SICC CO.(SH:688234)2022-03-31 16:00Financial Performance - The company is currently unprofitable and has not achieved profitability since its listing [3]. - The company's operating revenue for 2021 was ¥493,856,844.38, representing a 16.25% increase compared to ¥424,811,901.45 in 2020 [19]. - The net profit attributable to shareholders for 2021 was ¥89,951,507.57, a significant recovery from a loss of ¥641,613,245.23 in 2020 [19]. - The net cash flow from operating activities turned positive at ¥110,700,259.62, compared to a negative cash flow of ¥122,017,640.06 in 2020 [19]. - The company's total assets increased by 6.10% to ¥2,618,436,151.68 at the end of 2021, up from ¥2,467,938,819.45 at the end of 2020 [19]. - The company's comprehensive gross margin for the reporting period was 28.43%, a decrease of 6.85 percentage points year-on-year [79]. - The company faced a cumulative unallocated profit of -75.97 million yuan as of December 31, 2021 [78]. - The company achieved total revenue of 493.86 million yuan, a year-on-year increase of 16.25%, and a net profit attributable to the parent company of 89.95 million yuan, an increase of 73.16 million yuan compared to the previous year [28]. Research and Development - The company emphasizes its commitment to research and development, particularly in the area of silicon carbide (SiC) crystal growth technology [12]. - Research and development expenses accounted for 14.93% of operating revenue in 2021, an increase of 4.22 percentage points from 10.71% in 2020 [21]. - The company applied for a total of 89 new patents during the reporting period, including 37 invention patents and 52 utility model patents, enhancing its competitive edge in the market [29]. - The company has achieved significant advancements in automation for crystal growth processes, ensuring real-time monitoring of critical parameters [55]. - The company has established a strong research and development platform, including a national-level postdoctoral research station, enhancing its technological capabilities in the silicon carbide industry [69]. Market Position and Strategy - The company is focused on expanding its market presence and exploring opportunities in the semiconductor industry, particularly in high-end chips and core electronic devices [12]. - The company maintained a global market share in the semi-insulating silicon carbide substrate field, ranking among the top three for three consecutive years, and is accelerating the capacity construction of conductive substrates [28]. - The company is actively involved in the development of new technologies and products, particularly in the field of wide bandgap semiconductors, which are crucial for high-performance applications [11]. - The company aims to strengthen its position in the silicon carbide substrate field through increased focus on product innovation and technology investment [21]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023 [127]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [4]. - All board members attended the board meeting, ensuring governance compliance [4]. - The company has not disclosed any special arrangements for corporate governance [6]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2021, representing a year-over-year growth of 15% [127]. - The company has established a comprehensive internal control system in compliance with relevant laws and regulations to enhance governance and operational stability [153]. Environmental and Social Responsibility - The company has not been listed as a key pollutant discharge unit by environmental protection authorities during the reporting period [158]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [159]. - The company donated 200,000 RMB to Qilu University for scholarships to support underprivileged students [168]. - The company actively participates in poverty alleviation efforts and has engaged in community support activities [169]. Employee Relations - The company employs a Make-To-Order production model, enhancing customer satisfaction and inventory control [36]. - The company emphasizes talent acquisition and retention, with a focus on building a skilled workforce to support its research and production capabilities [69]. - The total number of shares held by board members remained unchanged at 129,302,726 shares [126]. - The company has established a competitive salary system based on job levels and performance assessments to attract and retain talent [147]. - The company has implemented an employee stock incentive plan prior to its IPO to boost employee motivation and creativity [157]. Future Outlook - The company provided a positive outlook for 2022, projecting revenue growth of 20% based on new product launches and market expansion strategies [127]. - The company plans to leverage AI and digital twin technologies to create a digital factory, significantly improving R&D speed and production quality [28]. - Future guidance includes an expected EBITDA margin of 25% for 2022, driven by increased sales and cost control measures [127]. - The company aims to reduce operational costs by 15% over the next year through efficiency improvements and process optimization [127].