SM Micro(SH:688699)2022-04-14 16:00Financial Performance - In 2021, the company achieved operating revenue of CNY 1.25 billion, a year-on-year increase of 138.21%[22]. - The net profit attributable to shareholders reached CNY 647.24 million, up 492.35% compared to the previous year[22]. - The gross profit margin improved from 33.58% to 65.61%, an increase of 32.03 percentage points[25]. - The basic earnings per share for 2021 were CNY 8.70, a 343.88% increase from the previous year[23]. - The company achieved a total operating revenue of CNY 1,251,202,035.38, representing a year-on-year increase of 138.21%[90]. - The net profit for the period was CNY 647,244,552.19, reflecting a significant increase of 492.35% year-on-year[90]. - Research and development expenses rose to CNY 94,795,915.97, a 153.37% increase compared to the previous year[90]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 23.33 RMB per 10 shares, totaling approximately 173.5 million RMB for the year 2021, representing a cash dividend payout ratio of 26.81%[5]. - As of December 31, 2021, the distributable profit available to shareholders was RMB 952,174,856.91[161]. - The total number of shares held by directors and senior management remained unchanged at 12,172,000 shares, with a total pre-tax remuneration of CNY 1,220.16 million for the reporting period[141]. Research and Development - R&D investment accounted for 7.58% of operating revenue, an increase of 0.46 percentage points from the previous year[23]. - The company has enhanced its packaging and testing capacity, which has improved product delivery capabilities and overall performance[38]. - The company has established long-term strategic partnerships with leading wafer manufacturers to ensure stable capacity supply[36]. - The company has filed for 17 new invention patents and obtained 8 patents during the reporting period, bringing the total to 197 applications and 126 granted patents[65]. - The number of R&D personnel increased by 117.69% year-on-year, reaching 283 by the end of the year[69]. - The company is committed to enhancing its product offerings through continuous innovation in chip design and packaging technology, aiming for higher performance and lower power consumption[75]. Market and Industry Trends - The global semiconductor market reached $555.9 billion, a year-on-year increase of 26.2%[50]. - China's integrated circuit industry sales exceeded 1 trillion yuan for the first time in 2021, totaling 1,045.83 billion yuan, with a growth rate of 18.2%[51]. - The Mini/Micro LED market is projected to reach $1 billion in 2023, with the MicroLED market expected to reach $2.891 billion by 2025[59]. - The company anticipates continued growth in the semiconductor market, driven by increasing demand and capacity expansion[121]. Corporate Governance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[5]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has established a comprehensive training system to enhance talent development and ensure the R&D team is responsive to industry technology trends and market demands[159]. - The company maintains a strong governance structure to protect investor rights and ensure compliance with regulatory requirements[167]. Operational Risks and Challenges - The company faces risks related to technology upgrades and innovation, which are critical for maintaining competitive advantage in the fast-evolving integrated circuit design industry[82]. - The ongoing global pandemic and trade tensions may impact market order demand and overall economic development, posing additional risks to the company[87]. - The global wafer supply remains tight, and any price increases in wafer procurement could adversely affect the company's operating performance[87]. Environmental and Social Responsibility - The company promotes low-carbon and sustainable development practices, including paperless office initiatives and energy-saving activities[172]. - The company has implemented measures for waste gas, wastewater, noise, and solid waste treatment to comply with national environmental standards[169]. - The company actively fulfills tax obligations and contributes to national fiscal revenue while promoting green and energy-saving product goals[181]. Future Strategies - The company plans to enhance its internal management and supply chain to improve market competitiveness and risk resilience[88]. - Future strategies include optimizing company strategy and adjusting development approaches in response to macroeconomic risks[88]. - The company intends to expand its product line in power management, targeting applications in home appliances, automotive electronics, and chargers[130].