The operating results of the AI chip Unicorn Cambrian finally lifted the mystery.
On the evening of March 26, the official website of the Shanghai Stock Exchange showed that the Cambrian listing application for science and technology board was approved. If successfully landed in the capital market, the Cambrian will become the first share of the science and technology board AI chip.
Under the epidemic, AI has become lively again, but judging from the current market, the commercial implementation of AI chips is a difficult problem for the Cambrian. With the disclosure of the prospectus, the actual Cambrian performance is no longer a mystery.
The prospectus shows that in 2017, 2018 and 2019, its revenue was 7,843,300 yuan, 117 million yuan, and 444 million yuan. The increase in revenue was not bad, but the losses were equally serious, with losses of 380 million yuan, 41.04 million yuan and 1.179 billion yuan for three consecutive years, and a total of about 1.6 billion yuan.
The huge losses mainly come from two aspects. One is “the company has a large R & D expenditure and the product is still in the market expansion stage”, and the other is “the share payment due to equity incentives is large during the reporting period”. The Cambrian also stated in the prospectus that the company cannot guarantee profitability in the next few years, and the company may also face the risk of delisting after listing.
Risk Tips in the Cambrian Prospectus
From the Cambrian prospectus, we can also see some difficulties faced by the entire industry, including over-reliance on large customers, large investment in technology research and development, and the test of commercialization. For the Cambrian, the aura faded, and the real test has just begun.
3 years research and development