Xingchen Technology Co., Ltd. (Stock Code:301536.SZ) on2023year3month28Relying on the support of Frost & Sullivan, the company successfully made its debut on the ChiNext board. Xingchen Technology is a globally leading video surveillance chip enterprise, focusing on the research, development, and sales of video surveillance chips. Its products are mainly used in fields such as intelligent security, video intercoms, and intelligent vehicles. Frost & SullivanFrost & SullivanFrost & Sullivan, hereinafter referred to as 'Frost & Sullivan', hereby warmly congratulates the company on its successful listing.
Xingchen Technology Co., Ltd. (hereinafter referred to as 'Xingchen Technology') was established on2024year3month28The company was successfully listed on the stock market, with the number of shares issued being42,1110,000 shares, issue price per share16.16yuan.
Investment highlights
The company continues to research and innovate in the field of video surveillance, holding a leading edge in image signal processing, audio and video encoding and decoding, display processing, etc., and actively investsAIWaiting for chip research and development in new fields;
The company ownsISPtechnology,AIProcessor technology, multi-mode video coding technology, high-speed and high-precision analog circuit technology, advanced manufacturing processesSoC architectureMultiple core technologies such as chip design technology;
According to Frost & Sullivan data:
In the field of intelligent security, calculated by shipment volume2021The company has operations globallyIPC SoCMarket and GlobalNVR SoCThe market shares are as follows36.5%and38.7%, all ranking first in the market;
In the field of video conferencing, calculated by shipments.2021The company operates globally annuallyUSBThe market share of video conferencing camera chips is51.8%ranked first in the market;
In the field of intelligent in-vehicle systems, calculated by shipment volume:2021The company's market share in the Chinese dashcam chip market is24.0%Ranked second in the market, in China1080PAnd the market share of recorder chips above this level is50.0%ranked first in the market.
Frost & Sullivan has long been monitoring the global and Chinese semiconductor industries, publishing a large number of research reports, which are widely cited in the prospectuses of leading ChiNext-listed companies, helping clients accelerate their growth.
Global Integrated Circuit Industry Overview
In the global integrated circuit industry, affected by Moore's Law, process nodes are beginning to move towards5nmand3nmEvolution, coupled with the continuous rise in the costs of integrated circuit design and manufacturing, has led to an increasing proportion of design and manufacturing in the overall industrial structure.2018In [year], due to the rapid increase in shipments of electronic products such as smartphones, demand for integrated circuit products surged.2019Year, global5GThe industrial layout has been slow, and the decline in memory prices has led to significant fluctuations in the scale of the integrated circuit industry.2021The shortage of annual production capacity has led to an increase in unit prices in the integrated circuit industry, with a market scale growth rate of28.2%Among them2017~2021The compound annual growth rate during this period reached7.8%,2021~2026EExpected industry growth rate8.6%.
It is expected that in the coming years, along with5GWith the promotion of new technologies represented by connected vehicles and cloud computing, products will require more integrated circuit products such as chips and memory. This will drive further development of the integrated circuit industry.
Global Integrated Circuit Market Size and Forecast
2017Year-end2026Year (estimated)
Source: Global Semiconductor Trade Statistics Organization, Frost & Sullivan report
Overview of China's Integrated Circuit Industry
With the rapid development of the Chinese economy, China has become the world's largest integrated circuit consumer market and one of the most dynamic and promising markets globally. In recent years, driven by continuous growth in market demand in consumer electronics, mobile internet, automotive electronics, industrial control, medical electronics, and other sectors, as well as the continuous introduction of national support policies, the integrated circuit industry in China has developed rapidly. According to data from the Semiconductor Industry Association of China and Frost & Sullivan.2021The sales volume of China's integrated circuit industry in10,458.3yuan,2017 - 2021The annual compound growth rate reached17.9%expected2021-2026In China, the integrated circuit industry will be15.5%The compound growth rate increased to2026The annual market scale will reach21,542.0100 million yuan.
Market Scale and Forecast of Integrated Circuits in China
2017Year-end2026Year (estimated)
Source: China Semiconductor Industry Association and Frost & Sullivan report
Overview of China's Artificial Intelligence Chip Industry
Artificial intelligence has always been one of the core technologies that are vigorously developed within the industry. More and more companies are applying artificial intelligence to their terminal products to improve product performance or expand application areas. This trend has driven rapid growth in the artificial intelligence chip industry. At the same time, major factors driving the development of artificial intelligence such as deep learning, big data, and Moore's Law iterative computing power have risen rapidly in recent years, and artificial intelligence chips will enter a period of long-term high demand. After China caught up in mobile internet, it is becoming an important data powerhouse, which is conducive to promoting the development of artificial intelligence technology. In addition, the Chinese government is promoting 'Made in China' through2025Policies such as 'Digital China' are driving the informatization and intelligent upgrading transformation of China's industries, which will provide more practical application scenarios for the development of artificial intelligence chips. According to Frost & Sullivan data,2021The market scale of artificial intelligence chips in China in251Yuan. Estimated2021-2026In [a certain year], the market scale of artificial intelligence chips in China will be42.4%Compound growth rate2026Annual achievement1,470100 million yuan.
