PRIMARIUS(SH:688206)2022-04-14 16:00Financial Performance - The company has not yet achieved profitability since its listing[5]. - The company reported a revenue of RMB 1.5 billion for the fiscal year 2021, representing a year-over-year growth of 25%[22]. - The company's operating revenue for 2021 was CNY 193,868,563.04, representing a year-on-year increase of 41.01% due to strong market demand and significant sales growth in design EDA and semiconductor testing instruments[34]. - The net profit attributable to shareholders for 2021 was CNY 28,604,631.02, a decrease of 1.41% compared to the previous year[31]. - The net cash flow from operating activities for 2021 was CNY 56,472,485.69, down 30.68% year-on-year, primarily due to increased employee compensation and higher cash payments for raw materials[34]. - The gross margin for the year was reported at 35%, an increase from 30% in the previous year[22]. - The company achieved operating revenue of 193.87 million yuan, a year-on-year increase of 41.01%[169]. - The net profit attributable to shareholders of the parent company was 28.60 million yuan, a year-on-year decrease of 1.41%[169]. Research and Development - The company is investing RMB 200 million in R&D for new semiconductor technologies in 2022[22]. - The company's R&D expenditure accounted for 40.99% of operating revenue, an increase of 2.08 percentage points compared to 2020[31]. - Research and development (R&D) expenses totaled ¥794.58 million this year, a 48.52% increase from ¥535.00 million last year, representing 40.99% of operating revenue, up 2.08 percentage points[121]. - The total number of R&D personnel reached 142 by the end of 2021, a growth of 57.78% compared to the end of 2020, representing 59.41% of the total workforce[50]. - The company has increased its R&D personnel by 57% from 90 to 142, reflecting a significant investment in talent to support product development[134]. Market Strategy and Growth - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[22]. - The company expects a revenue growth of 30% for the next fiscal year, projecting revenues to reach RMB 1.95 billion[22]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[34]. - The company has established strategic partnerships with three major tech firms to co-develop next-generation semiconductor solutions[22]. - The company has successfully collaborated with leading memory chip manufacturers, enhancing its competitive edge in the memory chip sector[139]. Corporate Governance and Compliance - The board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - There are no non-operating fund occupations by controlling shareholders or related parties[11]. - The company does not have any special arrangements for corporate governance[8]. - The company has not violated decision-making procedures for external guarantees[11]. - The company has received a standard unqualified audit report from Da Hua Accounting Firm[6]. Risks and Challenges - The company faces risks related to increased share-based payment expenses, which could lead to significant profit declines or losses[145]. - The company must continuously innovate to keep pace with rapid technological advancements in the semiconductor industry, or risk losing market competitiveness[146]. - The company’s EDA products must gain recognition in the international market to achieve scalable sales, which poses a challenge due to high validation standards[150]. - The EDA industry faces significant talent retention risks due to high demand for skilled professionals and competition from sectors like AI and the internet[151]. - The company faces risks related to goodwill impairment if acquired companies do not perform as expected, potentially impacting profitability[159]. Product Development and Technology - The company has developed three core technology categories: manufacturing EDA technology, design EDA technology, and semiconductor device characteristic testing technology, with over 20 corresponding sub-products and services[117]. - The company has successfully developed EDA tools for device modeling and verification, which are widely adopted by leading foundries like TSMC and Samsung[95]. - The company’s EDA tools support advanced process nodes such as 7nm, 5nm, and 3nm, creating high technical barriers and ensuring ongoing innovation[140]. - The company emphasizes the importance of EDA tools in the integrated circuit industry, as they significantly impact product performance and yield rates[117]. - The company has established a strong reliance on EDA tools due to increasing complexity and cost in integrated circuit design and manufacturing[117]. Financial Management - The company plans to distribute a cash dividend of 0.2 CNY per 10 shares, totaling approximately 8.6761 million CNY, which represents 30.33% of the net profit attributable to ordinary shareholders[7]. - The company’s financing activities generated a net cash flow of 1.12 billion yuan, an increase of 39.52% year-on-year, mainly from IPO fundraising[174]. - Cash flow from operating activities decreased by 30.68% compared to the previous year, primarily due to increased employee compensation and material purchases[173]. - The total procurement amount for the year was 68.08 million yuan, with the top five suppliers accounting for 92.82% of total procurement[194]. - Changes in tax policies or failure to meet eligibility criteria for tax incentives could adversely affect the company's financial performance[165].