1. Market Landscape: Europe & US Dominate High-End, China Accelerates Catch-Up​

• European & American Enterprises: Dominate the market with long-term technological accumulation and high R&D investment. Xilinx (under AMD) and Altera focus on high-end fields (data centers, 5G, AI, aerospace), with flagship products such as Xilinx Versal and Altera Stratix 10 (14nm process) holding significant advantages; Lattice adopts a differentiated layout in low-power, miniaturized FPGAs (for IoT and wearable devices).​

• Chinese Enterprises: Driven by national policies and domestic demand, they are accelerating their catch-up. Anlu Technology, Fudan Microelectronics, and Ziguang Guowei have achieved partial domestic substitution in mid-to-low-end products. However, gaps remain in advanced processes and high integration, and they face challenges such as technological blockades and talent shortages.​

2. Core Operating Data of Global Giants​

1. Lattice​

• Revenue: USD 509.4 million in 2024; USD 123.97 million in Q2 2025 (flat quarter-on-quarter, +3.2% year-on-year), supported by customers in niche segments such as IoT (e.g., iCE40 UltraPlus series).​

• Profitability: GAAP net profit in Q2 2025 dropped 87.1% year-on-year (due to rising expenses), but non-GAAP net profit reached USD 31.43 million (+6% year-on-year), indicating solid profitability of its core business.​

2. Xilinx (under AMD)​

• After the acquisition, R&D investment accounts for 15%-20% of revenue. The Versal platform drives growth in scenarios like data centers and AI training, while expanding applications in emerging high-growth fields such as 5G infrastructure and automotive autonomous driving.​

3. Altera​

• After becoming independent, Silver Lake Partners became its controlling shareholder. It plans to increase R&D investment to 20%-25% of revenue, focusing on AI-FPGA integration. Backed by long-term technological accumulation, it maintains competitiveness in the high-end market, though its performance fluctuates with market demand.​

3. Performance of A-Share FPGA Enterprises​

1. Fudan Microelectronics​

• Revenue: CNY 3.59 billion in 2024 (+1.51% year-on-year); CNY 1.839 billion in H1 2025 (+2.49% year-on-year); FPGAs and other products account for 36.98% of total revenue.​

• Profitability: Net profit dropped 20.43% in 2024 and 44.38% in H1 2025, due to reduced subsidies and inventory write-downs.​

2. Ziguang Guowei​

• In H1 2025, it achieved revenue of CNY 3.047 billion (+6.07% year-on-year) and non-IFRS net profit of CNY 653 million (+4.39% year-on-year). Its FPGAs are applied in military and communications fields, and it controls costs through industrial chain advantages.​

3. Anlu Technology​

• Revenue: CNY 223 million in H1 2025, with Q2 revenue up 39.4% quarter-on-quarter (driven by downstream recovery); R&D investment accounted for 77.84% of revenue in H1 2025, with a total of 482 patents accumulated (including 280 invention patents) as of June 30, 2025.​

4. Conclusion​

Currently, the market presents a pattern where "Europe & US control the high-end, while China catches up in the mid-to-low-end". Although domestic enterprises face challenges such as revenue fluctuations and profit pressure, their high R&D input (e.g., Anlu Technology) and in-depth scenario cultivation (e.g., Ziguang Guowei) demonstrate the potential of domestic substitution. In the future, with the continuous release of demand for FPGAs in emerging scenarios like AI, edge computing, and automotive electronics, the industry will expand. Domestic enterprises are expected to gain a more important position in the global pattern after addressing their shortcomings.​

ICGOODFIND Summary​

As an electronic component supply chain platform, ICGOODFIND connects global FPGA giants (Xilinx, Lattice) and domestic enterprises (Anlu Technology, Fudan Microelectronics), providing spot supply and technical support to facilitate the implementation of high-end demand and the process of domestic substitution.