In 2020, the company’s intelligent connected vehicle business achieved operating income of 770 million yuan, and about 626 million yuan of revenue came from software development and technical services. The 144 million yuan is from software licensing and other income. A year-on-year increase of 60.09%. The five-year (2016-2020) compound annual growth rate is as high as 102%.
It is understood that as early as 2013, Thundersoft began to invest heavily in the layout of the new generation of intelligent networked vehicle business. The intelligent networked vehicle platform products launched by the company break through the traditional industry boundaries through “software” and lead the development of the industry. In recent years, the proportion of ICV business revenue in the company’s total business revenue has also increased year by year, from 5.45% in 2016 to 29.31% in 2020.
In fact, in Thundersoft’s business layout, there are also intelligent software business accounting for 44.22% of revenue and intelligent Internet of Things business accounting for 26.47%, both of which will grow to varying degrees in 2020.
According to public information, Thundersoft has been deeply involved in the field of intelligent operating systems for 12 years. It is the world’s leading full-stack operating system technology company. It has more than 8,000 operating system engineers and focuses on operating system technology. , Smartphone industry empowerment. At present, Thundersoft has built a huge first-mover advantage and deep technical barriers in the field of intelligent operating system technology.
At present, it has more than 200 intelligent and connected car customers around the world, and has cooperated with leading car manufacturers such as GAC, SAIC, FAW, Ideal, Volkswagen, GM, and Toyota. In March and September 2020, Thundersoft entered into cooperation with GAC Research Institute and SAIC Zero Bundle respectively to jointly build a software and application innovation base and the world’s leading software platform for intelligent connected vehicles.
In the intelligent industry chain, Thundersoft connects both ends up and down. One end is to connect all partners in the industry chain, including chip manufacturers, OS manufacturers, Internet manufacturers, AI and cloud manufacturers, etc. The other end connects mobile phone manufacturers, car manufacturers, Tier 1, IoT manufacturers, etc., to build a mesh ecosystem for the industry. Thundersoft said that the company is located in a strategic position in the industry chain, and the growth of any party will bring about the growth of the company’s business.
Taking the ICV business as an example, the operating system platform products and software IP have brought the traffic portal of the ICV era to Thundersoft. With the successive launch of research models, the ICV business will continue to be Growing rapidly. In 2020, Thunderbolt’s intelligent networked vehicle business achieved operating income of 770 million yuan, an increase of 60.09% over the same period of the previous year; of which software development and technical service income was 626 million yuan, and software licensing income was 144 million yuan. than 20%. The five-year (2016-2020) compound annual growth rate is as high as 102%.
Take Rightware’s Kanzi again. Kanzi is a tool set for HMI development for smart car cockpits that can provide digital instrumentation, central control, entertainment and control screens. With Kanzi’s unique modular architecture and flexible workflow, designers can unleash their creativity and create a smooth user experience, complete the visual construction of 3D dynamic interfaces in one step, and seamlessly connect with engineers, reducing development costs. At the same time speed up time to market. At present, more than 50+ brands in the world choose Kanzi as the HMI development tool. It has enabled more than 100 models, and more than 30 million vehicles worldwide use Kanzi technology. In the future, KANZI will help more partners to create a first-class human-computer interaction experience.
In addition, Thundersoft has more than 200 ICV customers around the world, with customers all over the world. In the context of software-defined vehicles, Thundersoft has played an increasingly important role as a neutral and open intelligent operating system manufacturer, providing customers with extensive and profound value.
In March 2020, Thundersoft and Guangzhou Automobile Research Institute announced the establishment of the “Guangzhou Automobile Research Institute – Thundersoft Intelligent Vehicle Software Technology Joint Innovation Center”, and the two parties will work together to create a base for software and application innovation. In September 2020, Thundersoft signed a strategic cooperation agreement with SAIC Motor Group Co., Ltd. Zero Bundle Software Branch. The two parties will establish a long-term and stable in-depth cooperative relationship and jointly build the world’s leading software platform for intelligent networked vehicles.
In March 2021, Human Express and Thundersoft officially signed a cooperation agreement to establish a joint venture company to focus on the development of automotive intelligent systems and software. system, leading the development and upgrading of the intelligent automobile industry.
In April 2021, the world’s first automotive SOA developer conference hosted by SAIC was unveiled. Chuangda has become an important ecological partner of SAIC Zero Beam SOA developer platform, working together to promote industrial transformation.
Based on Thundersoft’s 2020 annual report, Soochow Securities and Huatai Securities both maintained their buy rating on Thundersoft (300496.SZ). The reasons for the rating mainly include: 1) the three core businesses are going hand in hand, and the company is optimistic about the company’s high growth; 2) the core competitiveness is highlighted, and the operating efficiency is continuously improving; 3) technology + ecology, and further expand the depth of technology frontier.
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