证券代码：300496 证券简称：中科创达 公告编号：2024-060 中科创达软件股份有限公司 第五届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 中科创达软件股份有限公司（以下简称"公司"）第五届董事会第二次会议于 2024 年 8 月 26 日（星期一）在公司会议室以现场结合通讯的方式召开。会议通 知已于 2024 年 8 月 15 日通过邮件的方式送达各位董事。本次会议应出席董事 9 人，实际出席董事 9 人。 会议由董事长赵鸿飞主持，监事、高管列席。会议召开符合有关法律、法规、 规章和《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 （一）审议通过《关于<2024 年半年度报告>及其摘要的议案》 公司《2024 年半年度报告》及其摘要的编制符合中国证监会、深圳证券交易 所有关定期报告的编制规范，报告内容真实、准确、完整地反映了公司的实际情 况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com ...

Financial Performance - The company's operating revenue for the reporting period was ¥2,400,709,316.47, a decrease of 3.39% compared to the same period last year[13]. - The net profit attributable to shareholders was ¥104,369,373.13, reflecting a significant decline of 73.10% year-over-year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥88,254,753.88, down 75.23% from the previous year[13]. - The net cash flow from operating activities was ¥288,354,661.10, a decrease of 30.30% compared to the same period last year[13]. - The basic earnings per share were ¥0.2272, down 73.15% year-over-year[13]. - The total assets at the end of the reporting period were ¥11,321,021,878.83, a decrease of 1.21% from the end of the previous year[13]. - The net assets attributable to shareholders were ¥9,519,461,359.06, a slight decrease of 0.45% compared to the previous year[13]. - The company reported a significant increase in investment activities, with cash flow from investing activities decreasing by 283.58% to approximately -¥1.14 billion due to large certificate purchases[41]. - The company achieved a revenue of 2.401 billion yuan, a decrease of 3.39% compared to the same period last year[36]. - The smart software business line generated revenue of 760.71 million yuan, down 17.67% year-on-year, due to challenges in the smartphone industry and project adjustments[37]. - The smart automotive business line reported revenue of 1.102 billion yuan, an increase of 4.34% year-on-year, despite a slowdown in growth due to longer acceptance cycles from automotive manufacturers[37]. - The smart IoT business line achieved revenue of 537.82 million yuan, up 6.59% year-on-year, driven by the ongoing development of edge intelligence and industrial automation[37]. Risk Management - The company emphasizes the importance of risk factors and countermeasures in its management discussion and analysis section[2]. - The company has outlined potential future risks and strategies in its report[2]. - The company has established specialized market teams to mitigate risks associated with new business development in intelligent technology sectors[68]. Corporate Governance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting head[2]. - All directors attended the board meeting that reviewed the semi-annual report[2]. - The company held its annual general meeting on April 9, 2024, with a participation rate of 33.88%[76]. - The company appointed two new independent directors on June 12, 2024, following the departure of two independent directors due to term limits[77]. - The company will continue to strengthen communication with investors through various channels, ensuring transparency and effective governance[74]. - The company has implemented a "Quality Return Dual Improvement" action plan to enhance investor confidence and market stability[74]. - The company has taken steps to enhance its internal processes for information disclosure to prevent future inaccuracies[90]. Shareholder Actions - The company reported a profit distribution plan, proposing a cash dividend of 1.25 RMB per 10 shares based on a total of 459,199,894 shares[2]. - The company plans to distribute cash dividends of RMB 1.25 per 10 shares, totaling RMB 57,399,986.75, subject to shareholder approval[79]. - The company repurchased 808,400 shares, accounting for 0.18% of the total share capital, with a total expenditure of RMB 49,985,074.00[74]. - The buyback program utilized a total of 49.99 million RMB, acquiring 808,400 shares at a maximum price of 87.38 RMB per share[101]. - The company completed the share repurchase plan on March 4, 2024, with a maximum transaction price of RMB 87.38 per share and a minimum of RMB 52.14 per share[74]. - The company reported a total distributable profit of RMB 511,870,105.43, with cash dividends accounting for 100% of the total profit distribution[78]. Research and Development - R&D expenses increased by 11.94% year-on-year, amounting to an additional 52.90 million