On February 2023, 2, Shenzhen Fushi Technology Co., Ltd. (hereinafter referred to as "Fushi Technology") has just received strategic investment from Ruicheng Fund and Pilot Industry Investment (Suzhou Intelligent Vehicle Networking Fund), a subsidiary of Chery Group. Prior to this, the company has obtained investment from industrial investors such as BAIC Production and Investment, Huiyou Capital and Shenzhen Heavy Investment.

Founded in 2017, headquartered in Shenzhen, China, Fushi Technology is an integrated circuit design enterprise, a national high-tech enterprise, and a Guangdong Human-Computer Interaction Sensor Engineering Technology Research Center, focusing on the R&D and design of intelligent sensors and processor chips and the development of supporting algorithms, and is committed to promoting the intelligent upgrading of human-computer interaction technology. Since 2019, Fushi Technology has invested a lot of manpower and material resources to develop dToF related products based on SPAD, and focused on applying dToF technology to the field of lidar. At present, it has mass-produced dToF ranging chips and single-line lidar SPAD chips, supplied SiPM chips in small quantities, and is developing a variety of area array and line array SPAD lidar chips. The all-solid-state lidar receiver chip developed by the company has the characteristics of stable performance, high resolution and low cost, which can be applied to vehicle-mounted blinding lidar, and Fushi Technology has reached strategic cooperation with a number of upstream and downstream industry partners.

 

 

In terms of team personnel, Fushi Technology currently has a R&D team of more than 150 people, including Shenzhen local leading talents and many Shenzhen peacock talents. In addition, the company has also established a joint laboratory with Huake University, joint technology development with Tsinghua, and long-term cooperation with leading manufacturers including car companies to develop and develop, and strive to create a full-stack R&D of automotive-grade lidar chips.

 

In terms of product technology, the company focuses on advanced technology routes such as SPAD, SiPM, OPA, etc., takes the lead in realizing the mass production of SPAD in China, fills the gap of domestic automotive-grade LiDAR core SPAD chips, and lays a solid customer base in 2022, has established cooperation with dozens of customers mainly LiDAR manufacturers, and has begun batch delivery.

In addition to the fields of surveying and unmanned driving, including advanced assisted driving represented by automobile manufacturers and Tier1, obstacle avoidance navigation systems represented by intelligent service robots, and the application of Internet of Vehicles with the gradual popularization of 5G technology, all of which have brought a broader market to LiDAR. According to Sullivan's forecast, with the continuous expansion of downstream applications, the overall market size of lidar has grown rapidly from only $2019 million in 6 to $8.2025 billion in 135, with a CAGR from 4 to 2019Up to 2025.64%. Among them, the automotive field (advanced assisted driving and unmanned driving) will become the most important downstream application market for LiDAR.

 

 

Based on the previous reasonable assumptions and forecasts on indicators such as the penetration rate of autonomous driving at various levels and the average unit price of vehicle-mounted lidar, we calculate the scale of China's passenger car lidar market from 2021 to 2030. According to estimates, we expect that the size of China's passenger car lidar market will grow rapidly from 2021 million yuan in 5 alone to 6.2025 billion yuan in 106 and 7.2030 billion yuan in 759, with a CAGR of 2.2021% from 2030 to 72.

 

 

The investment research team of Xinhenglida believes that under the background of the rapid development of the automotive intelligent industry in the second half, automotive lidar and upstream components are the development focus of the intelligent driving industry, and lidar will benefit first in the wave of intelligent driving with its unique advantages such as reliability. At the same time, in the fields of vehicle-road coordination, surveying and mapping, various robots, mobile phones and consumer electronics, LiDAR/dToF has increasingly become an important sensor.