue sources being MEMS pressure sensors (43.83%), MEMS acoustic sensors (37.09%), packaging technology solutions (12.43%), MEMS inertial sensors (6.50%), and others (0.15%) [1] Group 2 - From the perspective of fund holdings, the Jiao Yin Schroder Fund has a significant position in Minxin Technology, with its multi-strategy flexible allocation mixed fund holding 72,800 shares, accounting for 1.26% of the fund's net value, making it the fifth-largest holding [2] - The fund has realized a floating profit of approximately 365,700 yuan today, and during the four-day increase, the floating profit reached 1,330,100 yuan [2] - The fund was established on June 2, 2015, with a current scale of 269 million yuan, and has achieved a year-to-date return of 9.49% [2]

Core Viewpoint - Suzhou Memsensing Microsystems Co., Ltd. reported significant growth in revenue and profit for the first half of 2025, driven by increased sales in new product lines and effective cost management. Financial Performance - Revenue for the first half of 2025 reached approximately 303.99 million yuan, a 47.82% increase from 205.65 million yuan in the same period last year [3][5] - Total profit amounted to approximately 25.75 million yuan, a significant recovery from a loss of 35.87 million yuan in the previous year [4][5] - Net profit attributable to shareholders was approximately 25.19 million yuan, compared to a loss of 35.16 million yuan in the same period last year [4][5] - The net cash flow from operating activities improved by approximately 39.41 million yuan, reflecting increased sales and collection of receivables [5] Business Overview - The company specializes in MEMS (Micro-Electro-Mechanical Systems) sensor products, focusing on design, manufacturing, and sales [6][9] - Key product lines include MEMS acoustic sensors, pressure sensors, and inertial sensors, with a strong emphasis on R&D and market expansion [6][9] - The company aims to become a leading platform enterprise in the MEMS chip industry, leveraging its technological capabilities and market presence [6][12] Industry Context - The MEMS industry is experiencing rapid growth, with a projected global market size of approximately 22.25 billion USD by 2027, reflecting a compound annual growth rate of 9.30% from 2018 to 2027 [10][11] - The demand for MEMS sensors is driven by advancements in IoT, AI, and 5G technologies, which require low-power, high-performance sensing solutions [11][19] - The company is well-positioned to capitalize on emerging opportunities in various sectors, including consumer electronics, automotive, industrial control, and healthcare [12][19] Technological Advancements - The company has developed proprietary technologies in MEMS sensor design, wafer manufacturing, packaging, and testing, ensuring a competitive edge in the market [17][18] - It holds a significant number of patents, with 162 granted and 287 pending, indicating a strong commitment to innovation and intellectual property development [17][18] - The company is actively involved in national and provincial research projects, enhancing its technological capabilities and industry standing [17][18]

Core Viewpoint - BOE Technology Group reported strong financial performance in the first half of 2025, with revenue of 101.28 billion yuan, a year-on-year increase of 8.45%, and a net profit attributable to shareholders of 3.25 billion yuan, up 42.15%, reflecting its strategic focus on "screen-based IoT" and high-quality development [1][5]. Group 1: Display Industry Performance - BOE maintained its leading position in the global display industry, ranking first in shipment volume across five major applications: smartphones, tablets, laptops, monitors, and TVs [1]. - The company launched its sixth-generation semiconductor display production line in May 2025, marking a transition from construction to operational phase [1]. Group 2: Flexible Display and Sensor Business - In the flexible display sector, BOE introduced various high-end solutions such as foldable and rollable screens, while also expanding into automotive and IT applications [2]. - The sensor business saw significant growth, with revenue increasing by 36.8% year-on-year, driven by successful product launches and partnerships [2]. Group 3: MLED and Smart Medical Services - The MLED business experienced explosive growth, with backlight device revenue rising by 144% year-on-year, focusing on TV, automotive, and gaming markets [3]. - In the smart medical sector, BOE's hospitals reported 688,000 outpatient visits and 33,000 discharges, showcasing enhanced medical service capabilities [3]. Group 4: Diverse Sector Development - BOE's "1+4+N+ ecosystem" strategy has yielded significant results across various sectors, including automotive displays, digital cultural tourism, and energy solutions [4]. - The company is investing in solar power stations, achieving a reduction of approximately 400,000 tons of CO2 emissions [4]. Group 5: Future Strategy - Looking ahead, BOE plans to continue its market-oriented, international, and professional development path, focusing on innovation and sustainable growth in the semiconductor display and IoT industries [5].

Core Insights - The MEMS industry is expected to see new growth opportunities in 2024, with global revenue reaching $15.4 billion, a 5% year-over-year increase, driven by the end of the "inventory effect" in Q2 [1] - The demand for MEMS devices is anticipated to grow significantly in 2025, as markets recover to pre-COVID levels and driven by trends across various end markets [1][6] Consumer Electronics - Integration of new sensors in smartphones is expected to stagnate, while interest in MEMS devices in wearable technology, such as TWS earbuds, is on the rise [1] - The AR/VR headset market is projected to grow significantly by 2030, creating substantial demand for LBS, inertial sensors, and microphones [1] - Environmental sensors will see increased application in air purifiers, thermostats, and HVAC systems due to growing concerns about air quality [1] Automotive Sector - The automotive market remains stable, with a decline in MEMS pressure sensors used in BEVs, but growth in other automotive applications such as ADAS and safety features [2] - MEMS inertial sensors will find opportunities in battery impact detection and vehicle parking status monitoring [2] Industrial Applications - The trend towards Industry 4.0 and warehouse automation is leading to a shift from traditional vehicles to AGVs and smart factory vehicles, increasing the demand for motion sensors, microphones, and ultrasonic sensors [2] - Machine health monitoring is a key application area for MEMS inertial sensors and microphones [2] Medical Market - The emergence of OTC hearing aids is expected to drive sales growth for MEMS microphones, micro speakers, and motion sensors [3] - The use of ultrasound in diagnostics is predicted to expand, with handheld ultrasound probes being utilized in telemedicine [3] Telecommunications - The continuous growth of global data traffic and significant investments in AI will drive the use of telecom equipment such as optical MEMS and MEMS-based oscillators [3] - MEMS technology offers advantages in cooling systems due to its smaller size compared to traditional technologies [3] Defense and Aerospace - The defense and aerospace markets are expected to grow in 2024, driven by the demand for precise positioning in drones and missiles, as well as stable antennas [3] Market Trends and Projections - The MEMS industry is projected to achieve a compound annual growth rate (CAGR) of 3.7% from 2024 to 2030, with sales expected to reach 35 billion units and revenue of $19.2 billion by 2030 [3] - Major players in the MEMS sensor market include Bosch, STMicroelectronics, and TDK, with Bosch expected to generate $2 billion in revenue in 2024, a 12% increase [6] - The overall wafer foundry business is expected to remain stable, with a 3.2% year-over-year revenue growth in 2024 [6] Technological Developments - The MEMS market is evolving with a focus on smart sensors that offer various functionalities, optimizing size, power consumption, and data privacy [10][11] - The adoption of piezoelectric MEMS in applications such as PMUT, inkjet print heads, and RF MEMS is on the rise [10] - The trend towards 12-inch MEMS manufacturing is gaining traction, facilitating better integration with ICs and improved performance [10] Ecosystem Development - 2024 is seen as a transitional year for the MEMS ecosystem, with ongoing participation in 300mm MEMS manufacturing and advancements in MEMS micro-speaker production [7]