1. This stock was bought in May last year, and it was recommended in WeChat official account. As a result, the stock price was around 16 yuan, and I felt that the valuation was too high, so I lightened my position. As a result, it rose to 428 yuan last year and now it is 277 yuan. Slightly sorry, haha. However, if I had to choose again, I would still do it. Because of the lack of understanding of DRAM, I can't be greedy.
2. The performance in 219 can be described as brilliant: the operating income was 3.23 billion yuan, up 42.62% year-on-year; The net profit attributable to shareholders of listed companies was 67 million yuan, a year-on-year increase of 49.85%; The net operating cash flow was 967 million, a year-on-year increase of 56.11%. Among them, the revenue growth mainly comes from the growth of memory chips (+717 million). In addition, Siliwei, who consolidated the statements, also contributed 23 million yuan in revenue. In Q1 quarter of 22, the revenue was 85 million yuan, up 76.51% year-on-year; The net profit of returning to the mother was 168 million yuan, a year-on-year increase of 323.24%. Operating cash flow-78 million.
3. Zhaoyi Innovation's revenue in 215 was 1.189 billion, and by 219, its compound annual revenue increased by 28.11%. Last year was the fastest year in recent years. In 215, the profit was 158 million, and by 219, the compound profit increased by 4%. Completely worthy of the word "high growth".
4. The storage industry has an upward trend in 219, but the epidemic has greatly hit the demand of downstream products. It is estimated that the original upward trend will be postponed to 221, so don't expect any performance growth this year. Benefiting from the demand for TWS headphones, the company's NOR Flash shipments jumped to the third place in the world, which is an important point of view. Last year, I underestimated the power of TWS, but unfortunately. Later, I also look forward to the outbreak of other innovative consumer electronics. The recession in the automobile industry has made the demand for MCU products weak.
5. The most important thing of Zhaoyi is to look at DRAM. If its DRAM didn't make a name for itself, the market value of 9 billion now is very expensive. If DRAM can occupy a place in the world, the valuation ceiling will be extremely high. Now I don't have Zhaoyi, because I'm still studying DRAM. In addition, I collected some articles on DRAM, and WeChat official account replied "Zhaoyi". * * * Learn together! Ask people in the industry to communicate!
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(The data will be updated to the first quarter of 22 and will be tracked continuously)
The cumulative shipment of Norflash has exceeded 1 billion pieces. In 219, the company launched a new generation of high-speed 4-channel product series (GD25LT), which is the first high-speed 4-channel NOR Flash solution in the industry with a transmission rate of 2MB/s; And the 8-channel SPI NOR Flash product series (GD25LX) compatible with xSPI specifications, with a transmission rate of 4MB/s, is one of the highest performance NOR Flash solutions in the industry.
at present, the NOR Flash product technology of the company is at the mainstream technical level in the industry, and the process node is mainly 65nm, and there are a few 55nm process node products. In 22, the company will focus on promoting 55nm advanced process node series products on the existing basis. Generally speaking, its products are mainly low-end products.
special instructions. TWS headphones have greatly boosted demand!
according to the industrial research of CINNO Research, the global market share of NOR Flash reached a breakthrough in the second quarter, rising to the fourth place in the world, and jumped to the third place in the third quarter. The development speed is relatively fast.
the cumulative number of shipments has exceeded 2 million, and the number of customers has exceeded 2,. At present, it has more than 32 product models, 22 product families and 11 different packaging types. At present, we will further expand the MCU product portfolio and develop new products for high performance, low cost and Internet of Things applications. The introduction of M4 and M23 series products with lower power consumption and cost continues to maintain the leading position in the M3 and M4 products market. The world's first 32-bit universal MCU product based on RISC-V kernel was launched in August 219. As the mainstream product in the field of 32-bit universal MCU in China, GD32 is selected from more than 32 products in 24 series, and its coverage rate is in the forefront of the market. The products are widely used in industrial and consumer embedded markets, and are suitable for industrial automation, man-machine interface, motor control, photovoltaic inverter, security monitoring, smart home appliances and Internet of Things.
