QuantumCTek(SH:688027)2022-04-25 16:00Financial Performance - The company reported no cash dividends for the fiscal year 2021, with no capital reserve conversion to share capital or bonus shares proposed[8]. - The company has not achieved profitability since its listing, indicating ongoing investment in growth and development[5]. - The company's operating revenue for 2021 was ¥179,153,578.49, representing a year-on-year increase of 33.55% compared to ¥134,147,621.51 in 2020[28]. - The net profit attributable to shareholders for 2021 was -¥37,136,215.33, a decrease of 225.93% from a profit of ¥29,488,555.46 in 2020[28]. - The net cash flow from operating activities for 2021 was -¥64,107,297.05, a significant decline of 337.03% compared to ¥27,046,444.74 in 2020[28]. - The company's total assets at the end of 2021 were ¥1,976,262,053.48, an increase of 2.66% from ¥1,924,965,260.18 at the end of 2020[28]. - The basic earnings per share for 2021 was -¥0.46, a decrease of 206.98% from ¥0.43 in 2020[31]. - The weighted average return on net assets for 2021 was -2.25%, down from 2.32% in 2020[31]. - The decline in net profit was attributed to changes in product sales structure, increased share-based payment expenses, and lower government subsidies[31]. - The company achieved total revenue of 31,539.60 million RMB, with a net profit of 14,994.69 million RMB, indicating strong financial performance[128]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 50.81% in 2021, up by 5.42 percentage points from 45.39% in 2020[31]. - Research and development expenses for the year amounted to 91.02 million RMB, a year-on-year increase of 49.47%, representing 50.81% of operating revenue[42]. - The company achieved a total R&D investment of approximately ¥91.02 million in 2021, representing a significant increase of 49.47% compared to the previous year[117]. - The proportion of R&D investment to operating income rose to 50.81% in 2021, up from 45.39% in the previous year, indicating a strong commitment to innovation[117]. - The company holds 292 authorized patents domestically and internationally, making it the largest patent holder in the global quantum communication field according to the Quantum Security Technology White Paper (2021)[98]. - The company obtained 37 invention patents, 15 utility model patents, and 10 design patents during the reporting period, contributing to a total of 573 intellectual property rights held[111]. - The company has established partnerships with research institutes and enterprises to enhance its core technology capabilities and ensure effective supply of critical components[135]. Market and Industry Trends - The quantum secure communication market is projected to grow from approximately ¥122.79 billion in 2020 to about ¥1.227 trillion by 2035, indicating significant market potential[89]. - The NISQ quantum computing market demand is expected to reach between £20 billion and £35 billion by 2027, equivalent to approximately ¥180 billion to ¥315 billion[90]. - The global quantum computing market impact is predicted to exceed £35 billion by 2050, highlighting its long-term economic significance[90]. - The quantum secure communication technology has achieved a high level of maturity, with successful integration into sectors such as big data services, government information protection, and financial encryption[82]. - The integration of quantum secure communication with ICT and information security industries has been recognized as a natural advantage, enhancing its application prospects[89]. - The quantum information industry is rapidly developing, with significant investments from both domestic and international players, indicating a growing market[77]. Corporate Governance and Risk Management - The board of directors was fully present during the board meeting, ensuring governance and decision-making integrity[6]. - There are no special arrangements in corporate governance that would affect the company's operations[12]. - The company faces various operational risks, which are detailed in the report's risk factors section[5]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[10]. - The company faces risks related to market demand fluctuations for quantum communication products due to uncertainties in project timelines and the impact of the pandemic[138]. - The company faces risks related to the loss of core technical personnel, which could impact its innovation capabilities[140]. - The company is currently dependent on government policies for the development of quantum communication networks, which may affect future operations[144]. - The company has implemented measures to mitigate risks from being placed on the U.S. Entity List, including domestic production of core components[145]. Strategic Initiatives and Future Plans - The company has a comprehensive plan for future development and strategic initiatives, although specific commitments are not guaranteed[9]. - The company plans to continue expanding its market presence in quantum computing instruments, which contributed to the revenue growth[31]. - Future plans include enhancing adaptability to various application scenarios and developing key technologies for free-space quantum secure communication and new quantum secure communication protocols[102]. - The company aims to establish a complete standard system for quantum secure communication networking, operation, application, and certification, promoting technology towards application and market[102]. - The company aims to lead the quantum technology industry by promoting the large-scale industrialization of quantum information technology and developing quantum computing and measurement technologies[187]. - The company plans to maintain its leading position in quantum secure communication technology while expanding applications in the quantum security industry[187]. - The company will enhance its role as an innovation leader, focusing on key core technologies in quantum secure communication, and will promote the construction of quantum secure communication backbone networks and metropolitan area networks[188]. - The company is committed to improving ESG management and information disclosure to achieve high-quality development and enhance shareholder value[195]. Product Development and Innovations - The company is focused on quantum technology advancements, including quantum computing and secure communication solutions[20]. - The company successfully developed the "1U" compact polarization encoding QKD product, which is the first of its kind globally, and has received a testing report from the National Cryptography Administration[49]. - The company launched the "Quantum Security Service Platform," capable of managing keys for millions of users, applicable in various scenarios including communication and industrial internet[50]. - The company completed the development of a 24-qubit room-temperature superconducting quantum computing control system, which was listed as a major technological equipment in Anhui Province[51]. - The company has developed a quantum encryption smart wristband, with a total investment of $420 million, and $56.91 million invested in the current period, targeting sectors such as judicial and healthcare[120]. - The company has upgraded its superconducting quantum computing room temperature control system and is extending its product line to include components related to the quantum computing industry chain[100]. - The company is actively involved in the development of quantum secure communication networks to counteract computational attacks, with significant recognition for its solutions[101].