On February 2, Changchun Changguangchenxin Microelectronics Co., Ltd. completed the first round of review and inquiry reply to the IPO of the Science and Technology Innovation Board (hereinafter referred to as Changguangchenxin). Founded in 2012, Changguangchen Core is a pioneer in high-end CMOS image sensing technology in China. After years of development, it has gradually established a world-leading industry position and a large-scale market foundation in the professional fields of machine vision, scientific instruments, professional imaging and other professional fields. According to the Status of the CMOS Image Sensor Industry 2022 Market and Technology Report released by Yole, Changguangchenxin's global market share in the industrial field in 2022 is 963%, ranked fourth in the world and first in China. In the field of scientific instrument applications, the global market share is 764%, ranking fourth in the world and first in China.
Dr. Delft returnee, ten years of entrepreneurship, global layout.
Xinyang Wang, the founder of Changguangchenxin, graduated from Zhejiang University with a bachelor's degree and received his Ph.D. from Delft University of Technology in the Netherlands in 2008, with more than 15 years of experience in the field of CMOS image sensor design and more than 20 patents. In 2012, Dr. Wang Xinyang returned to China as a researcher of the "100 Talents" Program of the Chinese Academy of Sciences to join the Changchun Institute of Optics and Mechanics of the Chinese Academy of Sciences, and founded Changguangchen Core in the same year.
In addition to the Changchun headquarters, Changguangchenxin has gradually established R&D centers in Tokyo, Japan, Antwerp, Hangzhou and Dalian in Belgium. At the end of 2022, the company's master's degree or above accounted for 4695%, and 89 percent have a bachelor's degree or above72%。According to public information, Zhang Yanxia and Ma Cheng, the senior management team of Changguangchenxin, as well as core technical personnel Li Yang and Liu Yang, all have master's and doctoral studies at Delft University of Technology in the Netherlands.
With a high-quality talent team and excellent technical strength, Changguangchenxin's main business income has maintained strong growth in recent years. From 2020 to 2022, the main business income was 19,812310,000 yuan, 41,060770,000 yuan, 60,440740,000 yuan. With excellent product performance, the company has also achieved considerable sales revenue in Europe, America, Japan and South Korea, and overseas sales revenue accounted for. 86%。
Thanks to years of product research and development accumulation, the company continues to make efforts in the high-end market, and has established solid technical barriers in the fields of scientific instruments and machine vision. According to the company's prospectus, the unit price of Changguangchenxin's products from 2020 to 2022 is 0540,000 yuan, 0400,000 yuan, 0400,000 yuan, and the gross profit margin is even higher. 05% and 7763%。At present, Changguangchenxin's partners have covered more than 30 countries and regions around the world, including many internationally renowned manufacturers such as Teledyne, Vieworks, and Adimec, as well as domestic leading enterprises such as Hikrobot, Huarui Technology, DJI, Xintu Optoelectronics, and Echo Optoelectronics.
Outstanding profits, good management, and provincial industrial investment.
According to the company's reply to a round of inquiries, from 2020 to 2022, the company's operating income was 19,812310,000 yuan, 41,060770,000 yuan, 60,440740,000 yuan, the business scale expanded rapidly; Net profit after deduction of non-attributable to the parent company was 4,384370,000 yuan, 16,923580,000 yuan, 27,059210,000 yuan, profitability showed a steady growth trend. In the case of the decline in the prosperity of the semiconductor industry in 2023, the company still bucked the trend and achieved revenue of 31,238 in the first half of 2023750,000 yuan and net profit of 9,803A dazzling report card of 100,000 yuan, showing resilience.
