Securities code: 3Peak Incorporated(688536) securities abbreviation: 3Peak Incorporated(688536)
3Peak Incorporated(688536) microelectronics technology (Suzhou) Co., Ltd
Registration form of investor relations activities
March 2022
Investor relations
Specific object research
Activity category
[ Gf Securities Co.Ltd(000776) ] Xu Xingjun, etc; [ China International Capital Corporation Limited(601995) ] Shi Xiaobin, Yang Xiaoyu, etc; [Minsheng securities] Fang Jing, etc; [ China Securities Co.Ltd(601066) Fund] Yang Guang; [ Orient Securities Company Limited(600958) ] Jiang Zhou, etc; [Oriental alpha Fund] Yin Zhibin et al; [Boshi Fund] Zeng Peng et al; [Bodao Fund] Gong Yaomin and others; [BAOYING Fund] Yang siliang; [Zhongrong Fund] Zhang Qiwen et al; [People’s endowment insurance of China] Kuang Heng; [ China Life Insurance Company Limited(601628) asset management] Zhang Lingwei and others; Zhang Shijie fund; [Furong Fund] Li Yanzheng; [Debang Fund] Lei Tao et al; [Everbright Prudential Fund] Yang Yifei and others; [Huaxia Fund] Shi Yanpeng and others; [HSBC Jinxin] Chen Pingping; [huitianfu Fund] Li Lingyu, Lao jienan, etc; [Harvest Fund] Zhuo Jialiang, Xie Zelin, etc; [bocom Schroeder Fund] Yang Moran et al; [Nanfang Fund] Chen Zhuo et al; [Shanghai Gaoyi asset management] Sun Qingrui et al; [Shanghai chaos investment] Yang Hongda et al; [Taiping asset management] Qin Yuanyuan and others; [Taixin Fund] Dong Jizhou, etc; [Taikang asset management] Lei Ming, etc; [CITIC Prudential Fund] Yang Liuqing, et al; [Galaxy Fund] Zuo Lei et al; [Schroeder Fund] song Jingyi et al; [Shenzhen wangzheng asset management] horsepower, etc; [name of Shanghai Ivy participating unit]
[asset management] Cheng Xiyun; [financing fund] Li Jin; [Goldman Sachs asset management] Li Renjie; [CDH Investment Consulting – Jiancheng and name of personnel
Long A-share Fund] Pan Yi; [ Caitong Securities Co.Ltd(601108) investment management department] Zhang Su; Liao Weixin; [Industrial Fund] Xiao bin et al; [Cinda Aoyin] Ma Qiwen; [Xinhua Fund] Fu Wei et al; [Shanghai Bank Fund] Lu Yang et al; [Shanghai Investment Morgan Fund] Huang Jin et al; [ Guotai Junan Securities Co.Ltd(601211) asset management] Zhang Xin; [Pengyang Fund] Hu Ying et al; [Nord Fund] Liu Xianzheng and others; [Nanhua Fund] Liu Fei; [noan Fund] Liu Huiying; [Huatai Bairui Fund] LV Huijian; [Jingshun Great Wall] Liu Lisi; [Wells Fargo Fund] Wang Jiachen and others; [Cathay Pacific Fund] Zhang Yang et al; [Hillhouse Capital Management Limited] surplus height; [smam Sumitomo Mitsui Investment Management (Hong Kong) Co., Ltd.] Yang Lutao; Samsung Asset Management (Hong Kong) LimitedElsa Cheng； LMR Partners LimitedFrancis Ying； [ubi-u access China convertible bond] Song Jia; [Schroder investment mangement Limited] Li Wenjie; Ariose China Growth FundLi Robin； [Green Court capital] Ke Wei et al; [Neuberger Berman Singapore pte.limited] Ke
Zi Cong; [pinpointasset Management Limited] Zheng Tian Tao et al
Time: March 2022
Communication mode: online communication
Place: company conference room
Reception of listed companies
Secretary of the board of directors: Li shuhuan
Personnel name
The company’s 2021 annual report was disclosed according to law on March 14, 2022. After the disclosure of the annual report, the company communicated with relevant investors in various ways, and held a 2021 annual performance and cash dividend explanation meeting on the platform of Shanghai Securities roadshow center on March 30, 2022 to further communicate with investors. The relevant information is summarized as follows:
1、 Introduction to operation in 2021
(I) main business conditions in 2021
In 2021, the company achieved an operating revenue of 13259489 million yuan, a year-on-year increase of 134.06%. Among them, the sales revenue of signal chain products was 10277182 million yuan, a year-on-year increase of 88.63%; The sales revenue of power management products was 2982307 million yuan, a year-on-year increase of 127627%. In the year of investor relations in 2021, the company’s revenue from signal chain products accounted for 77.51%, and the revenue from power management products increased, mainly to 22.49%.
