Ingenic(300223)2024-11-13 09:51Revenue and Market Distribution - The company's overseas revenue accounts for approximately 80% of total revenue [1] - In the storage market, the automotive sector accounts for over 40% of revenue, while industrial and medical sectors account for less than 30% this year (down from over 30% last year) [2] - The remaining 20%+ of storage revenue comes from communications and consumer sectors [2] Product Segments and Performance Computing Chips - Over 80% of computing chips are used in security surveillance products, mainly civilian cameras [1] - The computing chip market is highly competitive, with domestic competitors being the main rivals [1] - Q3 gross margin for computing chips was around 35% [2] Storage Products - Storage products are mainly sold through distributors, with some direct sales to Tier1/2/3 manufacturers [1] - DDR3 capacities range from 1G to 16G [2] - Q3 gross margin for storage chips was close to 34% [2] - The industry storage market peaked in 2022, with prices gradually declining since late 2022, though the decrease has been relatively small [2] Analog and Interconnect Chips - Analog chips primarily consist of various LED driver chips, with over 50% sales in the automotive market [2] - Main competitors include TI, Infineon, and Melexis [2] - Q3 gross margin remained above 50% [2] Technology Development - The company is developing 21nm and 20nm DRAM processes, with 21nm expected by year-end 2024 and 20nm expected around mid-2025 [2] - The company continues to invest in updating process technologies for future product development [2]