惠州市德赛西威汽车电子股份有限公司 股票代码：002920 股票简称：德赛西威 惠州市德赛西威汽车电子股份有限公司 投资者关系活动记录表 编号：2023-009 投资者关系活动类 √ 特定对象调研 □分析师会议 别 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □ 现场参观 □其他 （请文字说明其他活动内容） 天虫资本管理有限公司 区志航 中邮人寿保险股份有限公司 朱战宇 泓德基金管理有限公司 王克玉 | --- | --- | |--------------------------------------|--------| | 上海高毅资产管理合伙企业（有限合伙） | 刘孟雷 | | Schroders 孙雨 | | | 浦银安盛基金管理有限公司 李秀群 | | | 诺安基金管理有限公司 黄友文 | | | 长江证券 高伊楠 | | | 长盛基金管理有限公司 张君平 | | | 统一投信 Zach Lin | | | 浦银理财有限责任公司 陈金盛 | | | 富国基金管理有限公司 顾飞飞 | | | 景顺长城基金管理有限公司 曹雅倩 | | | 国金证券 赵彤 | | | 中信保诚基金管理有限公司 ...

惠州市德赛西威汽车电子股份有限公司2023年第一季度报告 证券代码：002920 证券简称：德赛西威 公告编号：2023-019 惠州市德赛西威汽车电子股份有限公司 2023 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经审计 □是 否 ...

Financial Performance - Company's revenue grew by 56% year-on-year, reaching 14.933 billion yuan, marking the first time it surpassed the 10 billion yuan milestone[1] - Revenue in 2022 reached 14,932,905,788.50 yuan, a year-on-year increase of 56.05%[19] - Net profit attributable to shareholders of the listed company in 2022 was 1,183,845,528.12 yuan, a year-on-year increase of 42.13%[19] - Basic earnings per share for 2022 were 2.15 yuan per share, a year-on-year increase of 42.38%[6] - Revenue in Q4 2022 was 4,821,995,674.87 yuan, the highest among all quarters[22] - Net profit attributable to shareholders of the listed company in Q4 2022 was 491,570,521.91 yuan, the highest among all quarters[22] - The company achieved a total operating income of 14,932,905,788.50 yuan in 2022, a year-on-year increase of 56.05%[47] - Net profit attributable to the parent company was 1.184 billion yuan, a year-on-year increase of 42.13%[36] Orders and Market Share - New project orders reached a historic high of 20 billion yuan on an annualized basis, laying a solid foundation for future growth[1] - The company's order scale has achieved a compound annual growth rate of 70% since 2020[3] - The company's market share of Chinese brand passenger vehicles reached 56.8% in 2022[1] - The company's revenue in 2022 reached 14.933 billion yuan, a year-on-year increase of 56.05%, with new project orders exceeding 20 billion yuan[36] - Smart cockpit product revenue and new project orders both exceeded 10 billion yuan in 2022[38] - Smart driving business revenue increased by 83% year-on-year in 2022, with new project orders approaching 8 billion yuan[40] R&D and Innovation - R&D investment accounted for over 10% of the company's revenue in 2022[4] - R&D investment reached approximately 1.663 billion yuan in 2022, with 234 new patents authorized[31] - The company's IPU02 intelligent driving domain controller product passed ASIL D functional safety certification in 2022[32] - R&D investment in 2022 was 1.663 billion yuan, accounting for 11.14% of sales, with R&D personnel accounting for 44.49% of the total workforce[37] - The company added 234 authorized patents in 2022, bringing the total number of patents to over 50 international and domestic standards[38] - R&D expenses increased by 64.98% YoY to RMB 1,612,535,631.78, mainly due to increased R&D personnel and compensation[56] - Total R&D investment increased by 72.83% YoY to RMB 1,663,496,908.34[58] - R&D personnel increased by 54.81% YoY to 3,494, accounting for 44.49% of total employees[59] - R&D investment as a percentage of revenue increased by 1.08% YoY to 11.14%[60] - Capitalized R&D investment increased by 177.30% YoY to RMB 119,023,401.33, accounting for 7.16% of total R&D investment[60] International Expansion - The company has established a second factory in Europe, a new office in Toyota City, Japan, and is preparing a factory in Mexico as part of its international expansion strategy[4] - The company acquired "Antenna Technology Center (Europe) GmbH" (ATC) in October 2022, enhancing its capabilities in smart antenna R&D, manufacturing, testing, and certification[42] - The company established four new subsidiaries in 2022, including Antenna Technology Center (Europe) ATC GmbH and PT DESAYSV AUTOMOTIVE INDONESIA, to expand its international presence[52] - The company established a new subsidiary, Shenzhen Desay SV Automotive Electronics Co., Ltd., in October 2022, with a 100% direct ownership[174] - The company acquired Antenna Technology Center (Europe) ATC GmbH in September 2022, with 100% indirect ownership[174] - The company established PT DESAYSV AUTOMOTIVE INDONESIA in November 2022, with 100% indirect ownership[174] - The company established Shenzhen Desay SV Industrial Investment Co., Ltd. in December 2022, with 100% direct ownership[174] Business Segments - The company focuses on three major business groups: smart cockpit, intelligent driving, and connected services[28] - The intelligent cockpit segment contributed 