Financial Performance - The company's revenue for Q1 2024 was CNY 1.14 billion, a decrease of 26.16% compared to CNY 1.54 billion in the same period last year[3] - Net profit attributable to shareholders was CNY 306.70 million, down 47.44% from CNY 583.82 million year-on-year[3] - The basic earnings per share were CNY 0.3637, down 47.04% from CNY 0.6872 in the same period last year[3] - In Q1 2024, the company reported a net profit of CNY 312.80 million, a decrease of 46.0% compared to CNY 578.53 million in Q1 2023[26] - The company's operating profit for Q1 2024 was CNY 328.98 million, down 48.6% from CNY 637.75 million in the same period last year[26] - The total comprehensive income for Q1 2024 was CNY 313.24 million, compared to CNY 575.20 million in the same quarter last year[26] - The company reported a decrease in sales revenue from CNY 1.66 billion in Q1 2023 to CNY 1.14 billion in Q1 2024[27] Cash Flow and Assets - The net cash flow from operating activities was -CNY 271.98 million, a decline of 252.63% compared to CNY 181.20 million in the previous year[3] - The company's cash and cash equivalents decreased to approximately 2.41 billion yuan from 3.10 billion yuan at the beginning of the period, reflecting a decline of 22.3%[22] - Cash and cash equivalents at the end of Q1 2024 totaled CNY 2.29 billion, down from CNY 3.72 billion at the end of Q1 2023[28] - The company experienced a net cash outflow from investing activities of CNY 390.01 million, worsening from a net outflow of CNY 259.40 million in the previous year[28] - Total assets at the end of the reporting period were CNY 16.86 billion, a decrease of 3.82% from CNY 17.53 billion at the end of the previous year[4] - The company's total liabilities decreased to approximately 4.91 billion yuan from 5.80 billion yuan, a reduction of 15.3%[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 197,459[14] - Tibet Unisoc Chunhua Technology Co., Ltd. holds 26.00% of shares, totaling 220,901,326 shares[14] - The top 10 shareholders include entities such as Hong Kong Central Clearing Limited with 2.85% (24,205,000 shares) and China Construction Bank with 1.76% (14,972,595 shares)[14] - The company’s major shareholders do not have any known relationships or concerted actions among them[15] - The company’s stockholders did not participate in margin financing activities[15] - The total number of preferred shareholders is not applicable[18] - The company’s stock structure includes significant holdings by various investment funds, with the top 10 unrestricted shareholders holding substantial shares[14] Investments and Strategic Actions - The company transferred 35% equity of its subsidiary Unisoc Qingteng for RMB 102.27 million and acquired 65% equity of Unisoc Xinneng and Unisoc Anxin for RMB 4.37 million and RMB 3.29 million respectively[18] - Unisoc Qingteng is no longer included in the consolidated financial statements as of February 20, 2024, while Unisoc Xinneng and Unisoc Anxin are fully owned and included in the financial statements[19] - The company is focusing on optimizing its industrial layout through strategic equity adjustments[18] - The company approved an investment of 355 million yuan to establish a micro quartz crystal resonator production base, aiming for an annual production capacity of 768 million units[20] - The company is in the process of liquidating Wuxi Ziguang Microelectronics due to long-term operational losses and lack of funding, with the liquidation decision made on January 27, 2024[21] Operational Metrics - Total operating costs for Q1 2024 were approximately 896.49 million yuan, a decrease of 9.6% compared to 992.12 million yuan in Q1 2023[25] - Research and development expenses amounted to CNY 292.02 million, slightly down from CNY 310.87 million in Q1 2023[26] - Accounts receivable increased to approximately 4.46 billion yuan, up from 4.31 billion yuan, indicating a rise of 3.9%[22] - The company's equity attributable to shareholders increased to approximately 11.95 billion yuan from 11.66 billion yuan, reflecting a growth of 2.5%[24] - The weighted average return on equity was 2.60%, a decrease of 3.24 percentage points from 5.84% year-on-year[3] - The company reported a significant increase in credit impairment losses, which rose by 777.32% to CNY 21.46 million, attributed to higher provisions for bad debts[11] Audit and Compliance - The company has not undergone an audit for the Q1 2024 report[29]

