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【Chemical machinery and equipment network market analysis】Smart chips are an important part of smart meters, and because the power system is closely related to national security, the localization of chip products in smart meters is also very important
.
Therefore, smart meter-related chips have become part of the domestic semiconductor companies to make efforts to track, smart chips mainly include energy metering chips, smart meter MCUs and carrier communication chips, etc.
, this article mainly around the metering chip and MCU chip introduction
.
.
Therefore, smart meter-related chips have become part of the domestic semiconductor companies to make efforts to track, smart chips mainly include energy metering chips, smart meter MCUs and carrier communication chips, etc.
, this article mainly around the metering chip and MCU chip introduction
.
Metrology chips
What is a metering chip?
The energy metering chip realizes the measurement of energy data based on microelectronic circuits in smart meters, and is mainly used for the measurement of electricity information of industrial and household electricity users
.
The metering chip is the core component of the smart grid power information metering system, and the most basic function is to measure electricity consumption, power, effective current and effective voltage, which is the most basic measurement function
of the metering chip.
In addition to the basic measurement functions, some metering chips can also measure power factors, linear frequency of mains, phase angle, zero crossing point, apparent power and other parameters
.
The metering chip is directly related to the measurement accuracy, working reliability, stability and other product quality of the energy meter, and its product consumption is highly matched with the market scale of the downstream smart meter industry:
.
The metering chip is the core component of the smart grid power information metering system, and the most basic function is to measure electricity consumption, power, effective current and effective voltage, which is the most basic measurement function
of the metering chip.
In addition to the basic measurement functions, some metering chips can also measure power factors, linear frequency of mains, phase angle, zero crossing point, apparent power and other parameters
.
The metering chip is directly related to the measurement accuracy, working reliability, stability and other product quality of the energy meter, and its product consumption is highly matched with the market scale of the downstream smart meter industry:
In terms of accuracy, the energy metering chip makes the measurement accuracy of the energy meter greatly improved than before, and can accurately measure electricity consumption under complex and harsh application conditions;
In terms of reliability, the energy metering chip should be able to ensure that the measurement accuracy is stable for a long time, and is not affected by installation and transportation;
In terms of application, the functional integration of the energy metering chip can realize multiple functions
such as centralized meter reading, multi-rate, prepayment, anti-theft, and two-way metering.
such as centralized meter reading, multi-rate, prepayment, anti-theft, and two-way metering.
Market for measurement chips
Energy metering chip products mainly include three-phase energy metering chips, single-phase energy metering chips, and single-phase watt-hour meter SoC chips
.
.
Major foreign manufacturers of single- and three-phase metrology chips include ADI, TDK, Atmel, and Cirrus Logic; Domestic companies include Fudan Microelectric, Shanghai Beiling (Ruineng Micro), Juquan Optoelectronics, etc.
, basically occupy most of the domestic market share, among which, Shanghai Beiling, Moment Spring Optoelectronics ranks one or two in the market share
.
, basically occupy most of the domestic market share, among which, Shanghai Beiling, Moment Spring Optoelectronics ranks one or two in the market share
.
SoC chip is based on single-phase energy metering chip, through the integration of MCU chip, clock chip (RTC) and other related modules, can provide a complete smart meter chip solution, effectively reduce the chip cost
of smart meter.
With a metering unit integrated into the SoC, this single-chip SoC solution will have a higher
cost advantage.
Juquan Optoelectronics, Shanghai Beiling and Zhixinwei ranked first, second and third
in market share respectively.
Overseas exports are still dominated by single-chip SoCs; In the single-phase SoC chip market, Juquan Optoelectronics continues to encroach on the market space of Texas Instruments, Silicon Jet, and Renesas Electronics, and its market share has gradually reached the first
place in the export market.
of smart meter.
With a metering unit integrated into the SoC, this single-chip SoC solution will have a higher
cost advantage.
Juquan Optoelectronics, Shanghai Beiling and Zhixinwei ranked first, second and third
in market share respectively.
Overseas exports are still dominated by single-chip SoCs; In the single-phase SoC chip market, Juquan Optoelectronics continues to encroach on the market space of Texas Instruments, Silicon Jet, and Renesas Electronics, and its market share has gradually reached the first
place in the export market.
