Financial Performance - Net profit attributable to shareholders of the listed company increased by 134.85% YoY to RMB 151.64 million, with non-GAAP net profit up 170.12% YoY to RMB 145.68 million[30] - Revenue for the reporting period (January 1, 2024 - June 30, 2024) was 920.21 million yuan, a 37.96% increase compared to the same period last year[53] - Net profit attributable to shareholders of the listed company was 151.64 million yuan, a 134.85% increase compared to the same period last year[53] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 145.68 million yuan, a 170.12% increase compared to the same period last year[53] - Net profit attributable to shareholders of the listed company after excluding the impact of share-based payments was 166.97 million yuan, a 117.31% increase compared to the same period last year[53] - Total assets at the end of the reporting period were 2.32 billion yuan, a 5.36% increase compared to the end of the previous year[53] - Basic earnings per share increased by 124.79% to 1.8116 yuan per share compared to the same period last year[75] - Weighted average return on equity increased by 4.48 percentage points to 7.91%[75] - Revenue for the period reached 920.2123 million yuan, a year-on-year increase of 37.96%, driven by contributions from both new and existing customers[101] - Basic earnings per share increased by 124.79%, and diluted earnings per share also increased by 124.79%, with a 4.48 percentage point increase in weighted average return on equity[109] Profitability and Margins - Gross margin remained stable with slight improvement, contributing to profit growth[30] - The company's gross margin increased slightly due to lower raw material prices, new customers with higher initial margins, increased sales of handheld miniaturized devices, and improved competitive landscape[55] - Gross profit margin increased by 2.35 percentage points, with total sales gross profit reaching 397.4968 million yuan, a year-on-year increase of 45.89%[76] - Chip gross margin rose to 49.00% in H1 2024, up from 47.51% in H1 2023[77] - Comprehensive gross margin improved to 43.20% in H1 2024 from 40.85% in H1 2023[77] - Module and development kit gross margin increased to 38.91% in H1 2024 from 37.48% in H1 2023[77] - Gross profit margin target set at 40%, with minimal pricing adjustments expected to maintain this level[103] R&D and Innovation - The company faces risks from potential delays in R&D progress[5] - R&D expenses increased by 22.73% to 218.6824 million yuan, with the number of R&D personnel growing by 14.07% to 519[78] - R&D investment accounted for 23.76% of operating income, a decrease of 2.95 percentage points compared to the same period last year[75] - The company's R&D expenses for the first half of 2024 were RMB 218.68 million, a 22.73% increase compared to the same period last year[181] - The company's R&D investment as a percentage of revenue decreased by 2.95 percentage points to 23.76% in the first half of 2024[181] - The company has accumulated 195 authorized patents and software copyrights by the end of June 2024, including 95 invention patents and 32 US patents[178] - The company's R&D direction focuses on AIoT chip development, requiring parallel hardware and software development with high technical difficulty[194] - The company has 519 R&D personnel, with 54.91% holding a master's degree and 37.96% holding a bachelor's degree[187] - 47.40% of R&D personnel are under 30 years old, and 42.58% are between 30-40 years old[187] Business Expansion and Acquisitions - The company acquired Shenzhen Mingzhan Information Technology Co., Ltd. with a 57.0956% stake on May 27, 2024[19] - The company acquired a controlling stake in M5Stack, a well-known IoT solution provider, during the reporting period[33] - Acquired majority stake in M5Stack in Q2 2024, enhancing IoT and embedded system solutions[126] Market and Industry Trends - The global smart home market is projected to reach $154.4 billion in 2024, with a compound annual growth rate of 10.67% over the next five years, reaching $231.6 billion by 2028[92] - Global semiconductor market is expected to grow by 16.0% in 2024, reaching $6,870 