yuan, reflecting the company's commitment to its "operating system + edge intelligence" strategy[38]. - The company is focusing on edge intelligence, integrating IoT, AI, and cloud computing to enhance user interaction with devices through natural language[28]. - The company aims to develop a "mixed AI" infrastructure that integrates operating systems with edge intelligence, enhancing collaboration between hardware and applications[22]. - The company is committed to helping Chinese automotive manufacturers enter international markets by providing flexible configurations for different vehicle models and regions[25]. - The company aims to enhance its core capabilities in edge AI and technology innovation, aligning with its long-term goal of becoming a globally positioned, digitally driven company[74]. Market Position and Strategy - The automotive intelligentization sector is expected to see a compound annual growth rate of 28.8%, with significant industry potential[20]. - The development of generative AI is accelerating, with predictions that 60% of personal computers will have AI capabilities by 2027[18]. - The company aims to become a leader in the automotive operating system and software sector, enhancing the intelligence level of vehicles[25]. - The company launched the "Drip OS," integrating cockpit, intelligent driving, and cabin driving, becoming the core system for automotive intelligence[26]. - The company has established integrated vehicle-road-cloud platforms in multiple cities, enhancing its product matrix in MEC and cloud control[31]. Financial Reporting and Compliance - The company adheres to the accounting standards set by the Ministry of Finance and the China Securities Regulatory Commission, ensuring the financial statements reflect true and complete information[148]. - The company reported a change in accounting treatment for equity investments held prior to acquisition, transitioning from fair value measurement to cost method, impacting current profit and loss[154]. - The company has implemented measures to improve information disclosure quality following a warning from the Beijing Regulatory Bureau regarding inaccuracies in the 2023 annual report[89]. - The company reported no significant environmental issues or penalties during the reporting period, indicating compliance with environmental regulations[82]. - There were no major lawsuits or arbitration cases affecting the company during the reporting period[87]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥11,321,021,878.83, a decrease from ¥11,459,187,610.03 at the beginning of the period, reflecting a decline of approximately 1.21%[113]. - The company's current assets totaled ¥6,549,634,699.28, down from ¥7,663,921,932.85, indicating a decrease of about 14.55%[112]. - The company's total liabilities decreased from ¥1,703,924,966.42 to ¥1,556,612,764.07, reflecting a decline of approximately 8.64%[114]. - The total equity attributable to shareholders decreased from ¥9,562,534,492.47 to ¥9,519,461,359.06, a decrease of about 0.45%[114]. - The company’s inventory increased from ¥844,458,014.56 to ¥877,747,632.04, reflecting an increase of about 3.95%[112]. Investment Activities - The company has cumulative investment of ¥271,719.3 million from raised funds, with ¥27,575.58 million invested during the reporting period[55]. - The company reported a significant increase in long-term equity investments from ¥47,201,830.81 to ¥56,748,952.50, an increase of approximately 20.66%[113]. - The company reported a total investment amount for the reporting period of ¥5,772,095,711.89, a 121.42% increase compared to ¥2,606,889,218.25 in the same period last year[51]. - The company has established a special account for the use of raised funds, ensuring strict compliance with the regulatory agreement for fund usage[55]. Share Capital Changes - The total number of shares held by the top ten unrestricted shareholders is significant, with the largest shareholder holding 30,587,766 shares[104]. - The company’s stock capital increased by CNY 970,964.00 during the first half of 2024, bringing the total stock capital to CNY 459,199,894.00[131]. - The company reported a total share count of 459,199,894 after a reduction of 808,400 shares due to buyback and cancellation[99]. - The company’s limited shares decreased from 93,157,323 to 92,917,718, reflecting a reduction of 239,605 shares[102]. - The company has not engaged in any major asset or equity sales during the reporting period[65].

