Steway: Three major businesses enable performance growth High-end products are emerging
Time:2024-05-18
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Source: Stevie Author: Stevie
April 28, 2024, Shanghai, China - Steway (Shanghai) Electronic Technology Co., LTD. (Stock abbreviation: Steway, stock code: 688213), on the evening of April 26, Steway, an advanced enterprise in high-performance CMOS sensor chip design, disclosed its 2023 annual report and 2024 quarterly report. During the reporting period, the company continued to deepen its efforts in the application fields of smart security, smart phones and automotive electronics, and strengthened product research and development and marketing to promote product sales. In 2023, the company achieved an operating income of 2.857 billion yuan, an increase of 15.08% over the previous year, and realized a net profit of 14.215,500 yuan attributable to the owner of the parent company. This was an increase of $9,963,500 over the same period last year, turning a loss into a profit.
In the first quarter of 2024, the company achieved operating income of 837 million yuan, an increase of 84.31% over the previous year, and realized net profit attributable to the owner of the parent company of 14.026100 million yuan, an increase of 39.070 million yuan over the same period of the previous year, achieving double growth of revenue and profit.
As a CMOS image sensor product enterprise committed to providing multi-scenario applications and full performance coverage, Steway adheres to the three-pillar development direction of "smart security + smart phone + automotive electronics", gives full play to the outstanding competitive advantages of efficient research and development, and further optimizes and improves the product matrix. Products have been widely used in security monitoring, machine vision, smart phones, automotive electronics and many other high-tech applications, and successfully build the second growth curve of high-end smart phone products, helping the industry to develop in the direction of more intelligent and information. In 2023, the consolidated revenue of Steway smart security industry reached 167,1330,800 yuan, an increase of 0.41% over the same period last year; The revenue of smart phones was 891,787,600 yuan, an increase of 50.40% over the same period of last year; Automotive electronics revenue was 29,424,900 yuan, an increase of 30.45% over the same period last year.
The smartphone business is booming, and the high-end products of the XS series have opened up a second growth curve
According to the latest data from Yole, the global CIS market size is about 21.3 billion US dollars in 2022, and the largest downstream area is smart phones, accounting for about 64%, so smart phones have also become an important area of the business layout of major CIS manufacturers.
In 2023, with the efficient research and development efficiency and the rapid expansion and close integration of downstream application customers, the smart phone business of STV developed vigorously, and achieved annual revenue of 89,1,787,600 yuan, accounting for 31.21% of the main revenue. The mobile phone business grew 50.40% year-over-year, mainly due to the deepening cooperation with existing customers and the successful mass production of high-end 50 megapixel products for the first time in 2023.
It is worth noting that the high-end XS series products launched by Steway and a number of new image sensors such as SC5000CS have brought more excellent imaging performance to the smartphone image system. Among them, the high-end XS series of products with advanced manufacturing technology, continuously improve the dynamic range of products, continuously reduce noise and optimize power consumption, and bring excellent texture images to the flagship smart phone main camera; As a 0.702μm pixel size image sensor, SC5000CS combines advantages such as high dynamic range, ultra-low noise, PDAF phase detection focusing, and low power consumption, with excellent dark light imaging performance, helping the mainstream mobile phone market mobile imaging technology to a new height.
It is reported that at present, several high-end XS series products launched by Sterway have achieved large-scale shipments, which not only opened up a second growth curve for the company‘s revenue, but also symbolized that the company has made significant progress in catching up with the high-end product lines of leading overseas manufacturers, thus further enhancing the company‘s market position and brand influence.
Smart security business continues to lead, technical advantages enable high-end product matrix innovation
In recent years, driven by the iteration and update of emerging technologies, the security industry has developed rapidly in the direction of digitalization, intelligence, and ultra-high-definition. As the world‘s leading intelligent security CIS enterprise, since its inception, we have focused on the development of visual imaging technology and CIS products in the field of security monitoring. With a perfect product matrix, excellent research and development strength and rapid response ability, we continue to maintain an advanced position in the global market. In 2023, the company‘s intelligent security industry revenue is 167,1330,800 yuan.
