NCE(SH:605111)2022-03-21 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 25%[19]. - The company achieved operating revenue of CNY 1,498,271,279.34 in 2021, a year-on-year increase of 56.89%[28]. - Net profit attributable to shareholders reached CNY 410,461,760.71, reflecting a significant growth of 194.55% compared to the previous year[28]. - The net cash flow from operating activities was CNY 450,884,685.73, an increase of 458.99% year-on-year[28]. - Basic earnings per share rose to CNY 2.90, up 139.67% from CNY 1.21 in 2020[31]. - The company achieved a total revenue of RMB 1,498,271,279.34, representing a year-on-year growth of 56.89%[87]. - The net profit attributable to shareholders reached RMB 41,046.18 million, a significant increase of 194.55% compared to the previous year[87]. Dividend and Capital Plans - The company plans to distribute a cash dividend of 5.75 CNY per 10 shares, totaling approximately 82.12 million CNY (including tax) to shareholders[8]. - The company intends to increase its capital reserve by issuing 4 additional shares for every 10 shares held, expecting to issue approximately 57.13 million new shares[8]. Audit and Compliance - The company has received a standard unqualified audit report from Tianheng Accounting Firm[7]. - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[6]. - There are no non-operational fund occupations by controlling shareholders or related parties[9]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company has confirmed that more than half of the directors can guarantee the authenticity of the annual report[9]. Risk Management - The company has outlined potential risks in its future development plans, which investors should be aware of[9]. - The company has detailed risk factors in the section discussing future development in the report[9]. - The semiconductor power device market is expected to face risks from market fluctuations and procurement price volatility, which could impact the company's performance[167][168]. - The company plans to mitigate risks by diversifying its customer base and enhancing product performance to capitalize on domestic semiconductor substitution opportunities[167]. Research and Development - The company is investing 100 million RMB in R&D for advanced semiconductor technologies, focusing on SiC and GaN materials[19]. - The company invested CNY 7,968,920 in R&D, representing 5.32% of operating revenue, with a 54.05% increase from the previous year[41]. - The company has added 9 new patents in 2021, including 8 utility model patents and 1 design patent, and filed 29 new patent applications[41]. - The company holds 135 patents, including 36 invention patents, establishing a strong technological barrier in the semiconductor power device industry[75]. - The company is advancing the R&D and industrialization of high-end MOSFETs and IGBTs, with new product developments in SiC/GaN wide bandgap semiconductor power devices[117]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year[19]. - A strategic acquisition of a smaller semiconductor firm was completed, expected to contribute an additional 200 million RMB in revenue annually[19]. - The company plans to focus on developing emerging domestic markets and continuing domestic substitution strategies[101]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 15% market share increase in the region by the end of the next fiscal year[191]. Production and Capacity - The company plans to increase its production capacity by 40% to meet rising demand in the power electronics sector[19]. - The company has successfully implemented import substitution for mid-to-high-end MOSFET and IGBT products, reducing reliance on foreign brands[82]. - The company achieved a significant increase in production volume, with the sales volume of power devices increasing by 21.79% year-on-year, and production volume rising by 35.42%[102]. Financial Health and Management - The management team emphasized the importance of maintaining strong financial health, with a focus on cash flow management and cost control measures[191]. - The company’s cash flow from operating activities improved significantly due to enhanced receivables management, leading to increased cash receipts from sales[94]. - The company’s cash and cash equivalents at the end of the period amounted to CNY 889,360,252.33, representing 47.17% of total assets, up 30.64% from the previous period[120]. Corporate Governance - The company held 7 shareholder meetings during the reporting period, including 1 annual and 6 extraordinary meetings, all in compliance with relevant regulations[174]. - The board of directors consists of 9 members, including 3 independent directors, and held 10 meetings during the reporting period, adhering to legal requirements[175]. - The company maintains complete independence in assets, personnel, finance, and operations, ensuring no overlap with the controlling shareholder[180].