出席本次年度业绩说明会的人员有：公司副董事长兼总裁谢文刚先生、独立 董事马朝松先生、副总裁乔志城先生、副总裁兼董事会秘书杜林虎先生、财务总 监杨秋平女士。 为充分尊重投资者、提升交流的针对性，现就公司 2023 年度业绩网上说明 会提前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2024 年 5 月 7 日 15:00 之前访问 http://ir.p5w.net/zj/或扫描下方二维码，进入问题征集 专题页面。公司将在本次年度业绩说明会上对投资者普遍关注的问题进行回答。 欢迎广大投资者积极参与。 特此公告。 | 证券代码：002049 证券简称：紫光国微 | 公告编号：2024-022 | | --- | --- | | 债券简称：国微转债 债券代码：127038 | | 紫光国芯微电子股份有限公司 关于举行 2023 年度业绩网上说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 紫光国芯微电子股份有限公司（以下简称"公司"）于 2024 年 4 月 18 日披 露了《2023 年年度报告》，为便于广大投资者进一步了解公司 20 ...

证券研究报告·公司点评报告·半导体 紫光国微（002049） 2023 年年报点评：业务表现的基本稳定，产 2024 年 04月 22日 品谱系持续拓展 证券分析师 苏立赞 买入（维持） 执业证书：S0600521110001 sulz@dwzq.com.cn 盈[T 利ab 预le_ 测EP 与S 估] 值 2022A 2023A 2024E 2025E 2026E 证券分析师 许牧 营业总收入（百万元） 7,120 7,565 9,284 11,558 13,875 执业证书：S0600523060002 xumu@dwzq.com.cn 同比 33.28 6.26 22.71 24.50 20.04 研究助理 高正泰 归母净利润（百万元） 2,632 2,531 2,940 3,729 4,585 执业证书：S0600123060018 同比 34.71 (3.84) 16.17 26.85 22.96 gaozht@dwzq.com.cn EPS-最新摊薄（元/股） 3.10 2.98 3.46 4.39 5.40 P/E（现价&最新摊薄） 19.30 20.07 17.28 13.62 11.08 ...

Investment Rating - Buy-A rating maintained with a 6-month target price of 88.7 RMB, compared to the current price of 59.78 RMB as of April 19, 2024 [1] Core Views - The company is expected to maintain robust growth due to high R&D investment and a diversified product portfolio [1][2] - Revenue for 2023 reached 7.565 billion RMB, a 6.26% YoY increase, with a gross margin of 61.19% [1] - Net profit for 2023 was 2.531 billion RMB, a slight decline of 3.84% YoY [1] Product Lines and R&D - The company operates three main product lines: integrated circuits (59.32% of revenue), smart card chips (37.57%), and quartz crystals (2.45%) [2] - R&D investment in 2023 was 1.633 billion RMB, a 30.68% YoY increase, accounting for 21.58% of revenue [2] - New product developments include industrial-grade and radiation-resistant products, as well as advancements in FPGA, memory, and analog products [2] Financial Performance and Projections - Revenue for 2024-2026 is projected to be 8.473 billion RMB, 9.575 billion RMB, and 10.532 billion RMB, respectively [6] - Net profit for 2024-2026 is expected to be 2.513 billion RMB, 3.175 billion RMB, and 3.786 billion RMB, respectively [6] - PE ratios for 2024-2026 are estimated at 20x, 16x, and 13x, respectively [6] Profitability and Valuation Metrics - Gross margin for 2023 was 61.19%, with a net profit margin of 33.5% [1][7] - ROE for 2023 was 21.7%, with a projected increase to 17.9% by 2025 [7] - The company's ROIC for 2023 was 39.3%, with a projected increase to 45.4% by 2025 [7] Operational Efficiency - The company has improved operational efficiency through cost control and increased production efficiency [3] - Fixed asset turnover days increased from 16 days in 2022 to 21 days in 2023 [8] - Inventory turnover days increased from 87 days in 2022 to 112 days in 2023 [8] Market Position and Competitive Edge - The company maintains a leading position in the FPGA market, with expanding customer base and recognition for high-performance products [3] - New products in the analog and memory sectors have been successfully developed and launched [3] Future Growth Drivers - The company is expected to benefit from the growth of its new product lines, particularly in the FPGA, memory, and analog sectors [3][6] - Continued R&D investment and product innovation are key drivers for future growth [2][6]

