Delphi Laser(SH:688170)2023-04-26 16:00Financial Performance - The company's operating revenue for 2022 was CNY 568,452,971.58, an increase of 3.48% compared to CNY 549,316,370.07 in 2021[22]. - The net profit attributable to shareholders for 2022 was CNY 67,401,477.69, a decrease of 23.16% from CNY 87,713,713.34 in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 51,556,403.35, down 35.77% from CNY 80,274,415.61 in 2021[22]. - The net cash flow from operating activities was CNY 4,353,276.99, a significant decrease of 91.42% compared to CNY 50,732,077.10 in 2021[22]. - The total assets at the end of 2022 were CNY 1,614,021,786.08, an increase of 66.41% from CNY 969,930,217.47 at the end of 2021[22]. - The net assets attributable to shareholders at the end of 2022 were CNY 1,309,719,988.30, a 126.02% increase from CNY 579,463,469.09 at the end of 2021[22]. - The company's operating revenue for the year reached ¥568,452,971.58, representing a year-on-year increase of 3.48%[142]. - Operating costs amounted to ¥285,892,148.21, which is a 5.66% increase compared to the previous year[144]. - The gross profit margin for precision laser processing equipment was 49.09%, showing an increase of 0.26 percentage points year-on-year[146]. Dividend and Profitability - The company plans to distribute a cash dividend of 4 CNY per 10 shares, totaling approximately 41.34 million CNY, which represents 61.34% of the net profit attributable to shareholders for 2022[6]. - The company has not yet achieved profitability since its listing[5]. - Basic and diluted earnings per share were both 0.71 yuan, down 37.17% from the previous year[24]. Research and Development - The company's R&D expenditure accounted for 14.99% of operating revenue, an increase of 4.26 percentage points year-on-year[24]. - R&D expenses increased by 44.63% year-on-year, impacting net profit growth[37]. - The company achieved a total R&D investment of ¥85,235,478.28 in 2022, representing a 44.63% increase compared to ¥58,932,661.11 in the previous year[103]. - R&D investment accounted for 14.99% of total revenue, up from 10.73%, indicating a 4.26% increase in the proportion of R&D spending[103]. - The company applied for 35 invention patents and obtained 1, bringing the total number of valid patents to 34[100]. Market and Product Development - The company is focusing on expanding into the new energy sector while maintaining its core applications in semiconductors, displays, and electronics[35]. - The company has established a new energy division in 2022, targeting lithium battery and photovoltaic applications, including perovskite solar cell production equipment[45]. - The company launched a fully automated laser annealing equipment for SiC with capabilities for automatic loading and unloading of wafers, achieving high efficiency in advanced packaging applications[42]. - The company introduced a fully automated glass laser edging machine, replacing traditional CNC methods, enhancing precision in mobile and smart wearable device applications[43]. - The company has developed a series of laser processing solutions for lithium battery applications, enhancing efficiency and reducing costs for clients[70]. Sales and Revenue Growth - The company reported a significant increase in sales and R&D expenses, impacting overall profitability[24]. - Precision laser processing equipment sales revenue reached 426 million yuan, a year-on-year increase of 5.60%[36]. - The company's net profit attributable to shareholders was 67.40 million yuan, a decrease of 23.16% compared to the previous year[37]. - The overall laser sales revenue was 41.21 million yuan, down 27.81% year-on-year, affected by a slowdown in downstream demand[37]. Risks and Challenges - The company has identified potential risks in its operations, which are detailed in the management discussion section of the report[5]. - The company faces risks related to the reliance on imported core materials, which may be affected by international trade conditions[134]. - The competitive landscape in the laser processing market is intensifying, with over 300 domestic companies, leading to increased market risks[129]. - The company lacks continuity among its top five clients, which may impact future revenue stability[133]. Corporate Governance - The audit report issued by Dahua Certified Public Accountants confirms the financial report's authenticity and completeness[6]. - There are no non-operational fund occupations by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[9]. - The board of directors has confirmed that all members attended the board meeting[5]. - The company has not disclosed any special arrangements for corporate governance[9]. Future Outlook - The future plans and strategies mentioned in the report are subject to uncertainties and do not constitute a commitment to investors[7]. - The company aims to enhance its competitive edge in the LED chip industry by optimizing Micro LED technology and reducing production costs amid increasing market competition[68]. - The company is committed to advancing the Micro LED display technology, which is seen as the next generation after OLED[110].