长信科技(300088) - 2021 Q4 - 年度财报

Financial Performance - The company reported a total revenue of 2,454,887,088 RMB for the year, with a cash dividend of 0.50 RMB per 10 shares distributed to all shareholders[10]. - The company's operating revenue for 2021 was CNY 7,018,425,454.73, representing a year-over-year increase of 2.55% compared to CNY 6,843,956,121.41 in 2020[27]. - The net profit attributable to shareholders for 2021 was CNY 904,239,101.53, an increase of 8.39% from CNY 834,231,659.93 in 2020[27]. - The net cash flow from operating activities decreased by 29.12% to CNY 1,143,973,609.29 from CNY 1,613,905,053.12 in the previous year[27]. - The total assets at the end of 2021 were CNY 11,562,721,404.72, reflecting a growth of 16.91% from CNY 9,889,974,875.69 at the end of 2020[27]. - The basic earnings per share for 2021 was CNY 0.37, up 8.82% from CNY 0.34 in 2020[27]. - The company reported a total of CNY 86,000,413.40 in government subsidies recognized in 2021, compared to CNY 61,657,914.36 in 2020[33]. - The fourth quarter revenue reached CNY 1,936,163,878.97, contributing significantly to the annual performance[30]. - The company’s weighted average return on equity for 2021 was 12.29%, slightly down from 12.58% in 2020[27]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 838,189,918.79, an increase of 8.12% from CNY 775,263,594.78 in 2020[27]. Market Position and Strategy - The company is focused on technological innovation and product upgrades to maintain competitiveness in the rapidly evolving touch display industry[7]. - The company plans to continue expanding its market presence and product offerings to enhance its competitive edge in the industry[10]. - The company has established a leading position in the automotive electronics, ultra-thin LCD panel, ultra-thin glass cover (UTG), and consumer electronics sectors, further consolidating its market share[41]. - In the automotive electronics segment, the company covers over 70% of global vehicle brands, providing key components such as vehicle sensors and display modules[44]. - The ultra-thin LCD panel business has achieved the highest market share in China, recognized by major clients like Sharp, LGD, and BOE[45]. - The ultra-thin glass cover (UTG) segment has completed the entire technical and production capability for mass production, with significant partnerships established with major smartphone brands[46]. - The company has developed a new form of glass coating cover and SUS glass backing, enhancing its offerings in the foldable device market[46]. - The automotive industry is shifting from supply-driven to consumer demand-driven, with a significant increase in the adoption of large-screen displays in vehicles, reaching over 74.6% for new models[41]. - The company is actively developing domestic flexible OLED wearable clients to ensure the sustainability and profitability of its flexible OLED business[50]. - The company has established Changxin Display in Wuhu to increase investment in high-end NB and PAD module businesses, collaborating with top electronic clients like Lenovo, ASUS, Huawei, DELL, and HP[50]. Research and Development - The company maintains a strong focus on R&D, investing in advanced technologies such as Mini-LED and Micro-LED modules to solidify its industry leadership[63]. - The company has launched a series of leading technologies and products in automotive electronics, display panel thinning, UTG, and consumer electronics, with a total of 452 authorized patents, including 33 invention patents[51]. - The company has completed the development of AR anti-reflective film for automotive products, enhancing its core competitiveness in the automotive display market[84]. - Ongoing R&D projects include ultra-thin glass technology aiming for a thickness of 0.030-0.080mm, which is expected to strengthen the company's position in high-end display materials[81]. - The company is developing integrated technology for large-size dynamic touch displays for vehicles, targeting a significant market demand[81]. - The company has successfully developed automotive electronic products, including car-mounted colorful display technology, and has achieved mass production of 3D curved covers for automotive displays[180]. Risk Management - The company emphasized the importance of managing accounts receivable, which has historically been high, and implemented measures to reduce risks associated with it[7]. - The company faces risks related to fluctuations in raw material prices, which could impact operational performance, and is working to establish strategic partnerships with key suppliers[10]. - The company is actively analyzing international market conditions and currency fluctuations to mitigate foreign exchange risks[7]. - The company acknowledges macroeconomic risks, including the ongoing impact of the COVID-19 pandemic and geopolitical uncertainties on global trade[5]. - The company is focusing on enhancing its R&D capabilities to capture new product and technology opportunities, aiming to maintain its technological leadership in the industry[184]. - The company maintains a robust operational strategy, emphasizing risk awareness and management of various risk indicators in production and operations[187]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation and management[196]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with governance requirements[196]. - The company has conducted annual and temporary shareholder meetings, ensuring equal treatment and participation of all shareholders[196]. - The company has established a comprehensive internal control system to ensure the normal operation of business activities, continuously improving governance levels[200]. - The board of directors has set up four specialized committees, including the audit committee, to oversee various aspects of the company's operations and ensure compliance with regulations[197]. - The company has implemented a performance evaluation and incentive mechanism for senior management, combining basic annual salary with year-end performance assessments[199].