securities star news, on October 31, 2023, godson zhongke (688047) announced that the company would accept institutional research on October 30, 2023, CITIC Securities, Hangzhou Nine Dragons Assets, Minghe Investment, Shanghai Chuhou Private Equity Fund Management Co., Ltd., Huafu Fund Management Co., Ltd., Pengyang Fund, Dongfang Self-operated, Soochow Fund Management Co., Ltd., Zhejiang Xiangyu Bank Investment, Everyone Asset Management Co., Ltd., Shenzhen Shangcheng Asset Management Co., Ltd., Goldstream Fund, Guoxin Securities Co., Ltd., Shanghai Cyberle Investment Co., Ltd., Weijin (Hangzhou) Asset Management Co, guojin Securities Co., Ltd., Baichuan Wealth (Beijing) Investment Management Co., Ltd., Huitianfu Fund Management Co., Ltd., Beijing Zhishun Investment Management Co., Ltd., Zige Investment, Fuguo Fund Management Co., Ltd., China Securities, Cathay Pacific Fund, Guangyu Group, Changsheng Fund, Hangzhou Zhejiang Letter Industrial Co., Ltd., Shanxi Securities Co., Ltd., Marco Polo Pure Asset Management, Huatai Securities, Ping An Securities, Caitong Securities, Ningbo Meishan Free Trade Port Haojun Investment Management Co., Ltd., Orient Securities, Great Wall Securities, Xiangcai Securities, Huaan Securities, Industrial Securities, China Merchants Bank Co., Ltd., China Securities Construction Investment, Yuanhao Investment, Zhongtian Guofu Securities Co., Ltd., Everbright Securities Co., Ltd., China Post Securities Co., Ltd., Shanghai Ganti Investment Management Co., Ltd., Guohai Securities, Qingdao Jinguangzijin Venture Capital Management Co., Ltd., Ltd., Shanghai Honghan Investment Management Co, origin Asset Management Co., Ltd., China Shipping Fund, Shenzhen Century Zhiyuan Private Equity Fund Management Co., Ltd., Shanghai CICC Capital Investment Co., Ltd., Qingdao Suben Investment Management Co., Ltd., Guoxin Securities Asset Management Headquarters, Hangzhou Jinchengsheng Asset Management Co., Ltd., JK Capital Management Ltd., Puyin AXA Fund, Beijing Tongde Panshi Asset Management Co., Ltd., Harmony Huiyi Asset Management Co., Ltd., Shanghai Ningyongfu Private Equity Fund Management Partnership (Limited Partnership), UBS Asset Management (Hong Kong) Co., Ltd., Shanghai Fengyu Investment Co., Ltd., Shanghai Jiashi Private Equity Management Co., Ltd., Beijing Jinta Equity Investment Co., Ltd., Ruixin (Beijing) Asset Management Co., Ltd., IGWT Investment, Shenzhen Yifeng Asset Management ltd., laterite innovation fund management co., ltd., Shenzhen qianhai julong investment co., ltd., boyu capital investment management co., ltd., unified investment trust, Shanghai xiaogao asset management co., ltd., Guodu securities co., ltd. (self-operated), Shenzhen changan trading co., ltd., Puyin wealth management co., ltd., Debang securities co., ltd., UBS, Shanghai yuanhao investment, RAYS Capital, zhejiang Securities, Hainan Mozhu Private Equity Fund Management Co., Ltd., Hangzhou Xian Investment, Shenzhen Xinghairong Investment Co., Ltd., Shanghai Model Investment Management Co., Ltd., Shenzhen Mingyao Investment Management Co., Ltd., Huafu Securities Co., Ltd., Shanghai Niuhu Asset Management Co., Ltd., Guolian Securities Equity Investment Department, Manulife, Heyong Investment Management (Beijing) Co., Ltd., Guangzhou Yunxi Private Equity Fund Management Co., Ltd., Huabao Xingye fund, Sino-British Life Insurance Co., Ltd., Huaxia Wealth Management Co., Ltd., Shenzhen Hongfang Asset Management Co., Ltd., Fuzhou Development Zone Sanxin Asset Management Co., Ltd., Shanghai Qianxin Investment Management Co., Ltd., Shanghai Miyuan Investment Management Co., Ltd., Jinxiu Zhonghe (Tianjin) Investment Management Co., Ltd., Hangzhou Kaisheng Investment Management Co., Ltd., Hongde Fund, Haining Shibei Investment Management Partnership (Limited Partnership), Beijing Xingshi Investment Management ltd., Shanghai Tongyuan Investment Development Co., Ltd., Shanghai Life Insurance Co., Ltd., Shenzhen Xinran Investment Management Co., Ltd., Changxin Fund, Everbright Yongming Asset Management Co., Ltd., Haojun Investment, Guoyuan Securities Co., Ltd., Shanghai Yongbei Asset Management Co., Ltd., Southern Tianchen (Beijing) Investment Management Co., Ltd., Suyin Wealth Management Co., Ltd., Pan Yao Asset, Shenzhen Zexinyi Investment Management Enterprise (Co., Ltd. Partnership), Guoxin Hongsheng, Shanghai Enstant Rock Asset Management Co., Ltd., Shanghai Huichen Private Equity Management Co., Ltd., Shanghai Changsee Investment Management Co., Ltd. participated.

The details are as follows:

Q: Is there any warming phenomenon in the policy market now? And what is the judgment of the company on the future market trend of related business?

A: At present, the policy market can already see some positive trends, and it should improve in the fourth quarter of this year. In the future, from the perspective of party and government, industry and education, the overall market size of PC, terminal and server business exists. Loongson will continue to focus on the party and government and related industries, and at the same time, it will focus on the field of education. This is not only a consideration in the market, but also a consideration in the training of talents in the information industry.

