According to the information compiled by the AspenCore analyst team from the database of Chinese IC design companies, there are currently 15 listed companies or companies that have passed the review and are about to be listed. The basic information and MCU business data statistics of these companies are as follows.
Note: 1. The 2021 revenue and gross profit only account for the MCU business of each company;2. If the 2021 financial report or prospectus does not clearly state the revenue and gross profit of the MCU business, estimates are made based on online information;3. MCU includes general MCU chips, wireless connection control chips, motor control chips, smart meter management chips, battery management chips, and embedded CPU cores, etc.As part of the “2022 Top 50 Domestic MCU Manufacturers Comprehensive Strength Ranking” survey and analysis report planned by the AspenCore analyst team, we first evaluate and compare 15 listed (or planned to be listed) companies.The operational statistics of the MCU business for the 15 listed companies in 2021 are as follows:1. The highest revenue is 2.456 billion yuan, the lowest revenue is 120 million yuan, and the median revenue is 313.6 million yuan;2. The highest gross profit is 1.630 billion yuan, the lowest gross profit is 41.25 million yuan, and the median gross profit is 170.45 million yuan;3. The average R&D expenditure accounts for 17.30% of revenue, with a maximum of 27.92% and a minimum of 7%;4. The average gross profit margin is 58.91%, with a maximum of 66.36% and a minimum of 29.5%.Comparison of MCU revenue and gross profit of 15 domestic IC design listed companies (2021, unit: ten thousand yuan)
Main application markets and representative manufacturers of domestic MCUs:1. Consumer Electronics: GigaDevice, Chipsea, Zhongwei Semiconductor2. Home Appliances: Zhongying Electronics, Zhongwei Semiconductor3. Industrial: GigaDevice, Silan Microelectronics, Guomian Technology, Guoxin Technology4. Automotive: BYD Semiconductor, Jihai Semiconductor, Guoxin Technology5. Internet of Things: Espressif Technology, Jihai Semiconductor6. Meters: Jiuquan Optoelectronics, Fudan Microelectronics, Shanghai Beiling, Neusoft Carrier7. Motor Control: Fengcai Technology, Guomian Technology, Zhongwei Semiconductor8. Battery Management: Zhongying Electronics9. Healthcare: Chipsea, Zhongwei Semiconductor10. Information Security: Guomian Technology, Jihai Semiconductor, Guoxin Technology
Summary of information on 15 domestic MCU manufacturers
Neusoft Carrier – Shanghai Neusoft Carrier MicroelectronicsCore Technologies: Control, Connectivity, Security, Perception, and other core IoT technologies;Key Products: MCU control chips, security chips, carrier chips, RF chips, touch chips, etc.;Main Applications: Smart grid, white goods, industrial control, instruments, motor control, power management, consumer electronics, etc.;Competitive Advantage: Layout of the industrial chain around integrated circuits, energy internet, and intelligent business, establishing a complete and systematic industrial layout from “chips, software, modules, terminals, systems” to information services.Chipsea TechnologyCore Technologies: High-precision ADC technology, high-reliability MCU technology, AI measurement algorithms;Key Products: Analog signal chain chips, MCU chips, health measurement AIoT chips;Main Applications: Industrial measurement and control, communication and computing, lithium battery management, consumer electronics, automotive electronics, smart home, smart instruments, smart health, etc.;Competitive Advantage: Forming a business layout centered on analog signal chains, MCUs, and health measurement AIoT chips.GigaDeviceCore Technologies: NOR Flash technology, DDR3/DDR4/LPDDR4 DRAM product technology, automotive-grade MCUs, OLED touch technology;Key Products: Memory product line (NOR Flash, SLC NAND Flash, and DRAM), MCU product line (general MCU, low-power MCU, wireless MCU, motor control MCU, RISC-V MCU), sensor product line (LCD touch, capacitive fingerprint, optical fingerprint);Main Applications: Industrial, automotive, consumer products;Competitive Advantage: Providing a complete set of systems and solutions including storage, control, sensing, edge computing, and connectivity chips, as well as corresponding algorithms and software; multi-track and multi-product line combinations can achieve continuous growth beyond cyclical fluctuations.Guomian TechnologyCore Technologies: Information security, SoC, wireless communication connectivity;Key Products: General MCU product line, security chip product line;Main Applications: IoT, industrial networking and control, smart appliances and smart home IoT terminals, consumer electronics, motor drives, servos, battery and energy management; network identity authentication, electronic banking, trusted computing, electronic certificates, mobile payments, and server cloud security, IoT security, etc.Competitive Advantage: Implementing a “general + security” product strategy, focusing resources on high-end high-performance MCUs, high-reliability automotive-grade MCUs, high-reliability BMS, security micro-certification chips, and trusted computing chips.Guoxin TechnologyCore Technologies: Embedded CPU microarchitecture design technology (based on M*Core, PowerPC, and RISC-V instruction sets);Key Products: IP licensing and chip customization services, cloud security chips, automotive electronic body and gateway control chips, engine control chips, RAID control chips, network communication processing controllers;Main Applications: Information security, automotive electronics and industrial control, edge computing and network communication;Competitive Advantage: Focusing on the R&D and industrial application of domestic embedded CPUs, with outstanding advantages in self-controllable core technologies, and significant advantages in the industrial application of national major needs and key areas (information security, automotive electronics and industrial control, edge computing and network communication).Zhongying ElectronicsCore Technologies: Home appliance main control MCU technology, lithium battery management measurement technology;Key Products: General MCU, lithium battery management chips, AMOLED display driver chips;Main Applications: Consumer electronics, home appliances, automotive electronics, computing