① Juxin Technology said that the macroeconomic economy slowly recovered in 2023, market demand in the consumer electronics industry picked up, orders from downstream customers increased, and leading domestic and foreign brand customers were introduced in various product lines. ② Juxin Technology's AI chip layout has received market attention. According to the annual report, the company's latest generation of high-end AI audio chips based on SRAM memory calculation is now on the market.
“Science and Technology Innovation Board Daily”, March 26 (Reporter Guo Hui) Juxin Technology released its 2023 annual report on the evening of March 25. Financial reports show that last year, the company achieved operating income of 520 million yuan, a year-on-year increase of 25.41%, net profit to mother of 65.586 million yuan, an increase of 21.04% year-on-year, after deducting non-net profit of 51.126 million yuan, an increase of 64.16% over the previous year, with a basic income of 0.53 yuan per share. The company also announced that it plans to distribute a cash dividend of 2 yuan for every 10 shares to all shareholders, and to transfer 2 additional shares for every 10 shares.
Regarding changes in performance, Juxin Technology said that it is mainly due to the slow macroeconomic recovery in 2023, market demand in the consumer electronics industry picked up, and orders from downstream customers increased. At the same time, the company actively promoted scenario-based product layout and development, injected new vitality into wireless audio solutions with low latency and high sound quality technology, and achieved the introduction of leading domestic and foreign brand customers in various product lines.
Specifically, the penetration rate of Juxin Technology's leading brands in the Bluetooth speaker market continues to increase, and revenue from the Bluetooth speaker SoC series is growing rapidly. At the same time, the company is developing diversified products, and various new products continue to be released. Low-latency wireless audio products are recognized by the market. Smartwatch products have performed well, and sales revenue from new products has increased dramatically.
The product structure of Juxin Technology continues to be optimized. The annual report shows that the company's unit sales cost decreased last year, and the share of sales of high-margin products increased. The gross profit margin of the main business was 43.69%, an increase of 4.45 percentage points over the previous year.
Furthermore, the annual report also shows that the net cash flow from Juxin Technology's operating activities last year was 155 million yuan, and the net cash flow from operating activities turned negative. According to the company, due mainly to sufficient preparation in the early stages and a decrease in raw material purchases in the current period, the purchase price paid was drastically reduced compared to the same period; at the same time, the increase in sales in the current period and the timely sales repayment was relatively timely, which led to an increase in the amount recovered from the products sold.
In terms of product marketization progress, in 2023, Juxin Technology's first-generation smartwatch chip ATS3085C/85L/85 was rapidly released in domestic and foreign markets, and used as the main control chip in various terminal watch models of brand customers such as Xiaomi, Honor, and Realme. The company revealed that the product's shipment volume exceeded 10 million levels last year. At the same time, Juxin Technology also released the ATS3085E/S and ATS3089X series of second-generation smartwatch chips last year. Currently, terminal products are on the market in batches.
Juxin Technology's layout in terms of AI chips has also received market attention. Last year, the company gradually and rapidly upgraded its SoC chip to a three-core AI heterogeneous core architecture based on CPU, DSP, and NPU. Juxin Technology said in its annual report that the company's latest generation of high-end AI audio chips based on SRAM memory calculations is now being released, and it is expected that in mid-2024, it will be expected to provide sample chips to downstream customers.
Looking ahead to this year's market, Juxin Technology said in an agency survey in February of this year that since 2024, there has been a certain recovery in the overall progress of downstream customer cases, and the company will strive to achieve steady year-on-year growth in revenue scale throughout 2024. “The first quarter is a traditional low season for the electronics industry. Currently, the company's shipping situation is good. The company will maintain close communication with downstream customers and continue to monitor the market situation.”
On the evening of March 25, Juxin Technology also announced the resignation of the company's executive Liu SHUWEI as Deputy General Manager. Currently, it indirectly holds 1.54% of Juxin Technology's shares. According to the prospectus, LIU SHUWEI was born in 1975, a Singaporean national. He graduated from Shanghai Jiao Tong University with a bachelor's degree. He has more than 20 years of experience in R&D, management and operation in the chip design industry. After the company was founded in June 2014, he joined Juxin Technology in September of the same year.