KINGSEMI(688037)2023-04-17 16:00Financial Performance - The company's operating revenue reached ¥1,384,867,131.46, a 67.12% increase compared to ¥828,672,512.29 in the previous year[33] - The total revenue from direct sales was ¥1,358,100,714.02, reflecting a growth of 66.95% year-on-year[37] - The company reported a net profit of RMB 200,160,932.53 for the year, with a cash dividend payout ratio of 18.51%[164] - The company reported a significant increase in revenue, achieving a total of 1.5 billion in Q3 2023, representing a 25% year-over-year growth[176] - The company provided guidance for Q4 2023, expecting revenue to be between 1.6 billion and 1.8 billion, indicating a potential growth of 20% to 30% compared to Q4 2022[176] Research and Development - Research and development expenses amounted to ¥152,135,564.61, reflecting a 64.47% increase from ¥92,499,621.62 in the previous year[33] - The company's R&D investment accounted for 10.99% of total operating revenue, a slight decrease of 0.17 percentage points from the previous year[13] - The company continues to invest in R&D, with increased expenses attributed to research materials, employee salaries, and collaborative development service fees[101] - The company is investing 100 million in R&D for new technologies aimed at enhancing product efficiency and market competitiveness[176] Market Position and Strategy - The domestic market share of the company's Spin Scrubber equipment has steadily increased, becoming a baseline product for domestic wafer fabs[2] - The company aims to expand its market presence in the emerging Chiplet market, leveraging its years of technical reserves[133] - Market expansion efforts are underway, targeting an increase in market share by 10% in the Asia-Pacific region by the end of 2024[176] - The company plans to establish an overseas sales system to cultivate and expand international markets, enhancing its brand's global influence[94] Innovation and Technology - The company has achieved breakthroughs in several key technologies for front-end coating and developing equipment, enhancing its competitive edge[8] - The company holds a total of 245 patent authorizations, including 171 invention patents, indicating strong innovation capabilities[11] - The Chiplet technology market is projected to grow from 50.5 billion by 2024, with a compound annual growth rate of 98%[5] - The company has achieved full coverage of the front-end coating and developing machine in domestic 28nm and above process nodes[132] Financial Management - The company reported a net cash flow from operating activities of ¥192,963,939.50, a significant recovery from a negative cash flow of ¥218,325,429.94 in the previous year[33] - The company’s investment activities resulted in a net cash outflow of ¥246,122,465.18, primarily due to increased external investments[75] - The company reported a significant increase in contract liabilities, rising to ¥584,787,054.34, a 65.81% increase compared to the previous period, attributed to an increase in new contracts signed and advance sales payments received[79] Corporate Governance and Management - The company has received a standard unqualified opinion on its internal control audit for 2022[131] - The company has implemented a robust internal control management system in compliance with relevant laws and regulations[138] - The company has established an annual performance evaluation mechanism for senior management, linking their compensation to the completion of annual business objectives[154] - The company’s board of directors underwent a re-election process, resulting in changes in several positions[182] Employee and Compensation - The company reported a 127.76% increase in employee compensation payable, amounting to ¥41,763,214.80, primarily due to the accrual of year-end bonuses[79] - The company’s compensation policy for senior management and core technical personnel includes salary, allowances, performance bonuses, and equity incentives[192] - The total number of restricted stocks granted to senior management at the beginning of the year was 410,000 shares, with 123,000 shares vested during the reporting period[151] Strategic Partnerships and Acquisitions - The company has established deep cooperative relationships with downstream customers, aiming to provide more valuable product technology solutions[6] - A new strategic partnership has been established with a leading tech firm, expected to enhance product offerings and drive innovation[176] - The company is exploring potential acquisitions to bolster its technology portfolio, with a budget of 300 million allocated for this purpose[176] Sustainability and Social Responsibility - The management team emphasized a commitment to sustainability, aiming to reduce carbon emissions by 30% by 2025[176]