and networking, industrial control, etc.;Competitive Advantage: Products focus on high cost-performance ratio, high reliability, low defect rate, and high yield as core competitiveness. Focused on the R&D of existing industrial control MCU chips, OLED display driver chips, IIoT chips, and automotive electronics chips, continuously upgrading various products towards high-end, with process technology also migrating towards higher-end processes.Fengcai TechnologyCore Technologies: Motor drive control processor core ME;Key Products: Motor control chips MCU/ASIC, motor drive chips HVIC, motor-specific power devices MOSFET;Main Applications: Home appliances, power tools, computing and communication devices, sports mobility, industrial and automotive fields;Competitive Advantage: Integrating or partially integrating LDO, operational amplifiers, pre-drivers, MOS, etc. on a single chip, designing motor drive control dedicated chips with high integration, high efficiency, low noise control, and capable of completing complex control tasks. Effectively integrating chip design, motor drive architecture, and motor technology from the bottom architecture, achieving complex motor drive control algorithms at the chip architecture level through algorithm hardware implementation, forming an independently owned intellectual property motor drive control processor core ME.Espressif TechnologyCore Technologies: Wi-Fi 4 and Wi-Fi 6 IP, Bluetooth LE 5.0 and 5.2 IP, RISC-V MCU architecture, Wi-Fi MCU technology, Wireless SoC technology;Key Products: Wireless MCU, AIoT chips, Wireless SoC;Main Applications: Smart home, consumer electronics, IoT, industrial control, automotive networking, etc.;Competitive Advantage: Focusing on “processing + connectivity”. “Processing” centers around MCUs, including AI computing; “Connectivity” focuses on wireless communication, currently including Wi-Fi, Bluetooth, and Thread/Zigbee technologies, with product range expanding into the Wireless SoC field.Silan Microelectronics – MCU Product LineCore Technologies: Power control technology based on MCUKey Products: Electric control MCUsMain Applications: Industrial frequency converters, industrial UPS, photovoltaic inverters, servo products for textile machinery, various frequency conversion fan applications, and electric bicycles;Competitive Advantage: Adopting the IDM model, with a more prominent competitive advantage in the R&D of specialty processes and products, enabling close interaction between specialty process technology and product R&D, as well as the coordinated development of integrated circuits, power devices, power modules, MEMS sensors, optoelectronic devices, and compound chips.Jihai Semiconductor – Subsidiary of NastaCore Technologies: Custom design of self-developed SoC chips, security architecture of national cryptography SM algorithmsKey Products: APM32 general MCU chips, low-power Bluetooth 5.1 chips, industrial IoT SoC-eSE security chips;Main Applications: Consumer electronics, industrial control, information security, automotive, etc.;Competitive Advantage: The Jihai 32-bit APM32 industrial-grade/automotive-grade MCUs cover diversified CPUs of Cortex-M0+/M3/M4, have passed IEC61508/IEC60730 functional safety certification, AEC-Q100 automotive certification, and meet high reliability standards for industrial and automotive grades.BYD SemiconductorCore Technologies: Design and testing technology for industrial and automotive microcontroller chipsKey Products: IGBT, SiC devices, IPM, MCU, CMOS image sensors, electromagnetic sensors, LED light sources, and displays;Main Applications: Motor drive control systems for vehicles, vehicle thermal management systems, body control systems, battery management systems, in-vehicle imaging systems and lighting systems, as well as industrial, home appliances, new energy, and consumer electronics fields;Competitive Advantage: In addition to automotive-grade IGBTs, industrial-grade MCU chips and automotive-grade MCU chips have been mass-produced and shipped, making it the largest automotive-grade MCU chip manufacturer in China.Jiuquan OptoelectronicsCore Technologies: High-reliability MCU design that integrates high-precision clocks and low-power designKey Products: Energy metering chips, smart meter MCU chips, and carrier communication chips;Main Applications: Power grid terminals, smart meters, carrier communication devices, etc.;Competitive Advantage: A leading supplier of smart meter chips with a relatively high market share in the domestic market.Zhongwei SemiconductorCore Technologies: High-reliability MCU technology, mixed-signal processing technologyKey Products: Home appliance control chips, consumer electronics chips, motor and battery chips, and sensor signal processing chips;Main Applications: Home appliances, consumer electronics, industrial control, medical devices, new energy vehicles, etc.;Competitive Advantage: Deeply engaged in the home appliance and consumer electronics MCU market for over 20 years, with comprehensive technology and product layout, currently upgrading to build a platform-type analog mixed-signal chip design company.Fudan MicroelectronicsCore Technologies: Ultra-low power MCU design with integrated peripheralsKey Products: Security and identification chips, non-volatile memory, smart meter chips, FPGA chips;Main Applications: Information security applications, smart cards, power grid terminals, smart metering, industrial control, IoT, etc.;Competitive Advantage: General low-power MCUs have accumulated shipments of tens of millions, with 20 years of industry accumulation and market validation, product quality and stability recognized by clients, and a complete R&D team and quality management system.Shanghai BeilingCore Technologies: Metering SoC integrating metering chips and MCUsKey Products: Power management chips, power devices, data converters, power-specific chips, IoT front-end, non-volatile memory, standard signal products;Main Applications: Network communication, mobile phones, set-top boxes, LCD TVs, high-end and portable medical devices, security devices, industrial control devices, smart meters, smart wearables, IoT, 5G, automotive electronics, and other application markets;Competitive Advantage: Product and business layout in two major categories of power chain and signal chain, with multiple sub-application fields.