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Views - The company is collaborating with Intel to develop the Drip OS smart cockpit and with AMD to create a new generation of integrated digital cockpit platforms, enhancing its technological capabilities in the automotive sector [1][2]. - Revenue forecasts for 2024 and 2025 have been adjusted downwards to 6 billion and 7.1 billion CNY, respectively, reflecting a decrease of 23% and 27% from previous estimates, while a new revenue forecast of 8.1 billion CNY for 2026 has been introduced [2]. - Net profit forecasts for 2024 and 2025 have also been reduced to 627 million and 761 million CNY, representing a decrease of 38% and 46%, with a new forecast of 988 million CNY for 2026 [2]. Summary by Relevant Sections Revenue and Profitability - The company's revenue for 2022 was 5,445 million CNY, with a projected growth to 6,006 million CNY in 2024 and 7,102 million CNY in 2025, reflecting growth rates of 14.57% and 18.25% respectively [3]. - Net profit for 2022 was 769 million CNY, expected to decline to 627 million CNY in 2024 before recovering to 761 million CNY in 2025, with a growth rate of 21.36% [3]. Valuation Metrics - The current market capitalization corresponds to a price-to-earnings (P/E) ratio of 29x for 2024, 24x for 2025, and 19x for 2026 [2]. - The report highlights the company's strong technological foundation in AI PC, AI mobile, smart vehicles, and smart IoT, suggesting it is well-positioned to benefit from the current AI wave [2]. Strategic Collaborations - The partnership with Intel focuses on integrating high-performance computing capabilities into automotive applications, enhancing user experience through advanced 3D HMI technology [1]. - The collaboration with AMD aims to leverage its advanced APU technology to improve the performance and intelligence of digital cockpit systems [2].

Summary of Conference Call Industry Overview - The discussion primarily focuses on the automotive industry, highlighting recent developments and trends within this sector [1] Core Insights and Arguments - The company emphasizes the importance of considering automotive themes in the current market context [1] - There is a mention of the integration of social media and intelligent technology within the automotive sector, indicating a trend towards smarter vehicles and enhanced user experiences [1] Additional Important Content - The call includes updates on previous situations related to the automotive industry, suggesting ongoing changes and adaptations in response to market demands [1]

Group 1: Company Overview and Strategy - The company focuses on "edge intelligence" in various sectors, including robotics, vehicle operating systems, AI smartphones, and AI PCs [9] - The company aims to leverage the latest trends in intelligent computing to drive growth through existing and innovative business lines [9] Group 2: Robotics and Automation - The company showcased a full range of Autonomous Mobile Robot (AMR) products at the Guangzhou International Logistics Exhibition, including models like AMR_X150 and FMR_G2-200 [7] - The introduction of the Robot Scheduling Platform (RSP) aims to enhance the efficiency and safety of AGV operations, integrating hardware and software solutions [7] Group 3: Automotive Technology - The company launched the "Drip OS," a native vehicle operating system designed for central computing, which supports multi-chip platforms and enhances user experience through advanced human-machine interaction [6][9] - The Drip OS is positioned to meet the needs of automotive manufacturers, facilitating the integration of various systems and reducing production costs [7] Group 4: AI Integration in Consumer Electronics - The AI PC era is emerging, driven by advancements in chip technology and the integration of AI capabilities, enhancing both hardware performance and software optimization [9] - The company is a key partner in developing AI PC solutions, collaborating closely with Qualcomm to support next-generation applications [5][6] Group 5: Global Expansion and Market Opportunities - The company recognizes the growing trend of enterprises expanding overseas, particularly in the electric vehicle sector, which presents new opportunities for global business development [8] - The shift from manufacturing to operational capabilities is becoming crucial for Chinese companies as they enter international markets [8]

Key Points Summary Industry/Company Involved - No specific industry or company mentioned [1]. Core Views and Arguments - No core views or arguments provided [1]. Other Important Content - No other important content provided [1].

