Summary of Conference Call Company Overview - The conference call pertains to **China Chuangda**, a technology company involved in various sectors including automotive, AI, and robotics. Key Financial Metrics - For the first three quarters of 2023, the company reported: - **Revenue**: 3.694 billion CNY, a decrease of **4.7%** year-over-year [1] - **Net Profit**: 152 million CNY, a decrease of **74.9%** year-over-year [1] - In Q3 2023, the company achieved: - **Quarterly Revenue**: 1.294 billion CNY, an increase of **5.8%** quarter-over-quarter [2] - **Gross Margin**: 35.82%, up approximately **2 percentage points** from the previous quarter [2] - **Net Profit for Q3**: Approximately 50 million CNY, a growth of nearly **250%** quarter-over-quarter [2] Strategic Initiatives - The company is focusing on **global expansion**, establishing overseas sales and R&D centers, which have shown significant results [1][2]. - Investment in **key areas** such as vehicle operating systems, industrial robotics, and intelligent edge computing continues to grow [1]. Industry Trends and Innovations - The rapid development of **AI** is highlighted, with the company leveraging AI technologies in its products and services [4][5]. - The company is developing **AI agents** capable of autonomous actions, reasoning, and decision-making [6]. - The automotive sector is transitioning from software-defined vehicles to AI-defined vehicles, necessitating strong computational power and AI integration [8]. Product Development - The company launched **DishOS** in April 2023, integrating cockpit and driving systems into a unified intelligent system [8]. - Collaborations with major automotive manufacturers, including **Hyundai**, are ongoing to enhance smart vehicle technologies [10]. - The company is also focusing on **robotics**, with a new subsidiary established to enhance its capabilities in industrial robotics [12][22]. Market Dynamics - The overseas business is experiencing growth, particularly in the automotive sector, with significant opportunities in Europe, Japan, and North America [20]. - The company is actively pursuing partnerships with leading internet firms and chip manufacturers to enhance its product offerings [7][14]. Future Outlook - The company anticipates continued growth in the **smart automotive** and **robotics** sectors, with a focus on long-term development rather than short-term metrics [22][39]. - The integration of AI across all business lines is expected to drive future growth, with a commitment to innovation and market responsiveness [36]. Additional Insights - The company maintains a strong focus on **collaboration** with chip manufacturers, enhancing its software capabilities and product offerings [17][18]. - The establishment of a new **inspection robot company** aims to expand its footprint in the robotics market, leveraging local technological advancements [32]. This summary encapsulates the key points discussed during the conference call, highlighting the company's financial performance, strategic initiatives, industry trends, product developments, market dynamics, and future outlook.

证券研究报告 行业应用软件 买入-A 投资评级 维持评级 6个月目标价 66. 86 元 股价 (2024-10-29) 58. 02 元 交易数据 12个月价格区间 32.3/88.31 元 2024 年 10月 30 日 中科创达 (300496. SZ) Q3 环比出现改善,整体仍处于战略调整期 目事件概述 10 月 28 日,中科创达发布 2024 年第三季度报告。2024 年前三季度 公司实现营业收入36.94亿元,同比下降4.70%;实现归母净利润1.52 亿元,同比下降74.92%,扣非归母净利润1.27亿元,同比下降75.98%。 目Q3 环比出现改善，整体仍处于战略调整期 收入端,公司在战略调整期基本维持了营收的稳定,单Q3实现营收 12.94亿元,环比增长5.8%。根据中报,公司的智能汽车业务与智能 物联网业务保持增长,智能软件业务受制于下游手机行业的需求恢复 较慢以及公司主动对承接的项目进行了筛选,对总营收形成了较大拖 。 BK: 利润端,Q3 环比出现改善,实现归母净利润 4759.83 万元,环比增 长 249.72%。1）单 Q3 毛利率为 35.82%,环比提升约 2pcts, ...

中科创达（300496.SZ） IT 服务Ⅱ 证券研究报告/公司点评报告 2024 年 10 月 29 日 执业证书编号：S0740524030002 Email：sunxz@zts.com.cn | --- | --- | |-------------------|-----------| | | | | 基本状况 | | | 总股本 (百万股) | 460.01 | | 流通股本(百万股 ) | 367.04 | | 市价(元 ) | 58.02 | | 市值(百万元 ) | 26,689.90 | | 流通市值 (百万元) | 21,295.55 | 中科创达：24Q3 环比改善，坚定"端侧智能+OS"布局战略 | --- | --- | --- | --- | --- | --- | |---------------------------|-------------|------------------------------------------|-------|-------|-------| | 公司盈利预测及估值 \n指标 | 2022A | 2023A | 2024E | 2025E | ...

