Financial Performance - For the year ended December 31, 2021, the total revenue of the group was approximately HKD 322,981,000, representing a 19% increase compared to the previous year[12]. - The overall gross profit was approximately HKD 141,829,000, which is a 5% increase year-on-year[12]. - Profit attributable to equity holders of the company was HKD 38,282,000, marking a significant growth of 95% compared to the previous year[12]. - The group's core business revenue for the year ended December 31, 2021, was approximately HKD 322.98 million, representing a year-on-year increase of about 19%[42]. - The overall gross profit for the company increased to approximately HKD 141.83 million, up about 5% year-on-year[42]. - The profit attributable to equity holders for the year significantly rose to approximately HKD 38.28 million[42]. - The company's operating revenue and securities investment income for 2021 was HKD 322,981,000, an increase of 19.4% from HKD 270,560,000 in 2020[142]. - Profit before tax for 2021 was HKD 46,416,000, up 83.8% from HKD 25,249,000 in 2020[142]. - Net profit attributable to equity holders for 2021 was HKD 38,282,000, representing a significant recovery from a loss of HKD 11,611,000 in 2019[142]. - Total assets increased to HKD 759,615,000 in 2021, compared to HKD 753,206,000 in 2020, reflecting a growth of 0.5%[142]. - Total liabilities decreased to HKD 411,026,000 in 2021 from HKD 443,992,000 in 2020, a reduction of 7.5%[142]. - The company's total equity increased to HKD 348,589,000 in 2021, up from HKD 309,214,000 in 2020, marking a growth of 12.7%[142]. Business Segments and Innovations - The SMT and semiconductor equipment manufacturing segment generated total revenue of approximately HKD 308,837,000, an increase of HKD 75,053,000, or 32% year-on-year[15]. - The gross margin for the SMT and semiconductor equipment manufacturing segment was approximately 41%, remaining stable compared to the previous year[15]. - The company has developed a high-precision die bonding machine, achieving positioning accuracy at the micron level, comparable to international advanced technology[16]. - The group successfully developed a "dual electromagnetic pump selective wave soldering" technology, which is energy-efficient and has high precision, marking a leading position in the industry[17]. - The group launched three new products during the year, including semiconductor chip bonding equipment, semiconductor packaging reflow soldering ovens, and modular intelligent multi-channel curing ovens, and obtained 13 patents[47]. - The company is actively enhancing its R&D efforts in the packaging field, particularly in IC bonding and FC flip chip equipment[15]. - The company aims to optimize IC bonding equipment from specialized to general-purpose types gradually[16]. Market Trends and Opportunities - The demand for automotive semiconductors is expected to increase, as electric vehicles use 2.9 times more semiconductor chips than traditional internal combustion engine vehicles[21]. - The Mini LED display market is expected to grow rapidly, enhancing the demand for high-precision soldering equipment[28]. - The global smartphone shipment reached 1.35 billion units, with a year-on-year growth rate of 7%[23]. - The semiconductor sales in 2021 reached $555.9 billion, a year-on-year increase of 26.2%, with China's market sales at $192.5 billion, growing by 27.1%[31]. - By 2030, non-fossil energy is projected to account for 25% of primary energy consumption in China, with wind and solar power capacity expected to reach 2.24 times that of 2020[33]. - The group anticipates a golden period of expansion in the energy storage industry, driven by national policies and the growing demand for renewable energy[19]. - The global energy storage annual demand is expected to reach 1.25 TWh by 2030, with a compound annual growth rate of about 30% from 2020 to 2030, indicating a new trillion RMB-level emerging market[34]. Strategic Initiatives - The company has established a joint venture in the renewable energy sector, focusing on the development and operation of energy storage stations[11]. - The group has established a joint venture in Zhuhai, focusing on energy storage projects, anticipating significant growth in the energy storage industry due to national policies and market mechanisms[19]. - The group plans to further develop other new energy storage projects and smart energy projects, leveraging policy benefits and operational advantages of joint ventures[37]. - The group aims to increase production efficiency and market share in the SMT and semiconductor equipment manufacturing sectors through continuous technological innovation[17]. - The management is exploring potential mergers and acquisitions to strengthen its competitive position in the market[144]. - The company plans to continue expanding its market presence and invest in new technologies to drive future growth[144]. Governance and Compliance - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2021[86]. - The company has established a board diversity policy since 2018, focusing on various aspects such as gender, age, and professional experience to enhance performance quality[105]. - All independent non-executive directors have confirmed their independence in accordance with the Main Board Listing Rules[104]. - The company provides ongoing training for directors to ensure compliance with legal and regulatory requirements, with satisfactory training records reported as of December 31, 2021[99]. - The company has established a three-tier risk management approach to identify, assess, and mitigate risks across its operations[123]. - The internal control system is based on COSO principles, ensuring compliance with laws and regulations, asset security, and the integrity of financial reporting[124]. - The board confirmed that the group has sufficient resources for ongoing operations, thus adopting the going concern basis for financial statements preparation[120]. - The company has complied with all relevant laws and regulations without any significant violations during the year[196]. Human Resources and Operations - The group employed approximately 313 full-time employees in mainland China and 21 staff in Hong Kong as of December 31, 2021[87]. - The company has established a liquidity risk management framework to meet short-term, medium-term, and long-term financing needs[80]. - The company has established a dedicated team to handle insider information and ensure compliance with relevant laws and regulations[127]. - The company encourages directors, especially non-executive and independent non-executive directors, to participate in various professional training activities to improve governance standards[99]. - The company secretary received over 15 hours of professional training to update skills and knowledge during the year[118]. Shareholder Information - As of December 31, 2021, the major shareholder, Xindin Limited, holds 987,176,230 shares, representing approximately 67.85% of the total equity[183]. - Chen Ping holds 100,000,000 shares, accounting for 6.87% of the total equity[183]. - Bi Tianfu owns 87,783,168 shares, which is 6.03% of the total equity[183]. - Da Guang International Limited holds 84,270,000 shares, representing 5.79% of the total equity[183]. - The company did not enter into any significant contracts with its controlling shareholders or their subsidiaries as of December 31, 2021[179]. - The company did not buy, redeem, or sell any of its listed securities during the year[187].
芯成科技(00365) - 2021 - 年度财报