BRILLIANT(SZ:000628)2023-04-07 16:00Project Development and Construction - The company has signed a total of 93 uncompleted contracts with a cumulative amount of approximately 25.529 billion yuan, providing a reliable profit source for future years[10]. - In 2023, the company will continue to focus on project construction, aiming to establish a localized ultra-thin wafer process research platform and a complete integrated packaging production line[9]. - The company plans to complete the debugging of the integrated packaging line in Q4 2023 and the ultra-thin wafer process platform in Q1 2024[9]. - 98.66% of the new contracts signed by the company during the reporting period were engineering general contracting projects, indicating a strong focus on this business model[11]. - The company aims to enhance project profitability by optimizing front-end design and integrating high-quality resources, which is expected to improve gross margin levels[11]. - The total revenue from engineering general contracting (EPC) projects completed during the reporting period amounted to approximately ¥9.8 billion, with recognized income of about ¥8.0 billion[66]. - The total revenue from construction general contracting projects completed during the reporting period was approximately ¥2.6 billion, with recognized income of about ¥1.8 billion[66]. - The company has 64 completed EPC projects and 59 completed construction general contracting projects during the reporting period[66]. - The company has 68 ongoing EPC projects and 25 ongoing construction general contracting projects, indicating a robust project pipeline[70]. - The company reported a cash collection of approximately ¥6.7 billion from completed EPC projects and about ¥1.3 billion from completed construction projects[66]. Financial Performance and Revenue - The company reported a stable construction industry revenue of approximately 6.191 billion yuan, with a profit increase of 15.98% compared to the previous year[53]. - The gross profit margin in the construction sector improved by 0.82 percentage points year-on-year, while the net profit margin increased by 15.67%[53]. - The total revenue for 2022 was approximately 19.16 billion CNY, with a gross profit of approximately 1.37 billion CNY, resulting in a gross margin of about 7.15%[76]. - The company reported a significant decrease in the cost of risk management business, which dropped to approximately 70.36 million CNY, representing 1.17% of total operating costs, down from 3.20% in 2021[81]. - The company has reported a backlog of completed but unsettled projects amounting to approximately 7.19 billion CNY[76]. - The total sales amount from the top five customers is ¥6,202,354,254.05, accounting for 94.48% of the annual total sales[84]. - The total procurement amount from the top five suppliers is ¥1,184,056,673.91, accounting for 19.70% of the annual total procurement[85]. Semiconductor Business Development - The company is actively seeking strategic cooperation opportunities with end customers to rapidly expand its power semiconductor business[9]. - The company acquired Senwei Technology in 2022, focusing on IGBT technology to establish power semiconductor as a strategic business segment[27]. - The power semiconductor business aims to serve markets such as new energy vehicles, renewable energy generation, and industrial control, leveraging IGBT products for high-value applications[32]. - The company has established a comprehensive product system that includes IGBT devices, detection solutions, and application solutions, targeting various market sectors including industrial frequency conversion and charging stations[32]. - The power semiconductor business generated revenue of CNY 10,229.34 million in 2022, a year-on-year increase of 102.17%[54]. - The gross profit margin for the power semiconductor business was 18.52%[60]. - The company has achieved mass production and sales of 600V-1700V IGBT and 600V-1200V IGBT products, enhancing its market share in industrial control, photovoltaics, energy storage, and new energy vehicles[90]. Research and Development - The company is focused on building a talent pipeline and enhancing organizational capabilities to support its semiconductor business[9]. - Research and development expenses increased by 91.28% to ¥23,533,566.90 compared to ¥12,303,380.29 in the previous year[94]. - The number of R&D personnel increased by 26.98% from 63 in 2021 to 80 in 2022[90]. - The R&D investment as a percentage of operating income rose from 0.19% in 2021 to 0.36% in 2022, an increase of 0.17%[94]. - The company has developed over 10 new products and filed for 8 new patents during the reporting period[55]. Corporate Governance and Compliance - The company will ensure compliance with the latest regulations from the China Securities Regulatory Commission regarding compensation measures and commitments[4]. - The company has pledged to compensate for any losses incurred by the company or investors due to violations of commitments made by its directors and senior management[4]. - The company is committed to adhering to the laws and regulations regarding the behavior of directors and senior management, ensuring no misuse of company assets[4]. - The company has maintained a clear and independent asset ownership structure, ensuring no misuse of company funds by executives or major shareholders[23]. - The company is committed to improving corporate governance and internal control systems to enhance management efficiency and risk prevention capabilities[13]. Management and Organizational Changes - The company experienced a change in management, with the resignation of General Manager Hong Jingtao on September 26, 2022[150]. - The company appointed new independent directors on June 30, 2022, including Gong Min, Zhang Tengwen, and Ma Hua[151]. - The company has undergone several management changes, including the appointment of Mr. He Zhaofeng as the General Manager[173]. - The company has confirmed that all financial reports are accurate and complete, as stated by the responsible executives[160]. - The company has made significant changes in its board composition, with new appointments and resignations throughout 2022[172]. Future Outlook and Strategic Plans - The company aims to enhance its core business profitability and development prospects, addressing the gap to become a high-quality listed company with stable and sustainable profitability[117]. - The company plans to leverage capital markets for refinancing and mergers to support its growth strategy[122]. - The company aims to enhance its core competitiveness in the power semiconductor sector by optimizing product development processes and focusing on new energy applications[132]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[188]. - New product launches are expected to contribute an additional 200 million yuan in revenue in 2023, focusing on innovative semiconductor technologies[188].