Financial Data and Key Metrics Changes - The company is currently experiencing a recovery in its smartphone business, driven by the introduction of AI features in new models [3][4] - The transition to AI smartphones is expected to revitalize the previously declining market, with significant investments from manufacturers [8][9] Business Line Data and Key Metrics Changes - The AI smartphone segment is seeing increased participation from major Android manufacturers, including Google, Samsung, Xiaomi, and others [4][6] - The company continues to support existing Android system developments while adapting to new chip technologies [5][7] Market Data and Key Metrics Changes - The transition to AI smartphones is still in its early stages, with Android 14 and Qualcomm's new chips being pivotal in this shift [7][8] - The automotive sector is primarily using the 8155 chip, with a gradual transition to the 8295 expected over the next few years [26][28] Company Strategy and Development Direction - The company aims to leverage its software development capabilities in both AI smartphones and AIPC (AI Personal Computing) to enhance product offerings [10][12] - The strategy includes a focus on platform reuse across different business lines, ensuring efficiency in resource allocation [21][24] Management's Comments on Operating Environment and Future Outlook - Management anticipates a gradual recovery in the smartphone market, with significant growth expected around 2025-2026 as AI integration becomes more prevalent [55][59] - The IoT market is still evolving, with new products emerging but lacking significant breakout successes [58][59] Other Important Information - The company is actively developing a software platform for AMR (Autonomous Mobile Robots), which is expected to enhance its product offerings in the industrial sector [50][51] - The joint venture with Horizon Robotics focuses on integrating AI chip capabilities with software solutions to support various applications [46][48] Q&A Session Summary Question: What is the expected timeline for growth in the smartphone, automotive, and IoT sectors? - Management indicated that the timeline is difficult to predict as it is closely tied to industry cycles, with a more favorable outlook expected around 2025-2026 for smartphones and gradual growth in IoT [54][55][59] Question: How is the transition to new chips in the automotive sector progressing? - The transition to the 8295 chip is ongoing, with a significant portion of vehicles still utilizing the 8155 chip, and a complete switch may take several years [26][28][30] Question: What role does the joint venture with Horizon Robotics play in the company's strategy? - The joint venture is focused on enhancing software capabilities to complement Horizon's AI chip technology, aiming to provide comprehensive solutions for clients [46][48]

Investment Rating - The report indicates a positive outlook for the company, particularly in the smart automotive sector, with a significant growth in revenue from smart driving software [1]. Core Insights - The company has achieved a historic breakthrough with smart driving software revenue reaching 180 million yuan, marking a year-on-year growth of 30.3% in the smart automotive business [1][8]. - The company has a robust order book, with contract liabilities exceeding 760 million yuan in the first quarter of 2024, indicating strong demand for its services [9]. Company Overview and Performance - The company specializes in software development, technical services, software licensing, and product sales, focusing on smart operating systems and AI technologies [1]. - The company has over 1,400 proprietary technology patents and software copyrights, with more than 13,000 employees, over 90% of whom are in R&D [1]. - From 2018 to 2022, the company experienced a compound annual growth rate (CAGR) of 38.9% in revenue and 47.2% in net profit [4]. Financial Performance - In 2023, the company reported revenue of 5.24 billion yuan, a decrease of 3.7% year-on-year, and a net profit of 470 million yuan, down 39.4% [5]. - In the first quarter of 2024, the company achieved revenue of 1.18 billion yuan, a 1% increase year-on-year, but net profit decreased by 46.1% [5][6]. Product and Service Offerings - The company provides a comprehensive range of operating system technologies, covering chip, system, application, and cloud layers, and collaborates closely with leading OS, chip, and AI platform manufacturers [3]. - The company has developed the "滴水 OS," a native operating system for central computing, which integrates various systems and supports multiple architectures [14]. Market Trends and Opportunities - The smart connected vehicle industry is rapidly evolving, with significant investments in infrastructure projects related to vehicle-road-cloud integration, projected to reach 729.5 billion yuan by 2025 [12]. - The company is recognized as an excellent partner for Huawei's smart automotive solutions, contributing to the development of the Huawei cockpit ecosystem [10]. Investor Behavior - Recent data indicates a continuous outflow of "northbound funds," with a decline in holdings by deep stock connect investors [15]. - The number of shareholders has been increasing, while the average number of shares held per investor has been decreasing [17].