In order to promote the introduction of R&D talents in Hangzhou's high-level CMOS image sensor industry and promote the development of the semiconductor industry in Zhejiang Province, on December 15, 2022, Hangzhou Chenxin, the issuer, Wang Xinyang and Zhejiang Province Industry *** signed the "Capital Increase Agreement" and the "Shareholders Agreement", agreeing that after the completion of the capital increase, the industry ** will hold Hangzhou Chenxin 1111% equity to support the development of Hangzhou Chenxin. The downstream customers and terminal applications of the CMOS image sensor industry show clustering advantages in the Yangtze River Delta region, and Hikrobot and HuaRay Technology, among the top five customers of Changguangchenxin in 2020-2022, are located in Hangzhou. As the leading supplier of core key components in the imaging system, Changguangchen Core works closely with downstream head customers, develops in a coordinated manner, and takes advantage of the surrounding regional policies and talents to further develop and grow.
According to the prospectus, China's machine vision, scientific instruments in the field started late, the industry has long been dominated by overseas brands, at this stage of the industrial chain upstream and downstream enterprises scale compared with foreign-funded enterprises there is still a big gap. However, with the blessing of national policies and the continuous improvement of the technical level of domestic related enterprises, the domestic substitution of CMOS image sensors will become the general trend in the future, and the domestic high-end CMOS image sensor industry will also enter the fast lane.
Undertake nuclear high-base projects, anchor high-end tracks, and have promising future performance.
The country has needs, and enterprises have responsibilities. In 2021, Changguangchen led the national "nuclear high-base" science and technology major project "8K ultra-high-definition image sensor chip and system application" project, and together with other high-tech enterprises, took the lead in the research and development of China's first 8K ultra-high-definition CMOS image sensor for professional imaging - GCINE4349, breaking the long-term dependence of China's ultra-high-definition imaging chips on foreign imports. The chip adopts advanced back-illumination and stacking technology, and has broken through a number of key technologies, which can meet the needs of many industries such as 8K radio and television, professional cameras, video cameras, drones, high-end 8K ** monitoring, etc., and has played an important role in accelerating the pace of upgrading China's ultra-high-definition film and television industry and maintaining the security of key basic core devices.
gcine4349
With the successful experience of the "nuclear high-base" project, Changguangchen also takes the R&D and industrialization of high-performance CMOS image sensors in the field of professional imaging as one of the main fundraising projects. According to Changguangchenxin's reply to a round of inquiries, the company has undertaken the next generation of professional imaging cameras for industry-leading customers.
According to the prospectus, Changguangchen Xinding's ** business revenue remained relatively stable, with an amount of 4,671 from 2020 to 2022320,000 yuan, 5,307$520,000 and $4,375200,000 yuan, the main application field is scientific machine and machine vision, but there has also been a breakthrough in the field of medical imaging.
According to the reply to a round of inquiries, Changguangchenxin signed a technical service contract with a domestic listed company in 2021 to develop a CMOS image sensor for endoscopes with a resolution of 2 million pixels, with a total contract value of 21.45 million yuan. The chip uses stacked technology to separate pixels and readout circuitry into two layers of wafers, the upper and lower layers of wafers, to achieve the highest resolution at the smallest outer diameter size, enabling high-definition imaging while reducing patient discomfort. At present, the basic functions of the chip have been verified, and the chip performance optimization work is being carried out. In addition, Changguang Chenxin signed a large-format CMOS image sensor technology service contract with a listed company in South Korea in 2023 for the field of medical X-ray imaging.
Changguangchenxin's business can not only help domestic and foreign industry head customers to build the core key devices in their next-generation instruments and equipment, but also deeply bind with the head customers in various industries, build intellectual property barriers, improve the industry threshold, and form stable and high return performance expectations.
After 11 years of deep cultivation in CMOS image sensors, Changguangchenxin, a "unicorn" in Northeast China that has always been low-key, has begun to move towards the capital stage. In the future, Changguangchen is expected to provide advanced CMOS image sensor products and high-quality services for global partners with the empowerment of the capital market, lead the industry to continue to move forward, and let the world see the feelings and responsibilities of Chinese technology enterprises.