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炬芯科技端侧AI新品推广收效 研发费率超32%驱动业绩高增

Core Viewpoint - The company, Juchip Technology, has launched new AI audio chips based on in-memory computing technology, enhancing its competitive edge in the market [1][2]. Group 1: Product Development and Market Performance - Juchip Technology has introduced the ATS323X, ATS286X, and ATS362X product series, achieving significant milestones in promoting its new AI audio products [1][2]. - The ATS323X series has seen rapid adoption following the mass production of the first terminal product by clients, while the ATS286X and ATS362X are being implemented by several leading brand clients [2]. - The stock price of Juchip Technology surged by 13.8% to 57.9 CNY per share on June 19, marking a three-year high, despite a general market decline [4]. Group 2: Financial Performance - Juchip Technology's revenue for 2023 and 2024 is projected to be 5.2 billion CNY and 6.52 billion CNY, reflecting year-on-year growth rates of 25.41% and 25.34% respectively [5]. - The net profit attributable to shareholders is expected to reach 0.65 billion CNY and 1.07 billion CNY for the same years, with growth rates of 21.04% and 63.83% [5]. - In Q1 2025, the company reported revenue and net profit of 1.92 billion CNY and 0.41 billion CNY, showing year-on-year increases of 62.03% and 385.67% respectively [5]. Group 3: Research and Development - Since its listing, Juchip Technology has invested a total of 6.87 billion CNY in R&D, with annual R&D expenses increasing from 1.31 billion CNY in 2021 to 2.15 billion CNY in 2024 [6][7]. - The R&D expense ratio has consistently exceeded 30%, reaching 32.98% in 2024 [6]. - The company holds a total of 337 patents globally, including 300 invention patents, indicating a strong focus on innovation [7].