Technical capability A leading domestic wireless communication platform chip design enterprise

aojie technology was established in 2015. the founder of the company, Mr. Dai baojia, is the founder and former CEO of retico and has rich experience in the field of wireless communication chips. The company has mastered 2G/3G/4G/5G full-standard cellular baseband chip and multi-protocol non-cellular IoT chip design capabilities, ultra-large-scale digital-analog hybrid integrated circuits, RF chips, innovative baseband RF integrated integration technology and ultra-low power SoC chip design and other core technologies.

The advantages of iteration and integration of IoT products are obvious, and Redcap commercialization is gradual

The cellular module market continues to grow, and 4G/5G is expected to be the mainstream of shipments in the future. 4G, the company Cat. 1 Products have cost advantages, the company's integration advantages are obvious, with the current round of industry inventory de-stocking, downstream demand recovery and the company's new product launch, Cat. 1 Product income elasticity is expected to be released. 4 domestic leading enterprises are accelerating the process of domestic substitution. the company has entered the T-Box industry chain. the development of the car networking market may empower the company. Cat.6/7 products have also passed the certification of many operators. in the future, with the introduction of the company's new product numbers, Cat.6/7 business is expected

High growth. 5G, the company's 5G cellular baseband chip has begun to ship in bulk, long-term growth space is broad, Redcap products or will be launched in 24-25 years, contributing new growth momentum.

4G mobile phone baseband chip is expected to achieve "from 0 to 1" breakthrough

Baseband chip has high barriers, low localization rate, huge investment in research and development, and independent third-party manufacturers have the advantage of large-scale mass production, low-end mobile phones are less likely to use self-developed chips, providing sufficient market space for independent third-party baseband chips. Through the acquisition of Marvell, the company to enhance the technical strength of mobile phone baseband chips, and by Xiaomi, Wentai and other companies strategic stake. The company's 4G smartphone chip (SoC) production version has been completed, or will be shipped in 24H1 production. Non-cellular IoT chip platform enterprises: The company's non-cellular IoT chip products cover WiFi, Bluetooth, LoRa, etc. Among them, the company's WiFi products in a number of indicators better than the competition, a new generation of WiFi6 Internet of Things chip in research. The company's non-cellular products form a product matrix, and the high integration of cellular baseband products helps to differentiate with competitors and broaden the enterprise moat.

5G AIoT brings new market demand for the company's IP authorization and chip customization business

the company has provided chip customization services to many leading enterprises in the industry. at the same time, "5G AIoT" has brought new application scenarios and market demand to the company's products. In terms of IP authorization, the ISP IP authorization developed by the company has covered leading domestic well-known mobile phone manufacturers and well-known system manufacturers in other industries, and has opened up the authorization field of high-end display processors.

Risk Alert: Risk of new product shipments falling short of expectations, risk of gross margin fluctuations, downstream demand falling short of expectations

risk, international trade friction risk.

Release Date: 2024-01-15

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