Eontec(300328)2023-04-26 16:00Manufacturing and Technological Capabilities - The company has installed and debugged the world-leading Bühler 6100T ultra-large die-casting machine at Zhuzhou Yian Precision Manufacturing Co., Ltd[66] - The company has over 20 years of experience in new material R&D, precision mold design, mechanical preparation, die-casting molding, and production, with a focus on liquid metal R&D and industrialization for more than 10 years[67] - The company has more than 100 advanced magnesium-aluminum alloy die-casting machines and a full range of high-end testing instruments[72] - The company has a complete vertical integration capability from mold design and development to die-casting molding, precision machining, surface treatment, spraying, testing, and packaging[72] - The company has over 100 magnesium and aluminum alloy die-casting machines, including several 650T Toshiba die-casting machines for notebook casings, and has introduced a 650T JSW semi-solid magnesium alloy die-casting machine for notebook casing mass production[73] - The company plans to introduce a large 6100T aluminum-magnesium alloy die-casting machine to advance towards integrated die-casting technology for automotive components[73] - The company has over 40 liquid metal vacuum forming machines, including the world's largest liquid metal forming machine, with production experience for 14-inch large-size components[74] - The company has a large-scale 27-inch magnesium alloy component with a wall thickness of 1.2mm and a 14-inch notebook casing with a wall thickness of 0.45mm in mass production[73] - The company has completed the installation and debugging of a 6100-ton super-large die-casting machine purchased from Bühler Group for the Zhuzhou Yian Precision New Energy Vehicle Integrated Die-Casting Project[80] - The company has advanced quality assurance equipment and a large testing center, providing comprehensive precision die-casting product testing capabilities and holding certifications such as ISO9001:2015, IATF16949:2016, and ISO14001:2015[75] - The company completed the research tasks of the national key R&D project on semi-solid rheocasting technology for aluminum alloy thin-walled parts, achieving a defect prediction accuracy of ≥95% and a qualified rate of ≥98% for 2000 consecutive productions[105] - The company successfully developed high-performance aluminum alloys for rheocasting with σ0.2>200MPa, σb>300MPa, and δ≥8%[105] - The company established a computational platform integrating modeling, macro-micro simulation, and mold design for semi-solid rheocasting technology[105] - The company achieved a single-time slurry preparation of ≥50kg in less than 20 seconds, with primary particle equivalent diameter ≤50μm[105] Partnerships and Market Presence - The company is the exclusive Tier 1 supplier of liquid metal door lock covers for Tesla's Model X[68] - The company has entered the supply chains of international and domestic renowned customers such as Tesla, CATL, Geely, TKP, HBA, TRW, GKN, Honeycomb, LG, Faurecia, Continental, Alpine, and BOSCH[80] - The company has established partnerships with renowned clients such as Tesla and Amphenol for liquid metal hinge components, which are critical for foldable smartphones[82] - The company has established collaborations with major clients like Huawei, Lenovo, Meta, and GoPro, focusing on the development of wearable devices, VR, and other consumer electronics[87] Research and Development - The company has established multiple research platforms, including the "Guangdong Provincial Academician Expert Workstation" and "National Postdoctoral Research Workstation"[71] - The company has formed strong partnerships with renowned research institutions such as the Chinese Academy of Sciences' Institute of Metal Research and Northwestern Polytechnical University[71] - The company's biodegradable magnesium bone fixation screw received CE certification from the EU in May 2020, making it the first globally approved product for this indication[70] - The company's biodegradable magnesium bone fixation screw completed clinical trials with 184 cases enrolled across 9 clinical research centers in China by February 2023[70] - The company is actively promoting global certification and sales of its biodegradable magnesium bone fixation screw in key regions including the US, Russia, India, and Brazil[70] - The company has completed the recruitment of 184 cases for the clinical trial of biodegradable magnesium bone screws, with all cases showing good postoperative follow-up results and no adverse events related to the device[85] - The company's liquid metal and magnesium-aluminum alloy materials are increasingly used in consumer electronics due to their high strength and lightweight properties, driven by the integration of 5G, IoT, AI, and VR technologies[86] - The company is expanding the application of liquid metal in various fields including new energy vehicles, consumer electronics, medical devices, and communication base stations, with products like USB interfaces and camera decorations already in