billion by 2025[114] - SoC market is projected to reach $214.05 billion by 2028, with a CAGR of 8.9%[116] - Statista predicts global IoT device connections will reach 18 billion in 2024, growing to 39.6 billion by 2033, with a CAGR of 9.18%. IDC estimates China's IoT connections exceeded 6.6 billion in 2023, with a 5-year CAGR of 16.4%[146] Product Development and Technology - The company's products include Wi-Fi MCU chips supporting 2.4GHz and 5GHz frequency bands[28] - The company's product lines, including ESP32-C3, ESP32-C2, and ESP32-S3, are experiencing rapid growth, contributing to overall revenue growth[101] - Company's global cumulative shipments of IoT chips exceeded 1 billion units by September 2023[124] - ESP32-S3 chip enhances edge AI applications with vector instructions for neural network acceleration[124] - ESP32-C6 chip offers 2.4GHz Wi-Fi 6 technology, targeting battery-powered applications[124] - ESP32-C5 is the company's first dual-band 2.4&5GHz Wi-Fi 6 product, expanding into video streaming markets[124] - ESP32-H2 supports IEEE 802.15.4 technology, entering Thread/Zigbee markets[124] - ESP32-H4 upgrades to Bluetooth 5.4, marking a significant breakthrough in low-power Bluetooth technology[124] - ESP32-P4 is the company's first non-wireless SoC, targeting high-performance edge computing applications[124] - The company's Wi-Fi products cover Wi-Fi 4 and Wi-Fi 6 technologies, with Wi-Fi 6E products successfully developed. Wi-Fi 6 supports large-scale IoT scenarios using OFDMA in 2.4GHz and 5GHz bands[141] - The ESP32-C5 product line integrates 2.4GHz/5GHz Wi-Fi 6 and Bluetooth 5 (LE), featuring a RISC-V 32-bit single-core processor. The ESP32-C6, a Wi-Fi 6 series product, has been mass-produced in 2023, supporting 2.4GHz Wi-Fi 6, Bluetooth 5 (LE), and Thread/Zigbee, with a RISC-V 32-bit single-core processor[141] - The company is closely monitoring the market acceptance and application demand for Wi-Fi 6 and Wi-Fi 6E products, planning product lines accordingly, and accumulating technical expertise for Wi-Fi 7 product development[141] - The company has integrated self-developed MCU architecture based on the RISC-V instruction set into its products, which is expected to gradually reduce licensing fees and ultimately lower the cost of IoT terminals. Current products include ESP32-C, ESP32-H, and ESP32-P series with RISC-V 32-bit processors, achieving up to dual-core 400 MHz[143] - The company's chip products have expanded into the Wireless SoC field, focusing on "processing + connectivity," with "processing" covering AI and RISC-V processors, and "connectivity" including Wi-Fi, Bluetooth, and Thread/Zigbee wireless communication technologies[139] - The company's RISC-V-based MCU architecture is designed to reduce licensing costs and lower IoT terminal prices, with future plans to release higher-frequency product lines based on RISC-V[143] - The company's AI compression algorithm technology enables face recognition on small chips, reducing the need for high-performance, high-memory chips and lowering costs[138] - The company's Wi-Fi Mesh networking technology supports high-bandwidth, high-transmission-rate Wi-Fi device networking[138] - The company's AIoT cloud software technology integrates with AWS serverless architecture, enabling customers to build, develop, and deploy highly secure custom AIoT solutions with minimal code[138] - The company's Wi-Fi and Bluetooth LE SoC products are expected to be the main core chips in the IoT field in the medium term, with the ESP32-H4 product already certified for Bluetooth 5.4[174] - The company has developed AI MCU and wireless connectivity integrated SoC, such as ESP32-S3, which supports offline voice wake-up/recognition technology with up to 200 offline commands[177] - The company's ESP32-S3 chip can integrate with third-party AI applications like OpenAI's ChatGPT and Baidu's "Wenxin Yiyan"[177] - The company's ESP32-P4 product also features edge AI capabilities, further enhancing its product offerings in the IoT space[177] - The company's product line has expanded from single Wi-Fi chips to include 2.4 & 5GHz Wi-Fi 6, Bluetooth, Thread/Zigbee, and future plans