BOMIN ELECTRONICS(SH:603936)2023-04-21 16:00Financial Performance - The company's operating revenue for 2022 was approximately CNY 2.91 billion, a decrease of 17.28% compared to CNY 3.52 billion in 2021[23]. - The net profit attributable to shareholders for 2022 was CNY 78.58 million, down 67.51% from CNY 241.87 million in 2021[23]. - The basic earnings per share for 2022 was CNY 0.15, a decline of 68.75% from CNY 0.48 in 2021[22]. - The weighted average return on equity decreased to 2.15% in 2022, down 4.68 percentage points from 6.83% in 2021[22]. - The net cash flow from operating activities for 2022 was CNY 203.46 million, a decrease of 25.46% compared to CNY 272.95 million in 2021[23]. - The total profit for the year was CNY 9,234.32 million, down 66.50% compared to the previous year[59]. - The company achieved operating revenue of CNY 291,238.77 million in 2022, a decrease of 17.28% year-on-year[58]. - Total revenue for the reporting period was CNY 2,412,997,971.12, a decrease of 14.66% compared to CNY 2,827,645,411.25 in the previous year[85]. Risk Management - The company emphasizes the importance of risk awareness regarding potential uncertainties in future plans and development strategies[5]. - The report indicates that the company has detailed various risks faced during production and operations, which investors should pay attention to[6]. - The company faces risks from macroeconomic fluctuations and industry volatility, which could impact revenue and net profit if the PCB industry slows down due to economic downturns[120]. - Raw material prices have been under pressure, with significant costs associated with copper, gold, and other commodities, affecting the company's overall gross margin and profitability[121]. - The company experienced goodwill impairment, which significantly impacted net profit and earnings per share[23]. Corporate Governance - The company assures that there are no non-operating fund occupations by controlling shareholders or related parties, and no violations in decision-making procedures for external guarantees[6]. - The company has not faced any issues with the authenticity, accuracy, and completeness of the annual report, as confirmed by the board of directors[7]. - The company has implemented a comprehensive internal control system, revising multiple governance documents to enhance operational compliance and governance structure[139]. - The company has maintained a transparent and fair approach to information disclosure, utilizing multiple media outlets for announcements[137]. - The company has established a dedicated department for investor relations management, facilitating various forms of communication with stakeholders[135]. Research and Development - The company has applied for 31 patents during the reporting period, with R&D expenses amounting to 130.9 million CNY, accounting for 4.49% of revenue[72]. - The company has developed a new generation PCB sample for the EGS platform, which shows significant improvements in high-speed material application and design layers compared to previous platforms[71]. - The company is focusing on innovation in the fields of packaging substrates and automotive electronics, aligning with national policies promoting new energy[62]. - The company has established six provincial-level R&D platforms and has been recognized as a national high-tech enterprise, demonstrating its commitment to innovation and technology development[70]. Market Trends - The global PCB market value reached $81.74 billion in 2022, with a year-on-year growth of 1%, and is projected to grow to $98.39 billion by 2027, reflecting a compound annual growth rate (CAGR) of approximately 3.8% from 2022 to 2027[32]. - China's PCB market value was approximately $43.55 billion in 2022, down 1.4% year-on-year, but is expected to reach about $51.13 billion by 2027, with a CAGR of 3.3% during the same period[33]. - The demand for IGBT in the new energy vehicle sector is anticipated to reach ¥38.7 billion by 2025, with a remarkable CAGR of 69%[41]. - The global automotive electronics PCB market is projected to grow at a CAGR of 8% from 2022 to 2026[112]. - The IC substrate market is expected to grow at a CAGR of 8.6% from 2021 to 2026, making it the fastest-growing segment[114]. Environmental Compliance - The company has invested approximately 69.59 million yuan in environmental protection during the reporting period[183]. - The company is listed as a key pollutant discharge unit by the Meizhou Ecological Environment Bureau, with wastewater and hazardous waste management in compliance with regulations[185]. - The company has established a hazardous waste management system, ensuring proper handling and storage in compliance with regulations[200]. - All monitored emissions in 2022 met national legal and regulatory standards, indicating compliance with discharge requirements[196]. - The company’s wastewater discharge is regulated, with a total annual discharge limit of 16.5 tons, and no instances of exceeding discharge limits reported[187]. Shareholder Engagement - The company achieved a 100% response rate to 56 investor inquiries through the "E Interaction" platform, enhancing communication and transparency with investors[135]. - The company has ensured that minority shareholders have had the opportunity to express their opinions and protect their legal rights[173]. - The company has conducted investor research sessions to keep stakeholders informed about its development and value[135]. - The company plans to distribute cash dividends of no less than 10% of the distributable profits each year, provided it is profitable and has no major capital expenditure plans[169]. Strategic Initiatives - The company plans to invest approximately 5 billion RMB in a new project for IGBT ceramic substrates and IC packaging boards, approved by the board on December 30, 2022[105]. - The company is actively pursuing digital transformation and automation to improve production efficiency and product quality[60]. - The company has implemented a cost reduction strategy, achieving a 10% decrease in overall costs during the reporting period[60]. - The company aims to enhance its core competitiveness by optimizing product structure to meet the evolving demands in 5G communication, servers, and consumer electronics[66]. - The company is expanding its product offerings to include IC substrates, leveraging its HDI production technology[43].