Investment Rating - Strong Buy (Maintained) [2] Core Views - The company's single-quarter performance has improved significantly, with the Drip OS ecosystem continuing to mature [2][5] - The industrial robot business is rapidly expanding, with related orders already secured [5][6] - The Drip OS ecosystem is continuously improving, empowering the development of the intelligent automotive business [5] Financial Performance - Revenue for the first three quarters of 2024 was 3.694 billion yuan, a year-on-year decrease of 4.7% [4] - Net profit attributable to the parent company for the first three quarters of 2024 was 152 million yuan, a year-on-year decrease of 74.92% [4] - In the third quarter of 2024, revenue was 1.294 billion yuan, a quarter-on-quarter increase of 5.8%, with a gross profit margin of 35.82%, up by approximately 2 percentage points [5] - Net profit attributable to the parent company in the third quarter of 2024 was 47.5983 million yuan, a quarter-on-quarter increase of 249.72% [5] Business Development - The company is actively advancing in vehicle operating systems, industrial robots, and edge intelligence, while expanding its global business [5] - The Drip OS, an AI-native vehicle operating system, was globally launched in April 2024, integrating cockpit, intelligent driving, and cabin-driving fusion [5] - The company has established strategic partnerships with Dirac, integrating Dirac's patented audio digital technology into the Drip OS ecosystem [5] - The company's robot business is rapidly developing, with the establishment of Xi'an Longxing Zhixun Technology Co Ltd, focusing on the R&D and application of industrial robots [6] Financial Forecasts - Adjusted forecasts for 2024-2026: net profit attributable to the parent company is expected to be 334 million yuan, 457 million yuan, and 591 million yuan, respectively [7] - EPS for 2024-2026 is projected to be 0.73 yuan, 0.99 yuan, and 1.28 yuan, respectively [7] - PE ratios for 2024-2026 are estimated at 80.0x, 58.4x, and 45.2x, respectively [7] Industry and Market Position - The company operates in the computer industry, with a total market capitalization of 26.7 billion yuan [1] - The company's Drip OS is positioned as a core system for vehicle intelligence, with a growing global ecosystem [5] - The company's robot business is seen as a significant industrial track, with rapid development and order acquisition [5][6]

Investment Rating - The report maintains a "Recommended" rating for the company [5]. Core Views - The company has shown improvement in net profit compared to the second quarter, despite facing pressure from sales and R&D investments [2][3]. - The company is actively advancing its three main business lines: vehicle operating systems, industrial robots, and edge intelligence [3]. - The strategic focus on "operating systems + edge intelligence" is expected to drive significant growth across various sectors, including automotive and robotics [3]. Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 36.94 billion yuan, a year-over-year decrease of 4.7%. The net profit attributable to shareholders was 1.52 billion yuan, reflecting a year-over-year increase of 74.92%, while the net profit after deducting non-recurring items was 1.27 billion yuan, down 75.98% [2][3]. - In Q3 2024, the company reported revenue of 12.94 billion yuan, a quarter-over-quarter increase of 5.8%, with a gross margin of 35.82%, up approximately 2 percentage points [3]. - The projected net profits for 2024-2026 are estimated at 2.12 billion yuan, 5.32 billion yuan, and 7.85 billion yuan, respectively, with corresponding P/E ratios of 126X, 50X, and 34X [3][4].

证券研究报告 | 季报点评 gszqdatemark 2024 10 29 年 月 日 中科创达（300496.SZ） 三季报收入维持平稳，毛利率边际回暖带来经营改善 事件：2024/10/28 晚间，公司发布 2024 三季报。2024 年前三季度，公 司实现营业收入 36.94 亿元，同比减少 4.7%，归属于上市公司股东的净 利润 1.52 亿元，同比减少 74.92%。 收入维持平稳，公司创收能力稳健依旧。2024 年前三季度，公司实现营业 收入 36.94 亿元，同比减少 4.7%。虽然营业收入同比微减，但在当前全 球宏观经济局势下维持了大体的平稳，体现出了公司在智能物联赛道内稳 健的创收能力。 毛利率环比回暖，体现公司经营改善。2024 单三季度，公司销售毛利率达 到 35.82%，环比 2024 单二季度提升接近 2 个 pct。毛利率是经营环境、 竞争格局、下游景气度等因素的综合体现，毛利率的边际回暖，体现出公 司的经营改善。 研发费用率持续高企，为利润端带来边际压力，同时也为公司长期发展打 下坚实技术基础。2024 单三季度，公司研发费用率达到 22.29%，相比 2023 年单三季度同期， ...