MCU
The rise of the Internet of Things has brought more application fields and richer terminal scenarios for MCU products, and the huge downstream market demand has provided strong support for the steady growth of the MCU industry, smart meter MCU is a subdivision of MCU, is the main control core chip in the energy meter, in the smart meter to play the function of control, coordination and scheduling, so there are high reliability requirements, must meet the industrial-grade temperature range -40-85 °C, Support 1.
8-5.
5V wide voltage operation, not less than 10 years of long-term stable operation
.
With the implementation of the new generation of smart meter technical specifications, smart meters will further put forward higher requirements for the speed, computing power, storage capacity and working life of the main control MCU, and the corresponding process technology is also shifting
to embedded flash memory processes of 55nm and below.
8-5.
5V wide voltage operation, not less than 10 years of long-term stable operation
.
With the implementation of the new generation of smart meter technical specifications, smart meters will further put forward higher requirements for the speed, computing power, storage capacity and working life of the main control MCU, and the corresponding process technology is also shifting
to embedded flash memory processes of 55nm and below.
The market for MCUs
In the domestic smart meter MCU market, the market originally occupied by Renesas Electronics, OKI, and ST is dominated by domestic companies represented by Fudan Microelectric
.
At present, Fudan Microelectric, Moment Spring Optoelectronics and Shanghai Beiling rank first, second and third
in market share respectively.
.
At present, Fudan Microelectric, Moment Spring Optoelectronics and Shanghai Beiling rank first, second and third
in market share respectively.
Market situation of energy meter (metering/MCU) chip companies
Affected by the rise in chip prices, energy metering chips rose from 2.
31 yuan to 3.
45 yuan each, an increase of 50%; Smart MCU chips rose from 3.
26 yuan to 4.
01 yuan
each.
31 yuan to 3.
45 yuan each, an increase of 50%; Smart MCU chips rose from 3.
26 yuan to 4.
01 yuan
each.
Shanghai Belling(600171)
According to Shanghai Beiling's 2021 annual report, the net profit attributable to shareholders of the listed company in 2019, 2020 and 2021, net of non-recurring profits and losses, was 13.
23 million yuan, 177.
32 million yuan and 397.
73 million yuan respectively
.
The weighted average return on equity after deducting non-recurring gains and losses was 4.
22%, 5.
59% and 11.
08%
in 2019, 2020 and 2021, respectively.
Shenzhen Ruineng Micro is a subsidiary of Shanghai Beiling mainly engaged in power metering chips, the company's revenue in 2019-2020 is 180 million yuan and 166 million yuan, respectively, 2021 is not disclosed
.
23 million yuan, 177.
32 million yuan and 397.
73 million yuan respectively
.
The weighted average return on equity after deducting non-recurring gains and losses was 4.
22%, 5.
59% and 11.
08%
in 2019, 2020 and 2021, respectively.
Shenzhen Ruineng Micro is a subsidiary of Shanghai Beiling mainly engaged in power metering chips, the company's revenue in 2019-2020 is 180 million yuan and 166 million yuan, respectively, 2021 is not disclosed
.
During the 2021 reporting period, Shanghai Beiling's metering core SoC chips for IoT meters (multi-core solutions) and the metering chips in the 2021 version upgrade table have completed a comprehensive layout, and the company still occupies the largest share
of the unified recruitment market in the completed inspection table.
In April 2021, Shanghai Beiling occupied the largest market share in the State Grid IoT meter pilot tender, and the metering core SoC has achieved mass shipment
.
In addition, the overseas market of smart meters is in a stage of rapid development, and export orders soared in 2021, and the sales volume of single-phase SoC chips for smart energy meters in the overseas market of Shanghai Beiling hit a record high
.
of the unified recruitment market in the completed inspection table.
In April 2021, Shanghai Beiling occupied the largest market share in the State Grid IoT meter pilot tender, and the metering core SoC has achieved mass shipment
.
In addition, the overseas market of smart meters is in a stage of rapid development, and export orders soared in 2021, and the sales volume of single-phase SoC chips for smart energy meters in the overseas market of Shanghai Beiling hit a record high
.
During the reporting period, Shanghai Beiling successfully developed an integrated metering core SoC IoT meter solution of IR46 metering chip + metering MCU to achieve batch shipment
.
