VGT(SZ:300476)2023-04-19 16:00Fundraising and Utilization - The total amount raised from the issuance of 86,095,566 shares at a price of RMB 23.23 per share was RMB 1,999,999,998.18, with a net amount of RMB 1,985,343,304.25 after deducting issuance costs[5]. - As of December 31, 2022, the company had utilized RMB 520,354,200.14 of the raised funds, with RMB 1,924,936.00 used in the current year[5]. - The company has ensured compliance with regulatory requirements regarding the management and use of raised funds, with no violations reported[8]. Project Developments - The company decided to terminate the "High-end Multi-layer, High-level HDI Printed Circuit Board and IC Packaging Substrate Construction Project" due to a temporary slowdown in demand in the PCB industry[8]. - The total investment commitment for the terminated project was RMB 150,000,000, with only 1.33% of the investment progress achieved by the end of the reporting period[8]. - The company plans to invest in Southeast Asia, including Vietnam and Thailand, to align with the development trends of its downstream customers[8]. Financial Performance - The company's operating revenue for 2022 was ¥7,885,154,597.80, representing a 6.10% increase from ¥7,432,014,584.88 in 2021[111]. - The net profit attributable to shareholders for 2022 was ¥790,645,750.25, a 17.93% increase compared to ¥670,424,694.74 in 2021[111]. - The net cash flow from operating activities increased by 56.49% to ¥1,240,274,753.73 from ¥792,544,304.82 in 2021[111]. Remuneration and Governance - The total pre-tax remuneration for the chairman, Chen Tao, is 130.51 million CNY[37]. - Liu Chunlan, a director, received a total pre-tax remuneration of 66.41 million CNY[37]. - The total remuneration for all directors, supervisors, and senior management personnel amounts to 732.73 million CNY[38]. Market Trends and Projections - The global PCB market value is projected to decline by 4.13% in 2023, following a growth rate adjustment from 2.9% to 1.01% for 2022[97]. - The total PCB market value in mainland China is expected to reach $51,133 million by 2027, reflecting a growth rate of 3.30%[99]. - The company anticipates a strong demand increase for PCB products driven by advancements in digital economy, AI, cloud computing, and green energy applications in the near future[97]. Research and Development - The company emphasizes innovation and has increased R&D investment to enhance its technological advantages and product layout[16]. - R&D investment for the year totaled ¥287 million, focusing on advanced products such as high-end automotive electronics and server circuit boards[164]. - The company has completed 68 R&D projects, including advancements in aluminum substrate copper plating technology and high-precision etching, which enhance product competitiveness and expand product categories[178]. Operational Efficiency - The total operating cost for 2022 was approximately 6.45 billion yuan, with raw materials accounting for 66.31% of the total[182]. - The inventory level decreased by 31.37% to 654,723 square meters in 2022, indicating improved inventory management[181]. - The company emphasizes cost control, benefiting from a decline in raw material prices and improved production efficiency[166]. Strategic Initiatives - The company has committed to a global strategic layout, leveraging its capital advantages[17]. - The company is actively expanding into new energy, artificial intelligence, and next-generation communication technology sectors, aligning with global market demands[177]. - The company has established subsidiaries and offices in regions including the US, Japan, Taiwan, Europe, Malaysia, and South Korea to provide global sales services and technical support, enhancing customer satisfaction[130].