The only player in China to enter the international mainstream server - Pick up technology

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/ 2019-06-13 / News

The star company in the enterprise board accepts the company! Yesterday evening, the company was hailed as "China's most cattle integrated circuit design company" and received a notice from the meeting. According to the Shanghai Stock Exchange, the Science and Technology Board's stock listing committee is scheduled to hold the third listing committee review meeting on June 13 to review the application for the issuance of three companies.

 

How many cows are there? Southwest Securities analyst Chen Hang said in a report that Qiqi Technology is the core chip supplier in the field of "China's only international mainstream server." A senior investor in the chip field told the Shanghai Securities Journal that the technology is indeed a rare and outstanding science and technology enterprise. It is not only a global leader in the field of segmentation, but also one of the makers of international standards.

 

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The technical strength of the technology has been transformed into commercial benefits. According to the prospectus, the company has gradually established an industry leading position in the DDR4 stage with its leading technology level. Operating income was 1.758 billion yuan, net profit was 737 million yuan, and gross profit margin exceeded 70%.

 

Global standard setters for memory interface chips

 

In the eyes of many semiconductor industry experts interviewed by the Shanghai Securities Journal, this is a company that truly competes with world-class companies and has achieved leading edge. 

 

The company's main business is to provide chip-based solutions for cloud computing and artificial intelligence. The main products include memory interface chip and CPU server. And the hybrid security memory module. The company's current core business memory interface chip is to build a data exchange "highway" between the CPU and the memory to improve the memory data read and write bandwidth and improve server performance.

 

This is a highly technical segment. It is understood that at present, the main manufacturers engaged in research and development and mass production of server memory interface chips are the technology, IDT and Rambus. Among them, the technology and IDT have obvious advantages, and the global market share is close to 50%. . According to the prospectus, due to the high concentration of the downstream DRAM market, Samsung, Hynix and Micron accounted for more than 90% of the market share. By covering these super customers, the technology has achieved a high market share.

 

The real rise of the technology, thanks to the company's "1+9" distributed buffer memory subsystem framework, breaking through the centralized architecture of DDR2, DDR3 The design, adopted by JEDEC as an international standard, has become the standard design of DDR4LRDIMM, which not only highlights the company's technical level and innovation ability, but also enhances China's international voice in related fields.

 

According to the query, the "1+9" distributed system,Innovatively adopts a registration buffer controller as the core and 9 data buffer chip distribution structure layout, which greatly reduces the load between CPU and DRAM particles, reduces signal transmission loss, and solves the large capacity and high speed of the memory subsystem. The contradiction between. Compared with the traditional memory module architecture, the innovative architecture makes the data in the memory short, the load is light, the delay is small, while maintaining the signal integrity, the data bandwidth is high, and the power consumption of the chip is dispersed, and the heat dissipation is good. .

 

"The chip architecture was adopted as an international standard, not only in this field, but also in China's non-core era, and China's core has won in this field. The right to speak and the future of innovation." There are people in the semiconductor industry evaluation, do not hesitate to praise.

 

70% of employees make R&D gross profit every year

 

Why can we achieve global leadership? High investment in research and development is one of the key factors. According to the prospectus, from 2016 to 2018, the company's research and development expenses were 198 million yuan, respectively.8.8 billion yuan and 277 million yuan, accounting for 23.46%, 15.34% and 15.74%.

 

Like many high-tech companies, Pickup Technology has also gathered a group of top talents in the semiconductor industry, and its R&D team can be described as star-studded.

 

According to the prospectus, as of December 31, 2018, there were 181 R&D personnel in the company, accounting for 70.98% of the total number of employees. According to the degree of education, 110 people with a master's degree or above in science and technology, accounting for 43.14%. In terms of core technical personnel, the company has a number of "industry big cattle" such as Yang Chonghe, Shangang, Changzhongyuan and Shigang.

 

Yang Chonghe, the founder of Qiqi Technology, is known as the "first person in mainland China" in the industry. He is also the chairman and chief executive officer of the company since its founding. official. According to the disclosure, as the founder of Qiqi Technology, Yang Chonghe has a wealth of experience in semiconductor industry. After returning from overseas studies, Yang Chonghe and his colleagues co-founded Xintao Technology, which merged with IDT in 2001.Since then, he has created a technology.

 

科技起科技 also has a group of semiconductor "veterans." Specifically, Shangang, the head of the company's market application technology department, has worked in ZTE Shanghai Research Institute and Xintao Technology. Chang Zhongyuan, head of the company's R&D department, holds a Ph.D. and has served as senior IC design engineer for Alcatel Bell Belgium, vice president of IDT, and chief technology officer of Shanghai Belling. Shi Gang, head of the operation department, has worked in Fudan Micro and Shanghai Advanced Semiconductor.

 

The technology has a very good gross profit margin, and in recent years there has been a sharp increase in gross profit margin. According to the disclosure, the gross profit margin of the company from 2016 to 2018 was as high as 51.20%, 53.49% and 70.54% respectively, and the gross profit margin increased by 19 percentage points in three years.

 

Core technologies are gradually turning into benefits. According to the prospectus, from 2016 to 2018, the operating income of the company was 845 million yuan, 1.228 billion yuan, 1.758 billion yuan.The average annual compound growth rate reached 44.23%; the net profit was 92.8 million yuan, 347 million yuan, and 737 million yuan, respectively. The increase was quite rapid.

 

Back to CEC and Tsinghua to enter AI

 

It was listed on NASDAQ, but for a variety of reasons, the company was delisted from Nasdaq on November 19, 2014.

 

It is Pudong Science Investment, which is responsible for the privatization of technology. One person involved in the transaction said to the reporters that an important reason for privatization is that Based on the high recognition of Qiqi Technology and Yang Chonghe, “Yang is always a compound talent, with the temperament of scientists, entrepreneurs and cultural people. It has a strategic vision, so it can pick up the Red Sea. Scientists think, Therefore, the technical level that can be set off can stand out; there is entrepreneurial spirit, so the development of the enterprise can flourish.”

 

The ownership structure shows that the technology is the first The major shareholder is China Power’s investment control under China Electronics.Holding 91.904%, its related party Jiaxing Core Power holds 2.078%.

 

In the eyes of the industry, relying on the China Electronics (CEC) tree, "filling out" CEC's chip and server maps, set off the future of technology The development prospects are more worth looking forward to.

 

The company has been deeply involved in the field of artificial intelligence and has formed an alliance with Tsinghua University. According to the prospectus, the company cooperated with Intel and Tsinghua University in 2016 to develop the R-series server CPU. Based on the RVR and the hybrid security memory module of Jinqi Technology, the Jinqi R server platform realizes the chip-level real-time security monitoring function, which not only provides a more secure and reliable computing platform for the cloud computing data center. It provides powerful integrated data processing and computational support for a wide range of applications in the era of big data and artificial intelligence.

 

For the three-year development plan after the listing, the company said that it has completed the R&D and industrialization of the first generation DDR5 memory interface chip in the memory interface chip business. In the data center business area,Continue to improve the server CPU and its platform, increase market share, and expand new business growth points such as artificial intelligence.

Keywords: Server 澜起科技
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