Brief Introduction

Who We Are

Espressif Systems (688018.SH) is a public, multinational, fabless, semiconductor company established in 2008, with nearly 500 members of staff working from across the globe, as of May 2021. We have offices in China, the Czech Republic, India, Singapore and Brazil. In July 2019, Espressif made a successful Initial Public Offering on the Sci-Tech Innovation Board (STAR) of the Shanghai Stock Exchange (SSE).

We have a passionate team of engineers and scientists from all over the world, focused on developing cutting-edge operating systems, solution frameworks and AIoT products that combine WiFi-and-Bluetooth connectivity, while decreasing energy consumption. We are committed to offering solutions that are secure, robust and power-efficient.

Additionally, we believe in the democratisation of technology and, therefore, we keep our technology open-source. This way we enable developers to use Espressif's products and services globally, when building their own smart-connected devices.

What We Do

We take pride in providing the best hardware and software to our customers, and we are dedicated to enabling them reduce development time and deliver products with optimized wireless connectivity. This is why Espressif chips, modules and development boards are widely deployed in numerous products, such as tablets, cameras and AIoT gadgets.

Thus far, Espressif has created the popular ESP8266, ESP32, ESP32-S and ESP32-C series of chips, modules and development boards. By advancing wireless computing, we provide green, versatile and cost-effective chipsets.

In 2016, Espressif was a pioneer in combining IoT and AI, with the launch of ESP32. Having a powerful 240 MHz dual-core processor and 8 MB of flash memory, ESP32 supports a wake-word engine, speech and face recognition. In 2021, we are proud to be taking our SoC offering to the next level, with ESP32-C6, which adds Wi-Fi 6 capabilities to our product portfolio. ESP32-C6 is a new Wi-Fi 6 + Bluetooth 5 (LE) SoC that has already been certified by the Wi-Fi Alliance, after the successful launching of ESP32-C3, with Wi-Fi 4 and Bluetooth 5 (LE) capabilities, at the end of 2020.

Our open-source operating systems (ESP-IDF, MDF, ADF) and our solution frameworks are being used by thousands of device manufacturers and independent developers from around the world on a daily basis. They entrust the development of their applications to Espressif Systems, because they know that our portfolio of products and services, along with our tried and tested solutions, reduce time to market, and improve the reliability of AIoT applications.

In fact, there are more than 55,000 open-source, Espressif-powered projects on GitHub, a major international platform for software development, where Espressif is ranked 59th on a global scale, and fifth within China, for projects built with the C language. Finally, more than 70 books have been written about ESP8266 and ESP32 by technical authors in 10 languages, including English, Dutch, German, Italian, Spanish, Portuguese, Serbo-Croatian, Russian, Chinese, and Japanese.

Company Overview

Full name Espressif Systems (Shanghai) Co., Ltd.
Abbreviations Espressif Systems
Code 688018
Founded 2008-04-29
Listing 2019-07-22
Domicile Shanghai
STAR Theme New Generation IT
CSRC Sector Information transmission, software and ITservices
Has weighted voting rights structure? No



  2020 2019 2018
Earnings Per Share 1.30 2.32 1.56
R&D expenditure as a % of operating revenue 23.19% 15.81% 15.77%
Operating Revenue 831.29 757.43 474.92
Net Income 104.05 158.51 93.88

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 831.29 757.43 474.92
Operating Costs 488.05 401.24 234.32
Operating Income 110.46 168.89 104.92
Pretax Income 110.46 172.06 106.59
Income Tax 6.41 13.56 12.71
Net Income 104.05 158.51 93.88

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 1,772.49 1,680.76 353.23
Non-current Assets-Total 57.14 44.28 24.25
Total Assets 1,829.63 1,725.05 377.48
Current Liabilities-Total 137.68 77.21 47.03
Non-current Liabilities-Total 50.82 38.02 19.21
Total Liabilities 188.50 115.22 66.24
Stockholder's Equity
Share Capital 1,315.14 1,294.43 160.36
Retained Profits 325.99 315.39 150.88
Total Owners' Equity 1,641.13 1,609.82 311.24

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 36.06 102.32 72.86
Net Cash Flows-Investing 423.82 -1,272.06 32.07
Net Cash Flows-Financing -68.04 1,131.97 -

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Espressif (Hong Kong) Investment Limited 34.86 43.56
亚东北辰投资管理有限公司 4.89 6.11
Shinvest Holding Ltd. 4.12 5.15
Jingyang Wang 1.67 2.08
招商银行股份有限公司-华夏上证科创板50成份交易型开放式指数证券投资基金 1.61 2.01
Tianjin Gold Mi Investment Partners (Limited Partnership) 1.50 1.87
Beijing Singularity Power Investment Fund (Limited Partnership) 1.20 1.49
宁波梅山保税港区乐鲀投资管理合伙企业(有限合伙) 1.16 1.45
中国银行股份有限公司-国泰CES半导体芯片行业交易型开放式指数证券投资基金 1.00 1.25
Midea Innovation Investment Co., Ltd. 0.86 1.08
As of 2021-03-31

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