Research Express | Fudan Microelectronics Hosts 15 Institutions Including GF Fund; FPGA Technology Leadership and Supply Chain Stability Draw Attention

Recently, Fudan Microelectronics (Stock Code: 688385) conducted targeted investor research activities from March 10 to 13, 2026, in Shanghai and Shenzhen. Participating institutions included GF Fund, Zhongtai Securities, Galaxy Fund, and 12 others. Company Chairman and General Manager Zhang Wei, Executive Director and Executive Vice President Shen Lei, and other core management team members attended the event, engaging in detailed discussions on FPGA business development, supply chain stability, and medium- to long-term strategies.

FPGA Business: Technological Breakthroughs Drive Steady Growth

During the research, institutions focused on the company’s technological leadership and growth potential in FPGA. The company stated that, as a leading domestic FPGA chip supplier, it leverages Fudan University’s strengths in integrated circuits and scientific research to build a complete innovation chain from basic research to engineering and industrialization. Technologically, the company has developed China’s first billion-gate FPGA, the first heterogeneous fusion billion-gate PSoC chip, and reconfigurable chips FPAI (FPGA+AI) for AI applications. Products cover communications, AI, industrial control, signal processing, and other fields.

In terms of performance, the FPGA product line has broken through key technologies such as ultra-large-scale FPGA architecture and programmable device compilers. The heterogeneous fusion architecture chips integrate CPU, FPGA, and NPU, with product series ranging from 4 TOPS to 128 TOPS, offering FPGA+SoC+NPU architectures and comprehensive edge AI solutions. In 2025, the company focused on billion-gate FPGA and PSoC chips, promoting applications in communications, industrial, and high-reliability fields. It also accelerated customer adoption and mass production of ultra-large-scale FPGA, RF-FPGA, and RFSoC products based on 1xnm FinFET process and 2.5D advanced packaging, driving steady revenue growth in this segment.

Supply Chain and Strategy: Diversified Layouts Ensure Stability, Focus on Core Business to Enhance Competitiveness

Regarding supply chain stability, the company responded that current capacity for main products meets customer demand, with overall delivery stable. In 2026, the company plans to enhance supply capabilities for new-generation process FPGA, PSoC, and FPAI products. Considering the current international trade environment, it will continue to build a diversified supply system, strengthen supply chain resilience, and ensure continuous and stable product supply.

For medium- and long-term development strategies, the company clarified that it will always focus on IC design as its main business, using platform-based operations as the framework, core technologies as the foundation, and continuous innovation as the engine. It aims to develop high-end general-purpose chips and specialized chips, striving to become a leading domestic chip design company with strong technological moat, market influence, and industry impact. Future efforts will include consolidating advantages in technology, service, quality, and branding, advancing institutional reforms, stimulating innovation, and achieving sustained, rapid, high-quality growth.

Team Incentives and Financial Outlook: Binding Core Talent, No Large Impairments in Q1

Regarding core team incentives, the company stated that key talent is the foundation of long-term competitiveness. It will continue to improve employee training programs and growth pathways, establish competitive compensation systems, and implement equity incentives at appropriate times to deeply align employee, company, and shareholder interests, supporting long-term development.

Financially, institutions asked whether there would be significant impairments in Q1 2026. The company responded that there would not be, as it had already made sufficient inventory impairments in 2025 according to accounting standards, accurately reflecting inventory conditions.

The company also noted that more details of the research can be found in the “Investor Relations Activity Records” published on the Shanghai Stock Exchange E-Interaction platform under the “Listed Company Announcements” section.

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