Market Scale and Forecast of Artificial Intelligence Chips in China
2017Year-end2026Year (estimated)
Source: Frost & Sullivan report
Global Video Surveillance Chip Industry Overview
Intelligent security field
IPC SoCIt is an important component of security surveillance front-end devices. Since the video surveillance system entered the networked stage,IPChas become the mainstream front-end device,IPC SoCIt has also become the mainstream front-end device video surveillance chip. In the new round of intelligent upgrade,IPC SoCandAIModules complement each other, jointly realizing complex functions such as image recognition and structured analysis, bringing about a transformation in the video surveillance industry.2020In [year], affected by international trade frictions and macroeconomic environment,IPC SoCSales have declined.2021GlobalIPC SoCThe market improved month-on-month, with a market scale of6.3billion dollars2017 - 2021Annual compound growth rate10.3%.IPC SoCThe market is expected to maintain high growth in the future as technology continues to mature and application scenarios continue to penetrate, accompanied by market consolidation.2021-2026Year, globalIPC SoCThe market scale will be11.5%The compound growth rate has increased,2026Annual achievement10.9billion dollars.
globalIPC SoCMarket size and forecast
2017Year-end2026Year (estimated)
Source: Frost & Sullivan report
NVR SoCIt is an important component of the security surveillance backend equipment. WithIP addressWith the rapid development of the internet, the video surveillance industry has gradually entered the online era on a global scale./In the era of high-definition,NVRwill be gradually realizedDVRas a substitute.2020year and2021In [year], affected by international trade frictions and macroeconomic environment,NVR SoCSales volume has declined to a certain extent.2021GlobalNVR SoCMarket scale has reached0.85billions. With the continuous growth of the global security monitoring market scale and the trend of industry intelligence upgrading, it is expected2021 - 2026Year, globalNVR SoCThe market scale will be7.7%The compound growth rate has increased,2026Annual achievement1.24billion dollars.
globalNVR SoCMarket size and forecast
2017Year to2026Year (estimated)
Source: Frost & Sullivan report
Intelligent intercom field
Affected by external environmental changes, online meetings have become one of the main trends globally, driving continuous growth in the global video conferencing market size. According to Frost & Sullivan data, the global video conferencing market size is in2021Annual achievement89billion US dollars, with the overall market size expected to be at2026Annual achievement192billion US dollars, with an annual compound growth rate of16.6%According to Frost & Sullivan data,2021GlobalUSBThe market scale of video conference camera chips is1.09billion US dollars2017 - 2021Annual compound growth rate52.8%Future projectionsUSBThe market scale of video conference camera chips is gradually saturating.2026The annual market scale is about1.20billion dollars.
globalUSBMarket scale and forecast of video conference camera chips
2017Year-end2026Year (estimated)
Source: Frost & Sullivan report
Intelligent in-vehicle domain
With the steady increase in global automobile production and the rise of the intelligent driving market, the demand for downstream in-vehicle cameras continues to rise. At the same time, there is a demand for in-vehicle camera chips with better capabilities, image processing capabilities, andAIThe application has put forward higher requirements, driving global in-vehicle camera chips towards higher definition, high-end, intelligent, and multi-channel evolution, with market scale continuing to grow. The global in-vehicle camera chip market size has been2017year7.4USD billion growth to2021year22.8billion US dollars, with a compound growth rate of32.6%. inADASDriven by rapid developments such as autonomous driving, the number of front-facing cameras equipped on individual vehicles will gradually increase, further expanding the global market for in-vehicle camera chips. It is expected that2021 - 2026In 2023, the global automotive camera chip market size will be31.0%The compound growth rate has increased,2026Annual achievement87.9billion dollars.
Global Market Size and Forecast of In-vehicle Camera Chips
2017Year-end2026Year (estimated)
Source: Frost & Sullivan report
The vehicle infotainment system market, including dashcams, is an important segment of in-vehicle imaging products and is gradually developing towards intelligence. In terms of vehicle infotainment system chips, according to Frost & Sullivan data,2021The market scale of China's vehicle recorder chips in7.1100 million yuan2017 - 2021Annual compound growth rate20.2%expected2021 - 2026In [year], the market scale of China's dashcam chips will be11.4%The compound growth rate has increased,2026Annual achievement12.2100 million yuan.
Market Scale and Forecast of China's Vehicle Recorder Chips
2017Year-end2026Year (estimated)
