JADARD TECHNOLOGY INC.(SH:688252)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,198,312,355.25, representing a 7.40% increase compared to ¥1,115,712,400.00 in 2021 [20]. - The net profit attributable to shareholders for 2022 was ¥129,784,761.01, a decrease of 60.59% from ¥329,318,460.41 in 2021 [20]. - The net cash flow from operating activities was ¥34,491,552.70, down 76.72% from ¥148,150,881.25 in 2021 [20]. - The total assets at the end of 2022 were ¥2,062,745,779.46, an increase of 86.19% from ¥1,107,898,536.28 at the end of 2021 [20]. - The net assets attributable to shareholders increased by 105.87% to ¥1,813,609,266.43 at the end of 2022 from ¥880,967,384.84 at the end of 2021 [20]. - Basic earnings per share for 2022 were ¥0.35, a decrease of 61.11% from ¥0.90 in 2021 [21]. - The weighted average return on equity for 2022 was 11.34%, down 35.86 percentage points from 47.20% in 2021 [21]. - The company reported a decrease in the net profit after deducting non-recurring gains and losses to ¥126,141,176.31, down 61.06% from ¥323,940,197.22 in 2021 [20]. Research and Development - The company's R&D investment as a percentage of operating income increased by 0.73 percentage points to 12.49% [22]. - R&D investment reached CNY 150 million, a 14.07% increase year-on-year, accounting for 12.49% of the company's revenue [33]. - The number of R&D personnel rose to 219, accounting for 69.97% of the total workforce, indicating a strong focus on innovation [52]. - The company has achieved significant breakthroughs in technologies such as RF wave energy harvesting for electronic price tags, enabling battery-free operation [46]. - The company emphasizes the importance of independent intellectual property technology and has established a customer demand-oriented R&D model [33]. Market and Product Development - The company plans to continue expanding its market presence and invest in new product development [20]. - The company is focusing on enhancing its technology capabilities and exploring potential mergers and acquisitions to drive growth [20]. - The company is actively expanding its product lines, including smart mobile terminal display driver chips, camera voice coil motor driver chips, fast charging protocol chips, and electronic price tag driver chips [36]. - The company aims to achieve high resolution and refresh rates in its display driver chips, leading the industry in performance metrics [59]. - The company is developing advanced algorithms for its VCM driver chips, enhancing autofocus speed and image clarity [61]. Governance and Compliance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance regulations [120]. - The company held 3 shareholder meetings, 5 board meetings, and 4 supervisory meetings during the reporting period, maintaining active governance [120]. - All proposals at the shareholder meetings were approved without any rejections, indicating strong governance practices [123]. - The company is committed to improving its internal control management system and governance structure [120]. - The company emphasizes the importance of shareholder rights and adheres to strict information disclosure practices to ensure transparency and fairness [176]. Risks and Challenges - The company has not faced any significant risks that could materially impact its operations during the reporting period [4]. - The company faces risks related to technology innovation and new product development, which are critical for capturing market opportunities in the evolving 5G and IoT landscape [67][68]. - The company is exposed to foreign exchange risks due to transactions in currencies like USD, which could impact its financial status if exchange rate fluctuations are significant [75]. - The company reported a decline in gross margin due to a weak consumer electronics market and high inventory levels, leading to performance downturn risks [66]. - The company operates in a highly competitive integrated circuit design industry, with increasing pressure from domestic competitors, which could affect market share and profitability [77]. Employee and Talent Management - The company has established a comprehensive salary management system to attract and retain talent, enhancing employee cohesion and competitiveness [150]. - The company emphasizes employee training and development, implementing various training programs to improve overall employee capabilities [151]. - The total remuneration for directors, supervisors, and senior management amounted to RMB 13.16 million [138]. - The company plans to enhance talent team construction, implementing equity incentive plans to attract and retain top talent [117]. - Employee stock ownership includes 137 individuals, representing 43.08% of total employees, with a total of 4,183,447.5 shares held, accounting for 10.32% of total share capital [178]. Environmental Responsibility - The company is committed to environmental responsibility and has developed a low-power design for its electronic shelf label (ESL) chips, which utilize RF energy harvesting technology [174]. - The ESL technology aims to eliminate battery usage, thereby reducing environmental pollution and promoting sustainability [174]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [172]. - The company has not established an environmental protection mechanism but is actively engaged in carbon reduction measures through innovative product development [171]. Financial Policies and Shareholder Returns - The company reported no cash dividends or capital reserve transfers for the fiscal year 2022, pending shareholder approval [5]. - The company has a profit distribution policy that prioritizes reasonable returns to investors while ensuring sustainable development [152]. - The company will not distribute profits or convert capital reserves into share capital for the fiscal year 2022 [155]. - The cash dividend policy stipulates that if the company has no major investment plans, the cumulative cash distribution over the last three years should be at least 30% of the average distributable profit [154]. - The company reported a positive net profit available for distribution to shareholders in 2022 but did not propose a cash profit distribution plan due to significant funding needs for R&D and business expansion [157].