Leadyo(SH:688135)2022-04-28 16:00Financial Performance - The company achieved operating revenue of approximately CNY 391.20 million in 2021, an increase of 54.73% compared to the previous year[21]. - Net profit attributable to shareholders reached approximately CNY 105.84 million, reflecting a growth of 103.75% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was approximately CNY 91.66 million, up 100.43% from the previous year[21]. - Total assets as of December 31, 2021, amounted to CNY 1,260.04 million, a year-on-year increase of 15.38%[23]. - The company's net assets attributable to shareholders were CNY 1,050.69 million, representing a growth of 7.61% compared to the end of 2020[23]. - The company achieved operating revenue of RMB 391.1981 million, a year-on-year increase of 54.73%[34]. - Net profit attributable to shareholders reached RMB 105.8419 million, reflecting a year-on-year growth of 103.75%[34]. - Operating costs increased to 184,707,106.36 RMB, up 35.55% year-on-year, primarily due to the rise in operating revenue[111]. - The company reported a net cash flow from operating activities of 191,780,317.87 RMB, an increase of 82.01% from the previous year[112]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 3.67 per 10 shares, totaling RMB 50.0588 million, which represents 47.30% of the net profit attributable to shareholders for 2021[6]. - The company has confirmed compliance with cash dividend policies and procedures, ensuring transparency and fairness for shareholders[196]. Research and Development - Research and development investment accounted for 12.46% of operating revenue, an increase of 2.66 percentage points from the previous year[23]. - R&D investment amounted to RMB 48.7529 million, up 96.73% year-on-year, constituting 12.46% of operating revenue[38]. - The company has obtained 2 new invention patents and 8 utility model patents during the reporting period, bringing the total to 10 invention patents and 98 utility model patents[71]. - The R&D team has been expanded through campus recruitment, enhancing the talent pipeline for sustainable development in testing solutions for various chip applications[75]. - The company is focusing on enhancing testing efficiency for mid-to-high-end chip testing solutions, leading to increased investments in testing equipment development[75]. - The company has developed testing solutions for various applications, including 5G communication, AI, and automotive electronics[33]. Operational Efficiency and Capacity Expansion - The company maintained a full capacity operation in the second half of 2021, leading to significant revenue and profit growth due to economies of scale[23]. - The company secured a credit line of RMB 215 million from multiple commercial banks to support capacity expansion[36]. - The company is actively expanding its mid-to-high-end testing capacity to meet increasing market demand[40]. - The company has established four testing technology service production bases in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region, enhancing its marketing capabilities and brand effect[41]. - The company is committed to expanding its production capacity and improving operational efficiency to meet future market demands[141]. Corporate Governance - The company has not disclosed any special arrangements for corporate governance[8]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring effective operation and compliance with regulations[149]. - The company has implemented strict internal control and governance measures to ensure compliance with relevant laws and regulations, enhancing information disclosure and protecting investor rights[42]. - The company has established various committees, including an audit committee and a remuneration and assessment committee, to enhance governance[149]. - The company has appointed independent directors and established a mechanism for checks and balances among governance bodies[149]. Market and Industry Trends - In 2021, the global semiconductor sales reached $555.9 billion, a year-on-year increase of 26.2%[54]. - China's integrated circuit industry sales amounted to ¥1,045.83 billion in 2021, growing by 18.2% year-on-year[55]. - The independent third-party professional testing sector remains small compared to the overall integrated circuit industry, indicating a bottleneck in meeting the growing demand for verification and mass production testing[66]. - The rise of the Chipless business model is evident, with companies like Gree and Alibaba entering chip design to reduce reliance on traditional IDM models[64]. Risks and Challenges - The company has detailed various risks and countermeasures in the report, particularly in the section on risk factors[4]. - The ongoing global chip shortage has prompted the company to strategically reserve and allocate testing capacity to meet customer demands[32]. - The company faces risks related to fluctuations in gross margin due to varying profitability across different chip types and testing platforms[103]. - The company is exposed to risks from the lack of property ownership certificates for leased facilities, which could lead to operational disruptions[104]. - The competitive landscape in the integrated circuit testing industry poses challenges, with the company holding a low market share compared to foreign competitors[108]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 910, with 640 in the parent company and 270 in subsidiaries[190]. - The company has established a comprehensive and competitive compensation system to enhance employee motivation and overall performance[192]. - The company implemented a restricted stock incentive plan in 2021, granting 2.288 million shares to 272 employees, representing 1.68% of the total shares[198]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 8.82 million RMB[169]. - The company has been actively expanding its management team with experienced professionals from various sectors, enhancing its operational capabilities[163].