78.72% of the total operating income, amounting to 11,755,461,989.34 yuan, with a year-on-year growth of 47.97%[47] - The intelligent driving segment saw a significant year-on-year increase of 83.07%, reaching 2,571,333,918.26 yuan, accounting for 17.22% of the total operating income[47] - The company's high-performance smart cockpit products achieved mass production and secured new project orders from major clients such as Changan Ford and Geely Auto[39] - The company's smart driving domain controller IPU04 achieved mass production with Ideal Auto and has a large number of orders in hand[41] - The company secured new project orders in connected services from Audi China, Porsche, and FAW-Volkswagen, covering OTA, Blue Whale OS, and cybersecurity[42] Sustainability and Corporate Responsibility - The company has added three new sustainability goals: safety and reliability, growth and win-win, and green environmental protection[1] - The company was awarded the ISO/SAE 21434 automotive cybersecurity process certification in July 2022[34] - The company's 2022 Sustainability Report, which includes environmental and social responsibility information, is available on the website of CNINFO[153] - The company's efforts in rural revitalization and poverty alleviation are detailed in the 2022 Sustainability Report on the website of CNINFO[154] - The company is not listed as a key pollutant discharge unit by environmental protection departments[152] Corporate Governance - The company revised its Articles of Association and Shareholders' Meeting Rules to strengthen corporate governance and protect the rights of minority shareholders[99] - The company's board of directors consists of 9 members, including 3 independent directors, one of whom is an accounting professional, ensuring compliance with regulatory requirements[100] - The company maintains strict independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance[103] - The company has an independent financial department and accounting system, ensuring financial independence and compliance with tax regulations[104] - The company held two extraordinary general meetings in 2022, with investor participation rates of 69.58% and 71.37% respectively[105] - The 2021 Annual General Meeting had an attendance rate of 71.11%[106] - The 2022 Third Extraordinary General Meeting had an attendance rate of 69.28%[106] - The 2022 Fourth Extraordinary General Meeting had an attendance rate of 69.41%[106] Human Resources and Talent Development - Total number of employees at the end of the reporting period is 7,854, with 7,273 in the parent company and 581 in major subsidiaries[134] - Employee composition includes 3,284 production personnel, 114 sales personnel, 3,494 technical personnel, 45 financial personnel, 312 administrative personnel, and 605 logistics and procurement personnel[134] - Educational background of employees: 20 with PhD, 511 with master's degree, 3,366 with bachelor's degree, 880 with college diploma, 792 with high school diploma, and 2,285 with technical school or below[135] - The company has implemented a performance-based compensation system that aligns with business growth and employee performance[136] - In 2022, the company's Learning and Development Center empowered over 500 management and leadership talents through comprehensive leadership training programs[137] - Technical talent training increased by 53% in 2022, with a focus on software domain development[137] - The company launched a campus recruitment technical training program to explore the cultivation of technical talents[137] - International talent development was accelerated through language training and overseas exchange programs[137] - Over 300 new graduates were integrated into the company through the "Yaoguang Star Plan" and "Polaris Plan" in 2022[137] - The Learning and Development Center conducted 37 action learning projects and developed over 220 self-developed courses with a teaching team exceeding 200 members[138] Cash Flow and Financial Position - Net cash flow from operating activities in 2022 was 609,599,866.63 yuan, a year-on-year decrease of 27.68%[19] - Total assets at the end of 2022 were 13,756,100,585.19 yuan, a year-on-year increase of 35.51%[19] - Equity attributable to shareholders of the listed company at the end of 2022 was 6,476,778,469.74 yuan, a year-on-year increase of 21.32%[19] - Operating cash inflow increased by 55.76% YoY to RMB 14,970,722,111.14, while operating cash outflow increased by 63.78% YoY to RMB 14,361,122,244.51[61] - Net cash flow from operating activities decreased by 27.68% YoY to RMB 609,599,866.63, mainly due to increased inventory for business growth[61] - Net cash flow from investing