Relying On The Chinese Academy Of Sciences With 5G Halo Communication Baseband Chip Manufacturer, China Science And Technology Co., Ltd

The territory of the Chinese Academy of Sciences of the science and technology innovation board continued to expand.

Following the Cambrian and GuoDun quantum, the IPO application of Beijing zhongkejingshang Technology Co., Ltd. (hereinafter referred to as "zhongkejingshang") was accepted by Shanghai Stock Exchange recently.

The actual controller of the company is the Institute of computing, Chinese Academy of Sciences, whose main technical personnel also have the background of Chinese Academy of Sciences. With the escort of the Chinese Academy of Sciences, the R & D strength of zhongkejing is impressive.

In terms of main business, zhongkejing is mainly engaged in baseband processor chip design and protocol stack software development for communication and information system requirements. Its service objects include satellite communication and agricultural machinery intelligent field. This time, the company plans to raise 1 billion yuan, mainly invested in terminal baseband chip R & D projects, including 5g related projects.

While leaning back on the big tree of the Chinese Academy of Sciences and devoting to the hot field of baseband chip research and development, the science and technology innovation board IPO on China Science and technology crystal has attracted a lot of market attention.

Chinese Academy of Obstetrics

The predecessor of Zhongke Jingshang was Jingshang limited, which was established in 2011. It is jointly funded by Beijing Haidian Zhongke computing technology transfer center, Shi Jinglin, Zhang Yucheng and Hu Jinlong. In 2016, Jingshang Co., Ltd. completed the share reform and Zhongke Jingshang was established.

As of the date of the signing of the prospectus, Zhongke Suan Yuan directly held 9.528.51 million shares in China Science and technology crystal, accounting for 31.76%. Meanwhile, in order to ensure the stability of the shares of the issuer after listing, Shi Jinglin, the chairman of the board of directors, signed a "concerted action agreement" with China science computing resources and the Institute of Chinese Academy of Sciences. Shi Jinglin, China Science and technology computing resources and the Institute of Chinese Academy of Sciences kept consistent action, and Zhongke Suan yuan was able to control The proportion of shares with voting rights on kejing reached 52.14%.

Therefore, Zhongke Suan yuan is the controlling shareholder of Zhongke crystal. The Institute of computing of the Chinese Academy of Sciences holds 100% of the shares of Zhongke Suan yuan, which is the actual controller of Zhongke crystal.

As a direct parent company of the Chinese Academy of Sciences, the equity structure of zhongkejing is relatively simple, and it does not have a group of star shareholders like GuoDun quantum and Cambrian. It has only three external investors: wonderful Turing shares 8.3%, Qianhai venture capital 10.59% and Shouke group 8.1%, of which Shouke group is a state-owned shareholder.

The company's core technical personnel include five, namely general manager Hu Jinlong, deputy general manager Zhang Yucheng, deputy general manager Yang Xiaojun, employee supervisor Yuan Yao, and system general manager Su Yongtao. All of them have working background in the Institute of computing, Chinese Academy of Sciences.

In addition, the reporter of 21st century economic report found that many customers have potential close relationship with zhongkejing.

In 2020, Nanjing Qilin science and Technology Innovation Park (ECO tech city) development and Construction Management Committee (hereinafter referred to as Qilin Management Committee) appeared in the company's five major customer list for the first time, and leapt to the largest customer on zhongkejing. The sales amount was 22110500 yuan, accounting for 22.68% of the current revenue, and the sales content was "satellite communication products".

According to the public information, the Nanjing Branch of the Chinese Academy of Sciences was built in Qilin science and technology park. At the end of 2019, the relevant person in charge has introduced that the Institute has completed the "space earth integrated network satellite mobile communication terminal chip" of the Hongguang special project of the Chinese Academy of Sciences, and is promoting the major science and technology infrastructure project of the information high-speed railway.

The fifth largest customer of zhongkejing is Shandong Zhongke intelligent agricultural machinery and equipment technology innovation center, with sales amount of 6.7708 million yuan in 2019, accounting for 6.95%. The innovation center is also closely linked with the Chinese Academy of Sciences. According to public information, it has established strategic cooperation with the Institute of computing, Institute of zoology, Institute of Botany and Institute of coastal zone of Chinese Academy of Sciences.

