Biwin Storage Technology (688525)2024-12-13 08:52Market Outlook - The enterprise storage market in China is expected to maintain a steady growth rate of 4.7% from 2024 to 2028 [3] - The company aims to enhance its market share and core competitiveness in the enterprise storage sector, particularly with its award-winning PCIe 5.0 SSD [3] Financial Performance - In the first three quarters of 2024, the company achieved a net cash flow from operating activities of 495 million, representing a significant year-on-year increase of 127.09% [3] - Research and development (R&D) investment reached 339 million in the first three quarters of 2024, marking a year-on-year growth of 123.63% [5] R&D and Innovation - As of June 30, 2024, the company employed 750 R&D personnel, an increase of 58.56% year-on-year, accounting for 37.73% of the total workforce [5] - The company has developed its first domestically produced eMMC controller, SP1800, which has completed batch verification and offers superior performance [5] Product Development - The company has launched various embedded storage products for AI applications, including UFS 3.1 and LPDDR5/5X, to meet the increasing storage demands of AI-driven devices [5] - The SP1800 eMMC product supports eMMC 5.1 protocol and features advanced error correction capabilities, setting a new standard in eMMC storage [5] Competitive Advantages - The company has established a strong presence in the PC pre-installation market, supplying high-performance SSDs and memory modules to major brands like Lenovo and Acer [7] - The company has integrated advanced testing capabilities for high-quality DDR/LPDDR products, ensuring compliance with international performance standards [5] Inventory Strategy - Since 2024, the company has adopted a neutral inventory strategy, focusing on sales-driven procurement [7] Advanced Packaging and Testing - The company has been a pioneer in developing integrated packaging and testing capabilities since 2010, achieving leading technology levels in the industry [7]