ASR(688220)2024-01-12 07:37Group 1: 4G and 5G Chip Development - The company is progressing well with its 4G smartphone chip, expecting gradual mass production in the first half of 2024, marking the year as its entry into the smartphone market [1] - The first 5G eMBB chip is actively being pushed for mass production, while the first 5G RedCap chip has passed verification in Q3 2023, with plans to launch corresponding 5G smartphone chips at the appropriate time [3] Group 2: Market Strategy and Performance - The company aims to balance performance enhancement and cost-effectiveness as it enters a market with established competitors, focusing on user experience improvements [2] - The company has a positive outlook on the long-term growth of the IoT market, despite short-term fluctuations due to economic conditions [3] Group 3: Financial Performance and Projections - For the first nine months of 2023, the company reported revenue of CNY 1.844 billion, a 16.49% increase compared to the same period in 2022 [4] - As of December 31, 2023, the total amount repurchased by the company exceeded CNY 639 million [4] - The company maintains a cautious optimism for revenue growth in 2024, contingent on internal and external economic factors [4] Group 4: Research and Development Costs - The main components of R&D expenses include salaries, wafer costs, and equipment depreciation, with salaries being the largest portion; future R&D expense growth is expected to be manageable [2] Group 5: Market Competition and Pricing - The competitive landscape has led to a significant decrease in gross margins due to price adjustments in response to market challenges, with expectations of continued pressure on gross margins in 2024 [3]