BOE(SZ:000725)2022-03-30 16:00Financial Performance - In 2021, BOE Technology Group achieved a revenue of CNY 219.31 billion, a year-on-year increase of 61.79%, and a net profit attributable to shareholders of CNY 25.83 billion, up 412.96% year-on-year[4]. - The company reported a net profit of CNY 10 billion, up 15% compared to the previous year[16]. - The net profit attributable to shareholders in 2021 was CNY 25.83 billion, a significant increase of 412.96% from CNY 5.04 billion in 2020[22]. - The company’s operating revenue for 2021 was CNY 219.31 billion, representing a 61.79% increase compared to CNY 135.55 billion in 2020[22]. - The company reported a total of CNY 2.08 billion in government subsidies for 2021, down from CNY 2.33 billion in 2020[27]. - The company’s revenue from the Americas increased by approximately 130.40% year-on-year, reaching about CNY 23.77 billion[49]. - The company reported a net profit margin of 10.5% for the fiscal year 2021, indicating strong profitability[100]. Research and Development - R&D investment exceeded CNY 10 billion for the first time in 2021, with a year-on-year growth of 31.72%, and the company ranked 11th globally in patent applications[4]. - BOE is investing CNY 5 billion in R&D for new technologies, including MicroLED and AIoT applications[16]. - The company filed over 9,000 new patent applications in 2021, with more than 90% being invention patents, and ranked 11th globally in patent grants[39]. - The company’s R&D investment amounted to ¥12.44 billion in 2021, an increase of 31.72% compared to ¥9.44 billion in 2020[63]. Market Expansion and Strategy - The company plans to expand its production capacity for OLED displays by 30% in the next fiscal year[16]. - Market expansion efforts include entering the European market, targeting a 10% market share by 2025[16]. - BOE aims to become a global leader in both the semiconductor display and IoT innovation fields, with a focus on enhancing its competitive advantages and industry influence[7]. - The company plans to deepen its IoT innovation business by enhancing system design capabilities and expanding strategic customer partnerships[81]. - The company is actively pursuing market expansion and new technology development to drive high-quality growth[82]. Corporate Governance - The company reported a significant improvement in governance structure, ensuring compliance with relevant laws and regulations, enhancing internal control systems, and maintaining effective communication with investors[89]. - The board of directors and supervisory board strictly adhered to legal requirements and company regulations, ensuring the governance structure's effectiveness and compliance[90]. - The company has implemented a digital platform for investor relations, facilitating better communication and transparency with investors[92]. - The company emphasized the protection of minority shareholders' rights by providing convenient access to shareholder meetings, including online voting options[90]. Environmental Responsibility - The company has implemented a comprehensive environmental management system to monitor and improve overall environmental performance[158]. - The company has achieved a 100% disposal rate for hazardous waste, ensuring compliance with environmental regulations[158]. - The company emphasizes the recycling of materials, adhering to the "4R concept" of Reduce, Reuse, Recycle, and Responsibly[158]. - The company has established various management standards for water pollution, air pollution, hazardous waste, and energy management[158]. Shareholder Returns - The board proposed a cash dividend of CNY 2.10 per 10 shares, with a total dividend amount of CNY 7.963 billion, representing 30.83% of the net profit attributable to shareholders[8]. - The company reported a cash dividend of CNY 7,962,687,690.30, with a cash dividend per share of CNY 2.10, based on a total share capital of 37,917,560,430 shares[143]. - The total cash dividend, including other methods, amounted to CNY 10,390,205,600.53, which represents 130.49% of the distributable profit of CNY 11,950,975,927[144]. Operational Efficiency - The company reported a decrease in operational costs by 8% due to improved efficiency measures implemented in 2021[100]. - The company has established a comprehensive internal audit and risk control framework, with the current chief audit officer also serving as the chief risk control officer[120]. - The internal control system was revised and improved to align with the company's digital transformation and innovation requirements, ensuring compliance and efficient business development[150]. Future Outlook - Looking ahead to 2022, BOE will persist in its innovation-driven approach to achieve long-term stable high-quality development amid a complex global economic landscape[9]. - The company has set a performance guidance for 2022, expecting a revenue growth of 15% to 20%[16]. - The company anticipates continued growth in the global display market, projecting a revenue increase of approximately 15% for 2022[130].