Stock Code: 300496 Stock Abbreviation: ThunderSoft
Thunder Software Technology Co. Ltd Investor Relations Activities
On November 2022-English Sessions
Code: 2022-013
Category of □Specific Research □Analyst Meeting
Investor Relations □Media Interview □Earnings Call
Activities □Press Release □Road Show
□ Site Visit□Others (Please describe other activities in text）
APG
Company Name Nikko Asset Investments Kathy Xu Larry Cho
MGT
and Company Europe
Power
Representative of Allianz Asia Marco Yau Corporation of Celia Qiu
Participant Canada
Power
Cathay Life Ryan Liu Corporation of Xi Hu
Insurance
Canada
Dymon Asia
RBC IM (Asia)
Capital Shiyuan Ashley Sun
LTD
(Singapore)
Janchor Sequoia China
Wang Jonathan
Partners Equity Partners
Manulife Asset Torq Capital
Joe Wong Zhou
Mgmt (HK) Ltd Management
Millennium
UBS AM
Capital Kai Kong Qian Yu
London
Management
Millennium
Capital Chay Willing Capital William Du
Management
Millennium
Capital Dennis Wu Willing Capital Tina Xu
Management
Mirae Asset
Henry Wang Willing Capital Ning Ding
Management
AllianceBernstei
Zhang Gini Willing Capital Devin Hou
n LPMirae Asset
Cathay Life Ins Zhou
Liu BJ Global Invs
Co Ltd Daniel
(HK) Ltd
Morgan
SUN
Coatue Mgmt HUANG Jack Stanley Inv
Xijuan
Mgmt
Eastspring Invs New Silk Road
Chai Arthur Shi Vera
(Singapore) Ltd Inv
Franklin
Templeton Oberweis Asset
Chen
Sealand Fund XU Cheng Mgmt (Asia)
Monica
Mgmt Ltd
Co Ltd
Fullerton Inv
Mgmt Pictet Asset
LIU Hong Zhu Olivia
(Shanghai) Co Mgmt
Ltd
Grand Alliance Point72 Hong
YOU Yuki Sun Tim
Asset Mgmt Ltd Kong Ltd
Indus Capital RWC Singapore Chen
YIN Gill
Partners LLC (Pte) Ltd Huanlong
JOHCM Red Gate Asset
(Singapore) Pte Kooi Cho-Yu Mgmt Co Ltd - Tao Leo
Ltd Shanghai
Stoneylake
JQ Asset Mgmt Asset Mgmt
Tang Wayne Ma Eton
Co (Hong Kong)
Ltd
Manulife Inv
UBS Global Zhang
Mgmt (Hong Li Wenlin
Asset Mgmt Lucy
Kong) Ltd
Manulife Inv
Wellington Ouyang
Mgmt (Hong Woo Gun
Mgmt Co LLP Gloria
Kong) Ltd
Millennium Nan Shan Life Shasta
Wang Henry
Partners LP Insurance Peng
Roger
Amiral Gestion Christian Goh Polymer (PAG)
Yang
Cathay
Securities Samsung Asset
Albert Cheng Elsa Cheng
Investment Management
Trust Co. Ltd.Singular Asset
Eurizon Capital Keng Xin
Shuyan Feng Management
Asia Limited Kok
Sdn Bhd
J O Hambro Torq Capital
Capital Cho Yu Kooi Management Tina Xu
Management (HK) Limited
Manulife Asset Van Berkom &
Wenlin Li Chris Ko
Management Associates
PRINCIPAL
Ariel
Kevin Mei GLOBAL Alan Wang
Investments
INVESTORS
Aspen Hill Jerry Wu Sophus Capital Tony Chu
Sparx Asia
Bowen Capital Jason Ding Investment Eric Chow
Advisors
Sumitomo
Cecil Street
Andy Yeo Mitsui DS Asset Alan LAI
Capital Mgmt
Management
Sumitomo
Chartwell Timothy
Mitsui DS Asset Yvette Sun
Capital Wong
Management
CHINA Sumitomo
Hideyuki
INVESTMENT Yili Yang Mitsui DS Asset
Aoki
CORPORATION Management
Sumitomo
DWS Jiayan
Alan LAU Mitsui DS Asset
Investments Fang
Management
T.C.L. Industries
GMT CAPITAL Rex Liu Holdings (H.K.) Na YOU
Limited
HANG SENG
TOKIO MARINE Sudip
INVESTMENT Justin CHU
ASSET MGMT BISWAS
MANAGEMENT
Kenrich VALUE Renee
Jacob Koh
Partners PARTNERS Hung
KOREA
INVESTMENT Raphael Cho
CORPORATION
Time November 2022-English Sessions
Location OnlinePublic Company Rick Mi Chairman Assistant/Investment Director
Representative
Part1. Introduction of Business Growth
By Q3 FY2022 company has achieved the operating revenue of
3.854 billion RMB with 44.23% growth and net profit
attributable to shareholders achieved at 639 million RMB with
41.9% growth relative to the same period of last year.
