Puya semiconductor(SH:688766)2024-05-21 07:36Group 1: Company Overview and Performance - The company, Puran Semiconductor (Shanghai) Co., Ltd., held an investor relations activity on May 19, 2024, to discuss its performance for the year 2023 and the first quarter of 2024 [2][3]. - The company reported that its 1Gbit NOR Flash products have already been mass-produced and are being introduced to clients, primarily in industrial control and automotive sectors [3][4]. Group 2: Product Strategy and Market Position - The company plans to consolidate its position in the NOR Flash small and medium capacity market over the next 2-3 years while expanding its customer base for large capacity products [3][4]. - The MCU product line, particularly M0+ and M4 core products, will enhance market penetration and contribute to revenue growth [4][6]. Group 3: Competitive Landscape - Taiwanese manufacturers like Winbond and Macronix have advantages in experience and process technology, while domestic manufacturers excel in innovation and cost control [4][5]. - The company aims to leverage its strengths in process innovation and regional competition to capture more market share in niche segments [4][5]. Group 4: Future Plans and Shareholder Returns - The company is considering increasing the frequency of dividends and will implement a capital reserve conversion plan for 2023, focusing on balancing performance growth and shareholder returns [4][5]. - The board has been authorized to issue shares to specific investors, with plans to assess the feasibility of multiple dividends in the future [5][6]. Group 5: Market Demand and Pricing - The price of MCU products is expected to stabilize after several quarters of adjustments, with significant reductions in channel and terminal inventory levels observed [6][7]. - The value of NOR Flash used in electric vehicles varies significantly based on application scenarios, ranging from a few cents to several dollars per unit [5][6].