芯原股份(688521) - 2024 Q3 - 季度财报

Revenue Performance - Revenue for Q3 2024 reached 717.98 million yuan, a 23.60% year-over-year increase and a 16.96% quarter-over-quarter growth[4] - Revenue from semiconductor IP licensing business in the first three quarters of 2024 was 478 million yuan, an 8.78% year-over-year increase, with 171 IP licensing instances, up 92 from the previous year[6] - Revenue from chip design business in the first three quarters of 2024 was 518 million yuan, a 37.02% year-over-year increase, with 96.21% from 28nm and below process nodes and 86.22% from 14nm and below[7] - Revenue from mass production business in the first three quarters of 2024 was 574 million yuan, a 33.06% year-over-year decrease, but new mass production orders surged 303.17% year-over-year to 597 million yuan[8] - Revenue from AI-related intellectual property licensing in the first three quarters of 2024 was 232 million yuan, accounting for 48.59% of total IP licensing revenue[6] - Operating revenue for the first three quarters of 2024 was 1,649,971,464.11 RMB, a decrease from 1,764,647,377.77 RMB in the same period of 2023[19] - Revenue from sales of goods and services was 1,627,197,562.06 RMB, slightly up from 1,625,397,798.13 RMB in the same period last year[24] Intellectual Property Licensing - Intellectual property licensing revenue in Q3 2024 was 218 million yuan, up 36.62% quarter-over-quarter[4] - Revenue from semiconductor IP licensing business in the first three quarters of 2024 was 478 million yuan, an 8.78% year-over-year increase, with 171 IP licensing instances, up 92 from the previous year[6] - Revenue from AI-related intellectual property licensing in the first three quarters of 2024 was 232 million yuan, accounting for 48.59% of total IP licensing revenue[6] Orders and Backlog - New orders in Q3 2024 totaled 648 million yuan, with a backlog of 2.138 billion yuan, of which 78.26% is expected to convert to revenue within one year[5] - Revenue from mass production business in the first three quarters of 2024 was 574 million yuan, a 33.06% year-over-year decrease, but new mass production orders surged 303.17% year-over-year to 597 million yuan[8] Profitability and Margins - Gross profit for the first three quarters of 2024 was 702 million yuan, a 8.43% year-over-year decrease, with a gross margin of 42.52%, down 0.90 percentage points year-over-year[9] - Net loss attributable to shareholders in Q3 2024 was 111.05 million yuan, narrowing by 45 million yuan year-over-year[9] - Net profit attributable to shareholders of the listed company for the period from the beginning of the year to the reporting period showed fluctuations due to a year-on-year decline in revenue and gross profit, coupled with increased R&D expenses[11] - Net profit attributable to shareholders was -395,858,494.37 RMB, a significant decline from -134,218,721.31 RMB in the same period last year[22] - Basic and diluted earnings per share were -0.79 RMB, compared to -0.27 RMB in the previous year[22] R&D Investment - R&D investment in the first three quarters of 2024 was 880 million yuan, a 24.63% year-over-year increase, accounting for 53.35% of revenue[3] - R&D expenses increased to 880,249,163.34 RMB, up from 699,484,459.73 RMB, reflecting a 25.8% year-over-year growth[21] Cash Flow and Financial Position - Operating cash flow for the reporting period was -170.81 million, primarily due to a decrease in cash paid for goods and services and an increase in tax refunds received[11] - Net cash flow from operating activities was -393,381,013.48 RMB, compared to -144,192,928.66 RMB in the previous year[24] - Investment activities generated a net cash inflow of 201,042,470.29 yuan, compared to a net outflow of -122,207,792.96 yuan in the previous period[25] - The company received 1,456,670,000.00 yuan from other investment-related activities, a significant increase from 280,000,000.00 yuan in the previous period[25] - Cash outflow for investment activities totaled 1,259,820,298.56 yuan, with 1,145,000,000.00 yuan allocated to other investment-related payments[25] - Financing activities resulted in a net cash inflow of 231,985,759.25 yuan, a decrease from 309,914,592.02 yuan in the previous period[25] - The company obtained 406,200,000.00 yuan from borrowings, up from 377,900,000.00 yuan in the previous period[25] - Cash and cash equivalents at the end of the period amounted to 726,905,240.60 yuan, compared to 809,772,340.31 yuan in the previous period[25] - The company allocated 112,820,298.56 yuan for the purchase of fixed assets, intangible assets, and other long-term assets[25] - Cash outflow for financing activities totaled 174,214,240.75 yuan, including 75,650,943.34 yuan for debt repayment and 98,563,297.41 yuan for other financing-related payments[25] - The net increase in cash and cash equivalents was 41,652,729.61 yuan, slightly lower than the 47,888,061.68 yuan increase in the previous period[25] - The impact of exchange rate changes on cash and cash equivalents was 2,005,513.55 yuan[25] Shareholder Information - VeriSilicon Limited holds 15.14% of the company's shares, making it the largest shareholder[12] - The National Integrated Circuit Industry Investment Fund holds 6.95% of the company's shares[12] - The top 10 shareholders collectively hold a significant portion of the company's shares, with no shares pledged, marked, or frozen[13] - The company's top 10 shareholders and top 10 unrestricted shareholders did not participate in margin trading or securities lending activities[14] - The company's top 10 shareholders and top 10 unrestricted shareholders did not experience any changes due to securities lending or return activities[15] Asset and Liability Changes - Total assets increased to 4,717,286,963.49 RMB as of September 30, 2024, compared to 4,406,380,975.42 RMB at the end of 2023[17][18] - Total liabilities rose to 2,408,137,454.74 RMB as of September 30, 2024, up from 1,706,087,354.69 RMB at the end of 2023[18][19] - Accounts receivable increased to 1,162,252,658.43 RMB as of September 30, 2024, compared to 1,021,639,249.64 RMB at the end of 2023[17] - Inventory grew to 367,264,179.56 RMB as of September 30, 2024, up from 278,622,683.88 RMB at the end of 2023[17] - Fixed assets increased to 720,820,142.63 RMB as of September 30, 2024, compared to 505,111,613.96 RMB at the end of 2023[17] - Intangible assets rose to 546,994,721.70 RMB as of September 30, 2024, up from 396,537,174.64 RMB at the end of 2023[18] - Long-term loans increased to 838,826,256.76 RMB as of September 30, 2024, compared to 659,611,343.09 RMB at the end of 2023[18] - Contract liabilities grew to 604,216,602.51 RMB as of September 30, 2024, up from 453,522,036.80 RMB at the end of 2023[18] - Retained earnings decreased to -2,211,316,187.65 RMB as of September 30, 2024, compared to -1,815,457,693.28 RMB at the end of 2023[19] Operating Costs and Expenses - Total operating costs rose to 2,039,426,765.96 RMB, up from 1,871,531,586.08 RMB, an increase of 9%[21] - Sales expenses increased to 98,127,551.96 RMB, up from 90,121,995.89 RMB, reflecting a 8.9% year-over-year growth[21] - Cash received from tax refunds decreased to 8,852,994.22 RMB, down from 41,495,180.21 RMB in the previous year[24] Comprehensive Income - Other comprehensive income after tax was 162,763.70 RMB, compared to -1,782,577.74 RMB in the same period last year[22] - Total comprehensive income was -395,695,730.67 RMB, a significant decline from -136,001,299.05 RMB in the previous year[22]