富创精密(688409) - 2022 Q4 - 年度财报

Financial Performance - In 2022, the company's operating revenue reached CNY 1,544,463,324.83, an increase of 83.18% compared to CNY 843,128,232.40 in 2021[28] - The net profit attributable to shareholders of the listed company was CNY 245,638,859.35, representing a growth of 94.19% from CNY 126,491,769.15 in the previous year[28] - The net profit after deducting non-recurring gains and losses was CNY 178,234,772.41, up 138.13% from CNY 74,847,344.02 in 2021[31] - Basic earnings per share for 2022 was CNY 1.45, a year-on-year increase of 79.01%[32] - The total assets of the company at the end of 2022 were CNY 6,640,477,308.74, a 167.05% increase from CNY 2,486,588,178.69 at the end of 2021[28] - The net assets attributable to shareholders of the listed company increased by 343.17% to CNY 4,644,913,904.62 from CNY 1,048,100,645.63 in 2021[28] - The company's cash flow from operating activities showed a net outflow of CNY 22,324,222.55, a decrease of 114.19% compared to a net inflow of CNY 157,339,644.21 in 2021[28] - The company achieved a total revenue of 154,446.33 million yuan in the reporting period, representing a year-on-year increase of 83.18%[46] - The company’s net profit attributable to shareholders was 245.64 million yuan, a 94.19% increase compared to the same period in 2021[58] - The company’s total assets amounted to 6,640.48 million yuan, with net assets attributable to shareholders at 4,644.91 million yuan, indicating a solid financial position[40] Research and Development - The company's R&D investment as a percentage of operating revenue was 7.89%, down 0.91 percentage points from 8.80% in the previous year[30] - The company invested 121.85 million yuan in R&D, accounting for 7.89% of total revenue, which is a 64.22% increase from the previous year[64] - The company focuses on R&D in precision mechanical manufacturing, surface treatment technologies, and welding techniques, with a strong emphasis on high precision and cleanliness requirements[100] - The number of R&D personnel increased to 333 in 2022, up from 225 in the previous year, representing 18.09% of the total workforce[139] - The company has filed 124 new patent applications in the year, with 58 patents granted, bringing the total to 556 applications and 182 granted[109] - The company has a diverse R&D team, with 57 master's degree holders and 2 PhD holders, supporting its innovation capabilities[159] - The company is focusing on independent and joint R&D of new products to achieve domestic substitution of upstream components, ensuring supply chain security and reducing procurement costs and cycles[65] - The company emphasizes independent R&D while also collaborating with universities and research institutions for new technology and product development[116] Market and Sales - Revenue from the mainland China region reached 835 million yuan, up 155.87% year-on-year, while revenue from outside mainland China was 694 million yuan, an increase of 37.82%[46] - The proportion of revenue from mainland China increased to 54.61%, while revenue from outside mainland China accounted for 45.39%[44] - Approximately 50% of the company's main business revenue comes from overseas sales, with foreign sales primarily settled in USD[165] - The direct and indirect sales to the largest customer accounted for 42.75% of the total operating revenue in 2022, down from 58.26% in 2021, indicating a decrease in dependency on this customer[170] - The company is actively expanding its domestic market presence, with products entering major domestic semiconductor equipment manufacturers, ensuring supply chain security for China's semiconductor industry[121] Production and Operations - The company's product structure is improving, with the combined revenue from module products and gas pipelines increasing from 33.67% in 2020 to 40.62% in 2022[60] - The company's production model is based on customer orders, with a focus on completing client certifications before mass production[74] - The production model of semiconductor equipment precision components is characterized by "multiple varieties, small batches, and customization" due to the high cost and low volume of semiconductor equipment[100] - The company has developed advanced welding technologies, including electron beam welding and laser welding, to ensure high quality and precision in manufacturing semiconductor components[107] - The company has developed a common technology platform for semiconductor precision components, improving production efficiency and product quality[161] Challenges and Risks - The company faces risks related to management capacity as it scales, particularly in matching management capabilities with operational growth[145] - The company is at risk of losing existing or potential customers if it fails to meet the rapidly growing demand in the semiconductor industry[167] - The lack of high-end technical talent in the semiconductor precision component manufacturing industry poses a long-term challenge to the company's competitiveness[172] - The semiconductor industry is experiencing rapid technological iterations, and failure to keep pace with advanced process requirements may impact the company's gross margin[175] - The company faces risks related to external political and economic environments that could adversely affect export operations and overall business performance[168] Government Support and Subsidies - The company reported government subsidies recognized in the current period amounting to CNY 71,036,661.15, compared to CNY 56,177,646.86 in 2021[34] - Government subsidies recognized during the reporting period amounted to 7,103.67 million RMB, representing 26.57% of the total profit for the year, highlighting reliance on external support[174] Future Plans and Investments - The company plans to distribute cash dividends of 7.00 RMB per 10 shares, totaling approximately 146,337,333.80 RMB, which represents 59.57% of the net profit attributable to shareholders for the year[194] - The company is developing high-performance coating technology with an expected total investment of ¥31.45 million, aiming for mass production in key semiconductor processes[135] - The gas transmission system technology development project aims to improve overall production efficiency by 20%[135] Industry Overview - The global semiconductor equipment market size increased from $298.3 billion in 2010 to $440.4 billion in 2020, with expectations to continue expanding towards 2030[95] - The global semiconductor equipment sales are projected to grow from $39.5 billion in 2010 to $71.2 billion in 2020, and expected to reach $140 billion by 2030[96] - In 2022, the sales revenue of semiconductor equipment in mainland China reached $23.8 billion, marking the third consecutive year as the largest semiconductor equipment market globally[119] Corporate Recognition - The company is recognized as a national-level "little giant" enterprise and a "single champion" in the manufacturing industry, reflecting its technological breakthroughs and industry leadership[108]