Memory chip manufacturer Puran is about to land on the Kechuang board!

On August 2, Pulan Semiconductor (Shanghai) Co., Ltd. (referred to as "Puran shares") officially launched its offering on the Shanghai Stock Exchange Kechuang Board. It can be predicted that the future development of Pran shares will be wider and wider with the blessing of capital.

Compared with many companies, Pran shares has not been established for a long time. It has been established for only five and a half years since January 2016. What I am concerned about is why Pran shares have completed the transformation from a start-up to a listed company in such a short time.

The cornerstone of the development of R & D strength

The data show that Pran's main business includes the design and sale of non-volatile memory chips, and its products are mainly non-volatile memory chips of NOR Flash and EEPROM, which can be widely used in mobile phones, computers, network communications, home appliances, industrial control, automotive electronics, wearable devices and the Internet of things.

Looking back over the past five years, the growth of Pran shares is like a process of gathering sand into a tower. Its accumulation and layout in technological research and development, talent training and intellectual property rights is the most solid bottom of this tower.

According to the prospectus, Pran's R & D investment in 2018, 2019 and 2020 was 13.4579 million yuan, 31.1411 million yuan and 45.9715 million yuan respectively, accounting for 7.20% of the company's cumulative operating income in the reporting period.

It is obvious that R & D plays a vital role in the growth of Puran shares.

Through Pran's product upgrade process, on the one hand, based on ETOX process and combined with the existing low-power technology system, the company has launched large-capacity NOR Flash R & D and design, maintaining low-power product characteristics and optimized chip area, and is expected to achieve mass production of multiple products in 2021 and complete mass production of the entire product line in 2022.

Not only that, Pran is also one of the few enterprises in the market that can use the SONOS process platform to complete the R & D and design of NOR Flash memory chips.

It is understood that Pran applied the SONOS process of charge capture technology to the R & D and design of NOR Flash, and jointly developed and optimized NOR Flash chips with 55nm NOR Flash process with wafer factories, making the company's NOR Flash chips have the characteristics of wide voltage, ultra-low power consumption, fast erasing and high performance-to-price ratio, as well as leading cost advantages.

On the other hand, Pran also optimized the manufacturing process under the 130nm process in conjunction with the wafer factory, reformed and optimized the structure of the memory cell and erase voltage, effectively reduced the area of the EEPROM chip and effectively reduced the unit cost of the chip on the premise of ensuring reliability.

Thanks to the advantages of the company's 0.13um/1.01um2-shrink 2Kbit EEPROM in chip area, reliability and unit cost, it fully meets the performance requirements of mobile camera modules for EEPROM products. 16Kbit-128Kbit EERPOM, which is mainly used in the mobile camera field, has become an important pillar of the company's EEPROM business revenue, accounting for 87.84% and 87.70% of the current EEPROM revenue in 2019 and 2020, respectively. Show high market competitiveness.

Accelerate to the "spire"

The cornerstone of development through R & D strength and high-quality products has also accumulated good recognition of Puran's two major product lines in downstream customers.

It is reported that in the NOR Flash business, Pran has established stable business relations with Huiding Technology, Hengxuan Technology, Jerry Technology, China Science and Technology Lanxun and other original manufacturers, such as Shentianma, Helitai, Huaxing Optoelectronics and other mobile phone screen manufacturers, and the products are used in Samsung, OPPO, vivo, Huawei, Xiaomi, Lenovo, Hewlett-Packard and other brand manufacturers.

In terms of EEPROM business, leading mobile camera module manufacturers such as Shunyu, Oufeiguang, Qiu Ti, Xinli, Helitai, Samsung Motor, Sanxing and Shengtai, as well as ODM manufacturers such as Wentai Technology, Huaqin Communications, Longqi Technology, have formed a stable cooperative relationship with Puran, and their products are widely used in the terminal products of well-known manufacturers such as OPPO, vivo, Huawei, Xiaomi, Midea and so on.

However, Pran is not satisfied with this, and from its fundraising project planning, the company is speeding up the upgrade of flash chips and the iteration of EEPROM chips, which will further consolidate its leading position in the segment field.

According to public data, the Puran landing company plans to invest the funds raised in flash chip upgrade R & D and industrialization projects, EEPROM chip upgrade R & D and industrialization projects and headquarters base and cutting-edge technology R & D projects.

It is reported that the products of this project will be used in the Internet of things, Bluetooth, smart wearable devices, fingerprint identification, smart home, smart phones and other fields. Among them, the market scale of the Internet of things, TWS headphones and smart home market is in the stage of rapid growth in recent years, and the products used in these areas are also expected to bring new performance growth momentum to Pran.

In addition, in the EEPROM chip upgrade R & D and industrialization project, Pran will focus on the industrial and consumer grade as well as the vehicle level.

EEPROM memory chips carry out design and research, so as to realize the industrialization of the company's EEPROM memory chips in the field of multi-dimensional downstream applications.

The arrival of the 5G era has played a strong role in the development of the Internet of things, smart home, autopilot and other fields. It is worth mentioning that cameras play an extremely important role in terminal products in these emerging fields, and become the window and carrier for the realization of many new technologies, which also greatly increases the market demand for camera-related parts. Pran's comprehensive upgrade of the EEPROM product line is also more conducive to seizing the opportunities that arise in the process of demand growth.

Pran said that the company will focus on scientific and technological innovation in the field of integrated circuit design, around the field of non-volatile memory, with NOR Flash and EEPROM as the core, continue to meet customers' demand for high-performance memory chips, realize the technology accumulation of enterprises in continuous operation, and strive to become a leading provider of memory chips in the industry.