Dosilicon(SH:688110)2022-04-22 16:00Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in the last quarter[22]. - The company's operating revenue for 2021 was CNY 1,134,281,270.31, representing a 44.62% increase compared to CNY 784,307,913.62 in 2020[36]. - The net profit attributable to shareholders for 2021 was CNY 261,796,151.50, a significant increase of 1,240.27% from CNY 19,533,095.76 in the previous year[36]. - The net cash flow from operating activities for 2021 was CNY 117,522,087.87, a decrease of 48.54% compared to CNY 228,390,811.55 in 2020[36]. - The total assets at the end of 2021 were CNY 4,178,428,032.66, an increase of 450.68% from CNY 758,774,884.27 in 2020[36]. - The company's net assets attributable to shareholders at the end of 2021 were CNY 3,820,252,676.53, reflecting a 661.91% increase from CNY 501,404,956.99 in 2020[36]. - Basic earnings per share for 2021 were CNY 0.77, up 1,183.33% from CNY 0.06 in 2020[36]. - The company achieved operating revenue of CNY 1,134.28 million, a year-on-year increase of 44.62% due to product line expansion and rising product prices[38]. - The net profit attributable to shareholders reached CNY 261.80 million, a significant year-on-year increase of 1240.27%, with a net profit excluding non-recurring items of CNY 255.27 million, up 1354.24%[38]. - The company’s cash flow from operating activities decreased by 48.54% to 117.52 million RMB[104]. Research and Development - Research and development expenses increased by 18%, reflecting the company's commitment to innovation and technology advancement[22]. - The R&D expenditure as a percentage of operating revenue was 6.60% in 2021, an increase of 0.54 percentage points from the previous year[36]. - The company invested 74.81 million yuan in R&D, accounting for 6.60% of total revenue, with R&D spending increasing by 57.37% year-over-year[47]. - The company has increased its R&D personnel to 87, accounting for 47.28% of the total workforce, with an average salary of ¥536,596.10[79]. - The company has achieved a 57.37% increase in R&D expenses compared to the previous year, reflecting a significant commitment to innovation[72]. - The company is focusing on developing low-power, cost-effective SLC NAND Flash chips for various applications, including communication devices and wearable technology[75]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of the fiscal year[22]. - The company plans to enter the European market by Q2 2024, with an initial investment of $200 million[177]. - The company is actively expanding its market presence and exploring new strategies for growth, including potential mergers and acquisitions[166]. - The company is focusing on high-value automotive-grade storage chips, which require higher standards in technology, environmental use, vibration resistance, and reliability compared to traditional consumer electronics[150]. - The company is collaborating with SMIC to develop 1x nm NAND Flash chips, aiming to enhance product competitiveness and open up space for higher capacity and cost-effective products[150]. Corporate Governance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring effective operation and compliance with regulations[156]. - The company has maintained a stable shareholder meeting process, with all proposals passed without any rejections during the annual shareholder meeting[159]. - The company has no outsourced labor arrangements, indicating a focus on in-house talent management[200]. Risk Management - The company has outlined potential risks in its management discussion and analysis section[5]. - The company faces risks related to rapid technological upgrades and product iterations in the semiconductor industry, which could impact its market competitiveness[89]. - The company is exposed to risks from international trade tensions, which could impact the integrated circuit industry[101]. Intellectual Property - The company holds 78 domestic and international invention patents related to mainstream storage chips, showcasing its commitment to intellectual property and technological innovation[85]. - The company applied for 2 patents during the reporting period, all of which are invention patents, and received 3 patent authorizations, all of which are invention patents[71]. Employee and Talent Management - The company has a training program aimed at enhancing the professional skills and sense of belonging of employees, particularly in core technology areas[197]. - The workforce includes 35 employees with a master's degree or higher, 123 with a bachelor's degree, and 26 with an associate degree or lower[195]. - The company is actively recruiting technical personnel and improving internal training mechanisms to build a talent pool that meets rapid development needs[154]. Sustainability Initiatives - The management emphasized a commitment to sustainability, aiming for a 30% reduction in carbon footprint by 2025[178]. - The management team emphasized the importance of sustainability initiatives, aiming to reduce carbon emissions by J% over the next five years[173]. Financial Policies - The company has established a cash dividend policy, aiming for a minimum of 30% of the average distributable profit over the last three years to be distributed as cash dividends[200]. - For the fiscal year 2021, the company plans to distribute cash dividends of 1.80 RMB per 10 shares, totaling approximately 79.6 million RMB, which represents 30.41% of the net profit attributable to shareholders[200].