On the basis of Shanghai Beiling's mature metering chip technology, to support the "urban digitalization" and dual-carbon strategy as an opportunity, the relevant technology will be extended to charging piles, smart homes, data centers and other fields, so that the energy consumption of charging piles, data centers and other power consumption places can be measured, the use is safer, and multi-channel AC and DC metering products are mass-produced and sold
in Internet of Things applications.
For the application of charging piles, Shanghai Belling has carried out the research and reserve of DC measurement technology to meet the needs of high-precision DC measurement; The research and development of Shanghai Beiling isolation products is ongoing
.
.
On the basis of Shanghai Beiling's mature metering chip technology, to support the "urban digitalization" and dual-carbon strategy as an opportunity, the relevant technology will be extended to charging piles, smart homes, data centers and other fields, so that the energy consumption of charging piles, data centers and other power consumption places can be measured, the use is safer, and multi-channel AC and DC metering products are mass-produced and sold
in Internet of Things applications.
For the application of charging piles, Shanghai Belling has carried out the research and reserve of DC measurement technology to meet the needs of high-precision DC measurement; The research and development of Shanghai Beiling isolation products is ongoing
.
Juquan Optoelectronics (835933)
Juquan Optoelectronics was approved/registered on August 1, 2022 and listed on the Science and Technology Innovation Board, Juquan Optoelectronics' chips are divided into three categories: metering chips, MCU chips, carrier and related chips, with an operating income of about 499 million yuan and a net profit of about 101 million yuan
in 2021 。 From 2019 to 2021, the sales volume of metering chips increased from 66.
02 million to 74.
9 million, the amount increased to 259 million yuan, of which three-phase electrometering chips are the main source of revenue for Juquan Optoelectronics, with revenue of 61.
62 million yuan, 103 million yuan and 133 million yuan in the past three years, accounting for 20.
53%, 27.
13% and 26.
69% of the revenue, respectively; MCU chip sales increased from 29.
24 million to 34.
84 million, increasing to 138 million yuan, and carrier and related chip sales increased from 7.
29 million to 14.
4 million, increasing the amount to 90.
09 million yuan
.
in 2021 。 From 2019 to 2021, the sales volume of metering chips increased from 66.
02 million to 74.
9 million, the amount increased to 259 million yuan, of which three-phase electrometering chips are the main source of revenue for Juquan Optoelectronics, with revenue of 61.
62 million yuan, 103 million yuan and 133 million yuan in the past three years, accounting for 20.
53%, 27.
13% and 26.
69% of the revenue, respectively; MCU chip sales increased from 29.
24 million to 34.
84 million, increasing to 138 million yuan, and carrier and related chip sales increased from 7.
29 million to 14.
4 million, increasing the amount to 90.
09 million yuan
.
Juquan Optoelectronics multi-product line gradually completed import substitution and occupied the main market position, three-phase metering chip shipments ranked first in the domestic unified recruitment market for many years, single-phase SoC chips ranked first in the export market, single-phase metering chips and smart meter MCU chips ranked second in the domestic unified recruitment market; The high-speed carrier communication chip has obtained the first batch of certification from the State Grid and obtained the chip-level interconnection inspection report
.
The company has supplied more than 300 million chips, covering more than 200 million power grid terminal equipment based on smart meters, which has been widely recognized
by energy meter manufacturers and power grid enterprises.
The compound growth rate of operating income in the past three years is 28.
98%.
.
The company has supplied more than 300 million chips, covering more than 200 million power grid terminal equipment based on smart meters, which has been widely recognized
by energy meter manufacturers and power grid enterprises.
The compound growth rate of operating income in the past three years is 28.
98%.
Fudan Microelectric(688385)
Fudan Micro Electric Smart Meter Product Line already has FM330x/331x/33A0xx/33A0xxB series smart meter MCU chips, FM3316/3313/3312, FM33A0xx/33G0xx series ultra-low-power MCU chips, as well as FM38025T high-precision real-time clock chips, FM320x series power carrier chips, MCU core series products cover from 8-bit computer, 16-bit computer to 32-bit ARM Cortex M0+ platform, with embedded storage capacity from 64K to the highest 512K, realizes the platformization and serialization of products, and is widely used in smart grid, smart three meters, smart street lamp, smart home, health care and other applications
.
.
The 2021 annual report shows that Fudan Micro Electric achieved an operating income of about 2.
577 billion yuan, an increase of 52.
42% over the same period of the previous year; The net profit attributable to shareholders of the listed company was about 514 million yuan, an increase of 287.