中科创达软件股份有限公司 2024 年第三季度报告 证券代码：300496 证券简称：中科创达 公告编号：2024-079 中科创达软件股份有限公司 2024 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 中科创达软件股份有限公司 2024 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------|-- ...

Q：在当前 AI 和机器人产业发展的背景下，公司如何看待混合 AI 和端侧智能的 应用？ A：我们坚信随着 AI 的发展，混合 AI 和端侧智能将在操作系统与 AI 及芯片的 结合中产生众多新生场景。尤其在端侧部署上，操作系统技术能带来新的价值增 值空间。例如，AI 手机作为 AI 在端侧应用的重要方向，随着政策部署和智能手 机需求的增长，预计 AI 手机将在未来几年实现超过 300%的增长，推动研发需 求不断出现。 Q：AI 手机的发展前景如何，将如何影响未来手机的研发需求？ A：AI 手机的发展前景广阔，随着换机潮和 AI 手机技术的成熟，未来手机的研 发需求有望逐渐恢复和发展。AI 手机能带来实时语音识别、视频会议、单语言 助手等功能的提升，这些都将增加手机领域的软件研发需求。 Q：AI 在物联网领域有哪些具体应用和推动作用？ A：AI 在物联网领域的应用加速了泛物联网设备的发展，如 AR/VR/MR 设备、 视频会议设备、可穿戴产品以及 AIPC 等产品。AI 能力在物联网平台端侧的部署， 结合边缘计算、云平台等技术，能够激活整个物联网产业，并创造出更多创新产 品品类。例如，在 AR 眼镜领域，我们提 ...

我们也非常有幸邀请到了中科上达的Rick董来给咱们做一个公司相关的这么一个分享那下面先有请Rick董介绍一下公司近期的经营情况吧哎 好的 哎 那个 同学好 那个各位投资者好 我是中科上达的Rick感谢这个国生的邀请啊 来参加这个线上交流会我的声音清楚吧 那个嗯 很清楚 很清楚 好的好的那我就用一点时间来概要的说一下最新的这个一些产业的情况还有的创达的这个最新的一些应用情况吧跟各位汇报一下那实际上我们可以看到就是现在AI也好或者是整个机器人能源应该是产业发展非常迅速就是前两天那篇那个特斯拉发布的这个微robot这么一个大会里边也展出了很多经验的这种产品像这样那个人形机器人的 这块的发展还包括像Rover Taxi这块端到端自动驾驶这块我们看到很多今年的技术另外就是前一段OpenAI发布的O1这么一个模型其实也是应该说在对复杂任务的处理解决比以前可能像科学编码数学模型更难的问题得到更好的效果 实际上像O1这个系列模型的话在这个强化学习这个包括这个大模型Scaling Mode方面开启了一个很多这个新的范式但实际上随着这个AI发展来讲呢实际上要在端测部署的话我们讲述强调的是混合AI和端测智能这样的话呢操作系统跟 A ...

证券代码：300496 证券简称：中科创达 公告编号：2024-078 第四个归属期归属结果暨股份上市的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次归属限制性股票上市流通日为2024年10月17日。 2、本次归属限制性股票数量812,125股，占归属前公司总股本的0.18%。 2、本次归属限制性股票人数151人。 4、本次归属限制性股票来源为公司向激励对象定向发行公司A股普通股股票。 中科创达软件股份有限公司（以下简称"公司"）于2024年10月11日召开第五届 董事会第三次会议和第五届监事会第三次会议，审议通过了《关于公司2020年限制性 股票激励计划第四个归属期归属条件成就的议案》。近日公司办理了2020年限制性股 票激励计划第四个归属期归属股份的登记工作，现将有关具体情况公告如下： 中科创达软件股份有限公司 关于公司 2020 年限制性股票激励计划 一、2020 年限制性股票激励计划实施情况概要 （一）股权激励计划简介。 2020 年 8 月 13 日，公司第三届董事会第二十次会议审议通过了《关于公司<2020 年限制性 ...