Securities Star News, on November 4, 2024, Geke Micro (688728) announced that the company will hold a performance briefing on October 30, 2024, Bright Valley Capital Limited, Northeast Securities Co., Ltd., Oriental Wealth Securities Co., Ltd., Donghai Securities Co., Ltd., Franklin Templeton Investment Management (Shanghai) Co., Ltd., Goldman Sachs (China) Securities Co., Ltd., Everbright Prudential Fund Management Co., Ltd., Guangdong Lotus Private Equity Securities Investment Fund Management Co., Ltd., GF Securities Co., Ltd., Sinolink Securities Co., Ltd., Sinolink Securities Asset Management Co., Ltd., IGWT Investment Investment Co., Ltd., Guotai Junan Securities Co., Ltd., Haitong Securities Co., Ltd., Hanchuan Investment Management (Zhuhai) Co., Ltd., Hangzhou Nine Dragons Asset Management Co., Ltd., Sequoia Capital Equity Investment Management (Tianjin) Co., Ltd., Citigroup Global Markets Asia Limited, Citigroup Global Markets Limited, Hua Chuang Securities Co., Ltd., Huafu Securities Co., Ltd., Huatai Securities Co., Ltd., JK Capital Management Co., Ltd., Huaxi Securities Co., Ltd., Huaxi Capital, Huaxin Securities Co., Ltd., HSBC Qianhai Securities Co., Ltd., Jiangsu Fifth Congregation Investment Management Co., Ltd., Junyi Zhenhua (Beijing) Management Consulting Co., Ltd., Kaiyuan Securities Co., Ltd., Kunlun Health Insurance Co., Ltd., J.P. Morgan Securities (China) Co., Ltd., Morgan Stanley Fund Management (China) Co., Ltd., Anhui Light Array Optoelectronics Technology Co., Ltd., Ningbo Mingsheng Asset Management Co., Ltd., Panhou Momentum (Shanghai) Capital Management Co., Ltd., Ping An Securities Co., Ltd., Qingdao Weisheng Investment Management Co., Ltd., Shanxi Securities Co., Ltd., Shanghai Biaopu Investment Management Co., Ltd., Shanghai Bo Du Investment Management Co., Ltd., Shanghai Chenyan Asset Management Center (Limited Partnership), Shanghai Dianbao Asset Management Co., Ltd., Shanghai Silicon Industry Group Co., Ltd., Beijing Acorn Asset Management Co., Ltd., Shanghai Guiyuan Investment Co., Ltd., Shanghai Jingxi Investment Management Partnership (Limited Partnership), Shanghai Jinglin Asset Management Co., Ltd., Shanghai Lei Jun Asset Management Co., Ltd., Shanghai Lingze Investment Management Co., Ltd., Shanghai Horse Chestnut Asset Management Co., Ltd., Shanghai Shizheng Investment Management Co., Ltd., Shanghai Wudi Private Equity Fund Management Co., Ltd., Shanghai Yunmen Investment Management Co., Ltd., Shenzhen Shangcheng Asset Management Co., Ltd., Beijing Zhuowen Boyu Investment Management Co., Ltd., Shenzhen Xingyi Investment Management Co., Ltd., Shenzhen Yujin Investment Co., Ltd., Shenzhen Happy Time Private Equity Securities Fund Management Co., Ltd., Shenzhen Zhongtian Huifu Fund Management Co., Ltd., Taiping Guofa (Suzhou) Capital Management Co., Ltd., Western Securities Co., Ltd., Southwest Securities Co., Ltd., The Hongkong and Shanghai Banking Corporation Limited, DBS Securities (China) Co., Ltd., Industrial Fund Management Co., Ltd, Talent Capital Management Co., Ltd., Nomura Orient International Securities Co., Ltd., Yingzhou Asset Management Co., Ltd., Great Wall Securities Co., Ltd., China Merchants Securities Co., Ltd., Zhengzhou Xinyu Investment Management Co., Ltd., China International Capital Corporation Limited, Zhongtai Securities Co., Ltd., China Securities Co., Ltd., CITIC Securities Co., Ltd., Marsh (China) Insurance Brokers Co., Ltd. Shanghai Branch, Debang Securities Co., Ltd. participated.

The details are as follows:

Q: As the first manufacturer in the market to launch and mass-produce high-pixel single-chip technology solutions and products, how does the company maintain its competitive advantage in the face of products with similar technical routes launched by competitors?

A: Dear investors, hello! First of all, the company is very happy to see that friends follow up the company's technical route, which proves that the company's technical direction is correct. Secondly, friends follow up our direction, or need to carry out long-term continuous optimization, Geke Micro has a first-mover advantage, and it is difficult to catch up. Third, the company has built its own production line, which has more than doubled the speed of product development and iteration, which has an advantage over its competitors.

Q: What is the margin range for high-end CIS?

A: Dear investors, hello! The gross profit margin is related to the market share, and the company's low-pixel products have a high market share, so the gross profit margin is higher. The market for high-pixel products is fiercely competitive, and the gross profit pressure is greater, but the company has maintained a certain gross profit margin of about 20% by virtue of the advantages of high-pixel single-chip integration technology. In the future, with the gradual increase in the market share of the company's high-pixel products, especially the gradual increase in the shipment of 50 million pixel products, the gross profit margin of the company's high-pixel products will also be improved accordingly, thank you.

