C*Core Technology(SH:688262)2023-04-27 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year increase of 15%[13]. - The company's operating revenue for 2022 was ¥524,830,632.70, representing a year-on-year increase of 28.83% compared to ¥407,386,798.41 in 2021[22]. - Net profit attributable to shareholders of the listed company was ¥76,912,125.34, a year-on-year increase of 9.55% from ¥70,204,594.27 in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 79.43% to ¥9,009,171.75 from ¥43,801,025.88 in 2021[22]. - The net cash flow from operating activities decreased by 402.60%, resulting in a negative cash flow of ¥253,920,702.67 compared to a positive cash flow of ¥83,914,165.90 in 2021[22]. - The company's total assets increased by 2.38% to ¥3,048,612,142.41 at the end of 2022, up from ¥2,977,711,602.83 at the end of 2021[22]. - The company achieved operating revenue of ¥524,830,632.70, representing a year-on-year growth of 28.83%[172]. - Operating costs increased by 58.75% to ¥304,287,584.44, primarily due to rising wafer costs from major suppliers[172]. - The company reported a net cash outflow from investment activities of ¥824,128,574.79, mainly due to investments in structured financial products[172]. Research and Development - The company is investing RMB 200 million in R&D for new semiconductor technologies in the upcoming fiscal year[13]. - Research and development expenses increased by 70.11% compared to the previous year, reflecting the company's focus on high-end automotive electronic chips and high-reliability storage chips[26]. - The proportion of R&D investment to operating revenue increased by 7.04 percentage points to 29.00% in 2022 from 21.96% in 2021[24]. - The company achieved a significant increase in R&D investment, totaling approximately ¥152.20 million in 2022, a 70.11% increase from ¥89.47 million in 2021[148]. - R&D expenses accounted for 29.00% of the company's revenue in 2022, up from 21.96% in the previous year, reflecting an increase of 7.04 percentage points[148]. - The company has increased its R&D personnel and optimized the structure, enhancing its R&D capabilities to meet market demands[91]. - The company has made significant progress in the development of high-end domain control chips and safety chips for automotive applications, with several products nearing mass production[142]. Product Development and Innovation - New product launches are expected to contribute an additional RMB 300 million in revenue in 2023[13]. - The introduction of AIoT solutions is expected to drive innovation and open new revenue streams[13]. - The company has successfully developed three automotive safety chip products: CCM3320S, CCM3310S-H, and CCM3310S-T, forming a product series across high, medium, and low tiers, with CCM3310S-T and CCM3310S-H already in mass production[49]. - The company is developing high-end domain controller chips CCFC3008PT and CCFC3009PT, with the design of CCFC3008PT expected to be completed in Q1 2023[47]. - The company has launched a series of high-performance edge computing chips, including 32-bit and 64-bit options, achieving domestic alternatives to NXP's products[112]. - The company has developed a comprehensive range of automotive electronic chips across seven product lines, addressing various applications in both traditional and new energy vehicles[110]. - The company is developing the second generation of its high-performance RAID controller chip, CCRD4516, expected to tape out in Q3 2023, aiming to match the performance of international mainstream RAID chips[115]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[13]. - The company is actively expanding its market presence in automotive electronics and has significantly increased its customer base, contributing to revenue growth[22]. - The company has established strong partnerships with over 10 Tier 1 module manufacturers and major automotive brands, enhancing its market influence[44]. - The company is positioned as a leader in domestic automotive powertrain control chip development, with few competitors in the market[156]. Financial Management and Investments - The company plans to distribute a cash dividend of 2.50 CNY per 10 shares (including tax) and will increase capital reserves by 4 shares for every 10 shares held[1]. - The profit distribution and capital reserve increase plan has been approved by the board and will be submitted for shareholder approval[1]. - Government subsidies received accounted for 7.92% of the company's operating revenue and 63.18% of its total profit[169]. - The company invested a total of 5,000,000 CNY in Hefei Silizhen Chip Technology Co., Ltd., acquiring a 5.26% stake focused on quantum encryption and optical quantum computing R&D[86]. - The company holds a 3% stake in ZhiHui Microelectronics (Nanjing) Co., Ltd. with an investment of 4,980,000 CNY, which specializes in GPU chip R&D and industrial applications[86]. Challenges and Risks - The company faces risks related to core technology leakage and talent loss, which could adversely affect its market competitiveness[151]. - The global data volume is projected to grow from 33ZB in 2018 to 175ZB by 2025, highlighting the increasing importance of data security and the domestic market potential for data security chips[132].