Lei Jianping on April 24
Kunlun Wanwei Technology Co., Ltd. (stock code: 300418, stock abbreviation: Kunlun Wanwei) released its financial report yesterday. According to the financial report, Kunlun Wanwei's revenue in 2023 will be 4.915 billion yuan, an increase of 3.78% from 4.736 billion yuan in the same period last year.
Kunlun's net profit in 2023 will be 1.258 billion yuan, an increase of 9.15% from 1.153 billion yuan in the same period of last year, and the net profit after deducting non-profits will be 660 million yuan, a decrease of 42.86% from 1.155 billion yuan in the same period of last year.
Among them, Kunlun Wanwei's revenue in the fourth quarter of 2023 will be 1.234 billion yuan, the net profit will be 930 million yuan, and the net profit after deducting non-profits will be 385 million yuan.
The company's profit distribution plan approved by the board of directors is: based on 121,500,7204 shares, a cash dividend of 0.5 yuan (tax included) will be distributed to all shareholders for every 10 shares, 0 bonus shares (tax included) will be given, and 0 shares will be transferred to all shareholders for every 10 shares with capital reserve.
Overseas revenue accounted for 86%
During the reporting period, Kunlun's overseas business revenue accounted for 86%, an increase of 8.4 percentage points year-on-year, and the company's overall gross profit margin reached 78.8%. Among them, the gross profit margin in China reached 85.3%, an increase of 16.5 percentage points year-on-year, and the net profit attributable to shareholders of listed companies was 1.26 billion yuan, an increase of 9.15% year-on-year.
During the reporting period, the company firmly implemented the development strategy of "All in AGI and AIGC" and increased R&D investment. In 2023, the company's R&D expenses further increased to 970 million yuan, a year-on-year increase of 40.2%.
Kunlun began to focus on large models and AIGC in 2020, and has built a diversified AI business matrix including AI large models, AI search, AI music, AI video, AI social networking, AI games, etc., and some of the businesses have been commercialized.
In April 2023, Kunlun Wanwei released the self-developed "Tiangong 1.0" large model. The model adopts a dual-100 billion model architecture, pre-trained pedestal model and RLHF model, and is trained based on top GPU clusters, demonstrating advanced self-learning capabilities and intelligent emergence capabilities. At the same time, combined with the Monte Carlo tree search algorithm, it can quickly and accurately respond to instructions in complex tasks and scenarios, and output high-quality answers, providing a more humanized interactive experience.
In February 2024, Kunlun Wanwei officially released the "Tiangong 2.0" large language model using the industry's top Mixture-of-Experts (MoE) expert hybrid model architecture, which has stronger ability to cope with complex tasks, faster model response, higher training and inference efficiency, and stronger scalability than the previous version.
On April 17, 2024, on the first anniversary of the release of the Tiangong model, the company officially iterated the Tiangong model to version 3.0. Tiangong 3.0 adopts a 400 billion parameter MoE architecture, which is one of the world's largest and most powerful open-source MoE models.
"Tiangong 3.0" has achieved a qualitative leap in semantic understanding and logical reasoning, and its technical knowledge ability has been improved by 20% compared with the previous generation model, and its math and code capabilities have been improved by more than 30%.
In the fourth quarter of 2023, Opera's annualized ARPU reached $1.44, up 22% year-over-year. Opera reported full-year operating income of $397 million, up 20% year-over-year, and adjusted EBITDA of $93.719 million, up 38% year-over-year, according to Opera's fourth-quarter report.
Hong Kong Securities Clearing Company Limited's shareholding decreased by 4.55 percentage points
As of December 31, 2023, Xinyu Yingrui Century Software R&D Center (Limited Partnership) held 15.62% of the shares, Zhou Yahui held 11.92% of the shares, Li Qiong held 7.93% of the shares, Hong Kong Securities Clearing Co., Ltd. held 1.31% of the shares, China Minsheng Bank Co., Ltd. - ChinaAMC CSI Animation and Game Exchange-traded Open-ended Index Securities Investment Fund held 1.01% of the shares, and Mao Jinming held 0.92% of the shares;
As of December 31, 2023, Kunlun Wanwei's shareholding structure
Industrial and Commercial Bank of China Co., Ltd.-E Fund ChiNext ETF holds 0.76%, Mao Yingjun holds 0.67%, China Construction Bank Corporation-Huaan ChiNext 50 ETF holds 0.49%, and Industrial and Commercial Bank of China Co., Ltd.-GF CSI Media ETF holds 0.47%.
As of June 30, 2023, Xinyu Yingrui Century Software R&D Center (Limited Partnership) held 15.87% of the shares, Zhou Yahui held 12.11% of the shares, Li Qiong held 10.61% of the shares, Hong Kong Securities Clearing Co., Ltd. held 5.86% of the shares, China Minsheng Bank Co., Ltd. - ChinaAMC CSI Animation and Game Exchange-traded Open-ended Index Securities Investment Fund held 1.13% of the shares, and Commercial Bank Co., Ltd. - E Fund ChiNext Exchange-traded Open-ended Index Securities Investment Fund held 0.64% of the shares;
As of June 30, 2023, Kunlun Wanwei's shareholding structure
Wang Xiaoan holds 0.5%, China International Capital Corporation holds 0.49%, Industrial and Commercial Bank of China Co., Ltd. - GF CSI Media ETF holds 0.47%, and Ping An Asset Management-ICBC-Ruyi No. 2 Asset Management Products holds 0.42%.
It can be found that in the past six months, the shareholding of Xinyu Yingrui Century Software R&D Center (Limited Partnership) decreased by 0.25 percentage points, Zhou Yahui's shareholding decreased by 0.19 percentage points, Li Qiong's shareholding decreased by 2.68 percentage points, and the shareholding of Hong Kong Securities Clearing Co., Ltd. decreased by 4.55 percentage points.
In the second and third quarters of 2023, Ms. Li Qiong reduced her holdings of 35,868,507 shares in total, of which 11,956,107 shares of the Company were reduced through centralized bidding, accounting for 1% of the Company's total share capital, and 23,912,400 shares of the Company were reduced through block trading, accounting for 2% of the Company's total share capital.
Ms. Li Qiong reduced her holdings at an average price of 38.92 yuan and cashed out 465.5 million yuan through centralized bidding, and reduced her holdings at an average price of 35.08 yuan and cashed out 839 million yuan through block trading. This means that Ms. Li Qiong reduced her holdings in Kunlun Wanwei and cashed out a total of 1.3 billion yuan.
Up to now, Kunlun Wanwei's share price is 38.56 yuan, and the market value is 46.887 billion yuan.
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