Q: What are the current customer status of the company's 50 million pixel products?

A: Dear investors, hello! The company's 0.7 micron 50 million pixel product has been mass-produced and shipped, and the 1.0 micron 50 million pixel product GC50B2 is being intensively debugged with customers. Overall, the company starts from the main camera market of a large number of models of the Anzhuo brand, and is expected to continue to optimize the old products at the end of this year, launch new products, new products will use the company's second-generation technology, and make great progress in performance, not inferior to the well-known products of the same specification on the market, thank you.

Q: What is the company's business plan for automotive?

A: Dear investors, hello! Automobile is a very fast-growing market, the company's products have achieved a certain amount of shipments in the car rear, currently for the car pre-installation is developing related products, and continue to connect with customers, hope to achieve a certain shipment next year, thank you.

Q: What is the company's progress in spectral CIS?

A: Dear investors, hello! Multispectral product research and development is difficult, mass production yield rate is difficult to control, but the company has overcome various difficulties to achieve mass production and shipment of products, through the test sample, you can see that the image effect of the product is very good, the company is very optimistic about this product. Other due to the customer's confidentiality requirements, the specific situation is inconvenient to disclose, thank you.

Q: What are the advantages of the company's Lingang plant and the progress of product replacement?

A: Dear investors, hello! The most important thing about image sensors is the characteristic process. Previously, when the company was a Fabless business model, it could not ask the foundry to add hundreds of millions of yuan worth of equipment to the company's research and development of characteristic processes, and the company could only develop processes based on existing equipment, and it could not form characteristic processes. The company has its own factory, which can purchase special equipment, develop characteristic processes, and create competitive products, which is the biggest advantage of the factory. In addition, the self-owned production line can also coordinate production capacity, improve the speed of research and development, and protect the company's patents.

Q: What is the main application range of the company's 32 million pixel and 50 million pixel products? Does the main camera and telephoto have a wide angle? What is the plan for the follow-up new product launch? What is the target market?

A: Dear investors, hello! First of all, the company's 32 million pixel products have achieved mass production and application of the front and rear main cameras of mainstream Android brand mobile phones, and there are many applications for the front main camera. In terms of 50 million pixel products, the 0.7-micron GC50E0 has been mass-produced and shipped by brand customers, and the target market is entry-level Android brand mobile phones. The 1.0 micron GC50B2 is under intense debugging with customers, and customers are currently satisfied with its performance and are expected to ship soon. Starting at the end of the year, the company will launch new 50-million-pixel products. The company's 50 million pixel products will cover high, medium and low-end end markets.

Q: At present, the company has its own factory, how about the distribution of production capacity? What products does the factory mainly produce, and what is the production planning of the products in the future?

A: Dear investors, hello! The difficulty of building a factory is very high, and there are many big problems, the first is to form a team, the second is the large amount of funds required, and the third is the need to have products to fill the production capacity. In the early stage, the company filled the production capacity through low-end products, and successfully operated the factory, starting to make 8 million pixel products, and in the first half of this year, the products were successfully upgraded to 13 million pixels, and some of the current production capacity has been upgraded to 50 million pixel products. The company expects to convert all the production capacity of the Lingang plant to high-pixel production around the middle of next year. The company will use the standard process of the product in the cooperative factory production, the company's own factory to produce the product that requires special technology.

Q: What is the gross profit margin of the company's display driver chips? How do you see the recovery of the profitability of the overall display driver chip industry next year?

A: Dear investors, hello! The competition in the display driver chip industry is indeed fierce, and the gross profit of TDDI products is about 10 points, and many small companies may withdraw from this market.

Geke Micro (688728) main business: R&D, design and sales of CMOS image sensors and display driver chips.

Gekewei's third quarter report in 2024 shows that the company's main revenue is 4.554 billion yuan, an increase of 40.35% year-on-year; the net profit attributable to the parent company was 8.1114 million yuan, a year-on-year decrease of 83.69%; deducted non-net profit -43.2393 million yuan, a year-on-year decrease of 34.52%; In the third quarter of 2024, the company's single-quarter main revenue was 1.764 billion yuan, a year-on-year increase of 36.43%; The net profit attributable to the parent company in a single quarter was -69.3781 million yuan, a year-on-year decrease of 195.62%; Non-net profit deducted in a single quarter was -89.2213 million yuan, a year-on-year decrease of 384.71%; The debt ratio was 65.24%, the investment income was 4.7097 million yuan, the financial expenses were 221 million yuan, and the gross profit margin was 23.37%.

A total of 6 institutions have rated the stock in the last 90 days, 4 have given buy ratings and 2 have overweight ratings. The average institutional price target over the last 90 days is 17.1.

Here's the detailed earnings forecast information:

Margin data shows that the stock has a net financing inflow of 17.7321 million in the past three months, with an increase in the financing balance, and a net outflow of 5.2944 million in securities borrowing and lending, with a decrease in the balance of securities borrowing and lending.

The above content is compiled by Securities Star based on public information, generated by intelligent algorithms, and does not constitute investment advice.