Sino-Microelectronics(SH:600360)2023-06-29 16:00Financial Performance - The net profit attributable to shareholders decreased due to a decline in sales performance influenced by market conditions, with a significant drop compared to the previous year [22]. - Basic earnings per share for 2022 was CNY 0.06, a 50% decrease from CNY 0.12 in 2021 [22]. - The weighted average return on equity was 1.79%, down 1.86 percentage points from 3.65% in 2021 [22]. - The company's operating revenue for 2022 was CNY 1,953,144,398.94, a decrease of 11.62% compared to CNY 2,210,055,245.68 in 2021 [23]. - The net profit attributable to shareholders decreased by 50.09% to CNY 57,748,815.77 from CNY 115,707,257.28 in the previous year [23]. - The company's diluted earnings per share for 2022 was also CNY 0.06, reflecting the same 50% decrease from the previous year [22]. - The total revenue from the industrial segment was CNY 1,885,490,064.87, down 12.66% year-on-year [50]. - The company reported a significant increase in other income, which rose by 175.15% to CNY 11,229,503.14, mainly from government subsidies [47]. Cash Flow and Dividends - The net cash flow from operating activities increased by 51.47% to CNY 491,660,397.56, up from CNY 324,597,384.74 in 2021 [23]. - The company plans to distribute a cash dividend of CNY 0.185 per 10 shares, totaling CNY 17,765,463.12, which accounts for 30.76% of the net profit attributable to shareholders [6]. - The cash flow from financing activities decreased by 171.52% to -CNY 279,064,811.76, attributed to lower cash received from financing activities compared to the previous year [48]. - The company’s total cash dividend amount for the reporting period was approximately 17.77 million RMB, representing 30.76% of the net profit attributable to ordinary shareholders [114]. Research and Development - Research and development expenses for new products exceeded those of the previous year, contributing to the decrease in net profit [22]. - R&D expenses rose by 14.58% to CNY 105,257,620.26, reflecting the company's commitment to new product development [47]. - The company has introduced a product lifecycle management (PLM) system to enhance technical research and development management [29]. - The company has implemented a technical innovation reward system specifically for R&D personnel to encourage innovation [106]. Production and Operations - The company is currently in the production ramp-up phase for new electronic power device projects, which have not yet met expected targets, leading to higher unit costs and reduced profit margins [22]. - The production volume of semiconductor discrete devices decreased by 30.91%, while sales volume dropped by 34.08% compared to the previous year [53]. - The company completed the construction of the new generation IGBT process platform, achieving current density at an internationally advanced level, applicable in white goods, energy storage, and new energy vehicle sectors [29]. - The company has strengthened its procurement system, ensuring product quality stability through strict supplier qualification and periodic inspections [31]. Market and Strategic Initiatives - The power semiconductor market in China reached a scale of 217.6 billion yuan in 2021, with a year-on-year growth of 20.1% [36]. - The company has established strategic cooperation with several leading enterprises in emerging fields, significantly increasing sales volume and revenue in key areas [29]. - The company has established strategic partnerships in the renewable energy sector, significantly increasing sales of IGBT and FRD products [43]. - The company aims to focus on the research and large-scale production of power semiconductor products, particularly IGBT, MOSFET, and wide bandgap semiconductors, to enhance its competitive advantage in the market [75]. Governance and Compliance - The company has established a comprehensive governance structure to ensure transparency and protect shareholder interests [84]. - The company completed 4 periodic reports and 45 temporary announcements during the reporting period, reflecting comprehensive governance and operational management [87]. - The company has implemented a strict insider information management system, with no incidents of insider trading reported during the review period [87]. - The company received regulatory warnings from the China Securities Regulatory Commission and the Shanghai Stock Exchange for failing to disclose liabilities and restricted cash in a timely manner [94]. Environmental Responsibility - The company invested 2.89 million RMB in environmental protection during the reporting period [120]. - The company achieved a reduction of 870,437 tons in carbon emissions through the implementation of carbon reduction technologies in production processes [130]. - The company maintains compliance with environmental regulations, with all pollutants discharged meeting the required standards [123]. - The company emphasizes green development, achieving industry-leading energy consumption levels and being recognized as a national and provincial-level green factory [131]. Workforce and Management - The company has a workforce of over 2,300 employees, with 30% being professional technical R&D personnel [45]. - The company has a total of 5 independent directors and supervisors, with a combined remuneration of 10.74 CNY each [89]. - The company has established a performance management system for senior management, linking monthly salaries to annual economic indicators, ensuring a balance of incentives and constraints [104]. - The company conducted various training programs aimed at enhancing employee skills, including project management and cost control, to improve overall competitiveness [105].