中颖电子(300327) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 1,493,907,714.17, representing a 47.58% increase compared to CNY 1,012,256,028.41 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 370,653,382.07, an increase of 77.00% from CNY 209,410,723.54 in 2020[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 361,084,581.08, up 88.39% from CNY 191,668,768.88 in 2020[24]. - The basic earnings per share for 2021 was CNY 1.2011, a 76.22% increase from CNY 0.6816 in 2020[24]. - The total assets at the end of 2021 were CNY 1,705,303,266.50, reflecting a 29.21% increase from CNY 1,319,828,859.74 at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,313,100,092.30, a 23.92% increase from CNY 1,059,630,831.72 at the end of 2020[24]. - The company reported a significant decrease in net cash flow from operating activities, which was CNY 3,305,230.26, down 98.47% from CNY 215,727,046.65 in 2020[24]. - The weighted average return on net assets for 2021 was 30.32%, an increase from 21.08% in 2020[24]. Revenue Breakdown - Total revenue for the year reached 1,573,907,714.17 CNY, with a quarterly breakdown of 306,420,074.89 CNY in Q1, 379,638,264.58 CNY in Q2, 407,510,803.67 CNY in Q3, and 400,338,571.03 CNY in Q4[25]. - Net profit attributable to shareholders for the year was 370,653,401.07 CNY, with quarterly figures of 67,582,452.98 CNY in Q1, 85,222,078.76 CNY in Q2, 115,225,400.45 CNY in Q3, and 102,623,449.88 CNY in Q4[25]. - The net profit after deducting non-recurring gains and losses for the year was 361,054,581.08 CNY, with quarterly amounts of 58,422,269.78 CNY in Q1, 84,621,066.65 CNY in Q2, 115,330,225.45 CNY in Q3, and 102,711,019.20 CNY in Q4[25]. Market and Product Development - The Chinese integrated circuit industry sales reached 1,045.8 billion CNY in 2021, representing a year-on-year growth of 18.2%[39]. - The global MCU market size is projected to be 21.5 billion USD in 2022, with the company holding nearly 1% of the global MCU sales[40]. - The company achieved significant growth in lithium battery management chips, particularly in domestic leading smartphone brands, with expectations for continued high growth in the future[41]. - The company has successfully launched a new AMOLED display driver chip for FHD+ specifications, which has been adopted by multiple panel manufacturers, resulting in substantial sales growth[41]. - The company anticipates an increase in market share in the white goods MCU sector due to the ongoing trend of domestic manufacturers replacing imported chips[41]. - The company has strategically shifted focus away from low-margin products to enhance profitability in the face of rising competition in the small appliance sector[41]. - The company achieved a revenue of 1.494 billion CNY, a year-on-year increase of 47.6%, and a net profit of 371 million CNY, a significant year-on-year growth of 77%[51]. - The sales of AMOLED display driver chips grew several times year-on-year, while lithium battery management chip sales more than doubled[51]. - The company is actively developing 55nm and 40nm products to meet the increasing demand for smart and high-end appliances, with the first 55nm product already promoted to clients[44]. - The company maintains a leading position in the domestic market for electric bicycle controllers, with a new generation product launched that offers greater resources and price competitiveness[46]. - The company is focused on securing long-term upstream capacity by maintaining stable partnerships with wafer foundries and increasing product prices to cope with rising costs[57]. Research and Development - R&D investment increased by 53.02% year-on-year, reaching 264 million yuan, accounting for 17.70% of revenue[68]. - The company is developing several new chips, including a high-interference-resistant touch microcontroller chip and a lithium battery secondary protection chip, aimed at enhancing product competitiveness[100]. - The AMOLED display driver chips are expected to generate annual revenues of approximately 20 million CNY and 65 million CNY over the next two years upon mass production[103]. - The company is focusing on expanding its product lines in the lithium battery protection sector, which is anticipated to enhance market competitiveness and product offerings[103]. - The number of R&D personnel increased by 21.91% from 283 in 2020 to 345 in 2021, with R&D personnel now accounting for 81.75% of the total workforce[103]. - R&D personnel with a master's degree increased by 25.64% to 147[106]. - The company has accumulated a total of 110 valid patents, with 109 being invention patents, showcasing its strong innovation capabilities[76]. - The company obtained 13 new invention patents during the reporting period, further solidifying its position in technology innovation[76]. Corporate Governance - The company maintained compliance with corporate governance standards, ensuring that all shareholder meetings were conducted according to legal requirements[146]. - The company has established a robust internal management and control system to enhance governance practices[146]. - The company provided ample time for shareholders to express their opinions during meetings, ensuring equal rights for all shareholders[146]. - The company engaged professional lawyers to witness shareholder meetings, ensuring compliance with legal procedures[146]. - The company has not received any administrative regulatory measures from supervisory authorities as of the end of the reporting period[146]. - The company’s governance structure aligns with the requirements of the Corporate Governance Code and relevant regulations[146]. - The company has actively improved its governance level through ongoing governance activities[146]. - The company has created convenient conditions for shareholders to participate in meetings[146]. - The company’s investor relations activities are documented and accessible through official channels[139]. - The company held two shareholder meetings during the reporting period, both convened by the board of directors[147]. - The board consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[148]. - The supervisory board has 3 members, including 1 employee representative, meeting legal and regulatory standards[149]. - The company established a performance evaluation and incentive mechanism linking the performance of directors, supervisors, and senior management to their compensation[152]. - The company issued 139 announcements and received 374 inquiries from 117 users on the interactive platform, achieving a response rate of 98.4%[155]. Employee and Management Structure - The company had a total of 422 employees at the end of the reporting period, with 150 holding master's degrees and 3 holding doctoral degrees[199]. - The company has a total of 6 senior management personnel as of the report date[175]. - The company has been expanding its management team with experienced professionals from various sectors[176]. - The company has independent directors with diverse backgrounds, including finance and accounting expertise[177]. - The remuneration for independent directors was set at 5,000 yuan each for the reporting period[181]. - The company has a structured remuneration decision-making process based on performance and responsibilities[180]. - The company continues to adhere to the principles of "fairness, justice, and openness" in its compensation policy[200]. - The company has improved its fair and sound performance appraisal system to ensure internal equity and external competitiveness of employee compensation[200]. - Different performance management methods are established for various positions to effectively motivate employees[200]. - The company's performance is closely linked to employee interests, allowing all employees to fully enjoy the benefits of the company's development[200].