ThunderSoft(SZ:300496)2024-06-23 11:47Financial Data and Key Indicator Changes - The company's revenue for 2023 was 5,242 million, a decrease of 3.7% compared to 2022, which had a revenue of 5,445 million [6] - Operating profit for 2023 was 428 million, down 44.5% from 771 million in 2022 [6] - Net profit attributable to the parent company for 2023 was 466 million, a decline of 39.4% from 769 million in 2022 [6] - The earnings per share for 2023 was 1.01, down from 1.67 in 2022 [6] - The gross margin for 2023 was 36.9%, compared to 39.3% in 2022 [6] Business Line Data and Key Indicator Changes - The smart software business generated revenue of 1,416 million in 2023, a decrease of 25.12% year-on-year [21] - The smart connected vehicle business achieved revenue of 2,337 million, an increase of 30.34% year-on-year [21] - The smart IoT business reported revenue of 1,489 million, down 15.45% year-on-year [21] - The combined revenue from the smart connected vehicle and smart IoT businesses accounted for 72.99% of total revenue in 2023 [21] Market Data and Key Indicator Changes - The company has a global presence with operations in 43 regions, allowing it to stay ahead of market trends and customer needs [19] - The shift towards AI PCs and the adoption of Arm architecture is becoming a focal point for major manufacturers, indicating a growing market opportunity [34][40] Company Strategy and Development Direction - The company focuses on a "technology + ecosystem" platform development strategy, emphasizing collaboration with leading OS, chip, and AI platform manufacturers [16][19] - The strategic partnership with Qualcomm positions the company favorably in the emerging AI PC ecosystem [34] - The company aims to explore new application scenarios for edge AI, indicating a commitment to innovation and growth in this area [1] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of macroeconomic conditions and significant investments in AI on short-term performance, but remains optimistic about long-term growth prospects [21] - The company plans to continue its focus on the second growth curve (existing business + edge intelligence) and the third growth curve (edge intelligence + innovative business) [1] Other Important Information - The company has implemented a stock incentive plan to align employee interests with long-term growth, with performance targets set for revenue growth over the next three years [19][20] - The company has a strong R&D team of over 11,705 personnel, reflecting its commitment to innovation and technology development [30] Q&A Session Summary Question: What are the expectations for AI PC adoption? - The company noted that the rapid development of edge AI and the introduction of AI PCs by major manufacturers like Microsoft and Qualcomm indicate a significant market opportunity [34][40] Question: How does the company plan to manage the impact of AI investments on short-term performance? - Management emphasized a focus on long-term growth and innovation, despite short-term pressures from increased investments in AI [21] Question: What is the company's strategy regarding partnerships in the AI ecosystem? - The company highlighted its strategic collaboration with Qualcomm as a key advantage in positioning itself within the AI PC ecosystem [34]