AWINIC(SH:688798)2022-07-28 16:00Financial Performance - The company's revenue for 2021 reached ¥2,327,001,356.81, representing a 61.86% increase compared to ¥1,437,663,669.46 in 2020[33]. - The net profit attributable to shareholders of the listed company increased by 183.56% to approximately ¥288.35 million in 2021[36]. - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 175.04% to about ¥246.73 million[36]. - Operating cash flow increased by 43.29% to approximately ¥286.48 million, driven by revenue and net profit growth[36]. - Basic earnings per share grew by 154.88% to ¥2.09, while diluted earnings per share also increased by the same percentage[36]. - The company's total assets reached approximately ¥4.45 billion, reflecting a 322.75% increase compared to the end of 2020[36]. - The company achieved operating revenue of RMB 232,700.14 million, a year-on-year increase of 61.86%[50]. - Net profit attributable to the parent company reached RMB 28,834.91 million, up 183.56% year-on-year; after excluding share-based payment expenses, net profit was RMB 32,165.98 million, a growth of 216.32%[50]. - The company reported a total revenue of 84,069.22 million RMB for the year, with a significant increase from the previous year's revenue of 38,625.22 million RMB, representing a growth of approximately 118%[146]. Research and Development - The company has a strong emphasis on research and development of new technologies and products, particularly in the fields of audio power amplifiers and mixed-signal chips[24]. - Research and development expenses accounted for 17.91% of operating revenue, an increase of 3.62 percentage points from the previous year[36]. - The company achieved a total R&D investment of ¥205,378,537.63, representing a year-on-year increase of 102.91%[134]. - R&D investment accounted for 14.29% of total revenue, an increase of 3.62 percentage points compared to the previous year[134]. - The company applied for 234 new patents during the year, with 188 patents granted, bringing the total to 1,269 applications and 839 grants[133]. - The company has accumulated 306 patents, including 133 invention patents, and registered 524 integrated circuit layout design rights in China[53]. - The company is focused on expanding its product lines to meet domestic substitution demands, enhancing its market presence[150]. - The company is actively engaged in the development of new technologies and products, with several in the design and verification stages, indicating a robust pipeline for future growth[144]. Market Position and Strategy - The company operates in the integrated circuit sector, focusing on various chip types including RF front-end chips, low-noise amplifiers, and power management chips[24]. - The company is expanding its market presence, particularly in the Internet of Things (IoT) sector, which is a dynamic global network infrastructure[24]. - The company has established itself as a key supplier of mixed-signal, analog, and RF chips in the domestic smartphone market, serving well-known brands such as Samsung, Xiaomi, and OPPO[57]. - The company has a competitive edge in the mixed-signal, analog, and RF chip sectors, actively expanding its product offerings to meet the demand for domestic alternatives in new smart hardware[152]. - The company aims to enhance its competitive edge through continuous innovation in technology and product development[118]. - Future growth strategies include expanding product categories and enhancing market presence in IoT, industrial, and automotive sectors[60]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Accounting Firm[7]. - The company has confirmed that all board members attended the board meeting[7]. - The company has not faced any violations of decision-making procedures regarding external guarantees[12]. - The company has stated that there are no special arrangements for corporate governance[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[12]. Risks and Challenges - The company has detailed various potential risks in the "Management Discussion and Analysis" section of the report[6]. - The company faces risks related to technology iteration, with a typical product iteration cycle of around 12 months, necessitating continuous innovation to maintain competitiveness[155]. - The company is exposed to market competition risks, with increasing numbers of entrants in the integrated circuit industry, necessitating timely innovation to maintain market position[156]. - The ongoing COVID-19 pandemic may continue to affect the company's operations and the industry supply chain[167]. - The semiconductor industry faces risks of rising wafer and testing prices due to increased demand, which may adversely affect the company's operating performance[163]. Product Development and Innovation - The company launched over 200 new product models, bringing the total to approximately 800 models, with product sales reaching about 4.3 billion units in 2021[50]. - The company is focusing on the development of tuner products and low-power RF switches, aiming to meet the growing demand for RF front-end chips in the 5G era[122]. - The company has developed a comprehensive product series in the audio power amplifier chip sector, with approximately 800 product models covering various applications in new smart hardware, particularly smartphones[152]. - The company has developed a fast-charging technology for wearable devices, achieving a maximum charging current of 0.5A and a 120W fast charging solution[10]. - The company has integrated LNA, filters, and RF switches into a multifunctional module, successfully entering mass production[10]. Financial Management - The company maintained a gross margin of 40.41% across its integrated circuit design business, an increase of 7.84 percentage points year-on-year[170]. - The company's inventory value at the end of the reporting period was 481.56 million yuan, an increase of 27.19% compared to the previous year, with a provision for inventory depreciation of 27.99 million yuan[162]. - The company reported foreign exchange gains of 0.77 million yuan and other comprehensive income from foreign currency translation differences of 23.33 million yuan during the reporting period[162]. - The financing activities generated a net cash inflow of RMB 2,949,128,671.66, mainly from the proceeds of the initial public offering[171]. - The company experienced a net cash outflow from investment activities of -1,476,198,120.48 RMB, primarily due to investments in structured deposits and financial products[196].