ANYKA MICROELECTRONICS(688620)2024-02-27 10:30Group 1: Company Overview and Business Performance - The company, Ankai Microelectronics Co., Ltd., reported a strong market position in the IoT camera chip sector, driven by the launch of the self-developed NPU AK39Av100 chip, which has seen increasing demand in niche markets [2][3]. - In 2023, the overall revenue structure changed, with significant contributions from IoT camera chips, which are expected to remain a major revenue source [2][3]. - The company anticipates releasing its annual performance report soon, highlighting the importance of monitoring upcoming financial disclosures for specific revenue metrics [2]. Group 2: Market Demand and Growth Projections - According to iResearch, global shipments of home cameras reached 88.89 million units in 2020, approximately 2.2 times that of the Chinese market, with a projected CAGR of 19.3% over the next five years, expecting shipments to exceed 200 million units by 2025 [3]. - The demand for IoT camera chips remains robust, with significant market influence from domestic operators and brands like TP-LINK and Tuya, which have adopted Ankai's chips in their products [3]. Group 3: Product Development and Future Plans - The company plans to enhance its product line by upgrading IoT camera chips towards higher resolution and intelligence, while also focusing on industrial-grade IoT application processors [3][4]. - Ankai Micro is exploring new market segments, such as smart locks, and aims to increase its customer base and market penetration through continuous product innovation [4]. Group 4: Inventory and Market Conditions - The company's inventory levels are reported to be stable, with further details expected in future periodic reports [3]. - As of early 2024, the market conditions are normal, with no significant anomalies compared to the previous year, although seasonal trends are noted [3]. Group 5: Research and Development - As of June 30, 2023, approximately 64% of the company's workforce is dedicated to R&D, indicating a strong focus on innovation [4][5]. - The company collaborates with SMIC and TSMC for chip manufacturing, utilizing 40nm and 22nm processes, respectively, and is actively seeking competitive pricing from suppliers [5][6]. Group 6: Employee Incentives and Corporate Governance - Ankai Micro has established two employee stock ownership platforms but has not yet implemented any stock incentive plans since its listing in June 2023 [7]. - The company is considering future incentive schemes based on its personnel situation and characteristics of the Sci-Tech Innovation Board [7].