according to the IHS Markit report, in the China Arm Cortex-M MCU market, the company ranked third in sales in 218, with a market share of 9.4%.
the company entered the sensor market through the acquisition of Shanghai Sili Microelectronics Technology Co., Ltd. In 219, the company provided embedded biometric sensor chips, capacitive, ultrasonic and optical mode fingerprint identification chips, and self-contained and mutual-contained touch screen control chips. The main products of the sensor include capacitive touch chip and fingerprint identification chip, which are widely used in the sensor module of a new generation of intelligent mobile terminals, and are also suitable for industrial automation, vehicle-mounted human-computer interface, Internet of Things and other fields that need intelligent human-computer interaction solutions.
in terms of optical fingerprint sensor, we actively optimized lens-type optical fingerprint products, and launched LCD screen optical fingerprint products, ultra-small package lens-type optical fingerprint products, ultra-thin optical fingerprint products and large-area TFT optical fingerprint products, becoming the only company in the industry with all categories of fingerprints. Progress has also been made in the research and development of MEMS ultrasonic fingerprint sensor. According to CCID data, in the company's sensor business (Siliwei) in 218, the global market share of touch chips was 11.4%, ranking fourth; The global market share of fingerprint chips is 9.4%, ranking third.
At present, the technology of DRAM industry in Chinese mainland is still in the development stage. Samsung Electronics, SK Hynix and Micron Technology in the United States account for more than 95% of the global market share.
on April 26th, 219, the company signed the Convertible Creditor's Rights Investment Agreement with Hefei Investment and Hefei Changxin Integrated Circuit Co., Ltd., and agreed to invest 3 million yuan in the project in the form of convertible credits, and continued to study and discuss the follow-up cooperation plan. In terms of business, the company will play a complementary role with Hefei Changxin, and explore various cooperation modes in DRAM product sales, OEM and engineering.
The underlying technology of Changxin comes from Mengda, which has been in operation since it was spun off from its parent company Infineon in 3mm. The sales volume of DRAM products is the second largest in the world and one of the largest suppliers of PC and server DRAM products. Dramatically, it filed for bankruptcy three years later. Through the cooperation with Qi Mengda, Changxin * * pocketed more than 1 million DRAM-related technical documents (about 2.8TB in size). Up to now, * * * has 16, patent applications. It is reported that Changxin subsequently revised some technical details to avoid the export sanctions of the US entity list.
in September 219, Changxin Storage unveiled its 8Gb DDR4 chip product with 19nm technology, achieving a breakthrough in DRAM technology in China. At the same time, it is also a technology that is synchronized with mainstream products in the world. At present, Changxin official website has started to supply DDR4 chips, LPDDR4X chips and DDR4 modules. It is expected to expand to 4, wafers/month by the end of this year, and the production capacity can account for about 3% of the global memory production capacity.
in p>22, we will continue to promote the company's non-public offering of shares, and plan to raise no more than about 4.3 billion yuan to design and develop DDR3, LPDDR3, DDR4 and LPDDR4 series DRAM chips. It is estimated that mass production will be achieved in 221. By the way, the chairman and CEO of Changxin Storage is Zhu Yiming, the controller of Zhaoyi. If Changxin is successful, Zhaoyi can acquire it.
in p>219, the company's R&D investment reached 378 million yuan, accounting for 11.8% of the operating income, an increase of 64.33% compared with the same period in 218. The company has accumulated a large number of intellectual property patents while launching a full range of products with technical and cost advantages. By the end of 219, the company had accumulated 1,195 effective patent applications at home and abroad in key chip technology fields such as NOR Flash, NAND Flash, MCU and fingerprint identification, among which 21 new patent applications were submitted in 219 and 156 new patents were granted.
