Leadyo(SH:688135)2023-06-15 16:00Financial Performance - The company's operating revenue for 2020 was CNY 252.83 million, an increase of 8.97% compared to CNY 232.01 million in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 51.95 million, a decrease of 14.61% from CNY 60.84 million in 2019[22]. - The cash flow from operating activities for 2020 was CNY 105.37 million, down 30.38% from CNY 151.35 million in 2019[22]. - The total assets at the end of 2020 were CNY 1,092.11 million, an increase of 88.29% from CNY 580.01 million at the end of 2019[22]. - The basic earnings per share for 2020 was CNY 0.49, a decrease of 19.67% compared to CNY 0.61 in 2019[23]. - The weighted average return on equity for 2020 was 10.01%, down 5.55 percentage points from 15.56% in 2019[23]. - The net profit attributable to shareholders for Q4 2020 was CNY 21.36 million, compared to CNY 20.50 million in Q2 2020[25]. - The company received government subsidies amounting to CNY 6.23 million in 2020, compared to CNY 2.25 million in 2019[27]. - The total non-recurring gains and losses for 2020 amounted to CNY 6.21 million, compared to CNY 2.23 million in 2019[28]. - The gross profit margin for the main business was 46.99%, a decrease of 6.84 percentage points year-on-year[130]. R&D and Innovation - The R&D expenditure as a percentage of operating revenue was 9.80% in 2020, up from 9.48% in 2019[24]. - The company invested a total of ¥24,782,129.58 in R&D for the year, representing a 12.69% increase from the previous year's investment of ¥21,991,301.59, with R&D expenses accounting for 9.80% of total revenue[84]. - The company added 5 invention patents and 18 utility model patents during the reporting period, bringing the total number of patents to 143[81]. - The company’s R&D investment as a percentage of revenue increased by 0.32% compared to the previous year, reflecting a commitment to innovation[84]. - The company has developed testing capabilities for emerging applications in 5G communications, sensors, and IoT, with plans to expand into AI, VR, blockchain, big data, and cloud computing testing solutions[96]. - The company emphasizes continuous innovation in technology to maintain long-term market competitiveness and enhance existing core business capabilities[96]. Operational Strategy - The company aims to enhance operational management and production efficiency to reduce costs and increase market share in the future[41]. - The company has established a production model based on order-driven production, ensuring personalized testing solutions tailored to customer needs[38]. - The company employs a sales model focused on direct sales, with a marketing center responsible for developing sales strategies and managing customer relationships[40]. - The company has established two production bases in Dongguan and Jiading, enhancing its ability to respond quickly to customer needs and maintain a competitive edge in the semiconductor industry[94][95]. - The company plans to enhance its R&D capabilities and service technology levels to increase market share in the domestic integrated circuit testing service sector[156]. - A focus on increasing investment in testing equipment and service R&D to meet future market demands is part of the operational plan[157]. Market Position and Competition - The global semiconductor market sales reached $439 billion in 2020, with a year-on-year growth of 6.5%[45]. - China's integrated circuit industry sales amounted to 884.8 billion yuan in 2020, representing a year-on-year growth of 17%[45]. - The independent third-party testing sector remains small within the overall integrated circuit industry, unable to meet the growing verification and mass production testing demands of IC design companies[56]. - The integrated circuit testing industry has a market capacity estimated between 22.67 billion and 30.23 billion yuan, with the company facing competition from various domestic and foreign players[123]. - The company has established a significant position as one of the largest independent third-party integrated circuit testing bases in China[48]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure to enhance internal controls and protect investor rights[109]. - The company has confirmed that all board members attended the board meeting, ensuring collective responsibility for the report's accuracy[5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, indicating a stable financial governance structure[7]. - The actual controller and shareholders have committed to various promises, with compliance confirmed for all commitments made during the reporting period[168]. - The company has established measures to ensure compliance with information disclosure obligations during any share reduction activities[174]. Shareholder and Financial Management - The company plans to distribute a cash dividend of 3.67 RMB per 10 shares, totaling approximately 50.06 million RMB, which represents 96.36% of the net profit attributable to shareholders for 2020[5]. - The company has a share repurchase plan in place, with a commitment to repurchase shares within a specified timeframe[169]. - The company will seek acquisition opportunities in the industry to expand its scale and enhance competitiveness[160]. - The company will maintain a flexible financing strategy to effectively control capital costs and ensure sustainable development[159]. - The company reported a positive profit for the reporting period, with net income available to common shareholders being positive, but did not propose a cash profit distribution plan[167].