[Table_Title] 证券研究报告 营收稳健增长，智能安全芯片不断突破 公司研究 [Table_ReportDate] 2024年04月19日 [Table_ReportType] 公司点评报告 [T事ab件le：_公Su司mm发ar布y] 2 023年年报，全年实现营业收入75.65亿元，同比+6.26%； [紫Ta光bl国e_微Sto(c0k0A2n0d4R9an)k ] 归母净利润 25.31 亿元，同比-3.84%；扣非归母净利润 23.91 亿元，同比 -2.88%。单四季度来看，实现营业收入 19.23 亿元，同比-11.95%、环比 投资评级 +0.79%；归母净利润 5.00 亿元，同比-15.40%、环比-21.75%；扣非归母 上次评级 净利润4.69亿元，同比-7.50%、环比-21.83%。 点评： [莫Ta文b宇le _电Au子th行o业r] 首席分析师 执业编号：S1500522090001 ➢ 特种集成电路业务小幅下降，智能安全芯片业务持续攀升。分产品看： 邮 箱：mowenyu@cindasc.com （1）特种集成电路营收44.88亿元（同比-5.02%），毛利率73. ...

紫光国微（002049.SZ）2023年年报点评 2023 年平稳过渡，静待行业拐点 2024年04月18日 ➢ 事件：紫光国微 4 月 17 日晚发布 2023 年年报，公司 2023 年实现收入 推荐 维持评级 75.65亿元（YoY+6.26%），归母净利润25.31亿元（YoY-3.84%），扣非归母 当前价格： 60.76元 净利润23.91亿元（YoY-2.88%）。对应4Q23单季度，公司实现收入19.23亿 元（YoY-11.94%，QoQ+0.79%），归母净利润5亿元（YoY-15.46%，QoQ- [Table_Author] 21.78%），扣非归母净利润4.69亿元（YoY-7.46%，QoQ-21.77%）。 ➢ 特种集成电路业务整体平稳，新产品研发进展顺利。公司是国内领先的特种 集成电路企业，产品涵盖微处理器、可编程器件、存储器、网络及接口、模拟器 件、ASIC/SoPC等几大系列产品，600多个品种。2023年，面对复杂的外部形 势和严峻市场环境，行业下游需求受到较大冲击，公司通过多举措并举实现了经 营业绩整体稳定。2023年公司特种集成电路实现收入44.88亿元（YoY-5. ...

更多资料加入知识星球：水木调研纪要关注公众号：水木纪要 紫光国微20240418_原文 2024年04月18日18:16 发言人 00:00 涉及第三方专家发言，其内容仅代表专家个人观点。根据监管规定，未经信达证券书面授权 严禁任何机构或个人转发、转载录音、制作并传播纪要或引用会议的任何部分内容的。对于违 法，信达证券对此等行为不承担任何责任，且信达证证券将保留一切法律权利。感谢您的理解 和支持。 发言人 00:22 好的，尊敬的各位投资者，大家上午好。我是信达证券研究所副所长，电子行业首席分析师莫 文宇。欢迎大家参加紫光国微2023年年报的业绩交流会。下面介绍的是本次会议的参会人员。 发言人00:36 首先我们非常荣幸的请到了紫光国威副董事长、总裁谢文刚谢总。然后我们也请到了紫光国威 董事会秘书杜林虎杜总以及财务总监杨秀萍杨总一起来跟各位进行交流。昨天紫光国也发布了 2023年的这样一个年度的业绩。下面我们首先有请谢总跟大家做一个对公司2023年总体业绩 的这样一个这样一个综述和概览。然后的话我们就开放问答环节。后面就请各位投资者踊跃的 跟谢总，跟杜总、杨总进行相应的交流。这种你好你好这个故事。 发言人 0 ...