Financial Data and Key Indicator Changes - The company's revenue for 2023 was 5,242 million, a decrease of 3.7% compared to 2022, which had a revenue of 5,445 million [6] - Operating profit for 2023 was 428 million, down 44.5% from 771 million in 2022 [6] - Net profit attributable to the parent company for 2023 was 466 million, a decline of 39.4% from 769 million in 2022 [6] - The earnings per share for 2023 was 1.01, down from 1.67 in 2022 [6] - The gross margin for 2023 was 36.9%, compared to 39.3% in 2022 [6] Business Line Data and Key Indicator Changes - The smart software business generated revenue of 1,416 million in 2023, a decrease of 25.12% year-on-year [21] - The smart connected vehicle business achieved revenue of 2,337 million, an increase of 30.34% year-on-year [21] - The smart IoT business reported revenue of 1,489 million, down 15.45% year-on-year [21] - The combined revenue from the smart connected vehicle and smart IoT businesses accounted for 72.99% of total revenue in 2023 [21] Market Data and Key Indicator Changes - The company has a global presence with operations in 43 regions, allowing it to stay ahead of market trends and customer needs [19] - The shift towards AI PCs and the adoption of Arm architecture is becoming a focal point for major manufacturers, indicating a growing market opportunity [34][40] Company Strategy and Development Direction - The company focuses on a "technology + ecosystem" platform development strategy, emphasizing collaboration with leading OS, chip, and AI platform manufacturers [16][19] - The strategic partnership with Qualcomm positions the company favorably in the emerging AI PC ecosystem [34] - The company aims to explore new application scenarios for edge AI, indicating a commitment to innovation and growth in this area [1] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of macroeconomic conditions and significant investments in AI on short-term performance, but remains optimistic about long-term growth prospects [21] - The company plans to continue its focus on the second growth curve (existing business + edge intelligence) and the third growth curve (edge intelligence + innovative business) [1] Other Important Information - The company has implemented a stock incentive plan to align employee interests with long-term growth, with performance targets set for revenue growth over the next three years [19][20] - The company has a strong R&D team of over 11,705 personnel, reflecting its commitment to innovation and technology development [30] Q&A Session Summary Question: What are the expectations for AI PC adoption? - The company noted that the rapid development of edge AI and the introduction of AI PCs by major manufacturers like Microsoft and Qualcomm indicate a significant market opportunity [34][40] Question: How does the company plan to manage the impact of AI investments on short-term performance? - Management emphasized a focus on long-term growth and innovation, despite short-term pressures from increased investments in AI [21] Question: What is the company's strategy regarding partnerships in the AI ecosystem? - The company highlighted its strategic collaboration with Qualcomm as a key advantage in positioning itself within the AI PC ecosystem [34]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 71.30 CNY based on a 46x P/E ratio for 2025 [2][4]. Core Insights - The company is a global leader in intelligent operating systems and technology, focusing on Linux, Android, RTOS, and HarmonyOS since its establishment in 2008. It has adopted a "technology + ecosystem" platform development strategy and has expanded its business into three main areas: intelligent software, intelligent connected vehicles, and intelligent IoT [1][11]. - The rapid development of edge AI has led global manufacturers to embrace AI PCs, with significant advancements in AI model sizes and inference costs. Major companies like Microsoft and Qualcomm are at the forefront of this transition, with predictions of over 100 billion Arm devices being AI-capable by the end of 2025 [1][34]. - The company has a long-term strategy for edge intelligence, leveraging its strong operating system technology and localized service capabilities to create a comprehensive solution that integrates edge, cloud, and distributed OS [1][11]. - A deep partnership with Qualcomm has positioned the company advantageously within the ecosystem, providing end-to-end services for the Snapdragon X Elite development kit and establishing a first-mover advantage in the Windows on Arm ecosystem [1][34]. Summary by Sections Business Overview - The company has established a solid foundation in intelligent operating systems and has developed a comprehensive product matrix through both organic growth and acquisitions, covering various application scenarios including intelligent terminals, vehicles, and IoT [11][12]. - The company’s revenue from intelligent software, intelligent connected vehicles, and intelligent IoT has shown significant growth, with the intelligent connected vehicle segment becoming a major growth driver [21][26]. Financial Performance - The company’s revenue for 2023 was 5,242 million CNY, a decrease of 3.73% year-on-year, while the net profit attributable to the parent company was 466 million CNY, down 39.36% [6][21]. - The earnings per share for 2024 is projected to be 1.21 CNY, with subsequent years showing growth to 1.55 CNY in 2025 and 1.86 CNY in 2026 [2][6]. Market Trends - The AI PC market is rapidly evolving, with significant interest from major players like Microsoft and AMD, indicating a shift towards Arm architecture for enhanced energy efficiency and performance in AI applications [34][40]. - The ComputeX 2024 event highlighted the focus on AI, with various manufacturers showcasing their advancements in AI PC technology, further solidifying the trend towards edge AI solutions [40].