It is worth mentioning that since China National Micro has landed on the ChiNext on July 12, 2017, the performance of the secondary market has attracted the attention of investors. The company has been listed for less than a year, with the period up to 825%. As of May 11 At the close, Guoke Micro reported 60.91 yuan per share, which was more than six times higher than the issue price.
R&D expenses of 132 million yuan
Accounted for over 30% of revenue
According to the statistics, Guokewei was established in 2008. It is the first integrated circuit design company actually injecting capital from the National Integrated Circuit Industry Investment Fund. It is also a national high-tech enterprise and an integrated circuit design company certified by the Ministry of Industry and Information Technology. Design, R&D and sales of large-scale integrated circuits.
According to National Bureau of Technology micro-secretary Huang Ran told the "Securities Daily" reporter, the company has long been committed to radio and television, security monitoring, solid-state storage, Internet of Things and other areas of large-scale integrated circuit design and solution development. The company will be 20% to 30 per year About half of the sales revenue was used for research and development, and successively undertook a series of major scientific research projects such as national major science and technology projects, the National Torch Program, and the technological development of strategic emerging industries in Hunan Province, and accumulated a large amount of intellectual property rights in advanced process engineering.
According to public information, from 2015 to 2017, Guoke Micro R&D expenditures were 88.1964 million yuan, 106 million yuan, and 113 million yuan respectively, which accounted for 24.02%, 21.77% and 31.97% of the operating revenue respectively. It is worth mentioning that In 2017, Guoke Micro R&D expenditure reached a new high, which was an increase of 10.2 percentage points over the same period of the previous year.
According to the 2017 annual report, the revenue and profits of China National Science and Technology Co., Ltd. tend to balance. In the report period, the company achieved a total operating income of 412 million yuan, a year-on-year decrease of 15.8%; and a net profit of 52,644,800 yuan, an increase of 3.01% over the same period. R&D investment has an impact on the current performance, but from the perspective of the company’s historical product development process, it is a painful process.
According to Huang Ran's introduction, the company has successively launched a series of decoding chips supporting NDS advanced security, H.265 high-definition chips, high-end audio chips, high-end solid-state storage control chips, high-definition security monitoring chips, and a series of core autonomous knowledge. The chip of property rights, the above-mentioned part of the chip has filled the domestic blank in many fields, to achieve import substitution.
ZTE Incident
Accelerating the 'China Core' process
Since the Sino-U.S. trade friction and the ZTE incident, the localization process of the chips has accelerated significantly. Huang Ran said that the ZTE event further strengthened the company’s determination to take independent research and development roads and build the nation’s integrated circuit industry.
In January 2016, Guoke Microelectronics released GK2301, the first high-performance solid-state storage controller chip in China, which was completely autonomous and controllable. It broke the monopoly of foreign chip manufacturing companies and became China's first domestic information security assessment center. The National Cryptography Administration Double certification, completely owning independent intellectual property products.
The "Securities Daily" reporter learned from the company that the GK2301 repeatedly hit the wall in the early stage of the market, but eventually succeeded in opening the market gate with its excellent performance.
Mr. Zhang Baijian, CEO of Hunan National Branch Storage Technology Co., Ltd., told the reporter that the company’s marketing team had run more than 20 SSD manufacturers in the first four months, but these manufacturers did not dare to easily replace foreign chips that had been in cooperation for a long time. Zhang Baijian finally decided to let the manufacturer try it for free. After four months of testing, the manufacturer found that the indicators of the GK2301 are the same as those of foreign chips, and the data encryption level is even better. In the end, this domestic chip successfully tore long-term import monopoly. Solid-state memory chip market gap.
It is understood that GK2301 has been successfully mass-produced in 2017 and plans to fully enter the consumer market. 'At present has begun shipping in some areas, although the total is not large, but a very good start.' Zhang Baijian revealed that the GK2301 Upgraded version is also under development, data transmission speed will be significantly higher than GK2301.
"Homegrown chips started relatively late, and high-end chips in certain fields still need to be broken. This is an indisputable fact. In recent years, the pace of development of our country's integrated circuit industry has been very fast, and we have achieved very good results in many areas. But from the entire industry Looking at the chain, we still need a huge investment. We have a long way to go, and the localization process is still from the low end to the high end. The process is gradually advancing. Huang Ran told the “Securities Daily” reporter that in the future, the company will increase technology research and development to continuously improve product competition. 3. We will work hard to promote the localization of the chip.