Investment Rating - The investment rating for the company is "Buy - B" [1] Core Views - Despite industry pressures, the company has demonstrated strong resilience, achieving a revenue of 7.565 billion yuan in 2023, a year-on-year increase of 6.26%, while the net profit attributable to shareholders decreased by 3.84% to 2.530 billion yuan [1] - The company has focused on its core business, optimizing resource allocation, and has initiated equity adjustments in its subsidiaries, which is expected to enhance management efficiency [1] - The company’s special integrated circuit business generated a revenue of 4.487 billion yuan, with a slight year-on-year decline of 5.02%, maintaining a gross margin of 73.22% [1] - R&D investment has increased by 30.68% year-on-year to 1.633 billion yuan, accounting for 21.58% of revenue, indicating a commitment to technological innovation [1] Financial Performance - The company’s revenue for 2023 was 7.565 billion yuan, with a net profit of 2.530 billion yuan, reflecting a decline in profitability but stable operational cash flow of 1.772 billion yuan [3][5] - Forecasted revenues for 2024, 2025, and 2026 are 10.145 billion yuan, 13.493 billion yuan, and 17.541 billion yuan respectively, with expected growth rates of 34.1%, 33%, and 30% [2][3] - The projected net profits for the same years are 3.232 billion yuan, 4.316 billion yuan, and 5.249 billion yuan, with corresponding growth rates of 27.7%, 33.5%, and 21.6% [2][3] Product Development and Market Position - The company has launched new industrial-grade and radiation-resistant product series, and has made significant progress in the development of special memory and dedicated processors [1] - The smart security chip business has seen a revenue increase of 36.67% year-on-year, reaching 2.842 billion yuan, indicating strong market demand [2] - The company has established a development and management process for automotive-grade products, achieving recognition in the automotive electronics market [1][2]

紫光国芯微电子股份有限公司 2023 年度 非经营性资金占用及其他关联资金往来的 专项说明 | 蒙引 | 页码 | | --- | --- | | 专项说明 | 1-2 | | 非经营性资金占用及其他关联资金往来情况汇总表 | 1-1 | C C C ( ShineWir certified nublic 9/F Block A Fu Hua M No 8 Chaovangme Donachena Distric 关于紫光国芯微电子股份有限公司 2023 年度非经营性资金占用及其他关联资金往来的专项说明 XYZH/2024BJAG1B0149 紫光国芯微电子股份有限公司 ( 1 i ", " 信永中和会计师事务所 北京市东城区朝阳门北大街 8 号富华大厦 A 座 9 | 紫光国芯微电子股份有限公司全体股东: 我们按照中国注册会计师审计准则审计了紫光国芯微电子股份有限公司(以下简称 紫光国微）2023年度财务报表,包括 2023年 12 月 31 日的合并及母公司资产负债表、 2023 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公司股东权益变 动表以及财务报表附注,并于 2024年 4 月 16 ...

| 证券代码：002049 | 证券简称：紫光国微 | 公告编号：2024-018 | | --- | --- | --- | | 债券代码：127038 | 债券简称：国微转债 | | 紫光国芯微电子股份有限公司 第八届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 紫光国芯微电子股份有限公司（以下简称"公司"）第八届董事会第七次会议 通知于 2024 年 4 月 3 日以电子邮件的方式发出，会议于 2024 年 4 月 16 日下午 14:30 在北京市海淀区知春路 7 号致真大厦 B 座 16 层公司会议室以现场表决的 方式召开，会议由董事长马道杰先生主持。会议应出席董事 7 人，实际出席董事 7 人。公司监事、高级管理人员列席了本次会议。会议符合《中华人民共和国公 司法》和《公司章程》的规定。 经与会董事审议，会议形成如下决议： 1、会议以 7 票同意、0 票反对、0 票弃权的表决结果审议通过《2023 年度 董事会工作报告》。 《2023 年度董事会工作报告》全文披露于 2024 年 4 月 18 日的巨潮资讯网 （http ...