mass production[83] Financial Performance - The company achieved a revenue of 1,615.9865 million yuan in 2022, a year-on-year increase of 51.06%, and a net profit attributable to shareholders of 3.2556 million yuan, a year-on-year increase of 101.63%[78] - The company's automotive parts business revenue reached 909.6517 million yuan in 2022, a year-on-year increase of 76.05%[80] - The top five customers accounted for a total sales amount of 534,688,802.87 yuan, representing 33.09% of the annual sales[102] - The top five suppliers accounted for a total procurement amount of 428,366,207.28 yuan, representing 40.11% of the annual procurement[103] - Sales expenses decreased by 3.00% year-on-year to 40,714,161.38 yuan[104] - Management expenses increased by 7.38% year-on-year to 101,840,073.46 yuan[104] - Financial expenses increased significantly by 65.97% year-on-year to 19,914,006.23 yuan, mainly due to increased interest expenses from additional financing[104] - R&D expenses increased by 7.33% year-on-year to 88,393,870.92 yuan[104] Corporate Governance and Leadership - The company held 4 general meetings of shareholders during the reporting period, ensuring compliance with relevant laws and regulations, and safeguarding the rights of all shareholders, especially minority shareholders[153] - The board of directors consists of 9 members (8 at the end of the reporting period), including 3 independent directors, all of whom possess the necessary knowledge, skills, and qualities to perform their duties[155] - The company established a comprehensive corporate governance structure, including a general meeting of shareholders, board of directors, and supervisory board, forming a complete internal control system[152] - The board of directors held 9 meetings during the reporting period, with all procedures and resolutions complying with laws, regulations, and the company's articles of association[155] - The company's governance structure and internal control system were continuously improved during the reporting period, enhancing the level of standardized operations and protecting the legitimate rights and interests of all shareholders[152] - The board of directors has four specialized committees: strategy committee, compensation and evaluation committee, audit committee, and nomination committee, which strictly perform their duties in accordance with relevant laws and regulations[155] - Independent directors independently performed their duties in accordance with the company's articles of association and independent director work system, providing independent opinions on matters involving the interests of minority investors[155] - The company strictly followed relevant laws, regulations, and regulatory requirements when submitting major matters requiring shareholder approval to the general meeting of shareholders for review and disclosure[154] - The company's governance aspects were generally in compliance with the "Corporate Governance Guidelines for Listed Companies" and relevant laws and regulations at the end of the reporting period[152] - The company's general meetings of shareholders included both on-site and online voting, with a dedicated shareholder speaking session to ensure minority shareholders' right to express their opinions[153] - The company held 7 board of supervisors meetings during the reporting period, with no vetoed resolutions or financial report discrepancies found[157] - The company's actual controller, Zhuzhou SASAC, and controlling shareholder, Zhuzhou State-owned Assets Investment, strictly complied with regulations and did not interfere with company decisions or operations[160] - The company maintains independence in business, assets, personnel, organization, and finance from its controlling shareholders and actual controllers[163][164][165][166][167][168] - The company held 4 general meetings in 2022, with investor participation rates ranging from 0.0007% to 0.10%[169][170] - The company has a complete and independent R&D, procurement, production, and sales system, operating independently in the market[164] - The company possesses independent production facilities, land use rights, office buildings, and intellectual property rights[165] - Senior management personnel are independent from controlling shareholders and do not hold positions or receive salaries from affiliated enterprises[166] - The company maintains independent financial systems, bank accounts, and tax filing, separate from controlling shareholders[168] - The company strictly follows information disclosure regulations and maintains transparent communication with investors through multiple channels[159] - The company's governance status shows no significant differences from legal and regulatory requirements for listed companies[162] - Li Yangde, the former chairman, reduced his holdings by 25,908,000 shares, leaving him with 80,027,000 shares, due to personal financial needs[172] - Tang Tiezhuang, the current director and general manager, reduced his holdings by 800,000 shares, leaving him with 2,402,500 shares, due to personal financial