With a highlight update about Smart Vehicle division latest
progress Smart Vehicles represent the synthesis of software in
several rapidly developing fields including AI Big Data and
Cloud Computing. High-precision maps and positioning
perception of the environment decision planning and vehicle
action control all can be accomplished via well designed
carefully implemented and properly integrated software.Furthermore since the entire vehicle electrical/electronic (E/E)
architecture is moving from a distributed process to domain
concentration and from there to deep integration of the central
computing unit and related innovation there is a nearly infinite
expanse and ongoing software innovation work with rich
Briefing of scenarios and iterative upgrades which are all breaking the
industry’s boundaries via software. Unlocking its power
Investor Relations through the smart vehicle OS we have built three major product
areas: the smart cockpit autonomous driving and an OS for the
Activities
entire vehicle that is based on high-performance computing
(HPC). Thus we provide global customers with one-stop
solutions for the full product life cycle. Our solutions address
OS development core technology licensing system and
application customization automated testing and needs
extending all the way to on-the-fly upgrades.Regarding autonomous driving area company has in-depth
cooperation in place with NVIDIA and has obtained the driver
development and image-signal-processing (ISP) tuning rights
for its two platforms DRIVE and Jetson.Company and Horizon Robotics have strategic cooperation
specializing in autonomous driving with a focus on offering
OEMs and Tier 1 suppliers high-quality intelligent driving
software platform and algorithm services around Horizon’s
automotive-grade AI chips.Company’s autonomous-driving-focused subsidiary-ThunderX
dedicates itself to developing domain controller and open HPCsoftware and hardware platforms for intelligent vehicles. The
first autonomous-driving domain controller product launched
by ThunderX is based on Qualcomm SA8540P platform. It
incorporates such functions as environment perception
information fusion decision planning and drive execution.With its properties of high reliability low power consumption
and excellent real-time performance this product has carved out
a space for itself in supporting the realization of advanced
intelligent driving. ThunderX has already received investment
funding from Qualcomm Ventures this will go toward R&D for
core technologies of autonomous driving high-quality mass
production and talent-system construction. And recently the
strategic investment from Luxshare Precision to support the
construction and development of ThunderX autonomous driving
related core technologies research and development as well as
the implementation of large-scale mass production of core
products.Part2 Q&A Session
Q1. As the intelligent OS company what is your approach to
the co-operation with chipset vendor and how you will have a
different strategy with each of the platform?
Answer: Our cooperation with chipset vendor can be generally
described as our “Ecosystem Strategy” which entails close
collaboration along the entire industry chain with leading
strategic partners including chipset vendors OEM players
operators software and Internet developers and component
manufacturers etc. to guarantee solid customer-centered
development of our intelligent-OS technology while also
enabling industrial connection and ecological empowerment
across the intelligent-OS domain. A full-stack OS with
advanced technical capabilities extracts the most from the
chipset base technologies. From the beginning we have focused
on research and development for OS technology to establish
reliable underlying intelligent system software technology and
integrate key technologies with chipsets. During the long term
and strategic co-operation with extensive chipset platforms our
development and innovation have formed a comprehensive
technical system with OS technology at its center in which the
components are hardware drivers OS kernels and
implementation-ready APIs. Furthermore the advantages of our
“Chip + Full Stack” approach enable us to reap scarcity benefits
from our OS technologies while also – in awareness of the highcost of platform conversion – nurturing long-term strategic
cooperation with customers who rely on our platform-
technology expertise and know-how.Our OS technologies support multi platforms across Smart
Phone Smart Vehicle and Smart IoT. In case of the
autonomous driving field for example we have in-depth
cooperation in place with NVIDIA and have obtained the driver
development and image-signal-processing (ISP) tuning rights
for its two platforms DRIVE and Jetson. Also we have strategic
co-operation with Horizon Robotics specializing in autonomous
driving with a focus on offering OEMs and Tier 1 suppliers
high-quality intelligent driving software platform. In addition to
our co-operation with Qualcomm our autonomous-driving
domain controller product launched by our subsidiary-
ThunderX is based on Qualcomm SA8540P platform offering
hardware and software turnkey solutions.Q2. Why you are engaging in the Domain Controller area in the
autonomous driving and what is your latest progress on that?
