STI(SZ:300416)2022-03-30 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,501,641,337.46, representing a 26.74% increase compared to ¥1,184,844,311.63 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥190,030,913.05, a 53.98% increase from ¥123,411,572.68 in 2020[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥168,620,203.74, up 66.64% from ¥101,186,768.09 in 2020[28]. - The company's total assets at the end of 2021 reached ¥3,771,306,061.50, a 46.22% increase from ¥2,579,225,253.96 at the end of 2020[28]. - The basic earnings per share for 2021 was ¥0.72, reflecting a 53.19% increase from ¥0.47 in 2020[28]. - The weighted average return on equity for 2021 was 17.90%, up from 13.31% in 2020[28]. - The net cash flow from operating activities for 2021 was ¥249,897,982.47, a slight increase of 0.63% compared to ¥248,324,163.36 in 2020[28]. - The company reported a total of ¥28,455,371.20 in government subsidies for 2021, down from ¥33,625,667.21 in 2020[35]. - The company's main business revenue reached 1,406.54 million CNY, a year-on-year increase of 32.18%[55]. - Revenue from testing equipment was 531.57 million CNY, up 23.45% year-on-year[55]. - Revenue from environmental and reliability testing services was 656.38 million CNY, growing by 41.69% year-on-year[55]. - Integrated circuit verification and analysis service revenue was 218.59 million CNY, an increase of 28.37% year-on-year[55]. - The company achieved a revenue of ¥1,501,641,337.46, representing a year-on-year growth of 26.74%[70]. - The net profit attributable to shareholders was ¥190,030,913.05, with a year-on-year increase of 53.98%[70]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥168,620,203.74, reflecting a growth of 66.64% year-on-year[70]. Corporate Governance - The company emphasizes the importance of accurate financial reporting and has taken legal responsibility for the report's content[5]. - The company has a comprehensive governance structure in place, as detailed in the corporate governance section of the report[9]. - The company has a dedicated board secretary and securities representative for investor relations[23]. - The company maintains independence in personnel, assets, finance, organization, and business, ensuring no overlap with controlling shareholders[151]. - The company has established an independent financial department and a standardized accounting system, conducting financial decisions autonomously[153]. - The board of directors consists of 5 members, with extensive experience in the industry, ensuring strong governance and strategic direction[167]. - The total pre-tax remuneration for the chairman and general manager, Zhong Qionghua, is 828,000 CNY[175]. - The total pre-tax remuneration for the vice general manager, Zhao Zhengtang, is 736,000 CNY[175]. - The total remuneration for the board of directors, supervisors, and senior management during the reporting period is 689,180 CNY[178]. - The company has timely paid the remuneration as per regulations[175]. - The board of directors held 12 meetings during the reporting period, with all members present at least once[183]. - The company has not faced any penalties from securities regulatory authorities in the past three years[174]. - All reasonable suggestions made by the directors were accepted by the company during the reporting period[185]. - The company did not have any dissenting opinions from the directors regarding company matters during the reporting period[184]. Research and Development - Research and development investment reached ¥116,840,163.52, accounting for 7.78% of revenue, with a year-on-year increase of 24.86%[70]. - The company has developed several industry-leading testing equipment, including a multi-degree-of-freedom vibration testing system and a comprehensive environmental testing system[58]. - The company has a strong technical reserve and continuous innovation capability, having developed a full range of electric vibration testing equipment[58]. - The company is actively involved in setting national and industry standards for testing equipment, contributing to the overall development of the environmental testing industry in China[56]. - The company is developing a 60-ton electric vibration testing system aimed at large-scale reliability testing for industries such as aerospace and automotive[90]. - A digital hydraulic testing system prototype is in the debugging phase, intended to innovate the product structure for future series production[90]. - The company has approved the financial reports for Q1 and Q3 of 2021, indicating ongoing financial oversight[192]. - The company has implemented a comprehensive salary, performance, and incentive mechanism to enhance employee motivation[199]. - The training plan focuses on innovation management for management positions and new technology development for engineering and R&D personnel[200]. Market and Industry Position - The company operates in the high-end equipment manufacturing sector, particularly in environmental and reliability testing equipment, which has a high entry barrier due to its technology-intensive nature[41]. - The market for high-end testing equipment remains less competitive with higher