for Wi-Fi 6E and Wi-Fi 7[160] Operational Efficiency and Costs - Operating leverage effect emerged as expense growth was controlled below revenue growth[30] - Accounts receivable increased due to expansion of business scale and longer payment terms[8] - Share-based payment expenses for the reporting period were 15.33 million yuan, compared to 12.27 million yuan in the same period last year[56] - Sales expenses increased by 13.29% to 28.9159 million yuan, with royalty fees accounting for 42.88% of sales expenses, growing by 27.97%[104] - Operating cash flow showed a net outflow of 25.6768 million yuan, compared to a net inflow of 99.6996 million yuan in the same period last year, due to increased procurement and labor costs[107] - Non-recurring gains and losses amounted to 5.965096 million yuan, including a significant impact from government subsidies and financial asset transactions[112] Customer and Market Risks - Customer concentration risk remains a concern for the company[7] - Sales to the top 5 customers accounted for 24.96% of total revenue in the first half of 2024[196] International Operations - The company's overseas assets account for a significant portion of total assets[15] - The company's overseas revenue accounted for 74.2% of total revenue[58] Corporate Governance - The company held its 2023 annual shareholders' meeting on April 12, 2024, approving all 6 proposals[21] Business Model and Strategy - The company aims to become an IoT platform company, integrating chip hardware, software solutions, and cloud technologies to provide comprehensive AIoT products and services globally[96] - The company's B2D2B business model leverages a developer ecosystem to generate business opportunities, with developers bringing in business opportunities from their respective companies[165] - The company's cloud products have created business synergies, transitioning from hardware sales to providing hardware, software, and cloud products as a one-stop service[160] Investment Projects - Wi-Fi 6 FEM R&D and industrialization project has a total investment of 35,000.00万元, with 6,815.06万元 invested this period and a cumulative investment of 28,174.90万元, currently in the product development stage[183] - Wi-Fi EHT chip R&D project has a total investment of 24,000.00万元, with 4,086.14万元 invested this period and a cumulative investment of 24,567.97万元, already completed[183] - ESP-IDF 5X project has a total investment of 25,000.00万元, with 4,647.20万元 invested this period and a cumulative investment of 17,481.63万元, currently in the product development stage[183] - RISC-V multi-core application processor project has a total investment of 50,000.00万元, with 4,389.79万元 invested this period and a cumulative investment of 5,493.70万元, currently in the product design stage[184] - Cloud platform upgrade project has a total investment of 25,000.00万元, with 1,930.05万元 invested this period and a cumulative investment of 2,559.62万元, currently in the product design stage[184] User and Market Impact - The company's products are used by hundreds of millions of users globally for secure and stable wireless connections, voice interaction, facial recognition, and data management[192]

证券代码：688018 证券简称：乐鑫科技 公告编号：2024-052 乐鑫信息科技（上海）股份有限公司 2024 年半年度募集资金存放与使用情况专项报告 本公司及董事会全体成员保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于核准乐鑫信息科技（上海）股份有限公司公 开发行股票注册的批复》（证监许可[2019]1171 号）核准，公司 2019 年 7 月于上海 证券交易所向社会公众公开发行人民币普通股（A 股）20,000,000 股，发行价为 62.60 元/股，募集资金总额为人民币 1,252,000,000.00 元，扣除承销及保荐费用、发行登 记费以及其他交易费用共计人民币 120,347,826.56 元，募集资金净额为人民币 1,131,652,173.44 元。上述资金于 2019 年 7 月 16 日到位，已经天职国际会计师事 务所（特殊普通合伙）验证，并出具了天职业字[2019]31070 号的验资报告。后因募 集资金印花税减免 313, ...

一、本次募集资金基本情况 证券代码：688018 证券简称：乐鑫科技 公告编号：2024-051 乐鑫信息科技（上海）股份有限公司 关于首次公开发行股票部分募投项目结项 并注销募集资金专项账户的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 2024 年 7 月 29 日，乐鑫信息科技（上海）股份有限公司（以下简称"乐鑫科 技"或"公司"）召开第二届董事会第二十九次会议、第二届监事会第二十二次会 议，审议通过了《关于首次公开发行股票部分募投项目结项并注销募集资金专项 账户的议案》，保荐机构招商证券股份有限公司（以下简称"保荐机构"）对本事 项出具了明确的核查意见。具体情况如下： （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于核准乐鑫信息科技（上海）股份有限公司 公开发行股票注册的批复》（证监许可[2019]1171 号）核准，公司 2019 年 7 月 于上海证券交易所向社会公众公开发行人民币普通股（A 股）20,000,000 股，发 行价为 62.60 元/股，募集资金总额为人民币 1,25 ...

