SigmaStar

Company Overview

Founded in 2017 and headquartered in Xiamen Torch Hi-Tech Zone, SigmaStar Technology Ltd. (stock code: 301536) is a company that specializes in intelligent visual processingChip R&DThe company is a high-tech enterprise. The company's core team originated from Taiwan's MStar Semiconductor, a subsidiary of MediaTek, and has a deep technological accumulation, adheres to the independent research and development of major IPs, and has the ability of full-stack self-research in the fields of image signal processing, audio and video coding and decoding, and AI neural network processor, etc. In March 2024, SigmaStar was listed on the GEM board of the Shenzhen Stock Exchange, and has become a benchmark enterprise in the field of AI chips.

Milestones

1. Start-up phase (2017-2018)
   • In December 2017, the company was formally established to focus on the research and development of intelligent vision processing chips.
   • In 2018, four AI chips were launched, covering intelligent community access control, video surveillance and other fields, and the market share climbed rapidly.
2. Technological Breakthroughs and Market Expansion (2019-2021)
   • In 2019, it released three series of chips, Regulus, Yue Ying and Descending Dragon, and was recognized as a national high-tech enterprise.
   • In 2021, the global IPC SoC market share amounted to 36.5%, NVR SoC market share amounted to 38.7%, and USB video conferencing camera chip market share 51.8%, which are all ranked first in the industry.
3. Listing and globalization layout (2022-2025)
   • In March 2024, it was listed on the GEM board of the Shenzhen Stock Exchange and raised RMB681 million for the research and development of new-generation AI chips.
   • In 2025, the H-share listing plan will be launched, and it is proposed to be listed on the Hong Kong Stock Exchange to accelerate the globalization layout.

Products & Services

SigmaStar's products cover four major fields: smart security, smart IOT, smart car and smart home, and the core products include:

1. Smart Security Chip
   • Low-power image processing chips and NVR SoC chips for public safety and consumer-grade security systems.
   • In 2024, Intelligent Security business revenue of $1.588 billion, accounting for 68.81%, is the company's first business line.
2. Smart IoT Chip
   • Covering smart home, smart office, industrial HMI and other fields, it supports multi-modal interaction.
   • In 2024, the smart IoT business accounted for 20.58% of revenue, becoming a growth engine.
3. Smart Car Chips
   • Vehicle-grade chips (e.g. SAC8542) are ISO 26262 ASIL-D certified and are used in scenarios such as ADAS, Streaming Rearview Mirror, DMS/OMS.
   • In 2024, Intelligent Vehicle business revenue was $245 million, an increase of 31.01%.
4. AI chip
   • Self-developed “All in One” AI chip SSU9386, which won the 2024 AI Innovative Product Award and is used in the field of intelligent robots.
   • Launch AI glasses chip SSC309QL in 2025, layout LIDAR processing chip and humanoid robot market.

Core Advantages

1. Technology self-research capability
   • The core IP (e.g., AI processor, codec technology) is full-stack self-developed and supports INT8/FP16 mixed-precision computing with excellent energy-efficiency ratio.
   • Reduce system complexity and cost by integrating CPU, NPU, ISP and other modules through SoC design.
2. Scenario Positioning
   • Focus on high-growth segments such as smart security, automotive, and robotics to avoid head-on competition with giants such as Nvidia and Hesse.
   • Clients cover globally recognized companies such as Microsoft, Amazon, Hikvision and others.
3. ecological coordination
   • 加入华为星闪联盟，推动Smart Terminal、物联网领域技术合作。
   • Strategic cooperation with Tianxin Nuctech to promote the landing of ADAS intelligent driving technology.
4. Cost-effective advantage
   • Competitively priced in both the consumer and commercial markets through a highly integrated design.

development prospect

1. Intelligent robotics business explodes
   • Q1 2025 shipments and revenue in the intelligent robotics segment exceeded the full year of 2024, and the share of single-quarter revenue contribution increased to more than 35%.
   • High-end robotics chips will be mass-produced in 2026, and are expected to drive full-year revenue growth of over 100%.
2. Vehicle-grade product breakthroughs
   • The SPAD-SoC chip is expected to complete vehicle specification certification by the end of 2025 and mass production in 2026. If it successfully passes the certification, it can seize the market share of 5%-8%.
   • New energy vehicle thermal management chip has entered BYD supply chain, 2025 related revenue is expected to reach 300 million yuan.
3. Technology Iteration and Market Expansion
   • It plans to invest 1.5 billion yuan in R&D over the next three years, focusing on breakthroughs in areas such as L4-level autonomous driving chips and special chips for humanoid robots.
   • Launched H-share listing to build a dual-cycle pattern at home and abroad and accelerate the globalization layout.
4. Risks and challenges
   • Increased market competition: Nvidia, Anba and other giants dominate the high-end market, and the pressure to catch up with technology persists.
   • Technology Iteration Risk: The semiconductor industry is rapidly updating, and there is uncertainty as to whether R&D investment can be transformed into effective results.