OPT(688686)2022-03-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥875,052,964.66, representing a year-on-year increase of 36.21% due to high demand in the new energy sector and expansion in the 3C electronics industry [23]. - Net profit attributable to shareholders for 2021 was ¥302,864,741.10, a year-on-year increase of 24.04, driven by revenue growth and increased financial income [23]. - The net cash flow from operating activities increased by 80.63% year-on-year, amounting to ¥173,008,609.08, attributed to improved collection policies and recovery of accounts receivable [23]. - Basic and diluted earnings per share decreased by 6.97% to ¥3.6722, while the weighted average return on equity dropped by 24.79% to 12.64% due to an increase in share capital [23]. - The total assets at the end of 2021 were ¥2,701,521,819.33, reflecting an 11.25% increase compared to the previous year [23]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥261,512,614.90, a 13.19% increase year-on-year, primarily driven by sales revenue growth [23]. - The company reported a non-recurring profit of 41.35 million RMB, compared to 13.13 million RMB in the previous year [34]. - The company's operating revenue for the reporting period increased by 36.21% year-on-year, reaching approximately ¥875.05 million, while operating costs rose by 75.04% [112]. - The net profit attributable to shareholders increased by 24.04% year-on-year, primarily due to revenue growth, increased financial investment income, and government subsidies [105]. - The company's gross profit margin is under pressure due to a higher proportion of lower-margin revenue from the new energy sector, which has affected overall profitability [105]. Research and Development - Research and development expenses accounted for 15.67% of operating revenue, up from 11.90% in the previous year, indicating a strategic focus on innovation [26]. - Research and development investment reached 137.106 million CNY, marking a 79.36% year-over-year increase, with the R&D personnel count rising by 30.24% to 715 [40]. - The company has 24 ongoing research projects, with 18 completed, 3 in research phase, and 3 in trial production phase, focusing on enhancing speed and precision for various application scenarios [40]. - The company obtained 9 invention patents, 64 utility model patents, and 6 design patents during the reporting period, bringing the total to 30 invention patents and 200 utility model patents [40]. - The company is focusing on enhancing its core technologies, including deep learning and 3D processing, to strengthen its competitive advantage in the machine vision market [57]. - R&D investment over the past three years was 58.18 million, 76.44 million, and 137.11 million, representing 11.09%, 11.90%, and 15.67% of revenue respectively [83]. - The company has established a comprehensive product system in machine vision, covering key components such as light sources, lenses, and vision control systems [87]. Market and Industry Trends - The Chinese machine vision industry scale grew from CNY 101.80 billion in 2018 to CNY 144.20 billion in 2020, with a compound annual growth rate (CAGR) of 19.02% [52]. - The market size is projected to increase from CNY 180.70 billion in 2021 to CNY 296.00 billion in 2023, achieving a CAGR of 28.0% [52]. - The company is actively expanding its overseas market presence in the semiconductor and automotive industries, contributing to notable revenue growth [40]. - The penetration of machine vision technology is expected to increase as automation and intelligent manufacturing in China advance, expanding its application across more industries [53]. - The machine vision market is anticipated to benefit from the "Made in China 2025" strategy, promoting deeper integration into existing manufacturing processes [53]. - The company aims to expand its market presence in the semiconductor and automotive sectors while consolidating its position in the 3C electronics and rapidly growing new energy markets [146]. - The Chinese machine vision market is projected to grow from CNY 18.07 billion in 2021 to CNY 29.6 billion by 2023, with a compound annual growth rate of 28.0% [146]. Corporate Governance and Management - The company has not achieved profitability since its listing [4]. - The company has detailed various risks and countermeasures in its annual report, particularly in the "Management Discussion and Analysis" section [4]. - The company does not have any special arrangements for corporate governance [7]. - The company has not violated decision-making procedures for external guarantees [8]. - The company is committed to improving its corporate governance structure in compliance with relevant laws and regulations, enhancing decision-making and risk prevention mechanisms [156]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 550,800,000 CNY [168]. - The company has a remuneration and assessment committee that reviews and approves the remuneration of directors, supervisors, and senior management [176]. Risks and Challenges - The company has faced risks related to technological obsolescence and the need to keep pace with industry advancements to maintain its competitive edge [92]. - The company is facing risks related to the loss of key technical personnel, which could impact its R&D and innovation capabilities [94]. - The company has multiple new products in the planning or development stages, but there are risks associated with R&D failures and market competition [99]. - The company’s management faces challenges in adapting to the expanded scale of operations, which could affect future profitability if not addressed [95]. - The company is exposed to macroeconomic risks, including trade tensions that could affect its export business and operational costs [102]. Employee and Talent Management - The total number of employees in the parent company is 1,641, and the total number of employees including major subsidiaries is 1,825 [194]. - The company has a total of 743 sales personnel and 715 technical personnel, indicating a strong focus on sales and technology [194]. - The company emphasizes employee training, providing various training programs, including onboarding and management training, to enhance skills and career development [198]. - The establishment of a school-enterprise cooperation division aims to address the shortage of skilled talent in the machine vision field, with plans to develop six related courses [199].