Recently, Goertek Microelectronics Co., Ltd. (hereinafter referred to as Goertek Microelectronics) submitted a prospectus to the Hong Kong Stock Exchange, intending to be listed on the main board of Hong Kong. It is reported that CICC, CITIC Securities International, CMB International and UBS Group are the joint sponsors.
Cumulative shipments of sensors exceed 4 billion
Goertek is the only entity in the Goertek system that focuses on microelectronics business. Previously, as a business unit of Goertek, it started the research and development of MEMS technology.
Since 2017, Goertek has officially started its business as an independent entity. The company has created a one-stop intelligent sensor interaction platform UniSense, covering all key links in the industry value chain from material research and development to chip design, packaging testing, algorithm software development and system design. With its vertical integration capabilities, Goertek provides customers with a full range of product solutions of "chips + devices + modules".
According to the prospectus, as of September 30, 2024, the company has more than 400 solutions, which are widely used in about 30 smart terminals such as smartphones, smart headphones, VR/AR devices, smart cars and smart homes, and has served 113 direct sales customers worldwide, covering the world's top nine mobile phone manufacturers (based on shipments in 2023) and leading manufacturers in automotive electronics, smart homes, industrial applications and medical fields.
In fact, Goertek Co., Ltd. had issued an announcement as early as November 2020, planning to spin off Goertek Microelectronics to the Shenzhen Stock Exchange's Growth Enterprise Market for listing. However, in March 2022, affected by the epidemic, Goertek Microelectronics and its sponsor took the initiative to apply to suspend the issuance and listing review procedures. Although Goertek's initial public offering application passed the review of the Growth Enterprise Market Listing Committee in October 2022, it was not until June 2023 that the Shenzhen Stock Exchange resumed its issuance and listing review.
In May 2024, Goertek's board of directors decided to terminate the spin-off of Goertek Microelectronics to the Growth Enterprise Market and withdraw the relevant listing application documents. The Shenzhen Stock Exchange also subsequently terminated its issuance and listing review. As for the reason for the termination of listing, Goertek Co., Ltd. stated that it was based on a comprehensive consideration of factors such as the market environment. In addition, Goertek Microelectronics' performance in the first half of 2023 declined, with operating income down 15.77% year-on-year and net profit attributable to shareholders down 38.39% year-on-year, which may also have an impact on its listing process.
It is worth noting that Goertek Microelectronics submitted its listing application to the Hong Kong Stock Exchange in January 2025, with CICC, CICC International, CMB International and UBS Group as joint sponsors.
Global sensor shipments may grow to 22.9 billion in 2028
From 2020 to 2023, affected by the epidemic and global maritime trade, global sensor shipments fluctuated, but overall showed an upward trend. Global sensor shipments increased from 13.5 billion to 15.1 billion, with a compound annual growth rate of 3.7%. In the future, global sensor shipments will further increase to 22.9 billion in 2028, with a compound annual growth rate of 8.7% from 2023 to 2028. In 2023, acoustic sensors accounted for 37.8% of all sensor shipments. With the growing demand for high-quality audio interaction functions, acoustic sensors will maintain their important market position in the long term.
In 2022, 2023 and the nine months ending September 30, 2024, Goertek Microelectronics' revenue was approximately RMB 3.121 billion, RMB 3.001 billion and RMB 3.266 billion, respectively; the profits in the same period were approximately RMB 326 million, RMB 289 million and RMB 243 million, respectively.
So, what technological breakthroughs has Goertek Microelectronics made in the field of MEMS sensors?
According to Core Sensor, the following are its main progress:
· High-performance MEMS acoustic sensors
Goertek's S32 series of high-performance MEMS acoustic sensors have industry-leading audio performance. With a signal-to-noise ratio of up to 72dB, it can achieve high-definition recording at the studio level and greatly improve the ability to capture weak and long-distance sound signals. In addition, the sensor also supports multi-microphone array applications, optimizing functions such as intelligent sound processing, noise cancellation, sound enhancement and sound positioning.
·Innovative acoustic sensor packaging technology
Goertek has developed an anti-airflow/mechanical impact solution, which significantly improves the durability of the sensor in extreme environments by adding a protective barrier between the chip and the PCB. In addition, its IPX8 waterproof MEMS acoustic sensor maintains the consistency of acoustic performance while ensuring the waterproof effect, which helps the waterproof and dustproof design of VR/AR devices.
·AI intelligent acoustic sensor
Goertek integrates voice signal acquisition and processing units into one, and develops AI intelligent acoustic sensors that support voice wake-up, voice recognition, and event monitoring, providing low-power integrated solutions.
·Application of piezoelectric ceramic technology in automotive electronics
Based on the characteristics of piezoelectric ceramics, Goertek has launched a variety of in-vehicle interactive applications, such as touch sensing of smart surfaces, touch feedback of central control panels, feedback of vehicle door handles, and ultrasonic dust removal systems. These technologies improve the intuitiveness of interaction and driving safety.
·SiP microsystem module technology
Goertek has developed a "SiP module-DCU Molding solution" by highly integrating MEMS chips, IC chips and passive devices through system-level packaging (SiP) technology, which has achieved module miniaturization and multi-functional integration, significantly reduced the size of the motherboard and reduced costs.
· Shell pressure sensing technology
Goertek has applied for a new MEMS sensor patent, which combines ultrasonic detection and stress detection, can accurately sense the degree of shell pressure, and reduce detection anomalies caused by false touches.
This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)
