3PEAK(SH:688536)2023-04-14 16:00Financial Performance - The company's revenue for 2022 increased by 34.50% year-on-year, driven by steady growth in signal chain product sales and rapid growth in power management product sales [17]. - In 2022, the company's operating revenue reached ¥1,783,353,923.65, a year-on-year increase of 34.50% compared to ¥1,325,948,910.93 in 2021 [35]. - The net profit attributable to shareholders decreased by 39.85% to ¥266,807,410.51 in 2022 from ¥443,535,565.13 in 2021 [35]. - The net profit after deducting non-recurring gains and losses fell by 49.26% to ¥187,234,070.42 in 2022 [35]. - The company's cash flow from operating activities increased by 119.27% to ¥530,062,966.24 in 2022 [35]. - The proposed cash dividend is CNY 2.06 per 10 shares (including tax), totaling CNY 24,760,268.262, which represents 9.28% of the net profit attributable to shareholders for the year [4]. - As of December 31, 2022, the company's distributable profits amounted to CNY 1,069,880,506.57 [4]. Market Trends - The global semiconductor market sales reached USD 573.5 billion in 2022, reflecting a 3.2% year-on-year growth, a significant decrease from the 26.2% growth in 2021 [18]. - The semiconductor market is expected to decline in 2023, with sales projected to drop to USD 557 billion [18]. - In 2021, China's integrated circuit industry sales exceeded 1 trillion yuan for the first time, with a compound annual growth rate of 17% from 2018 to 2021, more than three times the global growth rate during the same period [21]. - In 2022, China's integrated circuit production decreased by 9.8% year-on-year, totaling 324.19 billion units, with a monthly production decline of 26.7% in October [21]. - Integrated circuit exports in 2022 amounted to 273.4 billion units, a decrease of 12% year-on-year, while the export value increased by 3.5% to 1,025.4 billion yuan [21]. - Integrated circuit imports fell by 15.3% to 538.4 billion units in 2022, with a total import value of 2,766.3 billion yuan, down 0.9% year-on-year [21]. - The domestic integrated circuit industry is expected to benefit from favorable policies and increasing market demand, presenting new growth opportunities [22]. Product Development and Innovation - The company is committed to advancing new product development and technology to meet emerging market demands [17]. - The company launched several new products, including the TPA1286 high-voltage precision amplifier and a new 16-bit SAR ADC, enhancing its product lineup [47]. - The company introduced a new high-current low-dropout regulator, TPL910A, which leads the industry in noise performance [47]. - The company launched over 20 automotive-grade chips during the reporting period, successfully passing AEC-Q100 certification, and is now able to provide a complete automotive-grade solution for analog and power management components [48]. - The company achieved significant advancements in technology, including an SAR ADC with a maximum resolution of 18 bits and an operational amplifier with ultra-low bias current of 100 fA [165]. - The company is focusing on developing products for industrial, communication, and automotive applications, indicating a strategic market expansion [198]. Research and Development - The R&D team expanded significantly, with the number of R&D personnel increasing to 486, a year-on-year growth of 76.73%, and R&D personnel now account for 74.43% of the total workforce [69]. - R&D expenses increased by 117.84% year-on-year, totaling ¥655,631,304.02, compared to ¥300,969,068.30 in the previous year [193]. - The total R&D investment accounted for 36.76% of operating revenue, an increase of 14.06 percentage points from 22.70% in the previous year [193]. - The company applied for 120 new patents this year, with 60 patents granted, bringing the cumulative total to 349 applications and 177 grants [193]. - The ongoing project "High-Performance Amplifier" has a total investment of ¥1,000.00 million, with ¥187.41 million invested this period, currently in the R&D upgrade stage [198]. - The project "High-Performance Driver" has a total investment of ¥18,000.00 million, with ¥827.80 million invested this period, also in the R&D upgrade stage [198]. - The "High-Precision Battery Protection Product" project has a total investment of ¥8,000.00 million, with ¥2,817.44 million invested this period, currently in the continuous development stage [198]. - The "Low-Power, High-Performance General Amplifier" project has a total investment of ¥600.00 million, with ¥309.01 million invested this period, now in mass production stage [195]. - The company aims to enhance its product offerings and market presence through continuous R&D and innovation in high-performance electronic components [198]. Strategic Focus and Compliance - The company is focusing on product research and market expansion to enhance its competitive position in the semiconductor industry [17]. - The company is actively pursuing compliance with various international standards to enhance product quality and marketability [11]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report, assuming legal responsibility for its content [2]. - The company has implemented a comprehensive budget management system to improve operational management and cost efficiency [69]. - The company has strengthened risk management and budget management to ensure stable operational capabilities [49]. - The company aims to strengthen supply chain investments and introduce high-quality suppliers to ensure efficient operations [116]. Market Opportunities - The company is actively pursuing market opportunities for industrial investments and mergers and acquisitions [117]. - The company is focusing on the electric vehicle market, with a projected compound annual growth rate of 129.71% for new energy vehicles from 2020 to 2025 [184]. - The global market for automotive analog chips is expected to nearly double to approximately 31 billion by 2026, driven by the rapid growth of new energy vehicles [185]. - The demand for analog chips in electric vehicles and smart charging stations is expected to grow due to the rise of new energy vehicles [134]. Industry Outlook - The global analog products market is expected to achieve a compound annual growth rate (CAGR) of 7.4% from 2021 to 2026 [95]. - The semiconductor market is projected to grow to $798.9 billion by 2027, driven by new applications such as 5G communication and IoT [95]. - The global MCU market is expected to grow at a compound annual growth rate of approximately 9.43% from 2021 to 2023, with China's MCU market projected to reach ¥31.93 billion in 2023 [127]. - The analog integrated circuit market is expected to benefit from the increasing demand for smart and lightweight control systems in various applications [92]. - The server market is expected to see steady growth due to increasing demand driven by big data, cloud computing, and AI technologies, leading to a rise in the use of analog chips [134].