Answer:
With the rapid development of autonomous driving the
automotive electronic systems and software have shown an
explosive growth which has also brought great challenges to
the traditional electronic and electrical (E/E) architecture. The
key issue facing in the industry is how to ensure the efficiency
of data processing and the security of the network in the
increasingly complex systems. In this context the domain
controller integration architecture has gradually emerged and
has become an important technical field and development trend
in autonomous driving. Our focus is not only to provide DC
hardware but also the key is to build Realtime Middleware
Platform.At present our subsidiary-ThunderX already successfully
launched the first autonomous driving domain controller called
“RazorDCX Takla” based on Qualcomm SA8540P platform.This domain controller can provide the access capabilities of 12
cameras with the highest resolution of 8M pixels 8-way vehicle
grade level Ethernet interface and reserve multiple CAN/CAN
FD interfaces which can meet the demand of autonomous
driving sensor access. In addition ThunderX also launched
middleware platform called “RazorWareX” including basicfunctions (i.e. communication and underlying services) tool
chains service menus engineering services etc.Therefore a software platform with strong compatibility is
generated which can enable the functionalities such as cross
chip cross domain controlling low latency and high reliability
and high functional security.Q3. How do you expect the growth in the e-cockpit area and
what is the growth driving force on that in the coming years?
Answer: Our latest cockpit solution empowered with powerful
software adaptation capabilities obtains maximum performance
from the chipset the full range of CPU computing power on-
GPU graphics and image processing and other benefits. The
solution has enabled single-chip multi-screen smart cockpit
functionality that includes digital instrumentation centrally
controlled integrated entertainment copilot entertainment dual-
rear-seat entertainment streaming media for rearview mirrors
heads-up displays (HUDs) and the industry’s leading one-stop
screen-projection solution.The smart cockpit is not only a carrier of user driving
experience but also a base ground for OEMs to explore
changes in operating models and important interface to the
future of Metaverse. As the interaction method of the cockpit is
becoming more and more intelligent the complexity of its
operating system is also continuously increasing and the
software market capacity is continuously expanding.As mentioned above the intelligent scenario of Smart Vehicle is
driven by software as the core the long-term existence of
software value and the key driving force for continuous
improvement and development are highly expected.Q4. What is your business model in Smart Vehicle?
Answer: We offer software service and software licensing to
customers in Smart Vehicle business. According to 1H of
FY2022 software service revenue is 743 million RMB
Software licensing revenue is 107 million RMB with 42.35%
growth relatively to the same period in last year.Q5. Do you meet any competition from customers when
customers build their own software development team?Answer: Software is re-defining the vehicle so each customer
is realizing the key role of software. As we have world leading
full stack OS products and technologies with extensive
capabilities to support customer win in the market so our
software development team is ideal partner with customer as
well as with customer’s development team to co-work and help
customer product quick time to market through strategic co-
operation.The truth is our strategic co-operations with customers are
accelerating. For example in 2021 we were awarded as the
Excellent Partner of Huawei Smart Car Solutions and Tencent
“TIME Plan 2021 Excellent Partner”. In this year we also
aligned on the Joint Venture cooperation with JAC group.More and more innovations these days stem from collaborative
work which requires a process of cooperation for discovering
how customer needs are developing co-innovating and solving
customer problems. Therefore a tendency has emerged for the
entire OS to be open and serve the whole industry through
application of partnership and ecosystem thinking.Q6. What is future plan on the growth of software talents? How
do you think the competition on the talents? As an organization
over 10000 employees how do you think effectively to manage
the whole organization?
Answer: As a world leading OS technology company talent is
our core asset. Nurturing our talent system we have formed an
efficient and practical intelligent talent management model and
system for organization-internal use. This is centered on
strategy and business development that is demand-oriented
efficient and practical and formed a strategy that builds on a
strong engineer-based culture.Our organization cultivates meets and provides competitive
benefits diverse and transparent career growth. Due to the
accumulation of intelligent OS systems and technologies a
broad development stage can be offered for employees where
people can involve in world class customers cutting-edge
technologies work with top operating system experts have the
opportunity to explore global market. All of these enable us to
stand and retain industry-leading practical human resources and
excellence in organizational management.In order for the effective management of the whole
organization the key is to build an intelligent organization of
our intelligence-focused company by building and nurturing an
open and flat structure trial-and-error-based rapid adjustment of
organizational capabilities as needed matrix development
of the R&D system global linkage of functions across software
products evidence-based indicators for OKR talent and the
application of “Feishu” throughout the enterprise. All-around
talent systems are in place also for broad-based talent
discovery career development a robust talent ecology and
talent innovation.Attachment list None
(If Applicable)
Date Nov 30th 2022
