深圳市英唐智能控制股份有限公司 证券代码：300131 证券简称：英唐智控 投资者关系活动记录表 李昊答：此次并购是公司自2019年以来向上游半导体设计与制造转型战 略的延续，旨在现有光电传感业务的基础之上，切入高速增长的光通信核心 器件领域并形成协同。 光隆集成为无源光器件供应商，产品线覆盖全类型光开关（机械式、MEMS、 磁光、在研电光开关）。基于深厚积累，已延伸至基于 MEMS 路线的 OCS 光路 交换机产品，具备从器件到系统的能力。目前光隆集成小通道的 OCS 产品已 经进入市场，128/256 等大通道产品有望在 2026 年逐步推向市场。 核心的协同点具体在于：英唐智控在海外的 IDM 工厂拥有近 20 年的 MEMS 振镜研发经验并实现量产，有望为标的公司光隆集成的 OCS 产品核心部件 MEMS 阵列芯片提供产能保障与工艺支持，解决光隆集成目前依赖外购或代工 导致的响应缓慢的问题，形成供应链优势。同时公司位于海外的 fab 工厂可 作为海外运营与供应链中转平台，有助于协同光隆集成拓展海外云厂商等客 户，规避潜在供应链风险。 根据双方协议约定，光隆集成业绩承诺2026年度实现净利润不低于3,7 ...

Group 1 - The company, Yintan Zhikong (300131), primarily engages in chip design and manufacturing, as well as electronic component distribution [1] - Key products include MEMS micro-mirrors and automotive display chips (DDIC/TDDI), which are involved in research and production [1] - The company also provides technical support services in the electronic component distribution industry [1]

Core Viewpoint - The article discusses the strategic transformation of Yintan Zhikong from a traditional distributor to a semiconductor IDM enterprise, highlighting its recent acquisitions and developments in the MEMS and OCS sectors as pivotal steps in this transition [1][31]. Group 1: Google TPU and Market Impact - Google's TPU is emerging as a significant competitor to NVIDIA in the AI computing space, with OpenAI leveraging TPU to negotiate a 30% reduction in NVIDIA's total cost of ownership [3]. - The success of Google's TPU has brought attention to MEMS-OCS (Optical Circuit Switch) technology, which is essential for efficient AI infrastructure [4][5]. Group 2: Yintan Zhikong's MEMS Development - Yintan Zhikong is one of the two companies in China capable of mass-producing MEMS micro-mirrors, which are critical for applications in automotive LiDAR, AR-HUD, and optical communication [9][14]. - The company has made significant progress in developing MEMS micro-mirrors, with plans to focus on automotive LiDAR and laser projection applications, having secured contracts with leading clients [10][13]. Group 3: Acquisitions and Strategic Goals - Yintan Zhikong plans to acquire Guanglong Integrated Technology and Aojian Microelectronics to enhance its capabilities in MEMS-OCS and analog chip sectors, aiming to create a complete vertical supply chain [17][26]. - Guanglong Integrated Technology specializes in optical switches and has made advancements in OCS technology, while Aojian Microelectronics focuses on high-performance analog chips, which are in high demand for domestic market replacement [21][26]. Group 4: Financial Performance and Future Outlook - Yintan Zhikong reported a total revenue of 5.346 billion in 2024, with a net profit of 60 million, indicating a need for improved profitability as most revenue comes from low-margin electronic component distribution [30]. - The company’s strategic acquisitions are viewed as essential for its transition to a semiconductor IDM, although challenges in integration and execution remain [30][31].

Core Viewpoint - The company, Ying Tang Zhi Kong, has demonstrated its technological strength and market competitiveness in the MEMS field, particularly with its MEMS micro-mirror technology that utilizes electromagnetic drive technology for dual-dimensional scanning of laser beams [1] Group 1: Technology and Innovation - The MEMS micro-mirror technology significantly reduces size, power consumption, and cost [1] - The company possesses comprehensive development capabilities for MEMS device-level and LBS (laser beam scanning-based projection solutions) systems [1] - The company has achieved mass production with its automated production line for MEMS devices [1]

Core Viewpoint - The company, Yintan Zhikong, is actively engaged in chip design and manufacturing, as well as electronic component distribution, focusing on core products such as MEMS micro-mirrors and automotive display chips (DDIC/TDDI) [2] Group 1 - The company's main business includes chip design and manufacturing [2] - The company also provides technical support services in the electronic component distribution industry [2] - Core products under development include MEMS micro-mirrors and automotive display chips [2]

