Goke(SZ:300672)2024-04-24 13:07Customer Concentration - The top five customers accounted for a total sales amount of ¥3,971,754,640.06, representing 93.87% of the annual total sales[1] - The first customer contributed ¥2,296,435,010.46, which is 54.28% of the annual sales[1] Sales Performance - The sales amount for the "Ultra HD Smart Display Series" in 2023 was ¥2,594,714,237.16, with a year-on-year increase of 30.67%[2] - The "Smart Vision Series" sales reached ¥1,235,715,531.45 in 2023, reflecting a year-on-year growth of 34.72%[2] - The "IoT Series" products saw a significant decline, with sales of ¥134,506,197.03, down 67.66% year-on-year[2] - The "Solid State Storage Series" products had sales of ¥248,054,919.20 in 2023, with a year-on-year increase of 1.46%[2] - The "Research and Design Services" segment reported sales of ¥18,272,000.00, down 56.11% year-on-year[2] Financial Overview - The company's operating revenue for 2023 was CNY 4,231,262,884.84, representing a 17.38% increase compared to CNY 3,604,899,374.87 in 2022[55] - The net profit attributable to shareholders for 2023 was CNY 96,071,857.13, a decrease of 36.74% from CNY 151,952,455.19 in 2022[55] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 40,980,155.12, down 67.30% from CNY 125,410,741.25 in 2022[55] - The net cash flow from operating activities increased by 63.03% to CNY 889,709,042.63 in 2023, compared to CNY 545,726,219.33 in 2022[55] - The total assets at the end of 2023 were CNY 7,340,270,887.08, a decrease of 13.58% from CNY 8,490,320,099.97 at the end of 2022[55] - The net assets attributable to shareholders at the end of 2023 were CNY 4,120,312,791.48, an increase of 2.46% from CNY 4,021,119,963.69 at the end of 2022[55] - The basic earnings per share for 2023 were CNY 0.4422, down 46.65% from CNY 0.8292 in 2022[55] - The diluted earnings per share for 2023 were also CNY 0.4422, reflecting the same percentage decrease as the basic earnings per share[57] - The weighted average return on net assets for 2023 was 2.36%, a decline of 3.12% from 5.49% in 2022[55] Market Trends - In 2023, China's semiconductor sales decreased by approximately 14% year-on-year, while global semiconductor sales totaled $526.8 billion, down 8.2% year-on-year[62] - The number of integrated circuit design companies in China reached approximately 3,451 by the end of 2023, an increase of 208 companies compared to 2022[65] - The average output value per employee in China's chip design industry was approximately 200.1 million RMB (about 28.6 thousand USD) in 2023[65] - In 2023, China's integrated circuit imports amounted to 479.56 billion units, a decrease of 10.8% year-on-year, with an import value of 245.91 billion RMB, down 10.6% year-on-year[64] Technological Development - The company has developed a range of key technologies, including SoC chip design, video codec technology, and low-power design technology, enhancing its product offerings[68] - The company is actively expanding its IoT business into the wireless LAN chip sector, targeting applications in IPC, TV, and other fields[79] - The company aims to become a "top domestic and world-class" integrated circuit design solution provider, focusing on AI and innovation[79] - The company has invested significantly in core technologies such as ISP, codec, NPU, and low power consumption to enhance product competitiveness in the smart security market[91] - The company is actively exploring new business areas such as satellite communication chips and automotive electronics to drive future growth[104] Product Launches and Innovations - The company plans to launch a new generation of AI-capable 4K products in Q3 2024, enhancing its product lineup in the smart vision sector[91] - The company has successfully introduced its IPTV products to major telecom operators, with software versions completed and large-scale shipments initiated, indicating a potential increase in market share[127] - The company launched the GK63 series for the broadcasting and IPTV operator market, which has entered large-scale production[119] - The company is set to release the GK7605V2 series chip in Q3 2024, enhancing its product lineup in traditional and industry security sectors[108] - The company has completed the development of a new generation of video encoding 4K chips, set to enter mass production in 2024, providing cost-effective security solutions[161] Research and Development - Research and development investment reached CNY 61,248.99 million, an increase of 20.87% year-on-year, indicating a strong commitment to innovation[119] - The company maintains a technical and R&D personnel ratio of 75.90%, emphasizing its focus on talent development[116] - The company has been awarded 94 new patents during the reporting period, including 93 invention patents, showcasing its innovation capabilities[123] - Research and development expenses increased by 9.51% to ¥525,812,766.50 in 2023 compared to ¥480,171,534.67 in 2022, reflecting the company's commitment to innovation[168] Supply Chain and Procurement - The top five suppliers accounted for 87.67% of the total annual procurement amount, with the largest supplier contributing 62.45%[157] - The total procurement amount from the top five suppliers was approximately 2.34 billion yuan[157] Future Outlook - The company is actively exploring new strategies for market expansion and product development to enhance future performance[1] - The company plans to pursue suitable acquisition targets to enhance product competitiveness and market share[105] - The company is focusing on domestic substitution strategies for wireless LAN chips, targeting both mid-to-low-end and mid-to-high-end markets[95] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[190]