It is worth mentioning that, as the first 1/1.2"8MP image sensor product of Steway, SC880SL, through the large target surface to enhance the product‘s photographic performance, even in ultra-low light environment can still achieve excellent night vision imaging effect. In addition, the company launched several new products of upgraded AI series CMOS image sensors, which set better night vision full-color imaging, high-temperature imaging, and low-power performance advantages in one, which can better enable intelligent wireless cameras and multi-camera solutions such as home IPC and AIoT terminals, successfully opening the road of iterative upgrading of AI series products.
At the same time, as a pioneer and leader in the field of machine vision, the company‘s machine vision products have a significant technical influence and market position on a global scale, and the products have been widely used in industrial manufacturing and logistics fields represented by intelligent manufacturing, intelligent screening and intelligent logistics code reading. As well as the emerging application fields represented by drones, sweeping robots and AR/VR, and maintain close cooperative relations with customers such as DJI and Hikang Robots. According to the latest TSR data, in 2022, the company ranked first in the world in the two major areas of UAV and QRC reader market share, and accounted for about 90% of the global consumer UAV obstacle avoidance market.
The development momentum of automotive electronics business is strong, which helps the company‘s sustainable development
Under the unstoppable technological development trend of automobile intelligence and autonomous driving, the automotive electronics market has become a new growth point of the CIS market. As one of the few manufacturers in China that can provide vehicle scale CIS solutions, the company has released more than ten products for the three major application scenarios of vehicle image, perception and cabin, covering the application needs of vehicle perception and image segmentation with 1MP~8MP resolution. Among them, the company‘s new 5MP high-resolution RGB-IR global shutter image sensor released in 2023 - SC533AT, which combines five performance advantages of high resolution, high shutter efficiency, low noise, excellent color performance, and excellent near-infrared sensitivity. For high-end driver monitoring system (DMS), passenger monitoring system (OMS) to bring more accurate and reliable in-cabin visual perception capabilities, with high performance and high reliability to promote the development of a higher level of intelligent driving.
At present, Sitway‘s vehicle-mounted CIS products have been mass produced in BYD, SAIC, Dongfeng Nissan, Great Wall, South Korea Ssangyong, Zero Run, Chery, GAC, Jiangling, Geely and other OEM factories. According to the latest Yole report, in 2022, Steway has ranked fourth in the global and second in the domestic CIS market. With the continuous development of automotive intelligence and autonomous driving, and the continuous improvement of the front-loading rate of panoramic view, the automotive electronics business will also become a strong engine to help the company‘s long-term sustainable development.
Efficient research and development to create new quality productivity, property barriers escort advanced status
At present, the concept of new quality productivity has become the focus of the market. Relying on an outstanding R & D team, Steway has developed a diversified and differentiated product series with efficient chip R & D capabilities, and constantly focuses on technology upgrading and innovation. In 2023, the total investment in R&D of Steway exceeded 286 million yuan, and the number of R&D personnel accounted for 47.84% of the total number of the company. At the same time, Steway has also established deep barriers in intellectual property rights, and as of December 31, 2023, the company has obtained a total of 424 authorized patents (including 98 overseas patents), helping the company‘s research and development and technological innovation to a new level.
Looking to the future, Steway said that the company will continue to maintain research and development investment, optimize product matrix, improve product performance and user experience, strengthen cooperation with core customers, expand cooperation areas, and actively explore new market opportunities to further consolidate and enhance its advanced position in the field of smart security, smart phones and automotive electronics, and achieve more robust and sustainable development.
About SmartSens Technology
SmartSens Technology (Stock abbreviation: Smartway, stock code: 688213) is a high-tech enterprise engaged in the development, design and sales of CMOS image sensor chip products, headquartered in Shanghai, China, with R & D centers in many cities and countries.
Since its establishment, Steway has always focused on the innovation and research and development of high-end imaging technology, and has been recognized and favored by many customers with its own performance advantages. As a CMOS image sensor product enterprise committed to providing multi-scenario applications and full performance coverage, the company‘s products have covered the full performance requirements of multi-scenario applications such as security monitoring, machine vision, intelligent vehicle electronics, and smart phones.
Steway will uphold the vision of "allowing people to better see and understand the world with cutting-edge intelligent imaging technology", take customer needs as the core driving force, continue to promote the upgrading of cutting-edge imaging technology, expand product application areas, and work with partners to promote the deepening development of future intelligent imaging technology. For more information, visit: www.smartsenstech.com.
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