VeriSilicon(688521)2024-11-14 07:34Company Overview - Chip原 is a semiconductor company providing platform-based, comprehensive, and one-stop chip customization and IP licensing services, with a focus on six types of processors: GPU IP, NPU IP, VPU IP, DSP IP, ISP IP, and Display Processor IP, along with over 1,600 mixed-signal and RF IPs [2] - The company has developed solutions for various AI applications, including smartwatches, AR/VR glasses, AI PCs, smart cars, and data centers [2] Market Position - Chip原 ranks first in China and eighth globally in the semiconductor IP licensing market, with its licensing revenue ranking sixth worldwide in 2023 [3] - The company’s IP types are among the top ten globally, indicating strong market presence [3] Financial Performance - In Q3 2024, Chip原 reported a revenue of 718 million CNY, a quarter-on-quarter increase of 16.96% and a year-on-year increase of 23.60% [3] - The company signed new orders worth 648 million CNY in Q3 2024, maintaining a high order backlog of 2.138 billion CNY, with 78.26% expected to convert to revenue within a year [3] Growth Areas - Revenue growth in Q1-Q3 2024 was notable in data processing (72.61% YoY), automotive electronics (50.19% YoY), and computing peripherals (42.86% YoY), with respective revenue shares of 22.78%, 10.43%, and 14.27% [4] Technological Advancements - Chip原 is transitioning from SoC to SiP technology, focusing on Chiplet architecture to enhance performance and reduce costs [4] - The company has successfully designed high-end application processors based on Chiplet architecture and is collaborating with industry leaders to develop high-performance AI chips [4] RISC-V Ecosystem Development - Chip原 is actively involved in the RISC-V ecosystem, having established the China RISC-V Industry Alliance with 195 member units as of September 2024 [5] - The company promotes RISC-V applications across various sectors, including consumer electronics and automotive, and has launched initiatives to foster talent in this area [5] Talent Acquisition and Development - As of Q3 2024, Chip原 has 1,799 R&D personnel, accounting for 89.46% of its workforce, emphasizing the importance of talent in the semiconductor industry [6] - The company focuses on recruiting graduates from top universities, with 94% of new hires in 2023 holding master's degrees from 985 and 211 institutions [6]