ThunderSoft(SZ:300496)2022-12-07 08:34Company Overview - The company has 2,200 employees, with 90% being R&D personnel [2] - Headquarters located in Beijing, with over 700 employees in the city and branches in multiple global locations [2] - The company focuses on core business development while investing or collaborating in related industries [2] Business Operations - The company is a provider of mobile intelligent terminal operating systems, primarily focusing on Android OS development and technical services [2][3] - Revenue sources include technology development, technical services, and software licensing [3] - Business expansion strategies include industry chain extension and market expansion [3] Industry Positioning - The company connects upstream hardware and semiconductor manufacturers and downstream cloud services and applications [3] - Investments include a mobile security company in Silicon Valley and various hardware enterprises [3] - The company collaborates with major clients like Qualcomm, Intel, and Microsoft for joint technology development [4] Financial Performance - The company has maintained profitability since its establishment, with an average annual revenue growth rate of 34% and net profit growth of 40% [4] - The gross profit margin has remained above 50%, indicating stable growth [4] - R&D investment accounted for 17.5% of revenue in 2014, with expectations for increased investment in 2015 [4] Future Growth Strategies - Future profit growth points include traditional mobile phone markets, automotive systems, and smart hardware [5] - The company aims to enhance core technology investment and expand into emerging markets [4][5] - The "Chuangda 2.0" strategy focuses on transitioning from a service-oriented model to a product-oriented model [6] Market Dynamics - The company faces limited competition in the operating system sector, with no direct comparable listed companies [5] - The mobile intelligent terminal market is shifting towards China, providing growth opportunities [6] - The company is positioned to benefit from the increasing demand for operating systems across various sectors [6] Revenue Model - Revenue is generated through project development fees, licensing fees, and IP sales, with IP accounting for 20-30% of total revenue [6] - The company is transitioning to a model that emphasizes product sales and IP licensing [6] Risks and Challenges - The company has conducted extensive research to mitigate risks associated with investment projects [12] - Collaboration with various automotive and internet TV companies is ongoing, with a focus on expanding market presence [12]