Q2 Half-Year Report 2024 Contents 03 Build Smart with Espressif 04 06 Core Technologies 07 Business Highlights 09 Management Report 22 Consolidated Financial Statements (Unaudited) 28 Further Information | 07 | Financial Indicators (Unaudited) | | --- | --- | | 08 | Financial Analysis | | 09 | Business Strategy | | 10 | Key Products - AIoT Chips | | 11 | Key Products - Chip Matrix | | 12 | Key Products - M5Stack | | | Development Kits | | 13 | Market | | 14 | Business Model | | 22 | Consolidated | | | Balan ...

证券代码：688018 证券简称：乐鑫科技 公告编号：2024-050 乐鑫信息科技（上海）股份有限公司 第二届监事会第二十二次会议决议公告 本公司及监事会全体成员保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 乐鑫信息科技（上海）股份有限公司（以下简称"乐鑫科技"或"公司"）第 二届监事会第二十二次会议（以下简称"本次会议"）于 2024 年 7 月 29 日在公 司 304 会议室以现场方式召开。本次会议的通知于 2024 年 7 月 19 日通过电话 及邮件方式送达全体监事。会议应出席监事 3 人，实际到会监事 3 人，会议由监 事会主席吕志华主持。会议的召集和召开程序符合有关法律、行政法规、部门规 章、规范性文件和公司章程的规定，会议决议合法、有效。 二、监事会会议审议情况 本次会议由监事会主席吕志华女士主持，以记名投票表决方式审议通过以下 议案： 经审核，监事会认为公司 2024 年半年度报告的编制和审议程序符合相关法 律法规及公司章程等内部规章制度的规定；公司 2024 年半年度报告的内容与格 式符合相关规定 ...

Financial Performance - The estimated net profit attributable to the parent company for the first half of 2024 is approximately 151.64 million yuan, an increase of about 87.07 million yuan, representing a year-on-year growth of approximately 135%[2] - The estimated net profit attributable to the parent company after deducting non-recurring gains and losses is approximately 145.68 million yuan, an increase of about 91.75 million yuan, representing a year-on-year growth of approximately 170%[2] - The total profit for the same period last year was 50.18 million yuan, with a net profit attributable to the parent company of 64.57 million yuan[3] Growth Drivers - The main driver of growth is the increasing digitalization penetration across various downstream industries and the expanding global brand influence of the company[3] - New product categories (ESP32-S3, C2, and C3) are in a high growth phase, contributing to revenue growth[4] - The company is expanding its product matrix with differentiated features in new products, which will assist in entering new markets[4] Profitability and Expenses - The company’s gross profit margin is over 40%, achieving the preset target, which allows for rapid profit growth as revenue growth exceeds 20%[6] - The company’s R&D expenses are growing at a rate of approximately 20%[6] Forecast and Data Accuracy - There are no significant uncertainties affecting the accuracy of the performance forecast[7] - The data provided is preliminary and the final financial data will be disclosed in the official 2024 semi-annual financial report[8]

中信证券股份有限公司（以下简称"中信证券"或"组织券商"）受委托担任乐鑫 （香港）投资有限公司（以下简称"转让方"）以向特定机构投资者询价转让（以下简 称"询价转让"）方式减持所持有的乐鑫信息科技（上海）股份有限公司（以下简称"公 司"或"乐鑫科技"）首次公开发行前已发行股份的组织券商。 经核查，中信证券就本次询价转让的股东、受让方是否符合《上海证券交易所科创 板上市公司自律监管指引第 4 号——询价转让和配售》（以下简称"《询价转让和配售指 引》"）要求，本次询价转让的询价、转让过程与结果是否公平、公正，是否符合《询价 转让和配售指引》的规定作出如下报告说明。 一、本次询价转让概况 （一）本次询价转让转让方 中信证券股份有限公司 关于乐鑫信息科技（上海）股份有限公司 股东向特定机构投资者询价转让股份的核查报告 上海证券交易所： 截至 2024 年 7 月 4 日转让方所持公司首发前股份的数量及占公司总股本比例情况 如下： | 序号 | 股东名称 | 截至 年 2024 7 | 月 4 | 日 | 持股比例 | | --- | --- | --- | --- | --- | --- | | | | 收盘持股数 ...