20% over the same period of the previous year; The revenue of smart meter chips was about 296 million yuan, an increase of 64.
18%
over the same period.
Fudan Microelectric MCU chips have shipped more than 500 million pieces, of which more than 400 million smart meter MCUs have been shipped, ranking first
in the market share of single-phase smart meter MCUs in the State Grid.
577 billion yuan, an increase of 52.
42% over the same period of the previous year; The net profit attributable to shareholders of the listed company was about 514 million yuan, an increase of 287.
20% over the same period of the previous year; The revenue of smart meter chips was about 296 million yuan, an increase of 64.
18%
over the same period.
Fudan Microelectric MCU chips have shipped more than 500 million pieces, of which more than 400 million smart meter MCUs have been shipped, ranking first
in the market share of single-phase smart meter MCUs in the State Grid.
During the reporting period of the 2022 half-year report, Fudan Microelectronics achieved operating income of about 1.
702 billion yuan, an increase of 50.
83% over the same period of the previous year; The smart meter product line achieved sales revenue of approximately 276 million yuan
.
During the reporting period, the sales of smart meters: category products increased by 177.
86% compared with the same period last year, due to the improvement of the supply chain, the overall sales volume increased compared with the same period last year, thanks to the mass production of new products, price adjustments and the high market share of MCU chips for smart meters, so that the overall sales and gross profit of this category achieved considerable performance
.
702 billion yuan, an increase of 50.
83% over the same period of the previous year; The smart meter product line achieved sales revenue of approximately 276 million yuan
.
During the reporting period, the sales of smart meters: category products increased by 177.
86% compared with the same period last year, due to the improvement of the supply chain, the overall sales volume increased compared with the same period last year, thanks to the mass production of new products, price adjustments and the high market share of MCU chips for smart meters, so that the overall sales and gross profit of this category achieved considerable performance
.
The future of metering chips and MCUs in the smart meter market
Market characteristics
In 2022, the MCU market is moving from general growth to differentiation, and smart meter chips belong to specific segments, but the domestic market sales are greatly affected by the bidding plans of the State Grid and the South Grid
.
.
Metrology chips
In the process of China's strong smart grid construction, as the requirements of smart grids for the comprehensive functions of meter terminals are further improved, higher computing power, more memory, more I/O are required to support peripheral devices, and with the further maturity of domestic manufacturers' technology, single-function metering chips will be gradually replaced
by SoC chips that integrate MCUs and other functions.
As a result, vendors with SoC design capabilities will gain new opportunities
in the market.
by SoC chips that integrate MCUs and other functions.
As a result, vendors with SoC design capabilities will gain new opportunities
in the market.
In addition, with the development of the Internet of Things, the rise of new energy, clean energy and DC transmission technology, the demand for DC metering functions in the downstream market is increasing, and manufacturers will gain new market space
in the field of DC metering chips.
DC metering chips are used in charging piles, intelligent traffic lights and other products
.
in the field of DC metering chips.
DC metering chips are used in charging piles, intelligent traffic lights and other products
.
MCU
State Grid and South Grid are actively studying the technology, functions and standards of the next generation of smart meters under the framework of IR46, which is recommended by the International Recommendation for Energy Meters
.
According to IR46 requirements, the legal metering function and management function of smart meters need to be physically separated, that is, the "dual-core" smart meter design mode
.
In the future, with the gradual promotion of the next generation of smart meters in the State Grid and South Grid systems, the smart meter solution will undergo essential changes
.
In the "dual-core" smart meter mode, the original single MCU system will be divided into dual MCU systems, and the corresponding smart meter MCU demand will increase significantly, and the corresponding smart meter MCU manufacturers will also usher in a period of rising performance
.
.
According to IR46 requirements, the legal metering function and management function of smart meters need to be physically separated, that is, the "dual-core" smart meter design mode
.
In the future, with the gradual promotion of the next generation of smart meters in the State Grid and South Grid systems, the smart meter solution will undergo essential changes
.
In the "dual-core" smart meter mode, the original single MCU system will be divided into dual MCU systems, and the corresponding smart meter MCU demand will increase significantly, and the corresponding smart meter MCU manufacturers will also usher in a period of rising performance
.
Original: Domestic chip big track? Look at the smart meter metering/MCU chip market and listed company analysis!
Article link: Meter Network
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