Great Wall of China (000066): Feiteng releases desktop CPU with significant performance improvements

Great Wall of China (000066): Feiteng releases desktop CPU with significant performance improvements

[Event]On September 19, 2019, Feiteng’s official website released information. Tianjin Feiteng Information Technology Co., Ltd. officially released a new-generation desktop processor FT-2000 / 4 independently developed by the company. The performance of this product reached a new high.

[Comment]1. The new product uses a new type of core, and the performance is significantly improved. The FT-2000 / 4 general-purpose computing processor chip integrates four independently developed processor cores FTC663, compatible with 64-bit ARMv8 instruction set, 16nm process, the highest frequency3.

0GHz, maximum power 10W.

This chip has achieved a new breakthrough in CPU core technology, further reducing the performance gap with mainstream desktop CPUs in the world.

TC663 is the latest generation of processor cores in the Feiteng FT66X series. Compared with the previous cores, it can be more advanced in architecture design and microstructure implementation, higher frequency, allowable, safer and more reliable.

2, with unique innovations in built-in security, supporting the national secret algorithm from the CPU to the built-in security of the reliable computing foundation, the built-in security of the system can provide a fundamentally trusted security rack for system security, Feiteng proposed an independent processor security platform架构标准 (Phytium安全平台架构),定义了飞腾芯片安全相关的软硬件实现规范。
FT-2000 / 4 supports the PSPA standard, supports SM2, SM3 and SM4 national secret algorithms, realizes trusted computing from the CPU scale, and effectively protects the safety of navigation information.

3, PK architecture adds a powerful desktop-level battle, to meet the future domestic independent tide FT-2000 / 4 is suitable for assembling desktop terminal computers, including desktop computers, all-in-one computers, notebook computers and thin clients, etc.”,” Core reduction “approach to achieve embedded low-power applications in key areas such as energy, transportation, chemical, and finance.

At present, FT-2000 / 4 has completed all debugging work with the domestic Galaxy Kylin operating system (PC version), and many domestic software manufacturers have also been committed 四川耍耍网 to the optimization and adaptation of FT-2000 / 4 and the new version of the operating system.

Including complete machine manufacturers such as Lenovo, Great Wall, Tongfang, Inspur, Dawning, and ODM manufacturers such as Baolongda, Lianda, Chuangzhicheng, Evonik, and Hanwei are using built-in FT-2000 / 4 desktops, notebooks, and all-in-onesDevelopment of various types of terminals and boards such as mobile phones, ruggedized notebooks, etc. Related products will be launched and put on the market one after another in Q4 2019.

In the professional CPU performance test software SPEC2006, the FT-2000 / 4 full-chip measured twin computing 61.

1. Floating point calculation is wonderful 62.

5. Ranking Feiteng’s previous generation desktop CPU FT-1500A / 4 increased nearly doubled, and the expansion of memory access increased by 3 times.

Through in-depth adaptation with domestic desktop operating systems, FT-2000 / 4 will provide an efficient, stable and reliable computing platform for more complex applications.

The FT-2000 / 4 chip supports perfect low-power design and power management. The maximum power consumption is only 10W, which is about 33% lower than the previous-generation FT-1500A / 4, achieving excellent CPU energy efficiency.

The chip supports power-off and dynamic frequency adjustment in units of Core. The chip power is reduced to 3 at a single core at 1GHz.

8W, and supports multiple low-power technologies such as system suspension and levitation, providing support for the continuous endurance of portable terminals.

Investment suggestion: Since its establishment, Tianjin Feiteng has always taken the mission of “providing high-efficiency domestic independent CPUs to ensure the security of the national information industry”, forming a complete CPU product lineage for embedded, terminal, and server applications. At the same time, it is committed to providing users withFull stack software and hardware solutions and technical services.

As of August 2019, Tianjin Feiteng has cooperated with more than 500 software and hardware partners to develop more than 300 types of complete products in 6 categories, assemble and optimize more than 1,000 types of software. Based on international mainstream technology standards, countries with Chinese characteristicsThe production of Feiteng ecosystem has basically taken shape, providing strong support for national information security and important industrial security.

The Great Wall of China holds 35% of Feiteng, escorting the PK system through its own BIOS and motherboard design capabilities and the expanding overall machine production capacity.

At present, domestic PCs have been promoted in the party, government, and military fields. The company has also been nervous to promote the company’s product conversion work. The problem has been quickly responded to zero, and product friendliness has been substantially improved.

The completion of the company’s Zhuzhou production line marks that the company’s independent controllable production capacity of 1 million is guaranteed. Through the establishment of new production lines in Shanxi and Henan, the production capacity has reached 2 million units. Next year, the demand for domestic independent PCs will increase by 10 times.The scale expansion laid a foundation for the company to ensure the completion of the comprehensive promotion of domestic independent PCs.

The semi-annual report of the company’s information security equipment and solutions revenue9.

With a gross profit margin of 7.5 billion, the company will face a tenfold demand next year, and the company’s receivables and profits are expected to explode.

It is estimated that the company’s net profit attributable to its parent in 2019-2021 will be 15 respectively.

42 billion, 17.

4.9 billion and 26.

3.7 billion, EPS is 0.

53 yuan, 0.

60 yuan and 0.

90 yuan, given a “strong recommendation” rating.

Risk warning: localization promotion is not up to expectations.