Triductor(SH:688259)2023-04-10 16:00Financial Performance - The company has not yet achieved profitability since its IPO on January 12, 2022 [4]. - In 2022, the company achieved operating revenue of CNY 931.73 million, a year-on-year increase of 45.43% due to steady growth in its main business, particularly in the access network segment [25]. - The net profit attributable to shareholders was CNY 91.02 million, representing a 15.67% increase compared to the previous year, driven by enhanced profitability from business growth and IPO fundraising [26]. - The gross profit margin for 2022 was 28.53%, a decrease of 1.24 percentage points from the previous year [36]. - The company's net assets attributable to shareholders grew by 643.63% year-on-year to CNY 1.49 billion, largely due to funds raised from the IPO and an increase in retained earnings [26]. - The company's operating revenue reached ¥931.73 million, representing a year-on-year increase of 45.43% [114]. - Operating costs increased to ¥665.95 million, reflecting a growth of 48.01% compared to the previous year [114]. - The company reported a total revenue of 725.3 million RMB, with a year-on-year increase of 209.65 million RMB, representing a growth of approximately 40.5% [89]. Cash Dividend Policy - The company plans to distribute a cash dividend of RMB 3.50 per 10 shares, totaling RMB 28 million, which represents 30.76% of the net profit attributable to shareholders for the year [6]. - The proposed cash dividend distribution is RMB 3.50 per 10 shares, totaling RMB 28,000,000 (including tax) based on a total share capital of 80,000,000 shares [198]. - The total cash dividend represents 30.76% of the net profit attributable to shareholders for the year 2022 [198]. - The company has maintained a stable cash dividend policy since its listing, with no adjustments made to the policy [197]. - The cash dividend policy specifies that during the mature stage without significant capital expenditure, the cash dividend should be at least 80% of the profit distribution [196]. - The company’s available profit for distribution at the end of the reporting period was RMB 133,930,115.70 [198]. - The company’s cash dividend policy is in compliance with its articles of association and shareholder resolutions [199]. - The company has a complete decision-making process and mechanism for its cash dividend policy [199]. Research and Development - The research and development expenses amounted to CNY 20.96 million, a 74.71% increase, with R&D investment as a percentage of operating revenue rising by 3.77 percentage points to 22.50% [27]. - The company is committed to independent research and technology innovation, expanding its R&D team to enhance product performance and functionality [27]. - The company achieved a total R&D investment of ¥209,645,857.77, representing a 74.71% increase compared to the previous year [82]. - R&D investment accounted for 22.50% of total revenue, up from 18.73% in the previous year, indicating a 3.77% increase [83]. - The company has developed advanced technologies in power line carrier communication and access network chips, positioning itself as a leader in domestic communication technology [43]. - The company has made significant advancements in dual-mode communication technology, enhancing performance against power line noise and improving reliability [95]. - The company has established design capabilities for 16nm, 14nm, 10nm, 7nm, and 5nm FinFET process chips, maintaining a leading position in domestic technology levels [96]. Market Position and Strategy - The company is actively developing dual-mode communication chips in response to the smart grid technology trends, with successful testing and certification achieved [38]. - The company is focused on communication core chip R&D, design, and sales, with applications in access network communication and power line carrier communication [42]. - The company has established a strategic investment plan focusing on technology synergy and new business expansion opportunities within the industry chain [41]. - The company is exploring partnerships with key industry players to leverage synergies and enhance competitive advantage in the market [172]. - The company is focusing on both internal development and external integration opportunities to support its long-term growth strategy [159]. - The company is actively participating in the development of the power IoT along the "Belt and Road" initiative, which is expected to create new growth opportunities for its power line carrier communication products [157]. - The company is positioned to benefit from the increasing demand for intelligent devices and terminals due to the complexity of new power systems driven by renewable energy sources [68]. Risks and Challenges - The company faces risks related to dependency on a major customer, which could significantly impact its business if the partnership is terminated [101]. - The company is at risk of declining market share in the power line carrier communication chip sector due to intense competition and the need for timely innovation [102]. - The company operates under a Fabless model, leading to high supplier concentration risks, which could affect production if suppliers face operational difficulties [106]. - International trade friction poses a risk to the company's business, particularly in semiconductor sales, which could be impacted by changes in trade policies [103]. - The integrated circuit industry is subject to cyclical fluctuations, which could affect customer demand and subsequently the company's sales performance [104]. Corporate Governance - The company has established a robust internal control system to enhance governance and compliance with relevant laws and regulations [163]. - There were no significant discrepancies in corporate governance compared to regulatory requirements, ensuring independence and operational capability [164]. - The company held its annual shareholder meeting on May 5, 2022, where 11 proposals were approved, including the annual financial report [166]. - The company has consistently passed all resolutions during its board meetings, indicating strong governance practices [187]. - The company has no reported risks or dissenting opinions from the supervisory board during the reporting period [190]. Employee and Talent Development - As of the end of 2022, the company had a total of 428 employees, with 164 new hires in 2022, emphasizing talent development as a core competitive advantage [41]. - The number of R&D personnel increased to 133, accounting for 31.07% of the total workforce, up from 29.23% in the previous year [93]. - The total compensation for R&D personnel reached 41.83 million RMB, an increase from 21.66 million RMB in the previous year, indicating a growth of 92% [93]. - The company emphasizes competitive compensation packages, including fixed and variable salaries, performance bonuses, and stock incentives [192]. - The company conducted a training program focused on project management to enhance employee skills and management capabilities [193].