Core Insights - Ximi Technology has emerged as a leading player in the magnetic sensor industry, focusing on a market previously dominated by foreign giants [2][5] - The company was founded by Mao Sineng, who returned to China to develop TMR magnetic sensor technology, and has since become the top Chinese company in this sector [5][6] - The global magnetic sensor market is projected to grow from approximately $3.1 billion in 2023 to about $4.7 billion by 2028, with a compound annual growth rate (CAGR) of around 8.6% [6][9] Company Overview - Ximi Technology ranks sixth globally among magnetic sensor IDM companies and first among Chinese firms, with a revenue of 6.66 billion RMB in 2022, which decreased to 5.94 billion RMB in 2023 but is expected to rebound to 7.03 billion RMB in 2024 [7] - The company's core business is current sensors, which are projected to generate 5.82 billion RMB in revenue in 2024, accounting for 82.7% of total revenue [7] - Ximi's products are widely used in electric vehicles, photovoltaic systems, and industrial automation, positioning the company to benefit from emerging market opportunities [5][8] Industry Trends - The magnetic sensor market is experiencing rapid growth due to the increasing demand for high-precision sensors in electric vehicles, industrial automation, and robotics [6][8] - The number of magnetic sensors used in electric vehicles is expected to rise significantly, from 30-50 in traditional vehicles to 80-100 in hybrid and electric vehicles [8] - The global magnetic sensor market is expected to grow at a CAGR of 4%, while the Chinese market is projected to grow from 7.1 billion RMB in 2024 to 19 billion RMB by 2029, with a CAGR of 23.5% [9]