Dongguan Aohai Technology (SZ:002993)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was CNY 4,245,275,728.60, representing a 44.14% increase compared to CNY 2,945,202,862.22 in 2020[30]. - The net profit attributable to shareholders for 2021 was CNY 343,509,318.85, a 4.40% increase from CNY 329,037,523.28 in 2020[30]. - The net cash flow from operating activities decreased by 44.36% to CNY 357,035,941.41 in 2021 from CNY 641,658,470.33 in 2020[30]. - The company's total assets increased by 20.53% to CNY 5,059,069,805.68 at the end of 2021, up from CNY 4,197,474,210.82 at the end of 2020[30]. - The net assets attributable to shareholders increased by 12.69% to CNY 2,497,510,695.35 at the end of 2021 from CNY 2,216,171,184.66 at the end of 2020[30]. - The company reported a decrease in basic and diluted earnings per share to CNY 1.46 in 2021, down 13.10% from CNY 1.68 in 2020[30]. - The company achieved a revenue of 4,245.28 million yuan in 2021, representing a growth of 44.14% compared to the previous year[92]. - The net profit attributable to shareholders reached 343.51 million yuan, an increase of 4.40% year-on-year[92]. - Charger and adapter sales accounted for ¥3,912,664,316.50, which is 92.17% of total revenue, with a year-on-year growth of 40.45%[109]. - Domestic sales contributed ¥3,233,175,539.64, making up 76.16% of total revenue, with a year-on-year increase of 52.71%[108]. Market Expansion and Product Development - The company plans to expand its product offerings and applications in the portable energy market, which is expected to grow significantly[44]. - The company is actively expanding its business in wireless chargers, PC, IoT smart terminals, and power tools, enhancing its market share in the power supply sector[60]. - The company is focusing on the development of high-power fast charging technology, with major brands pushing for charging power to exceed 100W[45]. - The company has established stable business partnerships with international brands such as Amazon, Google, and Bestbuy, enhancing its global market presence[191]. - The company is focusing on expanding its product lines to include power supplies for PCs, power tools, and data centers, leveraging its existing technology and market experience[193]. - The company is actively developing high-power chargers over 100W and GaN chargers, aiming to increase market share in the fast-charging segment[197]. - The company plans to enhance its production capacity for high-power fast chargers, with a focus on developing 68W, 80W, 100W, 120W, 140W, and 160W chargers based on customer needs[192]. - The company has plans for market expansion and new product development in the wearable smart devices and smart home consumer devices sectors[157]. Research and Development - The company has a strategic focus on R&D, with ongoing collaborations with universities to advance power technology[79]. - R&D expenses reached 206 million RMB, a year-on-year increase of 43.38%, accounting for 4.84% of total revenue[93]. - The company has obtained 35 patents and 11 software copyrights in the wireless charger field, indicating a strong commitment to innovation and product development[64]. - The company holds a total of 379 patents, including 26 invention patents and 226 utility model patents[79]. - The company has developed core technologies that allow for a 20% reduction in transformer size, enhancing product competitiveness[93]. - The company is investing in research and development for wireless charging technology, aiming to improve power levels and efficiency[197]. - The company has established a digital simulation design platform and formed specialized R&D teams to drive innovation[93]. - The company has implemented a risk management system to assess and control credit risk and operational risk related to derivative investments[170]. Cash Flow and Investments - Operating cash inflow totaled CNY 4,423,011,129.85, an increase of 44.00% compared to CNY 3,071,437,530.14 in 2020[131]. - Investment cash inflow surged by 402.14% to CNY 5,316,921,782.74 from CNY 1,058,855,920.04 in 2020[132]. - Net cash flow from investing activities was negative at CNY -537,738,393.23, worsening by 99.60% from CNY -269,412,437.86 in 2020[132]. - The company reported a fair value change gain of ¥1,428,460.80 in financial assets during the reporting period[144]. - The company has a total of ¥11,186,433.40 in financial assets at the end of the reporting period[144]. - The company reported a fair value change gain of RMB 39,579,090 from derivative investments during the reporting period[170]. - The company has approved the use of up to CNY 720 million of idle raised funds for cash management, with CNY 200 million still not due as of December 31, 2021[176]. Strategic Acquisitions and Partnerships - The company has acquired 82% of Suling Communication to strengthen its position in the wireless charger market, with products like high-speed rail wireless chargers already in mass production[72]. - The company has acquired 35% of Zhixin Control to expand its business in the new energy vehicle sector, enhancing its competitive capabilities in this field[73]. - The company made a strategic acquisition of 82% in Suoling Communication for ¥14,650,000, which has been completed[149]. - The company has established long-term stable partnerships with major clients in the mobile charger sector, including Xiaomi, Huawei, and OPPO, which enhances its market share as smartphone brand concentration increases[61]. Production and Manufacturing - The production capacity exceeded 220 million units in 2021, supported by four manufacturing bases in Dongguan, Jiangxi, India, and Indonesia[83]. - The average pass rate of products from the manufacturing bases reached over 99.5% in 2021[89]. - The company has implemented a lean production model to improve manufacturing efficiency and reduce production cycle times[83]. - The company has completed the development of mainstream data power supplies of 550W and 800W, with 1300W and 3600W models under development, anticipating significant growth in 2022[68]. Market Trends and Projections - The global smartphone shipment is expected to reach 1.4 billion units in 2022, with the wired charger market projected to reach $11.431 billion[51]. - The global GaN charger market is anticipated to grow at a compound annual growth rate (CAGR) of over 90% from 2020 to 2025, exceeding 60 billion yuan by 2025[51]. - The global wireless charging market is expected to grow from $4.5 billion in 2021 to $13.4 billion by 2026, with a CAGR of 24.6%[52]. - The global PC market's total shipment reached 499 million units in 2021, growing by 8.9% from 2020, with a projected CAGR of 3.5% from 2021 to 2025[52]. - The global wearable device shipment reached 533.6 million units in 2021, a year-on-year increase of 20%, with expectations to reach 800 million units by 2025[53]. - Global sales of new energy vehicles reached nearly 6.5 million units in 2021, a 108% increase from 2020, with expectations to reach 10 million units in 2022[57].