TECHSEM(SZ:300046)2022-04-21 16:00Financial Performance - The company's operating revenue for 2021 was CNY 329,009,071.34, a decrease of 15.26% compared to CNY 388,244,929.38 in 2020[20] - The net profit attributable to shareholders for 2021 was CNY 44,087,780.91, representing a 36.73% increase from CNY 32,244,590.70 in 2020[20] - The net cash flow from operating activities decreased by 62.19% to CNY 25,028,853.29 in 2021 from CNY 66,195,285.75 in 2020[20] - The total assets increased by 43.95% to CNY 1,107,347,834.56 at the end of 2021, compared to CNY 769,275,218.09 at the end of 2020[20] - The net assets attributable to shareholders rose by 59.81% to CNY 1,026,771,637.38 at the end of 2021 from CNY 642,478,361.29 at the end of 2020[20] - The basic earnings per share for 2021 was CNY 0.1911, an increase of 26.31% from CNY 0.1513 in 2020[20] - The company reported a total revenue of ¥328,009,071.34 for the year, with a quarterly breakdown of ¥72,639,092.70 in Q1, ¥88,063,422.57 in Q2, ¥102,999,396.93 in Q3, and ¥65,307,159.14 in Q4[23] - The net profit attributable to shareholders was ¥16,329,780.48 in Q1, ¥16,712,440.29 in Q2, and ¥22,778,018.37 in Q3, but showed a loss of ¥11,732,458.23 in Q4, resulting in an annual net profit of ¥44,087,780.91[23] - The company achieved a comprehensive diluted earnings per share of ¥0.1859 for the year[21] - The gross margin for the semiconductor segment was 30.48%, a decrease of 1.64 percentage points compared to the previous year[45] Research and Development - The company has 52 patents, including 9 invention patents, and has participated in drafting 21 national or industry standards, showcasing its strong R&D capabilities[34] - The company is actively tracking and researching third-generation wide bandgap semiconductor materials and devices, such as silicon carbide and gallium nitride[5] - The company reported a significant increase in R&D expenses, totaling approximately 10.96 million in 2021, which is a 21.73% increase from 9.01 million in 2020[54] - The R&D investment as a percentage of operating revenue increased to 4.45% in 2021 from 3.30% in 2020[57] - The number of R&D personnel increased by 3.23% to 64 in 2021, with a notable rise in the proportion of staff under 30 years old[57] - The company has established three provincial-level research platforms and is engaged in ongoing collaborations with academic institutions to advance its technology[34] Market Strategy and Expansion - The company is focusing on expanding the sales and market share of products such as thyristors, rectifiers, IGBTs, and power electronic modules[5] - The company is actively pursuing market expansion opportunities, particularly in the context of domestic import substitution trends in the power semiconductor industry[31] - The company plans to enhance its product offerings in high-power semiconductor devices, with ongoing projects aimed at leading new technologies in this field[55] - The company aims to expand its market presence through the development of new products, including IGBT modules and high-pressure devices, to meet growing industry demands[56] - The company plans to accelerate market structure adjustments by increasing efforts to develop high-end customers in strategic emerging industries, optimizing and expanding its sales network[87] Financial Management and Investments - The company has initiated a private placement project, which may face risks related to macroeconomic conditions and market demand changes[6] - The company completed a non-public stock issuance to specific investors to support technology upgrades and development[40] - The company raised a total of CNY 35,000 million through a private placement of 23,411,371 shares at CNY 14.95 per share, with a net amount of CNY 34,267.92 million after deducting related issuance costs[76] - The company has cumulatively invested CNY 26,499.98 million in the project for upgrading high-power semiconductor devices, achieving a 100% investment progress[77] - The company reported an investment income of ¥4,819,576.86, accounting for 9.68% of total profit, primarily from cash management[63] - The company made a significant investment of ¥22,391,973.12 during the reporting period, a 215.44% increase compared to the previous year[69] Governance and Compliance - The company maintains a strong quality management system, certified under ISO standards, ensuring compliance with international safety and quality requirements[35] - The company has a robust governance structure with clear roles for the shareholders' meeting, board of directors, and supervisory board, ensuring effective decision-making[97] - The company has established an independent financial department with a complete accounting system and independent bank accounts for tax obligations[97] - The company has a history of compliance with regulatory requirements, as evidenced by the absence of significant penalties for its current and recent management[112] - The company has not engaged in any related party transactions that would compromise its independence or create conflicts of interest[98] Risks and Challenges - The company faces risks from market competition and technological advancements, necessitating a focus on R&D and high-end customer development to mitigate these risks[89] - The company faces risks of rising material costs, including silicon wafers, molybdenum sheets, copper materials, and shells, which may lead to a decline in gross profit margins[90] - The company plans to mitigate rising material costs by expanding sales volume, prepaying for materials to lock in prices, and securing supply[90] Employee and Shareholder Relations - The company has implemented a stock incentive plan in 2021 to align the interests of shareholders and the core team, enhancing cohesion[40] - The company has a structured approach to performance evaluation for senior management, linking compensation to company performance and individual contributions[112] - The company has implemented a cash dividend policy, emphasizing the protection of minority investors and ensuring clear standards and proportions for profit distribution[128] - The company reported a total of 237,171,371 shares as the basis for profit distribution, with a cash dividend of 0.00 CNY per 10 shares, resulting in a total cash dividend of 0 CNY[132] Legal Matters - The company is actively pursuing legal action to enforce compensation obligations related to performance commitments from previous years[153] - The company is involved in a lawsuit with Hubei Taiji Semiconductor Co., Ltd. regarding performance compensation and asset impairment, with a claimed amount of 171.56 million CNY[161] - Another lawsuit involves Huayu Daye Cultural Industry Group Co., Ltd. concerning a corporate loan dispute, with a claimed amount of 13.10 million CNY[161]