Q: In terms of R & D investment, can the key direction of future talent and resource allocation be roughly split?

A: The focus of the layout is the combination of points and surfaces. The face is to continuously improve the cost-effectiveness of the general-purpose CPU, improve the dragon architecture software ecology, the point is to combine specific application needs, customize special chips and solutions, and move towards open market competition.

The Loongson 3 series is mainly oriented to the information business field. Godson products to the 5000 series began to be divided into desktop and server two lines, to do the 6000 series will be divided into desktop, server and terminal three lines, and continuously improve the cost performance. The Godson 2 series is mainly oriented to the industrial control business field, forming three platforms of 40 nm, 28 nm and 12 nm, accumulating independent IP and customizing special SOC in combination with specific applications. The Loongson 1 MCU series is mainly aimed at embedded specialized applications, such as continuous development in motor drives, running/walking machines, and flow meter chips. Special chip focus, the industry to do through. Chip R & D investment is mainly in these areas. In terms of software ecology, the company will continue to further improve the dragon architecture (Loongrch) software ecology in terms of open source community, operating system, binary translation, application adaptation, etc. At present, the Linux desktop software ecology based on dragon architecture partially exceeds X86 and RM. Next year we will strive to achieve an overall excess and the following year we will strive to achieve an overall excess.

Q: How is the overall progress of the server business? And what are the follow-up plans in the server area?

A: In the first three quarters of 2023, the company's solution business increased significantly year-on-year, mainly due to the substantial increase in sales of servers (boards). At present, the company's server products are mainly 5000 series, driving the development of the industry chain. Recently, we learned that the server machine products launched by a complete machine customer based on Loongson chip have achieved good results in important industry bidding.

in the future, the company's servers will have 6000 series of products. after the introduction of 16-core products and 32-core and 64-core products, I think the performance should be relatively advanced in the field of autonomous servers, and the degree of autonomy is also very high. In a fully competitive market, as long as the industry is selected and the application is selected, there will be strong competitiveness. The server business belongs to the incremental market of Loongson, and we can play a competitive advantage in terms of cost performance.

Q: Can you introduce the dragon chain technology and its products or market applications?

A: I think intelligence is connected. Each neuron does not have intelligence of its own, and the complex connections of neurons form intelligence. The calculation force can also be considered as the connection force, which is the intelligence of the connection. In the past, we often emphasized how many computing units there are in the chip, the advanced technology, and the number of cores. This is not enough. To form a better intelligence, we must strengthen the connection ability. We are based on this cognition. Dragon chain technology (Loongson Coherent Link).

Inter-chip interconnection can be realized through dragon chain technology, which supports dragon core cache coherence protocol transmission and has strong scalability, making the connection between chips very strong and improving efficiency. Dragon chain technology benchmarking nVLink and CXL is the key core technology to crack the Chiplet. Dragon chain is more concise than PCIE interface protocol. PCIE is IO bus, which is more complicated. Dragon chain is system bus and only needs to be responsible for the connection between CPU. It is simple and efficient, but it requires to do it yourself and has no IP to buy. Mastering the dragon chain technology, the performance of the dragon core chip will be ahead in terms of servers and computing power. We have now developed a 3C6000 server product. We will package two 3C6000 servers together through dragon chain technology to form a 32-core 3D6000 server product, and then package four 3C6000 servers together to form a 64-core 3E6000 server product.

Q: What is the application of the company's self-developed graphics processor LG200? And subsequent plans?

a: the company's second-generation self-developed graphics processor core LG200 supports graphics acceleration, scientific computing acceleration and I acceleration, and is integrated into the 2K3000 chip under development. currently, 2K3000 has completed the front-end design, and 2K3000 has a strong application background, such as unmanned equipment. LG200 is mainly used for reasoning here. Of course, we also need to take into account that LG200 can be integrated as a discrete graphics chip of Godson. We judge that it has the same performance as Avida's low-end read-write graphics card. It does not play high-end games and faces similar policy-oriented market scenarios, which can basically meet the demand. In addition, in terms of scientific computing acceleration and I acceleration, the application in industrial control and terminal equipment can meet the needs of some unmanned scenarios.

Godson will also make special GPGPU chips in the future, and will also form a series for different application requirements. Some products focus on graphics as graphics cards, while others focus on I. Godson emphasizes autonomy and is making continuous progress. It will also make software ecology in the future. In the future, there will be technological accumulation and technological progress. Just like general-purpose CPU, our GPU products and ecology will also make rapid progress.

Loongson Zhongke (688047) main business: processor and supporting chip development, sales and service.

Godson Zhongke's third quarter report in 2023 showed that the company's main revenue was 0.394 billion yuan, down 18.49 percent from the same period last year. Net profit attributable to parent -0.207 billion yuan, down 383.24 percent from the same period last year; Deduct non-net profit -0.303 billion yuan, down 148.24 percent from the same period last year; In the third quarter of 2023, the company's single-quarter main revenue was 86.4188 million billion yuan, down 36.53 percent from the same period last year, year-on-year decrease of 556.13; Single-quarter non-net profit -0.128 billion yuan, down 33.13 year-on-year; Debt ratio 14.4, investment income 32.6937 million yuan, financial expenses -1.252 million yuan, gross profit margin 35.79.

The stock has been rated by five agencies in the last 90 days, with four buying ratings and one overweight rating.

The following is detailed earnings forecast information:

The margin trading data shows that the net inflow of financing of the stock has 0.218 billion in the past three months, and the financing balance has increased; the net inflow of securities has 11.4168 million, and the balance of securities has increased.

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