according to China customs statistics, the import value of integrated circuits in China in 219 was USD 35.55 billion, down 2.1% year-on-year; The number of imported integrated circuits was 445.13 billion, up 6.6% year-on-year. In 219, the export value of integrated circuits in China was US$ 11.58 billion, a year-on-year increase of 2.1%; The number of integrated circuits exported was 218.7 billion, up .7% year-on-year. At present, integrated circuits have become China's largest import commodity. Under the current trade friction between China and the United States, domestic substitution of integrated circuits industry is promising.
in March p>218, in the government work report of the first session of the 13th National People's Congress, integrated circuits were listed as the top five industries to be promoted to accelerate the construction of a manufacturing power. According to the planning goal of Made in China 225, by 22, the gap between the integrated circuit industry and the international advanced level will gradually narrow, and the self-sufficiency rate of the semiconductor industry will reach 4%. Since 216, a large number of policies have been introduced in China, including the central and local governments to promote the development of the third-generation semiconductor industry. In addition to the national integrated circuit industry investment fund, more than a dozen provinces and cities have also set up local industry funds.
1. NAND Flash memory: Enterprise SSD and smart phone have become the two main demands, and the demand is weak, and the market is not optimistic in 22.
2. NOR Flash flash: Internet of Things, 5G base stations, automotive intelligence, TWS headsets, etc. are all sources of demand, and the demand is quite strong; According to Morgan Stanley's research report, it is estimated that NOR Flash's global revenue will increase by 3% in 22 compared with 219.
3. MCU products: Automotive applications are still the largest end-user market of MCU products. Due to the decline of the automotive market, the MCU market is rather bleak. In 219, the revenue of MCU decreased by 5.8% to 16.5 billion US dollars compared with 218, and the global unit shipments of MCU decreased from 28.1 billion in 218 to 26.9 billion. In 22, we will still look at the automobile market.
4. Fingerprint sensor chips: In 219, the shipment of fingerprint sensors will reach 99 million pieces, up about 12.5% year-on-year. Although the mobile phone market is weak, the application of fingerprint sensors is really on the rise, and the future demand is also growing. It is estimated that by 224, the overall off-screen fingerprint mobile phone shipments will reach 1.18 billion units, with a compound annual growth rate of CAGR of 42.5%.
5. DRAM chip: The growth of DRAM market demand mainly depends on the two major markets of mobile phone and Server. Due to the weak demand of terminal products such as PC, server and smart phone, according to SIA (Semiconductor Industry Association of America) statistics, compared with 218, the sales volume of DRAM products in 219 decreased by 37.1%. In 22, this part of the demand is not optimistic.
Company is a leading flash memory chip design enterprise in Chinese mainland. According to the statistics of TrendForce, in terms of operating income, the company maintained the top ten revenue of IC design industry in China in 218.
according to the research report of CINNO Research on the storage industry in the third quarter of 219, the company's Nor Flash market share increased to 18.3%, surpassing Cypress and ranking third in the world. The top two were Winbond Electronics and Wanghong Electronics respectively.
according to the IHS Markit report, in the Arm Cortex-M MCU market in China, the company ranked third in sales in 218, with a market share of 9.4%. The top two were STMicroelectronics and NXP respectively.
According to CCID data, in the sensor business of the company (Siliwei) in 218, the global market share of touch chips was 11.4%, ranking fourth; The global market share of fingerprint chips is 9.4%, ranking third, and the top two are Huiding Technology and FPC respectively.
1. The company's NOR Flash technology is relatively low-end, which is ignored and ignored by big manufacturers. It is the main business of Zhaoyi at present, and it should be DRAM； in the future;
2. The company is expanding rapidly, both horizontally (acquisition of Siliwei) and vertically (DRAM R&D). DRAM may be able to kill a way out, and individuals need to know more about it, and people in the industry are welcome to communicate;