证券代码：688018 证券简称：乐鑫科技 公告编号：2024-047 乐鑫信息科技（上海）股份有限公司 股东询价转让结果报告书 乐鑫（香港）投资有限公司（以下简称"转让方"）保证向乐鑫信息科技（上 海）股份有限公司（以下简称"乐鑫科技"或"公司"）提供的信息内容不存在任 何虚假记载、误导性陈述或者重大遗漏，并对其真实性、准确性和完整性依法承担 法律责任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示: 一、 转让方情况 (一) 转让方基本情况 截至 2024 年 7 月 4 日转让方所持公司股份的数量、比例情况如下： | 序号 | 股东名称 | 持股数量（股） | 持股比例 | | --- | --- | --- | --- | | 1 | 乐鑫（香港）投资有限公司 | 46,266,142 | 41.24% | 本次询价转让的转让方乐鑫（香港）投资有限公司为公司控股股东，持有公司 股份比例超过 5%。 (二)转让方一致行动关系及具体情况说明 本次询价转让的转让方无一致行动人。 本次询价转让的价格为 90.00 元/股，转让的股票数量为 1,250,000 股。 公司控股 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking it as the first coverage [4]. Core Insights - The company is positioned as a global leader in the AIoT solutions platform, focusing on the Internet of Things (IoT) sector, starting with Wi-Fi MCU and continuously expanding its product line [10][11]. - The company has established a robust product moat through a combination of software and ecosystem development, enhancing its competitive edge [2]. - The company has maintained the highest global market share in Wi-Fi MCU for six consecutive years, indicating strong market recognition and customer acceptance [35]. Financial Forecast Summary - The company is expected to see steady revenue growth driven by a rich product line, with projected revenues of 8.42 billion, 10.78 billion, and 12.84 billion for the years 2024 to 2026, respectively, with gross margins of 46.8%, 46.9%, and 47.0% [80]. - The module business is anticipated to grow alongside the chip business, with expected revenues of 11.43 billion, 14.94 billion, and 18.95 billion for the same period [81]. Product Development and Market Position - The company has a diverse product portfolio that includes high-performance chips and cost-effective solutions, catering to various customer needs in the AIoT space [38]. - The company has successfully integrated AI capabilities into its products, aligning with the growing trend of AIoT, and has developed a self-researched RISC-V architecture to enhance its product offerings [57][58]. - The company’s ESP RainMaker platform provides a comprehensive cloud solution for IoT applications, facilitating easier product development for customers [96][97]. Competitive Landscape - The company is compared with leading firms in the AIoT sector, such as Amlogic, Rockchip, and others, highlighting its competitive positioning in the wireless connectivity market [104]. - The report emphasizes the importance of the developer ecosystem, which is crucial for maintaining the company's business and expanding its influence in the market [98].

证券代码：688018 证券简称：乐鑫科技 公告编号：2024-046 乐鑫（香港）投资有限公司（以下简称"出让方"）保证向乐鑫信息科技（上 海）股份有限公司（以下简称"乐鑫科技"或"公司"）提供的信息内容不存在任何 虚假记载、误导性陈述或者重大遗漏，并对其真实性、准确性和完整性依法承担 法律责任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 根据 2024 年 7 月 5 日询价申购情况，初步确定的本次询价转让价格为 90.00 元/股。 一、本次询价转让初步定价 （一）经向机构投资者询价后，初步确定的转让价格为 90.00 元/股，为乐鑫 科技询价转让发送认购邀请书之日（即 2024 年 7 月 4 日）收盘价 95.45 元/股的 94.29%。 （二）参与本次询价转让报价的机构投资者家数为 4 家，涵盖了 QFII、私募 基金管理人等专业机构投资者。参与本次询价转让报价的机构投资者合计有效认 购金额约为 1.31 亿元，对应转让底价的有效认购倍数为 1.16 倍。 （三）本次询价转让拟转让股份已获全额认购，初步确定受让方为 3 家机构 投资者，拟受让股份总数为 ...