OAKLAND\/HONG KONG: Chip technology<\/a> firm Arm China<\/a> suffered a 90% drop in profit last year despite revenue rising more than 30% during the first year management appointed by SoftBank Group<\/a> Corp took over, according to a financial document reviewed by Reuters.
The company, set up in 2018 as a joint venture of British chip technology firm Arm Ltd<\/a>, laid off nearly 100 employees last week, most of them engineers, Reuters reported exclusively on Friday.
Arm technology powers most global smartphones and the company counts Apple Inc and Qualcomm Inc<\/a> as customers.
SoftBank<\/a> had said early last year it was aiming to take Arm Ltd public by the end of March; last week Arm's CEO told Reuters the firm was committed to a listing this year.
The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. It accounts for 20%-25% of Arm Ltd's global revenue, according to two sources familiar with the situation.
One of the sources said the drop in Arm China's profit would not have a financial impact on Arm Ltd, whose royalty and licensing fee payments come before profit is calculated. In 2021, the China business paid Arm about $500 million, the two sources said. It is not clear how much Arm Ltd made from China last year.
\"The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. The new management team has quickly restored confidence with our China ecosystem, and we are pleased to have the previous management issues well behind us as we expand Arm technology into the China market,\" said Phil Hughes, Arm's vice president of external communications, in a prepared statement.
SoftBank and Arm China did not respond to requests for comment.
Arm China's net profit plunged to $3.2 million last year from $79.2 million in 2021, while revenue grew to nearly $890 million last year from $665 million the year before, according to the company's 2022 unaudited earnings statement, seen by Reuters and confirmed by another independent source.
According to the statement's footnote there is a $37 million loss in foreign exchange in 2022, compared with a gain of $9 million the previous year.
Both sources declined to be identified as the information was confidential.
Arm Ltd has been considered one of the better performing assets at SoftBank, where its startup investment Vision Fund has had four straight quarters of losses. The bulk of the loss at the fund in the latest reported quarter came from a steep decline in the valuation of investments in unlisted companies, but listed portfolio companies, Indonesian ride-hailing company Goto Gojek Tokopedia PT, South Korean e-commerce platform Coupang Inc and workspace provider WeWork Inc<\/a> also contributed to the loss.
ARM CHINA'S STRUGGLES<\/strong>
Arm China has been a challenging business for SoftBank to navigate. Set up in 2018 with longtime Arm executive Allen Wu as CEO, SoftBank allowed Chinese funds together to take a majority stake in the joint venture.
Wu is credited with expanding the China business, according to two sources familiar with the company. But the relationship between Wu and some of the major shareholders soured over conflict of interest issues around Wu's own investment fund. That turned into a two-year public battle as SoftBank worked to oust Wu.
