LME(SH:688589)2024-12-06 10:34Company Overview - The company specializes in chip design for IoT communication and SoC chips, focusing on power line communication (PLC) and multi-mode communication technologies [4] - As of January to September 2024, the company reported revenue of CNY 37.80 million, a decrease of 15.68% year-on-year, primarily due to the impact of bidding and supply rhythm from the State Grid [4] - The net profit attributable to shareholders was CNY 5.03 million, down 38.12% year-on-year, attributed to revenue decline, reduced government subsidies, and increased interest expenses and impairment losses [4] - As of September 30, 2024, the company had a backlog of orders amounting to CNY 20.34 million, reflecting a 10.11% increase compared to the same period last year [4] Market Position and Strategy - The company is a key supplier in the smart grid sector, focusing on high-speed dual-mode modules for power information collection, actively participating in tenders from State Grid and Southern Grid [6][7] - The smart grid market is viewed as having significant growth potential, with the company aiming to enhance its market share through advanced chip development and reliable product offerings [7][8] - The company plans to expand its product range in the low-voltage distribution market, developing new applications for smart devices such as smart circuit breakers and energy managers [6][8] Solar Energy Market Potential - The company sees vast market opportunities in the photovoltaic sector, particularly with the increasing adoption of distributed photovoltaic safety standards in regions like North America and Southeast Asia [9][10] - By 2026, China's distributed photovoltaic capacity is expected to reach 100 GW, indicating substantial growth potential for smart photovoltaic chips [9][11] - The domestic market for photovoltaic power electronics is still in its early stages, suggesting significant future growth opportunities [11] High-Speed Rail Sector - The company's product supply rhythm in the high-speed rail market aligns with the construction cycles of new rail lines, with revenue recognition contingent upon project completion and client acceptance [12] Convertible Bond Pricing - The company decided not to adjust the conversion price of its convertible bonds from September 19, 2024, to December 18, 2024, with future adjustments subject to board review [13]