樂鑫科技(688018.SH)：2021年度淨利預增83%-102%
格隆匯1月12日丨樂鑫科技(688018.SH)公佈2021年年度業績預增公吿，經財務部門初步測算，預計2021年年度實現歸屬於母公司所有者的淨利潤為1.9億元到2.1億元，與上年同期(法定披露數據)相比，將增加8595萬元到10,595萬元，同比增加83%到102%左右。
歸屬於母公司所有者的扣除非經常性損益的淨利潤為1.68億元到1.88億元左右，與上年同期(法定披露數據)相比，將增加9392萬元到11392萬元，同比增加127%到154%左右。
業績變化的主要原因：
(一)主營業務影響
本期營業收入增長約 65%-70%。由於公司AIoT芯片品類增加且存在芯片和模組兩種不同的出貨形態，產品收入會受到結構性變化影響。
全線產品整體出貨量同比增長30%-40%。其中，高端產品線的增速較快。高端產品線耗用原料晶圓面積較大，單品貨值更高。在晶圓尺寸一致的情況下，如果將不同產品的出貨量以同一種產品(比如ESP32芯片)對晶圓的消耗量換算，則本期約當出貨量將對比上期增長50%-55%。
(二)研發費用影響
本期研發的大量投入增加致使研發費用同比增加38%-43%。
在硬件方面，研發成果有3款新AIoT芯片發佈，公司產品矩陣更加豐富。本期除了在Wi-Fi6領域有了技術突破，公司還進入Thread/Zigbee技術領域，標誌着公司在智能家居的三大主流無線技術(Wi-Fi、低功耗藍牙和Thread/Zigbee)中都有了產品佈局，進一步拓寬了公司在WirelessMCU(無線MCU)領域的發展邊界。
在雲端方面，我們的雲產品ESP RainMaker的研發成果進入商業化階段，從最初的一個雲中間件進化為一個完整的AIoT平台，集成我們的芯片硬件、第三方語音助手、手機App和雲後台等，實現了我們硬件、軟件應用和雲端一站式的產品服務戰略。
(三)股份支付費用影響
報吿期，公司實施新的股權激勵計劃，併疊加往年的股權激勵計劃致使本期股份支付費用同比增長18%-20%。
(四)非經營性損益的影響。
報吿期，非經營性損益主要系使用閒置資金購買銀行產品獲得的收益及政府補助。件應用和雲端一站式的產品服務戰略。
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