TFME(SZ:002156)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was ¥21.43 billion, an increase of 35.52% compared to ¥15.81 billion in 2021[15]. - The net profit attributable to shareholders for 2022 was ¥356.60 million, a decrease of 55.21% from ¥796.21 million in 2021[15]. - The basic earnings per share for 2022 was ¥0.37, down 48.61% from ¥0.72 in 2021[15]. - Total assets at the end of 2022 reached ¥35.63 billion, a 31.47% increase from ¥27.10 billion at the end of 2021[15]. - The net assets attributable to shareholders at the end of 2022 were ¥13.83 billion, up 32.48% from ¥10.44 billion at the end of 2021[15]. - In Q4 2022, the operating revenue was ¥6.11 billion, with a net profit attributable to shareholders of ¥25.25 million[18]. - The company reported a cash flow from operating activities of ¥3.20 billion for 2022, an increase of 11.40% compared to ¥2.87 billion in 2021[15]. - The company's net profit attributable to shareholders was 502 million CNY, a decrease of 47.53% year-on-year, primarily due to exchange rate fluctuations resulting in a loss of 211 million CNY[27]. - The company reported a gross margin of 13.58% for the integrated circuit packaging and testing segment, which decreased by 3.39% from the previous year[44]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.97 RMB per 10 shares to all shareholders, based on a total of 1,511,563,863 shares, with no stock bonus[3]. - The company has not reported any changes in its major shareholders, indicating stability in its ownership structure[12]. - The total shares held by the board members at the end of the period is 221,521 shares, with no changes in holdings during the reporting period[117]. - The company provided cash dividends totaling ¥146,621,694.71, which represents 100% of the distributable profit of ¥2,657,413,006.09[146][145]. Market and Industry Outlook - The global semiconductor market size in 2022 was $573.5 billion, growing by 3.2% year-on-year, significantly slowing from 26.2% in 2021[23]. - China remained the largest single semiconductor market in 2022, with total sales of $180.3 billion, a decrease of 6.3% from 2021[23]. - The company anticipates a gradual recovery in the semiconductor industry in 2023, driven by emerging applications such as AI and 5G[22]. - The advanced packaging market is projected to grow from 30.4 billion USD in 2020 to 47.5 billion USD by 2026, with a compound annual growth rate (CAGR) of approximately 7.7%[92]. - The global Chiplet market is expected to reach 57 billion USD by 2035, with a CAGR of 30.16% from 2018 to 2035[92]. Research and Development - The company applied for 165 patents in 2022, with over 60% related to advanced packaging technology, and saw a nearly 40% increase in patent authorizations year-on-year[27]. - The company reported a total R&D investment of ¥1,323,149,838.21 in 2022, an increase of 24.54% compared to ¥1,062,458,724.50 in 2021[57]. - R&D investment accounted for 6.17% of total revenue in 2022, a decrease of 0.55% from 6.72% in 2021[57]. - The company is developing advanced Fan-Out packaging technology for mobile smart terminal products, aiming to enhance domestic equipment and material capabilities[53]. - The company is also working on 5G application packaging and testing technology to improve traceability and efficiency in production processes[53]. Operational Efficiency and Capacity Expansion - The company has established a comprehensive IT service management system and received ISO20000 certification in 2022, enhancing its operational efficiency[34]. - The company’s advanced packaging capacity significantly increased, contributing to a more pronounced scale advantage[33]. - The company plans to enhance its production capacity in the inverter market to meet increasing demand[95]. - The company aims to increase its production capacity by 40% to meet rising demand[106]. Governance and Management - The company has a strong governance structure with all board members present for the report's approval, ensuring accountability[2]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring no conflicts of interest[112][113]. - The company has established a remuneration management system for directors, supervisors, and senior management based on overall business performance and industry salary levels[128]. - The management team emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[125]. Environmental Compliance and Sustainability - The company strictly adheres to multiple environmental protection laws and standards, including the "Environmental Protection Law of the People's Republic of China" and various industry-specific discharge standards[159]. - The total discharge of COD was 365.19 tons, which is below the approved limit of 650.49 tons, indicating compliance with environmental standards[160]. - The company has implemented a comprehensive environmental management system to monitor and control emissions effectively[159]. - The company has a 100% lead-free packaging rate, complying with EU ROHS certification standards, and has been recognized as a national green factory and a green supply chain demonstration enterprise[169]. Risks and Challenges - The company emphasizes the risks associated with industry and market fluctuations, new technology and product development delays, raw material supply and price changes, exchange rate risks, and international trade risks[3]. - The semiconductor industry is characterized by cyclical technological development and market fluctuations, which may impact the company's performance[97]. - The company faces risks related to the inability to industrialize new technologies, processes, and products on time due to the capital investment and equipment acquisition challenges[98]. Strategic Investments and Partnerships - The company completed a private placement in November 2022, raising a total of 2.693 billion yuan, marking it as the only A-share listed company in the semiconductor testing industry to receive joint investment from major funds[40]. - The company has established a close partnership with AMD, positioning itself as a key packaging service provider for high-performance computing chips[93]. - The company is actively developing new products in advanced packaging technologies, including Chiplet, WLP, and 2.5D/3D stacking[92].