According to an announcement by the Shanghai Stock Exchange, Haiguang Information Technology Co., Ltd.’s IPO application on the Sci-tech Innovation Board has been accepted.After Loongson, there will be an additional domestic CPU manufacturer on the Sci-tech Innovation Board, or x86 CPU.
Haiguang’s main business is R&D, design, and sales of high-end processors for computing and storage devices such as servers and workstations. Products include Haiguang general-purpose processors (CPU) and Haiguang coprocessors (DCU).
Haiguang CPU is compatible with x86 instruction set, international mainstream operating system and application software, and has been widely used in important industries or fields such as telecommunications, finance, Internet, education, and transportation.
The Haiguang No. 1 and Haiguang No. 2 processors have been commercialized, the Haiguang No. 3 is in the verification stage, and the Haiguang No. 4 is under development.
Haiguang DCU is based on the GPGPU architecture and is compatible with general-purpose CUDA-like environments, international mainstream commercial computing software, and artificial intelligence software. It can be widely used in applications such as big data processing, artificial intelligence, and commercial computing.
Shensuan No. 1 has been produced in small batches, and Shensuan No. 2 is under development.
The prospectus shows that from 2018 to the first half of 2021, Haiguang’s revenue was 48.251 million yuan, 379 million yuan, 1.022 billion yuan, and 571 million yuan, respectively. The net profit attributable to shareholders of the parent company during the same period was respectively-124 million yuan, -82.9046 million yuan, -39,144,500 yuan, -411.768 million yuan, The net profits attributable to shareholders of the parent company after deducting non-recurring gains and losses were -175.0 million yuan, -92.6312 million yuan, -95,190,800 yuan, and -67,749,100 yuan.
Haiguang pointed out that high-end processors belong to the field of capital-intensive and cutting-edge technology. The initial investment in research and development is huge. The main reason for the company’s continuous loss is that the company’s R&D expenditure is large, the amount of share-based payment fees accrued by equity incentives is large, and the amount of share-based payment expenses accrued by equity incentives is large, and for a period of time in the future There may be a risk of continued loss.
During the reporting period, Haiguang’s top five customers wereLenovo, Inspur, New H3C, Asus Computer, etc., The total sales amount accounted for 100.00%, 99.12%, 92.21% and 91.72% of the current operating income.
Haiguang plans to raise 9.148 billion yuan this time, and plans to publicly issue no more than 506 million shares, It is expected to be used in the development of a new generation of Haiguang general-purpose processor, co-processor research and development, and advanced processor technology research and development center construction.
On June 24, 2019, the Bureau of Industry and Security of the U.S. Department of Commerce included Haiguang in the “Entity List” of the U.S. Export Control Regulations, Its purchase and sale of “controlled items” containing a high proportion of US restricted technology will be restricted.
Haiguang said that the upstream of the integrated circuit industry is relatively concentrated. If the Sino-US trade and related fields intensify friction, it may affect the supply of upstream manufacturers to the company, which will be detrimental to the company’s future new product development progress, product process updates, and supply chain guarantees. Influence.
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