activities decreased by 35.37% YoY to RMB -1,046,048,150.21, mainly due to increased investment in fixed assets such as plants and equipment[61] - Net cash flow from financing activities decreased by 21.03% YoY, mainly due to repayment of bank credit loans and increased dividend distribution[62] Risk Management and Mitigation - The company faces risks from macroeconomic environment and industry changes, including chip supply and raw material price increases, and has implemented measures such as improving supply chain transparency and strategic partnerships to mitigate these risks[89] - The company is increasing investment in technological innovation to keep up with industry trends such as smart driving, vehicle networking, and energy conservation, and to maintain core competitiveness[90] - The company is addressing human resource risks by establishing branches in talent hubs, improving incentive mechanisms, and developing a stable technical talent ladder structure[92] - The company conducted foreign exchange hedging to lock in exchange rate risks, avoiding speculative and arbitrage transactions[73] - The fair value of derivatives is determined based on the difference between the contract price and the forward exchange rate quoted in the foreign exchange market on the balance sheet date[73] - The company did not engage in any speculative derivative investments during the reporting period[74] Investor Relations and Communication - The company has been actively engaging with institutional investors, discussing topics such as smart cockpit business progress, order acquisition for three major businesses, and IPU04 R&D progress[93] - The company has been discussing its smart driving business, product forms, and business planning with institutional investors, as well as its views on the competitive landscape[93] - The company has been updating institutional investors on its 2021 smart cockpit and smart driving business progress, as well as its business expansion[94] - The company has been discussing its smart cockpit domain controller progress, smart driving sensor product progress, and smart driving performance highlights with institutional investors[94] - The company has been addressing questions about the development rhythm and customer expansion of IPU03 and IPU04 domain controllers during its 2021 online performance briefing[94] Strategic Goals and Future Plans - The company's strategic focus is on three core business groups: smart cockpit, intelligent driving, and connected services, aiming to become a world-class supplier in these areas[87] - The company plans to further develop L3 and L4 level autonomous driving technologies, focusing on perception fusion algorithms, control strategies, V2X, 5G, and cybersecurity[87] - The company aims to provide cloud-based software platforms and data analysis services to enhance information security and create new value growth opportunities for ecosystem partners[87] - The company's strategic implementation focuses on customer-centric operations, global growth, efficient organizational operations, and leading product R&D and technology[87] - The company aims to become the preferred partner in the transformation of mobility by deploying advanced manufacturing, quality assurance, and open industrial collaborative innovation[87] - The company will continue to invest in the future with a focus on culture building, customer service, technological R&D, organizational management, ecosystem development, talent reserve, and internationalization to enhance competitiveness[88] Internal Controls and Compliance - The company's internal control evaluation report was fully disclosed on March 30, 2023, and can be accessed via the website of CNINFO[147] - The internal control audit report was also fully disclosed on March 30, 2023, and is available on the website of CNINFO[150] - The internal control audit report issued by the accounting firm is consistent with the self-evaluation report of the board of directors[150] - The company maintained effective financial reporting internal control in all material aspects as of December 31, 2022, according to the internal control audit report[150] - No significant defects were found in the financial and non-financial reports for the year 2022[148] Related Party Transactions - The company's total related-party transactions with Fursai Automotive Electronics Co., Ltd. amounted to RMB 123,503,270, accounting for 8.63% of similar transactions[178] - The company's related-party transactions for technical services with Fursai Automotive Electronics Co., Ltd. amounted to RMB 6,812,930, accounting for 15.77% of similar transactions[178] - The company's total related-party transactions