Communication baseband chip manufacturer

In terms of main business, zhongkejing mainly provides chip modules, terminals, complete machines, technology development services and system solutions for satellite communication and agricultural machinery intelligent fields. The specific layout areas include satellite Internet, industrial Internet, 5g and other emerging markets.

In the future, the company will further develop new products such as satellite communication terminal baseband chips, industrial grade 5g terminal baseband chips, and high-performance general-purpose digital signal processor chips, etc. Its raised investment projects include the above fields. Nowadays, the market pays high attention to chip investment, especially when it is associated with satellite communication and 5g.

Benefited from the market development, the company's performance has grown rapidly in recent years. From 2017 to 2019, the company achieved operating revenue of RMB 48.8437 million, RMB 68.5282 million and RMB 163.58.92 million, respectively, with an average annual compound growth rate of 83.01%. In terms of business composition, in the first half of this year, the revenue of satellite communication industry accounted for nearly 50%, and the revenue of agricultural intelligent products accounted for about 31%.

However, further, the most concerned baseband chip in the market does not contribute much to revenue. According to the data in 2019, although the revenue of satellite communication products reaches 40.66%, the baseband chip module accounts for only 1.37%, and most of the revenue is contributed by the gateway station and service station.

So, what is the industry status of zhongkejing? According to the prospectus, the company has formed a complete product layout of Tiantong ground application system in line with military standards, and is an important supplier of access network system, test system and terminal chip module of the overall unit of Tiantong ground application system.

A powerful example is that in 2016, tiantong-1-01 satellite was successfully launched. Tiantong-1 is the first satellite mobile communication system independently developed in China to realize terminal handheld. According to the disclosure of China Science and technology crystal, it has formed a complete product layout covering the ground application system of tiantong-1 satellite mobile communication.

At present, the development of baseband chip and equipment of satellite mobile communication terminal is in the stage of iterative development. However, the industrial 5g terminal baseband chip is still in the development stage. Its goal is to break through the key technologies such as high-performance baseband algorithm library design and modular configurable chip architecture for industrial application-oriented 5g communication terminal, and develop industrial 5g communication terminal baseband chip chip and terminal equipment.

According to the latest news, in August this year, the Institute of computing of the Chinese Academy of Sciences, the Kunshan municipal government and China Science and technology crystal signed a comprehensive strategic cooperation agreement. The three parties will jointly promote the mass production of industrial 5g industrial internet terminal baseband chips. At the meeting, Zhongke crystal released industrial 5g terminal baseband chip "moving chip dx-t501", which has industrial 5g dedicated DSP core, with large bandwidth, low delay and high reliability.

In general, in the development pattern of domestic baseband chip, Zhongke crystal has occupied a place.

According to Chen Hang, an analyst in the electronics industry of Founder Securities, zhongkejing is one of the four global suppliers of full range wireless communication protocol stack software products, and its wireless communication protocol software covers six mainstream standard systems, namely 2g-5g series, broadband wireless series and satellite series.

However, compared with the industry leader, there is still a gap in Zhongke crystal, and the baseband market is gradually moving towards oligarchy and self-study. However, benefiting from the development of the whole industry, domestic baseband manufacturers including zhongkejing will also usher in opportunities.

"In the domestic baseband industry, Huawei Hisilicon takes the lead, and MediaTek and well-known war capital inject capital into Aojie, which is expected to promote the technical progress of domestic baseband manufacturers, accelerate the process of domestic replacement, and continue to pay attention to domestic baseband manufacturers." Chen Hang said.

It is mentioned in the prospectus that the company's own vector DSP core design baseband processor chip has a certain competitive advantage compared with its competitors. The trade friction between China and the United States will accelerate the process of China's domestic substitution in high-end manufacturing industries such as integrated circuits and communications. The three major fund-raising projects invested in the future have great potential and market space. The company will fully grasp the opportunities of industrial upgrading and localization and accelerate the industrialization of core technology.