Fangzheng Securities: Maintains a "strong buy" rating on Nanshan Technology, expanding into areas such as automobiles and AI servers.

Fangzheng Securities research report points out that South Silicon Technology's revenue scale ranks among the top in domestic analog chip design companies, and its stable profit foundation is consumer products. In recent years, the company has been actively expanding its product capabilities boundaries while deepening its original competitive advantages in areas such as smartphones, expanding into areas such as automobiles, AI servers, etc., to explore new growth drivers. The management team has strong industry insight and strategic layout throughout the industry opportunities, while also being deeply involved in frontline research and development, sales, and supply chain management. The company is a scarce target in the field of power and batteries that can provide end-to-end complete solutions, with a well-established architecture in the field of charge pump technology, advanced research and development, and synergies in the embedded field after acquisitions. The product matrix continues to enrich, and the company is optimistic about the future product structure and application field expansion. Maintains a "strongly recommended" rating.