To shield Arm Ltd from the China troubles as it aimed to take Arm public, SoftBank last March transferred Arm Ltd's stake in the joint venture into a separate special-purpose vehicle, according to two sources with knowledge of the matter. One of them said, however, that the official Chinese records still show Arm Ltd as a shareholder.
By late April 2022, SoftBank pushed out Wu from Arm China by physically and digitally blocking him, and put in place two CEOs, Eric Chen from SoftBank and Liu Renchen, vice dean at the Research Institute of Tsinghua University in Shenzhen.
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软银的手臂中国在2022年利润下降超过90%
公司成立于2018年的合资企业英国芯片技术公司的手臂,上周解雇了将近100名员工,其中大部分是工程师,据路透社报道,周五只。
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由简Lanhee李和凯恩
奥克兰/香港:芯片技术公司中国的手臂去年利润下降了90%,尽管收入增长超过30%在第一年管理任命的软银集团接管,根据路透金融文档评审。
公司成立于2018年作为英国芯片技术公司的合资企业手臂有限公司上周,裁员近100名员工,其中大多数工程师,据路透社报道,周五只。
部门技术力量最全球智能手机和苹果(aapl . o:行情)和公司数量高通(qcom . o:行情)作为客户。
软银去年早些时候曾说它的目标是手臂有限公司公共3月底;上周部门的首席执行官对路透表示,公司致力于今年上市。
中国业务是Arm芯片技术在中国的独家经销商,开发和销售自己的基于Arm的芯片设计。它占20%臂有限公司全球收入的-25%,据两位知情人士透露的情况。
臂下降的一个消息人士称,中国的利润不会产生财务影响手臂有限公司,版权和许可费用的支付之前计算利润。2021年,中国业务支付部门约5亿美元,这两个消息人士称。目前尚不清楚有多少手臂有限公司由中国去年。
“胳膊手臂的一部分中国有限公司IP业务表现很好,我们是未来的持续增长。新的管理团队已经迅速恢复了信心与我们中国的生态系统,我们很高兴有前面的管理问题远远落后于我们扩大臂技术进入中国市场,”休斯说,手臂外部交流的副总裁,在一份事先准备好的声明。
软银中国和手臂没有回应记者的置评请求。
手臂中国去年净利润跌至320万美元从7920万年的2021美元,而营收从6.65亿美元增长到去年的近8.9亿美元,根据2022年未经审计的财报的声明,证实了被路透社和另一个独立的来源。
根据声明的脚注有2022年亏损3700万美元的外汇,而获得900万美元的前一年。
两位消息人士不愿透露姓名的信息是保密的。
手臂有限公司一直被认为是表现更好的资产之一软银(SoftBank),其视力创业投资基金已经连续4个季度亏损。大部分的损失在国际货币基金组织在最新的季度报告来自一个急剧下降的投资于非上市公司的估值,但上市投资公司,印尼ride-hailing公司Goto Gojek Tokopedia PT,韩国电子商务平台Coupang Inc .和工作区提供者WeWork公司也造成了损失。
中国的斗争
手臂为软银中国是一个具有挑战性的业务导航。成立于2018年,长期Arm执行长艾伦吴作为首席执行官,软银允许中国共同基金合资企业的多数股权。
吴,扩大中国业务,据两位知情人士透露。但吴和一些主要的股东之间的关系恶化了吴的利益冲突问题的投资基金。变成了一个为期两年的公共战斗软银致力于推翻。
保护手臂有限公司从中国的麻烦,因为它旨在采取的手臂,软银去年3月手臂有限公司在合资企业的股份转移到一个单独的专用车辆,据两位知情人士。然而,其中一个说,中国官方记录仍显示手臂有限公司作为股东。
到2022年4月底,软银推出吴从身体和手臂中国数字挡住他,和实施两个ceo,埃里克·陈从软银和刘Renchen副院长在深圳清华大学研究院。
奥克兰/香港:芯片技术公司中国的手臂去年利润下降了90%,尽管收入增长超过30%在第一年管理任命的软银集团接管,根据路透金融文档评审。
公司成立于2018年作为英国芯片技术公司的合资企业手臂有限公司上周,裁员近100名员工,其中大多数工程师,据路透社报道,周五只。
部门技术力量最全球智能手机和苹果(aapl . o:行情)和公司数量高通(qcom . o:行情)作为客户。
软银去年早些时候曾说它的目标是手臂有限公司公共3月底;上周部门的首席执行官对路透表示,公司致力于今年上市。
中国业务是Arm芯片技术在中国的独家经销商,开发和销售自己的基于Arm的芯片设计。它占20%臂有限公司全球收入的-25%,据两位知情人士透露的情况。
臂下降的一个消息人士称,中国的利润不会产生财务影响手臂有限公司,版权和许可费用的支付之前计算利润。2021年,中国业务支付部门约5亿美元,这两个消息人士称。目前尚不清楚有多少手臂有限公司由中国去年。
“胳膊手臂的一部分中国有限公司IP业务表现很好,我们是未来的持续增长。新的管理团队已经迅速恢复了信心与我们中国的生态系统,我们很高兴有前面的管理问题远远落后于我们扩大臂技术进入中国市场,”休斯说,手臂外部交流的副总裁,在一份事先准备好的声明。
软银中国和手臂没有回应记者的置评请求。
手臂中国去年净利润跌至320万美元从7920万年的2021美元,而营收从6.65亿美元增长到去年的近8.9亿美元,根据2022年未经审计的财报的声明,证实了被路透社和另一个独立的来源。
根据声明的脚注有2022年亏损3700万美元的外汇,而获得900万美元的前一年。
两位消息人士不愿透露姓名的信息是保密的。
手臂有限公司一直被认为是表现更好的资产之一软银(SoftBank),其视力创业投资基金已经连续4个季度亏损。大部分的损失在国际货币基金组织在最新的季度报告来自一个急剧下降的投资于非上市公司的估值,但上市投资公司,印尼ride-hailing公司Goto Gojek Tokopedia PT,韩国电子商务平台Coupang Inc .和工作区提供者WeWork公司也造成了损失。
中国的斗争
手臂为软银中国是一个具有挑战性的业务导航。成立于2018年,长期Arm执行长艾伦吴作为首席执行官,软银允许中国共同基金合资企业的多数股权。
吴,扩大中国业务,据两位知情人士透露。但吴和一些主要的股东之间的关系恶化了吴的利益冲突问题的投资基金。变成了一个为期两年的公共战斗软银致力于推翻。
保护手臂有限公司从中国的麻烦,因为它旨在采取的手臂,软银去年3月手臂有限公司在合资企业的股份转移到一个单独的专用车辆,据两位知情人士。然而,其中一个说,中国官方记录仍显示手臂有限公司作为股东。
到2022年4月底,软银推出吴从身体和手臂中国数字挡住他,和实施两个ceo,埃里克·陈从软银和刘Renchen副院长在深圳清华大学研究院。
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