Cambricon(SH:688256)2021-08-11 16:00Financial Performance - The company reported a significant increase in revenue for the first half of 2021, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 35%[6]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2021, representing a 25% year-over-year growth[9]. - The company has set a future outlook with a revenue guidance of 3 billion RMB for the full year 2021, indicating a projected growth of 20%[9]. - The company achieved revenue of ¥83,743,800 from edge intelligent chips and acceleration cards, which accounted for 60.74% of total revenue, marking a 739.52% increase year-on-year[16]. - The company reported a revenue of ¥137,872,189.19 for the first half of 2021, representing a 58.10% increase compared to ¥87,203,426.05 in the same period last year[15]. - The company reported a total of 62,420,000.00 RMB in expected annual related party transactions for 2021, with actual transactions amounting to 41,593.32 RMB as of June 30, 2021[113]. User Growth - User data indicates that the number of active users has reached 5 million, an increase of 20% compared to the previous period[6]. - User data showed a growth in active users, reaching 2 million by the end of June 2021, which is a 40% increase compared to the previous year[10]. Research and Development - The company is investing heavily in R&D, with a budget allocation of 300 million yuan for new technology development in AI and machine learning[6]. - The company plans to invest 100 million RMB in research and development for next-generation AI technologies over the next two years[9]. - Research and development expenses increased by ¥138,128,700, with R&D expenses accounting for 301.38% of revenue, down from 318.10% year-on-year[16]. - Research and development (R&D) expenses totaled approximately ¥415.52 million, representing a 49.80% increase compared to the previous period[32]. - The number of R&D personnel increased by 26.20% year-on-year, reaching 1,002, with 77.54% holding a master's degree or higher[33]. Market Expansion and Strategy - Market expansion plans include entering three new international markets by Q4 2021, aiming for a 15% increase in global market share[6]. - The company is expanding its market presence by entering three new international markets by the end of 2021, aiming for a 15% increase in global sales[9]. - The overall market strategy includes a shift towards more sustainable practices, aiming for a 25% reduction in carbon footprint by 2025[10]. Product Development - New product launches are expected to contribute an additional 200 million yuan in revenue by the end of the year[6]. - New product development includes the launch of an AI chip expected to enhance processing capabilities by 50% compared to previous models, targeting a market share increase in the AI sector[10]. - The introduction of a new cloud-based service is anticipated to generate an additional 500 million RMB in revenue by the end of 2021[10]. - The company is focusing on expanding its product line and increasing R&D investment to enhance its "cloud-edge-end" industry layout[16]. Financial Health and Risks - The net loss attributable to shareholders was ¥391,603,123.66, worsening from a loss of ¥201,859,556.62 in the previous year[15]. - The company has identified key risks, including supply chain disruptions and increased competition, which may impact future performance[6]. - The company’s accumulated undistributed profits amounted to -1.68 billion yuan, indicating a risk of not being able to distribute cash dividends to shareholders in the short term[44]. - The net cash flow from operating activities was negative at ¥539,317,327.49, compared to a negative ¥200,633,859.89 in the previous year[15]. Intellectual Property and Innovation - The company has developed a unified software platform, Cambricon Neuware, to support all its chip and processor products, enhancing performance and flexibility[21]. - The company has independently developed four generations of commercial intelligent processor instruction sets, resulting in a complete and flexible patent portfolio, with a total of 90 patents, including 13 overseas patents[23]. - The company has increased its patent portfolio by 59 items during the reporting period, totaling 184 patents[23]. - The company has established a systematic intellectual property layout to protect its core technologies in intelligent chips[39]. Corporate Governance and Compliance - The company’s major shareholders must notify the company of any intended share reductions in advance, ensuring transparency in share transactions[71]. - The company has committed to resolving related party transactions and competition issues, although some commitments have not been strictly adhered to[68]. - The company will ensure that any reduction in pre-IPO shares within two years post-lock-up does not exceed 50.00% of the total shares held[73]. Environmental and Social Responsibility - The company actively promotes energy-saving and low-carbon initiatives, integrating these concepts into daily operations[64]. - The company has not been subject to any environmental penalties and operates under a Fabless model, outsourcing manufacturing processes[61].