On July 27th, China Micro Semiconductor (688380.SH) opened the subscription, the issue price was 30.86 yuan per share, the subscription limit was 10,500 shares, and the price-earnings ratio was 22.95 times. It belongs to the Science and Technology Innovation Board.CITIC Securitiesas its sole sponsor.
The company is an integrated circuit (IC) design enterprise, focusing on the R&D, design and sales of digital-analog mixed-signal chips and analog chips. The underlying algorithm provides a one-stop overall solution. The company’s main products include home appliance control chips, consumer electronics chips, motor and battery chips, and sensor signal processing chips.
Since its establishment in 2001, the company has carried out technical layout around the chips and underlying algorithms required for intelligent controllers, continuously expanded its independent design capabilities, and accumulated more than 1,000 independent IPs. At present, the company has completed a chip development platform with MCU as the core, realized the structure and modular development of the chip, and has the design capabilities of 8-bit and 32-bit MCU, high-precision analog, power driver, power device, wireless radio frequency and underlying core algorithm. , which can respond quickly to different segments. The company insists on defining products based on terminal needs, making overall design for the top-level architecture, resource allocation, peripheral component integration and underlying core algorithm support of the chip, and launching products suitable for the market. Nano BCD, bipolar, SGTMOS and IGBT processes have been put into production, with more than 900 types of chips available for sale, and the cumulative shipment in the past three years has exceeded 2.2 billion.
According to IHS statistics, the CAGR of China’s MCU market in the past five years is 7.2%, which is four times the growth rate of the global MCU market in the same period. In 2019, the scale of China’s MCU market reached 25.6 billion yuan. As the growth rate of the Internet of Things, automotive electronics and other industries leads the world, despite the impact of the new crown epidemic in 2020, the scale of China’s MCU market will still exceed 26.8 billion yuan. According to IHS data, China’s MCU market will reach 32 billion yuan in 2022.
According to the prospectus of China Micro Semiconductor, as of December 31 in 2019, 2020, and 2021, the company’s operating income was about 245 million yuan, 378 million yuan, and 1.109 billion yuan, respectively. The company’s net profit was about 24.9749 million yuan, 93.69 million yuan and 785 million yuan respectively. The continuous growth of the company’s revenue and net profit during the reporting period was mainly due to the increase in demand in the downstream industry, the continuous improvement of the company’s product layout and the gradual acceptance of new products by customers.
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