In 2021, the net profit attributable to the shareholders of the listed company was 4435356 million yuan, a year-on-year increase of 141.32%; Excluding the impact of share based payment expenses, the net profit attributable to shareholders of listed companies was 5867094 million yuan, a year-on-year increase of 180.41%.
In 2021, the gross profit margin of the company’s signal chain chip products was 63.48%, an increase of 0.98 percentage points over the same period last year; The gross profit margin of power management products was 50.37%, an increase of 21.13 percentage points over the same period last year.
In 2021, the comprehensive gross profit margin was 60.53%, a decrease of 0.7 percentage points over the same period of last year.
In 2021, the company’s R & D investment totaled Ningbo Hengshuai Co.Ltd(300969) 1 million yuan, with a year-on-year increase of 145.60%. The R & D investment accounted for 22.70% of the current revenue, with a year-on-year increase of 1.07 percentage points. The number of R & D technicians of the company increased to 275, with a year-on-year increase of 95.04%; R & D technicians accounted for 69.62% of the company’s total employees, an increase of 4.04 percentage points year-on-year. R & D technicians
Among them, the number of people with master’s degree or doctor’s degree accounted for 70.18%, an increase of 12.02 percentage points year-on-year.
(II) long term development strategy of the company
1. Continue to consolidate the company’s signal chain product line, continue to develop multi category signal chain products, and narrow the product category and quantity gap with international friends;
2. Further expand the power management product line, maintain the same resource investment as the signal chain, continuously enrich product categories, accelerate customer coverage, and promote the balanced development of the overall income structure; 3. Vigorously invest resources to develop the underlying IP and product capabilities such as vehicle regulation and isolation, and expand the digital analog hybrid design capabilities such as embedded processor and analog front-end, so as to lay the underlying technical foundation for the company’s future product development and accumulate long-term competitiveness;
4. Continue to expand the R & D technical team, attract and cultivate more excellent technical talents, and do a good job in talent reserve for the company’s long-term competition in the simulation industry;
5. Strengthen cooperation with existing suppliers, continue to promote the evaluation and introduction of new suppliers, strengthen capacity guarantee and maintain the long-term security of the supply chain.
2、 Main contents of investor exchange
(I) about signal chain products
1. Reasons for the continuous decline in the gross profit margin of the company’s signal chain business from 2019 to 2021
From 2019 to 2021, the gross profit margin of the company’s signal chain products is about 60%, which is relatively stable. At present, the gross profit margin of the company’s signal chain products has been at a relatively competitive level among Chinese enterprises, and is constantly trying to narrow the gap with international leading enterprises. According to the public data, the comprehensive gross profit margin of international leading enterprises Texas Instruments and adeno from 2019 to 2021 is about 65%, and there will be some fluctuations between the annual gross profit margins.