needs[172] - Yang Jiedan, the current director, reduced her holdings by 800,000 shares, leaving her with 2,402,500 shares, due to personal financial needs[172] - Li Weirong, the current vice general manager and technical director, reduced his holdings by 800,000 shares, leaving him with 2,402,500 shares, due to personal financial needs[172] - Zhang Chunlian, the former director and vice general manager, reduced her holdings by 500,000 shares, leaving her with 1,902,500 shares, due to personal financial needs[174] - Huang Ming, the former vice general manager, reduced his holdings by 800,000 shares, leaving him with 2,402,500 shares[174] - Total holdings of directors, supervisors, and senior management decreased by 29,608,000 shares, leaving a total of 91,539,500 shares[174] - Li Kui was removed from his position as non-independent director on March 31, 2022, due to suspected serious disciplinary violations[177] - Yi Hongxing resigned as director and vice general manager on August 17, 2022, due to job changes[178] - Zhang Chunlian resigned as director and vice general manager on August 31, 2022, due to personal reasons[179] - Zhou Shuyong has been serving as the Director of the company since March 2022, with a background in engineering and business management[181] - Liu Shoujun has been the Chairman of the company since June 2022, with extensive experience in asset management and finance[183] - Tang Tiezhang has been the General Manager and Director of the company, with a long history in production management and leadership roles[183] - Chen Xiaoxiong has been the Director and Deputy General Manager of the company since September 2022, with experience in industrial development and IT services[184] - Yang Jiedan has been a Director of the company since 1993, with a background in medical device and casting industries[184] - Zeng Chaohui has been the Director and Deputy General Manager of the company, with a focus on sales and liquid metal technology[185] - Xu Minli has been an Independent Director of the company, with expertise in operations management and supply chain[185] - Liu Jianqiu has been an Independent Director of the company, specializing in accounting and corporate social responsibility[186] - Xiang Rong has been an Independent Director of the company, with a strong background in materials science and nanotechnology[187] - Xiong Hui has been the Chairman of the Supervisory Board and Deputy Manager of the Human Resources Department since 1996[187] - The company's total actual remuneration paid to directors, supervisors, and senior management in 2022 was 10.8031 million yuan[195] - Li Weirong, the company's Vice President and Technical Director, also serves as the legal representative and manager of Dongguan Magnesium Medical Devices Co., Ltd., and holds multiple executive positions in other related companies[191] - Li Wenping, the company's CFO, concurrently serves as the director and CFO of Chaohu Yi'an Yunhai Technology Co., Ltd., and as the supervisor of Zhuzhou Yi'an New Materials R&D Co., Ltd.[192] - The company's directors and supervisors receive remuneration determined by the "Company Director, Supervisor, and Senior Management Remuneration Management System," which requires approval from the shareholders' meeting or the board of directors[195] - Zhou Shuyong, a director of the company, concurrently serves as the Party Secretary and Chairman of Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., and receives remuneration from the shareholder unit[193] - Mo Hongbo, a director of the company, holds multiple positions including Chairman of Zhuzhou Yi'an Precision Manufacturing Co., Ltd. and Zhuzhou Yi'an New Materials R&D Co., Ltd.[194] - The company's senior management, including Vice Presidents and the Board Secretary, received remuneration ranging from 32.5 to 95.83 thousand yuan in 2022[196] - Li Yangde, the former Chairman of the company, received a total pre-tax remuneration of 180.8 thousand yuan in 2022[196] - The company's independent directors received a fixed remuneration of 8 thousand yuan each in 2022[196] - The company's remuneration for directors, supervisors, and senior management is determined based on their roles and responsibilities, with no remuneration received from related parties for most positions[196] Market Trends and Industry Insights - The global shipment of foldable phones in 2022 reached 14.2 million units, a significant increase from 8 million units in 2021, with China's foldable phone market shipments reaching nearly 3.3 million units, a year-on-year increase of 118%[81] - As of the end of 2022, China had built and activated 2.312 million 5G base stations, accounting for over 60% of the global total, with the company actively participating in the production of 5G base station components like filters and heat dissipation shells[88] Investment and Expansion - The company has invested 326.947 million yuan in the expansion project for amorphous alloy (liquid metal) precision structural components, with a cumulative investment of 2.690928 billion yuan by the end of the reporting period[91]