Core Viewpoint - The company, Ying Tang Zhi Kong (300131.SZ), has demonstrated its expertise in the MEMS (Micro-Electro-Mechanical Systems) field by utilizing electromagnetic drive technology for its MEMS micro-mirrors, which significantly reduces size, power consumption, and costs [1] Group 1: Technology and Innovation - The MEMS micro-mirrors developed by the company enable both horizontal and vertical scanning of laser beams [1] - The company possesses comprehensive development capabilities for MEMS device-level products and LBS (Laser Beam Scanning-based projection solutions) systems [1] Group 2: Production and Market Position - The company has established its own automated production line for MEMS devices, which has already achieved mass production [1] - The company holds a strong technical strength and market competitiveness in the MEMS sector [1]

Core Viewpoint - The company, Ying Tang Zhi Kong (300131.SZ), has demonstrated its expertise in the MEMS (Micro-Electro-Mechanical Systems) field by utilizing electromagnetic drive technology for its MEMS micro-mirrors, which significantly reduces size, power consumption, and costs [1] Group 1: Technology and Product Development - The MEMS micro-mirrors developed by the company enable both horizontal and vertical scanning of laser beams [1] - The company possesses comprehensive development capabilities for MEMS device-level products and LBS (Laser Beam Scanning-based projection solutions) systems [1] - The company has established its own automated production line for MEMS devices, which has already achieved mass production [1]

Core Viewpoint - The company, Yintan Zhikong (300131.SZ), confirmed that the deflection speed of its OCS MEMS micro-mirror is at the microsecond level, which is a critical feature for achieving millisecond-level overall optical path switching in OCS systems [1] Group 1 - The deflection speed of the MEMS micro-mirror is at the microsecond level [1] - This fast mechanical response supports OCS in achieving millisecond-level optical path switching [1] - Faster deflection speeds lead to higher switching frequencies for OCS [1]

Core Viewpoint - The company is focusing on the mass production of MEMS micro-mirrors, with significant orders already secured in the industrial sector, particularly in automotive LiDAR and laser projection applications [1] Group 1: Product Development - The company’s MEMS micro-mirror products come in various diameters, including 4mm, 1mm, 1.6mm, and 8mm, with the 4mm version already receiving bulk orders in the industrial field [1] - The company is prioritizing clients in the automotive LiDAR and laser projection sectors, currently engaging in custom R&D for leading clients [1] Group 2: Client Engagement and Future Projections - The company has secured NRE contracts with top clients in smart transportation LiDAR, mobile, and automotive applications [1] - Some automotive clients expect the MEMS LBS system to be implemented in vehicles by the end of 2026, and the company aims to meet these client demands while advancing the LBS project [1] - If progress continues smoothly, the related business performance is expected to gradually improve [1]

Group 1: Company Overview and Business Strategy - The company focuses on electronic component distribution and has built a global multi-regional network covering various categories including main chips, storage, RF, display drivers, power/analog devices, MEMS sensors, and passive components [2][3] - The company is increasing its investment in chip design and manufacturing, aiming to enhance its capabilities and performance in the semiconductor field [3][4] - Recent acquisitions of Guilin Guanglong Integrated and Shanghai Aojian Microelectronics are intended to strengthen the company's layout in optical communication chips and analog integrated circuits [2][4] Group 2: Research and Development - R&D expenses increased by 90.06% year-on-year, driven by investments in self-developed chips and the recruitment of top technical talent [5][6] - The company has successfully introduced its automotive display chip business to several leading screen manufacturers, with the first automotive-grade TDDI/DDIC entering mass production [5][6] - The MEMS micro-mirror product has entered the market, with a focus on automotive LiDAR and laser projection applications [5][9] Group 3: Market Potential and Product Development - The MEMS LBS (Laser Beam Steering) technology is not yet essential for basic vehicle operation but shows potential for enhancing user experience in high-end models [10] - The global annual production of new cars is approximately 90 million, indicating a broad market potential for MEMS LBS products [10] - The number of MEMS micro-mirrors is critical for determining the number of OCS (Optical Circuit Switching) channels, with higher channel counts requiring more mirrors [11] Group 4: Risks and Regulatory Considerations - The acquisition process involves regulatory approvals from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, which may impact the transaction timeline [18] - There are risks associated with the transaction being suspended, interrupted, or canceled, necessitating careful investor decision-making [18]