Event: June 16, 2022, the company issued an announcement, the shares completed the transfer registration, the company's largest shareholder changed to Hainan Xinlian Micro Technology Co., Ltd., the actual controller changed to Lin Feng.

The new controller has a strong background in the semiconductor industry. Mr. Lin Feng, the new chairman of the company, graduated from Peking University and was the chairman of Silicon Valley Digital and Analog Semiconductor Co., Ltd. He has been vice chairman and general manager of the company since January 2022. Silicon Valley digital model was founded in 2002, mainly engaged in digital multimedia chip design and development, in high-speed signal transmission processing, high-definition display technology, protocol conversion technology and other fields for many years.

Invest in Suzhou Neixia and transform the semiconductor industry. In September 2020, the company announced that the company intends to increase the capital of Suzhou Neixia Semiconductor Co., Ltd. (Suzhou Neixia) and subscribe to Suzhou Neixia Semiconductor's registered capital of 51 million yuan. In February 2021, the company formally signed the "Capital increase Agreement", "shareholder Agreement" and other related agreements, and obtained 51% of the shares in Suzhou Neixia. In April 2021, the company announced the completion of the registration procedures for industrial and commercial changes in Suzhou Neixia.

Suzhou Neixia's main products are LDD (I display driver chip) products, which are based on High-SpeedInterface (high-speed transmission) R & D and design and approved by Samsung USI-T protocol. The product performance can support medium and high-end large-size display products 4K and 8K display.

Invest in AVIVALINKS and enter the field of autopilot. In January, 2021, the company announced that the company intends to invest 300000 US dollars to participate in the investment subscription of Aviva Technology Holding (Aviva) seed wheel. Aviva is committed to the development and design of next-generation vehicle interconnection systems, related semiconductor hardware and data transmission solutions to support the development of advanced driving aids in the smart car industry.

Investment advice: optimistic about the company from the traditional industry to the semiconductor and self-driving industry, the company's new real controller's industrial background is expected to enable the company, the 23-25 EPS is expected to be 0.28,0.41,0.65 yuan respectively, covering the "buy" rating for the first time.

Risk hints: the transformation is not as strong as expected; the development of semiconductor business is not as expected; the competition in the industry is intensified.