ASMPT(HK:00522)2022-03-31 09:38Financial Performance - For the fiscal year 2021, ASM Pacific Technology reported a record profit of HKD 3.18 billion, representing a year-on-year increase of 398.8%[9]. - Revenue from continuing operations for 2021 was HKD 21.95 billion, compared to HKD 14.70 billion in 2020[10]. - The group's revenue reached HKD 21.95 billion (USD 2.82 billion) in 2021, a 49.3% increase from the previous year, while net profit soared to HKD 3.18 billion, up 398.8% from HKD 637 million[24]. - The basic earnings per share for continuing and discontinued operations was HKD 7.72, up from HKD 3.97 in the previous year[10]. - The group reported a net profit of HKD 976.4 million for Q4 2021, a 182.5% increase year-over-year, with a profit margin of 15.7%[36]. - The group’s net profit reached a record high of HKD 3.24 billion, a year-on-year increase of 273.6%[39]. - The total comprehensive income for the year amounted to HKD 3,004,126, compared to HKD 2,000,611 in 2020, indicating a 50.1% increase[156]. Cash and Deposits - The total cash and bank deposits at the end of 2021 reached a record high of HKD 4.88 billion[9]. - Cash and bank deposits reached a record high of HKD 4.88 billion, compared to HKD 4.46 billion in the previous year[39]. - The total cash and cash equivalents at the end of 2021 amounted to HKD 4,681,090,000, up from HKD 4,450,564,000 at the end of 2020, reflecting an increase of 5.2%[165]. Profit Margins - The gross profit margin for 2021 was 40.6%, an increase of 563 basis points year-on-year[9]. - The operating profit margin for 2021 was 18.9%, up by 1,143 basis points compared to the previous year[9]. - The gross profit margin for 2021 was 41.3%, reflecting an increase of 588 basis points year-over-year, while the operating profit margin improved to 20.0%[36]. - The semiconductor solutions segment's gross profit margin was 43.7%, an increase of 468 basis points year-on-year[42]. Orders and Backlogs - The total value of unfulfilled orders as of December 31, 2021, was HKD 10.06 billion (USD 1.29 billion)[9]. - New orders totaled HKD 26.12 billion (USD 3.36 billion), representing a year-on-year increase of 65.6%[38]. - For Q4 2021, the total new orders amounted to HKD 5,250 million, a 25% year-over-year increase[36]. Dividends - The company declared a total dividend of HKD 3.90 per share for the fiscal year 2021, an increase of approximately 44.4% year-on-year[9]. - The board proposed a final dividend of HKD 2.60 per share, resulting in a total dividend of HKD 3.90 per share for the year, a significant increase of 44.4% compared to HKD 2.70 in 2020[25]. Research and Development - ASMPT continues to invest in research and development to enhance production efficiency and product quality[4]. - R&D spending accounted for approximately 10% of total revenue, with HKD 1,950 million in 2021 compared to HKD 1,620 million in 2020[54]. - The company is investing in advanced process innovations to enhance its technology position in various applications, including micro-LED and augmented reality[49]. Market and Growth Strategy - The company aims to focus on strategic growth and cost optimization measures for the coming years[11]. - The automotive solutions market saw revenue more than double in 2021, indicating significant growth potential and an expanded customer base[16]. - The company is focusing on entering high-growth markets and optimizing its product portfolio towards advanced solutions[18]. - The ongoing global digital transformation is expected to drive long-term growth trends, benefiting the company's future performance[27]. Supply Chain and Production - The group anticipates continued challenges in the supply chain for 2022 but remains confident due to strong order backlogs and macroeconomic factors[23]. - The group achieved a record capacity utilization while significantly increasing the proportion of outsourced production to address supply chain challenges[28]. Corporate Governance - The company has a strong board with diverse backgrounds in finance, engineering, and high-tech industries, enhancing its strategic decision-making capabilities[76][78]. - The leadership team is committed to maintaining high standards of corporate governance and financial oversight[76][78]. - The company has established a whistleblowing procedure for employees to report concerns regarding misconduct confidentially[126]. Compliance and Risk Management - The group has established a risk management framework based on the "three lines of defense" model to manage strategic, operational, financial, reporting, and compliance risks[131]. - The board is responsible for assessing and determining the nature and extent of risks the group is willing to accept to achieve strategic objectives, ensuring an effective risk management system is in place[130]. Employee and Talent Management - The company has a strong focus on retaining talent through its employee stock incentive plan, which aims to recognize contributions and attract suitable personnel[81]. - The total employee cost for the group in 2021 was HKD 5.55 billion, up from HKD 4.41 billion in 2020[60]. Financial Reporting and Standards - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the year ended December 31, 2021[168]. - The financial statements are prepared on a historical cost basis, except for certain financial instruments measured at fair value at each reporting date[175].