Workflow
寒武纪(688256) - 2021 Q4 - 年度财报
688256Cambricon(688256)2022-05-25 16:00

Financial Performance - As of December 31, 2021, the company has not achieved profitability, primarily due to significant R&D investments in complex computing chips[3]. - The company reported a significant increase in revenue, achieving a total of 1.5billionforthefiscalyear,representinga251.5 billion for the fiscal year, representing a 25% year-over-year growth[13]. - The company's operating revenue for 2021 was ¥721,045,278.97, representing a 57.12% increase compared to ¥458,927,330.67 in 2020[24]. - The net profit attributable to shareholders was a loss of ¥824,949,409.11, widening from a loss of ¥434,509,331.16 in the previous year[24]. - The company achieved significant growth in its edge product line, with revenue increasing by 741.10% year-over-year, driven by the successful sales of MLU220 chips and acceleration cards[25]. - The company reported a total of 285.8 million RMB in non-recurring gains for the current period, an increase from 224.2 million RMB in the previous year[30]. - The company’s operating expenses for 2021 were 1.60 billion yuan, with R&D and talent incentives comprising a significant portion of these costs[63]. - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[131]. - The company reported a net loss attributable to the parent company of -82,494,940.00 CNY, with losses expanding by 89.86% compared to the previous year[76]. Research and Development - R&D expenses increased significantly during the reporting period, reflecting the company's commitment to maintaining a technological edge in a competitive market[3]. - The company plans to invest 100 million in cloud infrastructure to support its growing user base and data processing needs[14]. - The company is investing 100 million in R&D for next-generation SoC technology, aiming to enhance integration and performance[16]. - The total R&D investment for the year reached approximately ¥1.14 billion, a 47.83% increase from the previous year, driven by a 24.03% increase in R&D personnel[54]. - The company has a strong R&D team, with 81.03% of employees engaged in R&D and 77.00% of R&D personnel holding a master's degree or higher[61]. - The company has developed a high-performance training software stack that supports major open-source frameworks, facilitating rapid model migration for users[34]. - The company has established a unified cloud-edge-end development environment, significantly improving cross-platform development efficiency[51]. - The company has developed virtualization software for its smart chips, enhancing resource utilization and providing good security and isolation[51]. Market Expansion and Strategy - The company plans to continue expanding market share, accelerating scene implementation, and focusing on technological innovation to enhance core competitiveness[3]. - The company is actively promoting market development and ecosystem construction to enhance brand effect and service quality[3]. - The company is expanding its market presence in Europe, targeting a 15% market share by the end of the next fiscal year[14]. - The company aims to enhance market development efforts and deepen industry customer relationships to accelerate revenue growth and mitigate the risk of continued losses[63]. - The company is focusing on market expansion in Southeast Asia, with plans to increase its presence by opening 50 new retail locations by the end of 2022[128]. - The company plans to enhance its product matrix to meet diverse customer needs and reduce customer concentration by capitalizing on the strategic opportunities presented by the integration of AI technology into traditional industries[67]. Talent and Incentives - The company is focused on attracting and retaining top talent to ensure a stable R&D team[3]. - The company has implemented an equity incentive plan that has led to a significant increase in share-based payment expenses during the reporting period[3]. - The talent system will be optimized, with a focus on attracting top R&D talent and implementing equity incentives for core personnel to align interests with shareholders[114]. - The average salary for R&D personnel is CNY 60.88 thousand, with total compensation of CNY 73,842.17 thousand[58]. Corporate Governance and Compliance - The company has established a comprehensive internal control system, ensuring compliance with relevant laws and regulations, and protecting the interests of shareholders[162]. - The company adheres strictly to laws and regulations regarding information disclosure, ensuring transparency and fairness in its communications with investors[184]. - The company has not faced any penalties from securities regulatory authorities in the past three years, reflecting compliance with regulations[137]. - The company has established a remuneration and assessment committee to oversee the remuneration policies for directors and senior management[135]. Environmental and Social Responsibility - The company does not belong to any heavily polluting industries and has no environmental pollution issues during its operations[167]. - The company has implemented measures to reduce carbon emissions, including energy-efficient equipment procurement and waste classification[170]. - The board of directors has approved the 2021 social responsibility report, emphasizing the company's commitment to ESG management[166]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 20% to 1.8 billion[14]. - The company has set a future outlook with a revenue guidance of $2 billion for the next fiscal year, indicating a growth of 20%[132]. - Continuous R&D investment will focus on upgrading the next generation of intelligent chip products and developing intelligent driving chips to align with the global automotive market's electrification and intelligence transformation[113].