On July 2nd, the Shanghai Stock Exchange officially accepted the listing application of Suzhou Ming 皜 Sensor Technology Co., LTD. (referred to as: Ming 皜 sensor) Science and Technology Innovation Board. And just a few days ago on June 30, a collection of high-performance MEMS inertial sensor research and development, testing, sales as one of the high-tech enterprises, Anhui core dynamic link Micro System Co., Ltd. listed in the science and technology board, the listing rose 94.47%.

For a time, domestic MEMS sensor manufacturers competed to land on the science and technology innovation board, which is also a microcosm of the acceleration of localization in the technology field in recent years.

It is reported that MEMS chips are known as “electronic features”, which are used in consumer electronics, automobiles, automated industrial equipment, etc., and are ubiquitous in production and life. According to statistics from Yole Intelligence, the global sales volume of MEMS increased from 20.168 billion in 2018 to 30.359 billion in 2021, and the market size increased from $9.994 billion in 2018 to $13.595 billion in 2021. It is expected to reach 48.708 billion in 2027, and the market size will reach 22.253 billion US dollars.

Domestic MEMS currently accounts for a relatively low share of the global market, but it is faced with the technical opportunities of miniaturization, integration and low energy consumption of MEMS products.

Ming 皜 sensor intends to issue no more than 2,6200,763 ordinary shares to the public, accounting for no less than 25% of the total share capital after issuance, with a financing amount of 620 million yuan. Investment in high-performance and reliable MEMS inertial sensor development and system application projects, research and development center construction projects, MEMS sensor test base construction projects and supplementary working capital projects.

According to the prospectus, Ming 皜 sensor is mainly engaged in the research and development, design and sales of MEMS sensors. Since its establishment, the company has been laid out around MEMS inertial sensors and formed a product portfolio with MEMS accelerometers as the core, which is mainly used in consumer electronics fields such as smart phones, smart wearables, tablets/laptops, smart home, smart animal husbandry and other Internet of things fields as well as vehicle applications.

In terms of performance, the company’s operating income in 2020, 2021 and 2022 was 85.3551 million yuan, 170 million yuan and 198 million yuan, respectively. Net profit returned to the mother – 50.4085 million yuan, – 24.4305 million yuan, 27.9877 million yuan.

According to reports, with the advantages of miniaturization, low cost, high performance and high reliability, Ming sensor has been supplied to Honor, Xiaomi, Lenovo, Goerl, Samsung, Google, Comcast and other well-known end customers in the industry. In addition, the company’s vehicle gauge MEMS accelerometers have been supplied to Neusoft Group in bulk and have been introduced to automotive customers such as BYD.

As a chip design company operating in Fabless mode, the sensor core team of Ming  started technological innovation in manufacturing process earlier. The self-developed wafer-level 3D MEMS-CMOS micro-machining process platform has been mature applied to the 8-inch wafer production line of internationally renowned wafer foundries. It can meet the development and production needs of a variety of capacitive MEMS sensors, including MEMS inertial sensors. Through the collaboration of manufacturing process and chip design, the company’s products have the advantages of miniaturization and low cost, while significantly reducing the risk of failure, and meet or exceed the level of international competitors in key performance indicators. The company’s many years of stable and efficient mass production experience of consumer MEMS sensors has laid a reliable and effective technology and process foundation for the design and mass production of high consistency and high reliability of vehicle gauge products. At present, relevant vehicle gauge MEMS sensors have passed AEC-Q100 certification and have been introduced into the automotive front loading market.

At present, overseas manufacturers still have absolute market advantages. In the inertial sensor market, the top five companies with the highest global market share include Bosch, ST, Murata, NXP and Analog Devices, which together account for more than 80% of the market. In terms of pressure sensors, Bosch, TE Connectivity (Tyco Electronics), Infineon and other three foreign manufacturers accounted for more than 56% of the global market in 2021, and all the top ten manufacturers were foreign manufacturers, and the total market share reached 92%.

Facing the future, Ming 皜 sensor will rely on independent research and development design capabilities and continuous innovation of research and development concept, continue to force the localization of high-end products replacement: On the one hand, horizontal expansion of product lines, the development of MEMS gyroscope, IMU, MEMS environmental sensors and other new products, while the existing product series is constantly updated and iterated, continue to improve product market penetration, improve the company’s competitive position in the industry; On the other hand, the vertical expansion of product application areas, in the Internet of Things, new energy vehicles, medical health, industrial control and other rapid development of the market in-depth layout, and in advance to explore the application of products in other emerging areas, to seize the market development opportunities.