A: Basic Information of the Company
Company Full Name: SigmaStar Technology Ltd.
Stock Code: 301536
Stock Abbreviation: SigmaStar Technology
Region: Xiamen, Fujian Province
Industry: Computer, Communication and Other Electronic Equipment Manufacturing
Establishment Date: December 21, 2017
Founder: Lin Yongyu
Company Website:http://www.sigmastar.com.cn
Registered Address: 16th Floor, No. 1 Houzhan Road, Tong'an District, Xiamen, Fujian Province
Total Share Capital: 421 million shares
Market Capitalization: 20.127 billion CNY (as of October 24, 2024)
Business Scope: Focusing on the research and development and sales of video surveillance chips, products are mainly applied in the fields of smart security, video intercom, intelligent vehicles, etc.
Company Profile: SigmaStar Technology Co., Ltd., established on December 21, 2017, is a high-tech enterprise dedicated to the research and development and sales of audio and video processing chips. The company's products cover various fields such as IPCam, USBCam, NVR, DVR, vehicle electronics, sports cameras, smart home, robots, and industry. SigmaStar has rich experience in the full process of SoC design, adheres to the independent research and development of main IPs, and has leading advantages in the fields of image signal processing (ISP), audio and video encoding and decoding, and is actively investing in the research and development of chips in new fields such as artificial intelligence. The company is headquartered in Xiamen and has R&D centers and marketing service and technical support centers in Shenzhen, Shanghai, Chengdu, Hangzhou, and other places.
B: Value Investment Analysis
Key Financial Indicators:
Revenue: 1.813 billion CNY for the period of January-September 2024, a year-on-year increase of 22.95%.
Net Profit: 196 million CNY for the period of January-September 2024, a year-on-year increase of 4.51%.
Market Capitalization: 20.127 billion CNY (as of October 24, 2024).
PE (TTM): According to the data from Eastmoney, SigmaStar Technology's PE (TTM) is 94.41, and the price-to-book ratio is 6.95 .
Company Investment Value:
SigmaStar Technology, as a global leader in video surveillance chips, is mainly engaged in the research and development and sales of video surveillance chips, which are mainly applied in the fields of smart security, video intercom, intelligent vehicles, etc. The company has a global market share of 36.5% and 38.7% in the IPC SoC and NVR SoC markets, respectively, ranking first in the market; in the field of video conferencing, it has a global market share of 51.8% in the USB video conference camera chip market, ranking first in the market; in the field of intelligent vehicles, it has a market share of 24.0% in the Chinese driving recorder chip market, ranking second in the market. The company continues to layout AI technology and has made certain progress in products in various fields, with great potential for future development.
Company Growth Potential:
The growth potential of SigmaStar Technology is mainly reflected in the following aspects:
Technological Innovation: The company has a deep technical accumulation in the field of video surveillance chips and continuously launches new products to meet market demands.
Market Demand: With the rapid development of industries such as smart security, smart home, and intelligent vehicles, the demand for high-performance video surveillance chips is increasing, providing a broad market space for the company.
Industrial Chain Integration: The company has built an integrated upstream and downstream film material industry strategy, laying a solid foundation for the sustainable development of the business.
Industry Support Policies:
National support policies for strategic emerging industries such as semiconductors and integrated circuits provide a favorable external environment for SigmaStar Technology. With the development of related industries, it will further promote the growth of the video surveillance chip industry, bringing more development opportunities for the company.
International Policy Risks:
SigmaStar Technology may face risks such as changes in trade policies and exchange rate fluctuations in the process of internationalization. The company needs to closely monitor international market dynamics and flexibly adjust market strategies to cope with potential policy risks.
A.Top's Investment Review:
SigmaStar Technology, as a global leader in the field of video surveillance chips, shows strong investment value and growth potential due to its technological strength, market prospects, and industrial chain integration. However, the company may also face certain policy risks in the process of internationalization. Investors should comprehensively consider the company's technical capabilities, market prospects, and potential risks when considering investing in SigmaStar Technology, and make rational investment decisions.