The gross profit margin of the company’s signal chain products in each year is mainly affected by the following factors:
(1) Supply side capacity shortage and price changes. The company’s cost is mainly composed of wafer and sealed test. If the above costs rise due to capacity shortage at the supply side, it will have an impact on the gross profit margin of the product;
(2) Downstream market composition and demand. At present, the company’s products are mainly used in the field of Pan communication and pan industry, and specifically involve many subdivided application markets. Each market segment has different requirements for the performance of applied products, and the gross profit margin of products is also different. Therefore, the market demand of each application
And the proportion of products sold will affect the gross profit margin of signal chain products;
(3) New product launch efficiency and overall product structure. At present, the company’s signal chain products are mainly composed of linear, interface and converter products. The company will integrate client demand and capacity resource allocation, carry out product definition and R & D, arrange the launch rhythm of new products (which can generally achieve better gross profit margin), and dynamically adjust the structure of products on sale.
2. The company’s future development plan for signal chain chip business
In 2021, the sales revenue of the company’s signal chain products was 10277182 million yuan, a year-on-year increase of 88.63%, and the business scale was further expanded. However, there is still a huge gap between the company and international leading enterprises in terms of product categories, product models, quantity and income scale.
In the future, the company will further consolidate the signal chain product line in the following aspects: (1) continue to develop multi category signal chain products and narrow the product category and quantity gap with international friends; (2) Continue to expand the R & D technical team, attract and cultivate more excellent technical talents, and reserve talents for long-term competition; (3) Continue to promote the technology accumulation and development of embedded processor, vehicle regulation and isolation, gradually integrate with signal chain products, and strive to provide customers with more differentiated digital analog hybrid products; (4) Strengthen cooperation with existing suppliers, continuously promote the evaluation and introduction of new suppliers, and provide more solid capacity guarantee for business development; (5) Rely on more abundant product models, grasp the good development opportunities brought by domestic substitution, continue to vigorously expand the Chinese market, improve market coverage, broaden product applications and enhance customer stickiness; (6) In addition, the company will actively look for extension development opportunities and timely promote relevant industrial investment and M & A.
(II) about power management products
1. Revenue composition of power management products in 2021
In 2021, the revenue of power management products was mainly contributed by linear power supply, power monitoring and motor drive products. Among them, linear power supply accounts for about 87%, and the other two account for about 13%.
2. Gross profit margin of power management products
In 2021, the gross profit margin of power management products was 50.37%, an increase of 21.13 percentage points year-on-year. The main reason is that with the introduction of new power products, the sales volume of high-performance products increased, which improved the overall structure and gross profit margin of power management products.
3. Revenue growth and development planning of power management products
In 2021, the revenue of power management products increased by 127627% year-on-year, which is mainly due to the preparation and Cultivation in this field in previous years. The high growth rate is mainly due to the small revenue base in 2020. In the future, with the increase of the comparative base, the revenue growth rate will gradually return to a stable level.
In the future, the company will continue to maintain the resource investment in the power management product line and carry out the research and development of power management products around the following aspects: linear power supply, general DC-DC switching power supply, PMIC, digital polyphase power supply, battery management system, etc.
(III) about embedded processor Division
In 2021, the company established the embedded processor business department and invested heavily in team building. At present, the team has personnel layout in R & D centers in Tianjin, Shanghai and other places. In the future, the company will continue to introduce excellent talents around product planning. At present, the Department is still in the early stage of technology development and IP accumulation.
The establishment of embedded processor division is in line with the company’s long-term development strategy. It can gradually integrate embedded processors on the basis of signal chain and power supply analog chips, launch various digital analog hybrid products for specific applications, further enrich product categories and provide customers with more comprehensive solutions. The above digital analog hybrid products have a good customer base, which can help the company make more full use of existing customer resources, more comprehensively meet customer needs and enhance customer stickiness.
(Ⅳ) vehicle regulation and isolation technology
1. Technical progress of vehicle gauge
Automotive electronics is one of the three tracks that the company will focus on for a long time, and vehicle specification technology is a platform that the company will continue to invest resources in development
