"Star Daily" news on October 25th (Reporter Qiu Siyu) - "Q3 net income increased by more than 141 times year-on-year", today (October 25th), CMOS image sensor chip manufacturer Scivision released the third quarter report for 2024.

The company achieved revenue of 4.208 billion yuan in the first three quarters of this year, a year-on-year increase of 137.33%; net income attributable to the mother was 0.273 billion yuan. Among them, in the third quarter, revenue reached 1.751 billion yuan, a year-on-year increase of 150.04%; net income attributable to the mother was 0.123 billion yuan, a year-on-year increase of 14181.63%.

Regarding the reason for the performance growth, Scivision explained that during the reporting period, the company achieved high growth in shipments in the three major application areas of smart phones, automotive electronics, and smart security, driving a significant increase in revenue scale.

Specifically, in the smart security field, the company's newly launched iterative products saw a significant increase in sales volume, and the increase in sales revenue was quite noticeable; In the smart phone field, the shipment volume of several high-end 50 million pixel products used in flagship smart phone main camera, wide-angle, telephoto, and front camera lenses has significantly increased.

Meanwhile, Scivision also stated that the company's cooperation with customers has deepened comprehensively, its products meet more application needs, market share continues to rise, driving a significant increase in the company's revenue in the smart phone field, opening up a second growth curve.

In terms of research and development investment, Scivision's research and development investment in the first three quarters totaled 0.321 billion yuan, a year-on-year increase of 50.11%. In terms of new product research and development, in August this year, the company successfully mass-produced the 0.18 billion pixel full-frame CIS product it designed and developed.

It is reported that ultra-high pixel, large format, high-performance CIS is a technical highlight in the field of image sensor design, with Japanese companies holding a monopoly in this area. Recently, the company jointly launched a 0.18 billion pixel full-frame CIS product with an Anhui-based integrated circuit company, filling the technical gap for local companies in this field.

Sitron disclosed a notice of asset impairment provision this evening (October 25th), with a total inventory write-down loss of 63.115 million yuan in the first three quarters of 2024.

Since the beginning of this year, the semiconductor industry has gradually entered a phase of cyclical reversal and demand recovery. According to SIA's forecast, global semiconductor industry sales in 2024 are expected to increase by 16% year-on-year to $611.2 billion and further rise to $687.4 billion in 2025.

The smartphone sector is the largest application market downstream of CIS. With the gradual recovery of downstream smartphone market demand, the industry destocking is drawing to a close. Coupled with domestic manufacturers' new product breakthroughs exceeding expectations, Group Wisdom Consulting predicts that the global smartphone CIS market size will reach $13.22 billion in 2024.

Meanwhile, automotive electronics also bring incremental growth to the CIS market. With the increasing number of cameras per vehicle and the use of high-resolution sensors, YOLE predicts that the automotive image sensor market will grow at an average annual compound rate of 5.4% from $2.3 billion in 2023 to $3.2 billion in 2029. The recovery in markets such as security surveillance, industrial, and medical will also generate new increments.

The continuous growth in demand for high-performance sensing driven by the recovery of smartphone demand, emerging application scenarios, and the explosion of AI applications is leading to a continuous expansion in the overall shipment volume and revenue of CMOS image sensors. According to YOLE statistics, the global CIS market is projected to grow at an average annual compound rate of 4.7% from $21.8 billion in 2023 to $28.6 billion in 2029.

Analyst Su Lingyao from BOC International stated that with the recovery of downstream terminal demand such as smartphones, the global CIS industry market size will show a steady growth trend. Considering Sony and Samsung are gradually reducing their CIS market share in China, while local CIS manufacturers are introducing high-spec CIS products, the domestic CIS rate in China is expected to further increase.