for the year amounted to RMB 133,018,440[180] - The company's related-party transactions for leasing services amounted to RMB 552,800, accounting for 24.73% of similar transactions[180] - No asset or equity acquisition or sale-related transactions occurred during the reporting period[181] - No joint external investment-related transactions occurred during the reporting period[182] - No related party debt or credit transactions occurred during the reporting period[183] - No financial transactions such as deposits, loans, or credit occurred between the company and its related financial institutions[184] - The total approved external guarantee quota at the end of the reporting period was 0 million RMB[186] - The company had no other significant related party transactions during the reporting period[187] - The total approved guarantee quota for subsidiaries at the end of the reporting period was 40,179 million RMB, with an actual guarantee balance of 30,484.28 million RMB[191] - The total approved guarantee quota during the reporting period was 14,000 million RMB, with an actual guarantee amount of 4,305.28 million RMB[197] - The company's entrusted wealth management funds amounted to 46,000 million RMB, with 45,000 million RMB still outstanding[200] Shareholder Commitments and Governance - Desay SV Automotive Co., Ltd. (德赛西威) has fulfilled its commitment to avoid同业竞争, with Desay Group承诺在持有公司股份期间不从事任何与公司构成竞争的业务或活动[155] - Desay Group承诺在锁定期满后两年内减持股份的价格不低于发行价, 该承诺已于2022年12月26日履行完毕[155] - 公司董事、监事、高级管理人员承诺每年转让的股份不超过其所持有公司股份总数的25%, 且离职后半年内不转让所持有的公司股份[156] - Desay Group承诺若公司招股说明书存在虚假记载、误导性陈述或重大遗漏, 将依法购回已转让的原限售股份并赔偿投资者损失[156] - 公司承诺若招股说明书存在虚假记载、误导性陈述或重大遗漏, 将依法回购首次公开发行的全部新股并赔偿投资者损失[158] - 公司承诺若未履行回购股份及赔偿投资者损失的义务, 将立即停止现金分红计划、重大资产购买、出售等行为, 以及增发股份、发行公司债券等资本运作行为[159] - The company will use the interest from bank deposits during the relevant period to fulfill its commitment to repurchase shares and compensate investors for losses[160] - The company will accelerate the implementation of fundraising projects to enhance investment returns and ensure the efficient use of funds[161] - The company will strictly execute the current dividend policy and actively promote profit distribution to shareholders to protect investors' rights[161] - The company will optimize its governance structure, strengthen internal controls, and maintain lean operations to control costs effectively[162] - The company commits not to transfer benefits to other entities under unfair conditions or harm the company's interests[162] - The company's major shareholders will not reduce their holdings within two years after the lock-up period expires, and any reduction will not exceed 10% of the total shares held at the end of the previous year[163] - If the company violates its commitments, it will publicly explain the reasons, apologize to shareholders, and take measures such as repurchasing shares and compensating for losses[164] - The company's major shareholders, including Weili De and Weili Jie, have committed to reducing their holdings by no more than 100% of the total shares held at the end of the previous year within two years after the lock-up period expires[165] - Huichuang Investment, a major shareholder, has pledged to avoid any business activities that compete with the company and its subsidiaries during the period of holding shares[167] - Huichuang Investment has also committed to reducing its holdings by no more than 10% of the total shares held at the end of the previous year within two years after the lock-up period expires[167] - In case of any violation of the reduction commitments, the shareholders will be required to publicly explain the reasons, apologize, and return any profits gained from the violation to the company[168] - Huichuang Investment has promised to repurchase any shares sold in violation of the commitments within 10 trading days and extend the lock-up period by 3 months[168] - The company has confirmed that its IPO prospectus and summary do not contain any false records, misleading statements, or major omissions[169] - In the event of any false records, misleading statements, or major omissions in the IPO prospectus, Huichuang Investment will repurchase the original restricted shares within 10 trading days after regulatory confirmation[169] - Huichuang Investment has committed to compensating investors for any losses incurred due to false records, misleading statements, or major omissions in the IPO prospectus[170] - Huichuang Investment has pledged not to interfere with the company's management activities or encroach on the company's interests as part of measures to mitigate the risk of diluted immediate returns from the IPO[170] Audit and Financial Reporting