On April 19, the China Securities Regulatory Commission (CSRC) announced that it had agreed to the registration application for the initial public offering of shares on the Science and Technology Innovation Board of Shenzhen Biyi Microelectronics Co., Ltd. (hereinafter referred to as "Biyi Micro") in accordance with legal procedures.
According to the data, the main business of Biyi Micro is the design and sales of power management chips and motor drive control chips, and the products are mainly used in LED lighting, general power supplies and home appliances and IoT and other fields. At present, the company has produced more than 600 power management chip specifications and models, and has become the main supplier of full-solution power management chips.
From 2018 to 2020, Biyiwei achieved operating income of 256.6722 million yuan, 348.1589 million yuan and 429.4858 million yuan, respectively, of which 35.64% and 23.36% increased year-on-year in 2019 and 2020, and the corresponding net profit attributable to the owners of the parent company after deducting non-recurring gains and losses was 24.5692 million yuan, 23.4978 million yuan and 48.8292 million yuan, respectively, with an average annual compound growth rate of 40.98%. It shows a rapid growth trend.
In terms of power management chips, Biyi micro has become the main supplier of power management chips for all solutions, power management chip products cover 0.1W-200W, widely used in LED lighting, general power supply, home appliances and IoT power supply and other fields, in the domestic AC-DC power chip industry has a leading scale advantage.
In the field of LED lighting, the company has a wealth of products and complete solutions of chip design, has now covered Debon Lighting, Philips, Foshan Lighting, Kaiyao Lighting, Langde Vance, RieterSen and Sunshine Lighting and other first-line brand customers. According to the statistics of the Prospective Industry Research Institute and the August 2020 research report of Guoyuan Securities, the output of CHINA's LED lighting products in 2020 is expected to be 13.2 billion, according to the calculation of each LED lighting product usually supporting an LED lighting drive control chip, the company's market share in 2020 is 17.17%.
In the field of general power supply, Biyiwei has launched a power management chip that drives the third generation of semiconductor gallium nitride devices, and is a chip design enterprise that can provide diversified power management chip categories and solutions in the application field of general power supply. The company's end customers in this field mainly include Diwen, Oulutong, Tianbao, Zimi, Anker Innovation and Ojay.
In the field of home appliances and IoT, the company has withstood strict market inspection through continuous investment and continuous technology accumulation, and its products are comparable to those of domestic and foreign competitors. In this field, the company has cooperated with well-known enterprises such as Omar, Jiuyang, Suber, Xiaomi, Xiaoxiong and Gree.
It is worth mentioning that in June 2020, Yuan Chengjun, a shareholder of Biyiwei, transferred 4.50% of the shares held by biyiwei to Xiaomi Yangtze. It said that the introduction of Xiaomi Yangtze River into the main series of business cooperation with Xiaomi Group, which is conducive to expanding the power management and motor drive control chip market.
It is reported that at the end of 2020, Biyiwei has begun to mass-produce and sell purple rice, a member of the xiaomi group's industrial ecological chain. With the continuous deepening of cooperation with Xiaomi, Biyiwei is expected to achieve rapid growth driven by Xiaomi's IoT business.
(Proofreading/Lee)