With continuous investment in research and development, domestic CMOS chip maker Sitwell (688213.SH) has completed the layout of three business segments: smart security, smartphones and automotive electronics.

 

 

On August 28, Sitwell released its 2022 semi-annual results report. The company achieved revenue of 1.01 billion in the first half; net profit of 4.9757 million yuan.

 

CMOS industry expert Liu Sheng told Tide Electric Intelligence, "The current hardware infrastructure of national industry security is basically complete, the market is difficult to see explosive growth in a short period of time, but high-definition intelligent surveillance video products, as well as individual consumer-level market still has considerable incremental space."

 

During the reporting period, the main revenue share of Stowe smart security, smart phones, automotive electronics were 77%, 16.5% and 6.5%. The main intelligent security of the proportion of the obvious trend of gradual decline, smart phones and automotive electronics business is growing rapidly, the "Golden Triangle" business structure to create the shape.

 

Tide electricity think tank Sun Yanbiao that, from the economic law, there are levels of business development. Stowe is currently located in the wind track, which shows the company's ability to expand the market, as well as the strategic vision of the visionary power.

 

Compared to the security industry, smart phones and automotive electronics on the volume of demand for CMOS is much larger. Liu Sheng analysis said, "At present, the world can simultaneously meet the supply of these major areas of CMOS manufacturers no more than 10, coupled with the technical innovation capacity of the Stowe has been widely recognized in the industry, so its future can usher in a period of rapid growth."

 

Intelligent security: revenue of 777 million yuan, product matrix advantage is obvious

 

In the security CMOS track, Sitwell frequently issued new products, its complete product matrix to further consolidate and increase the company's leading position in the industry.

 

So far, Sitwell has launched a 9-megapixel high-resolution global shutter image sensor product SC910GS for intelligent transportation applications, becoming the first company to launch a high-resolution global shutter image sensor product for intelligent transportation systems in China. The recognition rate can exceed 90%.

 

SC830AI is based on the third generation of ultra-low illumination based on the BSI process of starlight level night vision full color technology, the performance to achieve comprehensive improvement.

 

As the first super starlight series product, SC850SL stacked architecture 8 megapixel image sensor, the product sensitivity increased by 15% compared with similar products in the industry.

 

 

In addition, the company launched the fourth generation of low-light based on the FSI process of the micro-light level night vision full color technology landing the first chip product SC233A, compared to the previous generation of products to improve the sensitivity of 20%.

 

Smartphone: revenue of 167 million yuan, into the supply chain of Xiaomi, Samsung and other head brands

 

CMOS as the core imaging device has become the key area of smartphone camera performance breaking the wall, of which 50 megapixel chip is the most popular. As the current mainstream configuration of flagship phone main camera, 50 megapixel CMOS will have a solid life cycle in the longer term.

 

Starting from 2020, Storwell has initiated the development of consumer CMOS series products required for smartphones. In March this year, its first 50MP ultra-high resolution 1.0μm pixel size CMOS new product SC550XS was successfully released.

 

 

Up to now, Sitwell's smartphone CMOS products cover the mainstream needs of the current cell phone market, with product resolutions ranging from 2, 5, 8, 13 to 50 megapixels. As of the reporting period, the company's products are used by many domestic and foreign brand cell phone customers such as Xiaomi Technology, Samsung Mobile, Lenovo Technology and Glory Technology on a large scale.

 

Automotive Electronics: Front-loading SC120AT chip has been mass produced with full scene coverage capability

 

Smart cars are recognized as the biggest windfall in the next decade. Data show that from January to July this year, the production and sales of new energy vehicles reached 3.279 million units and 3.194 million units respectively, with a year-on-year growth of 1.2 times and a market share of 22.1%.

 

During the reporting period, the sales revenue of Stowe's automotive electronics CMOS was 65.99 million yuan, up 15.2% year-on-year, accounting for 6.5% of the main revenue.

 

In 2021, the company formally launched its on-chip ISP 2-in-1 image sensor SC120AT for automotive front-mount series, which has already achieved volume shipments for full vehicle projects, and has also received a high number of new project orders from vehicle manufacturers.

 

In May and June of this year, Stowe launched the new automotive products SC2331AT and SC800AT, as well as the new 2.5MP automotive-grade image sensor SC220AT.

 

 

In the field of automotive, Stowe has invested a lot of R&D resources since 2021 and developed CMOS products covering a wide range of automotive applications, such as 360-degree panoramic video, car recorder, cabin monitoring, electronic rearview mirror, ADAS and other fields.

 

Stowe said that it will continue to invest in R&D and innovation, with the goal of completing full product coverage of smart car series application scenarios in 2022 to meet the various application needs of smart cars.

 

It is worth noting that during the reporting period, Sitewell invested 125 million yuan in R&D, up 52.8% year-on-year, mainly because the company expanded the scale of its R&D team in order to consolidate the technological leadership of existing products while developing new technologies and products, and the number of R&D personnel increased 67% year-on-year, and the labor cost of R&D personnel rose.

 

Tide Electric think, with the "smart security + smart phones + automotive electronics" of the three business lines to support, Stowe's business portfolio will be more robust. In the general trend of downstream customers have crossed the border, the company will have stronger adhesion and richer cooperation space with them.