Dosilicon(SH:688110)2023-06-21 16:00Financial Performance - The company reported a net profit of 213,218,108.77 RMB for the current period, reflecting a significant increase compared to the previous year[29]. - The company's total revenue for 2021 was ¥1,134,281,270.31, representing a 44.62% increase compared to ¥784,307,913.62 in 2020[50]. - The net profit attributable to shareholders for 2021 was ¥261,796,151.50, a significant increase of 1,240.27% from ¥19,533,095.76 in the previous year[50]. - The net profit after deducting non-recurring gains and losses was ¥255,266,140.57, reflecting a 1,354.24% increase compared to ¥17,553,189.22 in 2020[50]. - The total comprehensive income for the current period was 213,218,108.77 RMB, indicating strong financial performance[29]. - The company's gross profit margin improved significantly due to increased sales scale and optimization of product structure, leading to a higher proportion of high-margin products[61]. - The company's total assets at the end of 2021 were ¥4,178,428,032.66, an increase of 450.68% from the previous year[50]. - The net assets attributable to shareholders increased to ¥3,820,252,676.53, a growth of 661.91% compared to the previous year[50]. - The basic earnings per share for 2021 was ¥0.77, up 1,183.33% from ¥0.06 in 2020[50]. - The total owner's equity at the beginning of the year was 559,731,360.82 RMB, with a capital increase of 110,562,440.00 RMB during the year[29]. Cash Flow - The net cash flow from operating activities for 2021 was ¥41,982,691.75, a decrease of 53.8% compared to ¥90,739,979.89 in 2020[7]. - The total cash inflow from financing activities reached ¥3,095,816,356.26, significantly up from ¥78,592,938.93 in the previous year[7]. - The company reported a net increase in cash and cash equivalents of ¥3,060,657,524.92, compared to an increase of ¥149,110,615.42 in 2020[7]. - The total cash outflow from operating activities was ¥555,823,583.76, up from ¥501,177,446.36 in the previous year[7]. - The cash flow from investment activities showed a net outflow of ¥45,777,246.79, worsening from a net outflow of ¥18,572,160.43 in 2020[7]. - The ending balance of cash and cash equivalents was ¥3,242,344,806.12, compared to ¥181,687,281.20 at the beginning of the year[7]. Research and Development - The R&D expenditure accounted for 6.60% of total revenue, an increase of 0.54 percentage points from the previous year[50]. - Research and development expenses amounted to 74.81 million yuan, accounting for 6.60% of operating revenue, with a year-on-year increase of 57.37%[61]. - The company plans to continue increasing R&D investment to accelerate new product development and enhance its R&D platform[61]. - The company is currently developing several NAND and NOR Flash series products, with total investment projected at ¥6 billion for the 24nm NAND Flash series, of which ¥1.07 million has been invested this period[120]. - The company aims to achieve lower power consumption and faster read/write speeds in its NAND Flash chips, targeting applications in communication devices, security monitoring, wearable devices, and mobile terminals[120]. - The company has a strong focus on NAND, NOR, and DRAM storage chip design, with a commitment to achieving technological breakthroughs in domestic storage chips[61]. Market and Product Development - The company has expanded its product offerings and customer base, particularly in the telecommunications and industrial sectors, responding to strong market demand[61]. - The company achieved operating revenue of 1.134 billion yuan, a year-on-year increase of 44.62%[61]. - The company completed the first tape-out of SLC NAND Flash based on the SMIC 19nm process platform in the second half of 2021[71]. - The company achieved the design tape-out of new products up to 32Gb based on the SMIC 24nm process platform, covering the design and development of products from 1Gb to 32Gb[71]. - The company has increased the proportion of high-value-added products, leading to a steady rise in market share among well-known domestic terminal clients[71]. Risk Management and Compliance - The company has established a robust internal control system and governance structure to enhance risk management and protect shareholder rights[71]. - The company faces risks related to rapid technological upgrades and the need for continuous innovation to keep pace with market demands[113]. - The company has actively increased its patent applications to build a protective barrier for its intellectual property[71]. - The financial statements comply with the requirements of the accounting standards and reflect the company's financial position, operating results, and cash flows accurately[94]. - The company has established a financial management strategy that includes risk management and investment strategies based on fair value assessments[100]. Supply Chain and Operations - The company has established a stable and reliable supply chain system, forming strategic partnerships with major foundries like SMIC and leveraging their advanced process nodes[72][76]. - The company operates under a Fabless model, outsourcing manufacturing, packaging, and testing to specialized firms[148]. - The company relies heavily on a few suppliers, with the top five suppliers accounting for 86.35% of total purchases[149]. - The company has improved its product delivery capabilities through long-term strategic cooperation with upstream suppliers and clients in various application fields[71]. - The company actively collaborated with the supply chain to expand NAND production capacity in response to strong downstream demand[198]. Inventory and Sales - The company's accounts receivable at the end of the reporting period amounted to RMB 254.88 million, accounting for 22.47% of the operating revenue[151]. - The company's inventory at the end of the reporting period was valued at RMB 349.04 million, with a provision for inventory impairment of RMB 52.76 million[151]. - The inventory for NAND products increased by 50.72% year-over-year, while DRAM inventory decreased by 22.58%[195]. - The direct sales model generated ¥80,203.54 million in revenue, with a gross margin of 45.10%, reflecting a year-over-year revenue increase of 79.29%[194]. - The distribution sales model accounted for ¥33,140.69 million in revenue, with a gross margin of 34.80%, showing a year-over-year revenue decrease of 1.16%[194].