银河微电(688689) - 2020 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of ¥610,235,005.07 in 2020, representing a year-on-year increase of 15.60%[22] - Net profit attributable to shareholders reached ¥69,538,921.58, up 31.89% compared to the previous year[22] - The net profit after deducting non-recurring gains and losses was ¥57,125,303.17, reflecting a 15.15% increase year-on-year[22] - Total assets at the end of 2020 amounted to ¥809,105,481.52, an increase of 15.68% from the beginning of the year[22] - Shareholders' equity attributable to the parent company was ¥576,207,759.20, up 13.88% from the previous year[22] - Basic earnings per share for 2020 were ¥0.72, a 28.57% increase from ¥0.56 in 2019[21] - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately ¥105.29 million, ¥158.08 million, ¥166.95 million, and ¥179.92 million respectively, showing a steady increase throughout the year[24] - The net profit attributable to shareholders for the same quarters was ¥8.06 million, ¥22.65 million, ¥18.90 million, and ¥19.94 million, indicating a significant growth in Q2[24] - The company achieved an annual revenue of 610.24 million yuan, representing a year-on-year increase of 15.60%[66] - The net profit attributable to the parent company was 69.54 million yuan, a year-on-year growth of 31.89%[66] Dividend Policy - The company plans to distribute a cash dividend of RMB 2.5 per 10 shares, totaling approximately RMB 32.1 million, which represents 46.16% of the net profit attributable to shareholders for 2020[5] - The cash dividend for 2020 was the first since 2019, which had no cash distribution[116] - The cash dividend policy stipulates that at least 10% of the annual distributable profit will be distributed as cash dividends, provided certain conditions are met[112] - The company will prioritize cash dividends and may consider stock dividends if the operational conditions are favorable and align with shareholder interests[113] - The company’s profit distribution plan is subject to approval at the annual general meeting of shareholders[115] Research and Development - The company's R&D expenditure as a percentage of operating revenue was 5.79%, a decrease of 0.31 percentage points from the previous year[21] - The company invested a total of CNY 35.36 million in R&D, accounting for 5.79% of its revenue, which is a decrease of 0.31% compared to the previous year[49][51] - During the reporting period, the company applied for 22 patents and received 18 patent grants, bringing the total number of valid patents to 186, including 24 invention patents[50] - The company has developed a series of core technologies in multi-category device design and chip manufacturing, establishing a strong capability for customized product development[38] - The company has initiated small-scale production of GSC series 650V/1200V SiC Schottky products and is advancing the implementation of Clip technology for power MOS devices, enhancing power density and thermal performance[40] Market Position and Strategy - The company focuses on semiconductor discrete devices, aiming to be a specialized supplier in this field and a quality manufacturer in the electronic device packaging and testing industry[31] - The semiconductor industry, where the company operates, maintains a market share of 18%-20% for discrete devices, indicating a stable demand[34] - The company has invested significantly in technology innovation and advanced equipment to compete in the mid-to-high-end market segments[34] - The marketing strategy emphasizes direct sales and one-stop service, supported by a strong technical service team to meet customer needs[32] - The company plans to continue its focus on technological innovation and resource integration to support sustainable business growth[33] Corporate Governance - The company has received a standard unqualified audit report from its accounting firm, indicating the financial statements are accurate and complete[8] - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[4] - The company has not reported any governance special arrangements or significant matters[8] - The company is committed to improving its governance structure and internal management processes to ensure compliance with legal regulations and enhance operational efficiency[104] - The company emphasizes the protection of shareholder rights and has established a robust corporate governance structure to ensure effective checks and balances among decision-making bodies[149] Risks and Challenges - The company disclosed potential risks related to forward-looking statements, cautioning investors about uncertainties[6] - The company faced risks related to raw material price fluctuations, which accounted for over 60% of its costs, potentially impacting profit margins[71] - The company relies on external sourcing for a significant portion of its chips, which poses risks to production if supply is disrupted[71] - The company is at risk of market competition intensifying due to the rapid growth of the domestic semiconductor market, which may attract more competitors[74] - The company faces risks from international competitors like Infineon and ON Semiconductor, which dominate the high-end semiconductor market[73] Sustainability and Social Responsibility - The company has established a harmful substance management system and implemented an energy management system, achieving notable results in sustainability efforts[68] - The company actively participates in social responsibility initiatives, including contributions to COVID-19 relief efforts[154] - The company has been rated as a "green enterprise" by the Jiangsu Provincial Environmental Protection Department[155] - Wastewater is treated through a "rainwater and sewage diversion" model, ensuring compliance with municipal sewage treatment standards before discharge[155] - The company employs a classification system for waste gas collection and treatment, with emissions meeting standards before being released through high chimneys of 15 to 25 meters[156] Employee and Management Information - The number of R&D personnel increased to 150, representing 13.27% of the total workforce, up from 12.66% in the previous period[56] - The average salary of R&D personnel rose to ¥12.01 million, compared to ¥11.79 million in the previous period[56] - The total pre-tax compensation for the board members and key personnel during the reporting period amounted to 604.12 million CNY[177] - The company has established a fair and competitive performance incentive evaluation system, providing annual performance bonuses based on employee performance and company results in 2020[187] - The company has continuously improved its internal training system, providing diverse training for various employee levels to enhance overall quality[188] Audit and Financial Reporting - The company has not reported any non-standard audit opinions from its accounting firm[141] - The audit report confirms that the financial statements of Galaxy Century Microelectronics Co., Ltd. fairly reflect its financial position as of December 31, 2020, and its operating results for the year 2020[200] - The audit opinion states that the financial statements were prepared in accordance with the accounting standards for enterprises[200] - The report includes the consolidated and parent company balance sheets, income statements, cash flow statements, and changes in owners' equity for the year 2020[200] - The financial statements provide a comprehensive view of the company's financial status and cash flows for the year ended December 31, 2020[200]