联创电子(002036) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥7,531,942,899.28, representing a 23.84% increase compared to ¥6,081,932,971.96 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥164,379,436.57, a decrease of 36.68% from ¥267,330,115.33 in 2019[23]. - The net profit after deducting non-recurring gains and losses was ¥32,242,676.10, down 77.25% from ¥149,483,277.00 in 2019[23]. - The basic earnings per share for 2020 was ¥0.17, a decline of 52.78% compared to ¥0.37 in 2019[26]. - The company achieved a sales revenue of 7.532 billion yuan in 2020, representing a year-on-year growth of 23.84%[67]. - The net profit attributable to the parent company was 164 million yuan, a decrease of 36.68% compared to the previous year[67]. - The company's total revenue for 2020 reached ¥7,531,942,899.28, representing a year-on-year increase of 23.84% compared to ¥6,081,932,971.96 in 2019[85]. - The optical components segment generated revenue of ¥1,564,511,278.59, with a growth of 22.68% from ¥1,275,279,173.33 in the previous year, maintaining a gross margin of 26.98%[85][87]. - The integrated circuit segment saw significant growth, with revenue increasing by 72.27% to ¥2,532,521,813.69 from ¥1,470,117,167.97 in 2019, although it reported a gross margin of 0.00%[85][87]. - The touch display segment's revenue was ¥2,574,623,342.74, which accounted for 34.19% of total revenue, but experienced a decline of 22.08% compared to the previous year[85][87]. Cash Flow and Dividends - The company reported a cash dividend of 0.16 RMB per 10 shares (including tax) for the 2020 profit distribution plan, with a total of 1,304,500 shares in the repurchase account excluded from the calculation[4]. - In 2020, the company distributed cash dividends totaling RMB 16,745,473.65, which accounted for 10.19% of the net profit attributable to ordinary shareholders[179]. - The cash dividend per 10 shares was RMB 0.16 (including tax) for the 2020 fiscal year, with no stock dividends issued[183]. - The total distributable profit for the year was RMB 700,732,103.39, with the cash dividend representing 100% of the profit distribution[179]. - The company did not distribute any cash dividends through share repurchases in 2020[179]. - The company plans to retain undistributed profits for future distribution, without issuing stock dividends or increasing capital from capital reserves[183]. Business Operations and Strategy - The main business of the company has shifted since February 18, 2016, from the production and sales of hemp, lining, and interlining to the research, production, and sales of touch display products and optical components[21]. - The company is engaged in the research, production, and sales of optical lenses and modules for various smart devices, indicating a focus on high-tech manufacturing[35]. - The company has initiated the establishment of an integrated circuit industry fund, highlighting its strategic investment in the semiconductor sector[35]. - The company has established strategic partnerships with major clients like Huawei and Baidu, becoming a key supplier for high-end automotive lenses[36]. - The company is actively exploring the manufacturing of smart terminal products, including smart ordering machines and VR/AR hardware, leveraging its optical and touch display advantages[39]. - The company is focusing on flexible display technology and has validated the processing technology and performance of touch materials for future product development[103]. - The company is implementing a "major customer strategy" to enhance market share and product value in the touch display sector[145]. - The company plans to expand its market share in automotive lenses and accelerate the certification and promotion of high-end smartphone lens products[154]. - The company aims to mitigate risks from raw material procurement by diversifying suppliers and establishing strategic alliances[160]. Research and Development - The company has established various R&D platforms, including a postdoctoral innovation practice base and engineering technology research centers, focusing on optical lens and imaging module advancements[45][46]. - Research and development expenses amounted to 246,382,198.15 yuan, an increase of 12.67% compared to the previous year[97]. - The company applied for 72 invention patents in 2020, including 47 in China and 25 PCT applications[98]. - The company's R&D investment increased by 31.23% year-on-year, reaching approximately CNY 378.09 million in 2020[106]. - The number of R&D personnel rose to 1,106, a 1.56% increase from 2019, representing 13.81% of the total workforce[106]. - The capitalized R&D investment surged by 1,407.38% to approximately CNY 127.81 million, accounting for 33.80% of total R&D investment[106]. Market Position and Growth - The company has been recognized as a key enterprise in the electronic information sector in Jiangxi Province, reflecting its market position[35]. - The optical industry maintains its leading position in high-definition wide-angle lenses, increasing market share in automotive lenses and expanding manufacturing scale for mobile lenses and imaging modules[36]. - The company successfully developed and won bids for 5 next-generation automotive optical products for Tesla, positioning itself as a potential primary supplier for Tesla's automotive lenses[74]. - The shipment of high-definition wide-angle imaging modules increased by 89% year-on-year, indicating a strong growth trajectory in this product line[75]. - The smart terminal industry is expected to benefit from the maturity of technologies such as IoT, 5G, and cloud computing, which will improve production efficiency and transform production modes[146]. - The overall market outlook for the optical lens and imaging module industry remains positive, with China becoming a manufacturing hub for these products[141]. Corporate Governance and Compliance - The company has undergone changes in its controlling shareholders, with the current major shareholders being Jiangxi Xinsen Investment Co., Ltd. and Jinguang International Co., Ltd. since December 11, 2015[21]. - The company did not seek to control the hemp industry during the restructuring process, ensuring independent operations[188]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[190]. - The company engaged Da Hua Accounting Firm for auditing services, with a fee of 1.1 million yuan, maintaining a continuous relationship for six years[199]. Inventory and Production - The inventory level increased to 7,713.01 million pcs, reflecting a 20.68% rise compared to the previous year[88]. - The production volume of optical and optoelectronic components was 42,405.43 million pcs, up by 28.09% year-on-year[88]. - The company has a production capacity of 50 million mobile communication smart terminal devices and 18 million other internet smart terminal devices annually[63]. - The company has established a new production capacity of 30 million units per year for integrated touch display products, with projects in both Chongqing and India progressing as planned despite external challenges[77].