profit margins, while the low-end product market faces stable profit margins due to increased demand and competition[41]. - The environmental and reliability testing service industry is a crucial part of modern high-tech services, significantly impacting product performance and reliability[44]. - The domestic third-party integrated circuit testing industry faces high technical and capital requirements, with a growing demand for testing capacity due to the expansion of the integrated circuit industry[45]. - The company entered the third-party integrated circuit testing service field by acquiring Shanghai Yite in 2019, enhancing its competitive advantage in the integrated circuit testing sector[48]. - The company provides comprehensive environmental and reliability testing services, ensuring product adaptability and reliability throughout the entire lifecycle[50]. - The integrated circuit verification and analysis services cover the entire industry chain, from design to mass production, offering a wide range of engineering technical services[53]. - National policies are supporting the integrated circuit testing industry, creating a favorable environment for growth and driving the semiconductor testing market[47]. - The market for environmental and reliability testing is rapidly growing, driven by increased R&D investment and rising quality demands in various sectors[43]. - The company aims to establish a high-quality testing system by 2025, fostering the development of influential testing brands and groups[44]. - The company has established a strong customer base with thousands of high-quality clients across various sectors, including aerospace, automotive, and electronics[68]. - The company is recognized as a "little giant" enterprise by the Ministry of Industry and Information Technology, focusing on innovation and quality control[55]. - The company plans to enhance its testing capabilities for automotive electronics and improve testing capacity for automotive-grade chips, aiming for collaborative growth with the group’s environmental testing business[137]. - The company anticipates challenges from macroeconomic fluctuations, particularly affecting industries like integrated circuits and aerospace, which are closely tied to national economic policies[140]. Risks and Challenges - The company has outlined potential risks and countermeasures in its future development outlook section[5]. - The company faces risks from rising raw material costs, which significantly impact equipment sales if not managed effectively[141]. - Increased competition in the environmental and reliability testing market may lead to a decline in market share and revenue if competitors innovate or engage in price competition[141]. - Management risks are rising due to the company's rapid expansion and increasing complexity in organizational structure, necessitating improved management capabilities[142]. - There is a risk that the economic benefits of funded investment projects may not meet expectations due to market uncertainties and potential project delays[143]. - The company is committed to accelerating the construction of funded projects and enhancing market promotion efforts to align with national policies and market demands[143]. Investment and Financial Management - The company issued 20,840,569 shares at a price of RMB 28.79 per share, raising a total of RMB 600 million, with a net amount of RMB 581 million after expenses[73]. - The company has a remaining balance of ¥52,872 million in unused raised funds, which are stored in a dedicated account[113]. - The company reported a cumulative use of raised funds amounting to ¥56,696 million[113]. - The company utilized 100 million yuan of raised funds to repay loans, with a remaining balance of 480.9999 million yuan in the special account for raised funds[117]. - The total committed investment for the temperature and humidity environmental testing box renovation and expansion project is 54.86 million yuan, with 27.6% of the investment completed during the reporting period[119]. - The laboratory network expansion project has a total committed investment of 219.08 million yuan, with 5.808 million yuan invested in the reporting period, achieving 79% of the investment progress[119]. - The company has not encountered significant changes in the feasibility of its projects, maintaining a consistent outlook[122]. - The company plans to continue its investment strategy without major adjustments, focusing on the completion of existing projects[122]. Employee and Organizational Structure - The total number of employees at the end of the reporting period is 1,912, with 363 in the parent company and 1,549 in major subsidiaries[196]. - The professional composition includes 946 technical personnel, 322 production personnel, and 209 sales personnel[197]. - The educational background shows 100 employees with a master's degree or above, 714 with a bachelor's degree, and 707 with a college diploma[198]. - The company has established a performance assessment policy for management and a wide salary policy for professionals[199]. - The company emphasizes a systematic training mechanism to ensure effective training outcomes[200].