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赛微电子(300456) - 2020 Q4 - 年度财报
SMEISMEI(SZ:300456)2021-03-16 16:00

Revenue and Financial Performance - The company's overseas revenue ratio increased significantly from 53.17% in 2017 to 88.86% in 2020, indicating a strong reliance on international markets[3]. - The company reported a total revenue of RMB 300 million for the year 2020, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 50 million, which is a 10% increase compared to the previous year[18]. - The company's operating revenue for 2020 was ¥765,006,087.93, representing a 6.55% increase compared to ¥717,966,331.76 in 2019[24]. - The net profit attributable to shareholders for 2020 was ¥201,096,906.27, a significant increase of 74.20% from ¥115,438,474.87 in 2019[24]. - The total assets at the end of 2020 amounted to ¥4,775,820,168.84, which is a 14.53% increase from ¥4,169,865,582.94 at the end of 2019[24]. - The basic earnings per share for 2020 was ¥0.31, up 72.22% from ¥0.18 in 2019[24]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, which was ¥5,570,164.14 in 2020 compared to ¥61,676,272.73 in 2019, a decline of 90.97%[24]. - The company reported non-recurring gains of ¥195,526,742.13 in 2020, compared to ¥53,762,202.14 in 2019[30]. - The weighted average return on net assets for 2020 was 6.83%, an increase from 4.52% in 2019[24]. - The company achieved an investment income of 85.98 million RMB, with 73.01 million RMB from the disposal of long-term equity investments[87]. Research and Development - In 2020, the company's R&D expenses reached 195.37 million yuan, accounting for 25.54% of total revenue, highlighting a commitment to innovation despite inherent risks[4]. - The company is investing RMB 100 million in research and development for new technologies, particularly in the field of third-generation semiconductor materials[18]. - Major R&D investments included MEMS (108.50 million yuan), GaN (11.02 million yuan), navigation (58.88 million yuan), and avionics (10.02 million yuan)[115]. - The R&D investment as a percentage of revenue increased significantly from 15.39% in 2019 to 25.54% in 2020[116]. - The company has accumulated over 400 process development projects in the MEMS business, achieving mass production of more than 40 MEMS products[116]. - The company has a strong R&D and production team for GaN materials, leveraging proprietary growth techniques to meet market demands[35]. - The company employs a highly skilled workforce, with 332 R&D personnel, representing 55.06% of total employees, ensuring strong technical capabilities[60]. Market and Industry Trends - The MEMS and GaN industries are in a growth phase, driven by advancements in technology and increasing market applications, particularly in the context of the 5G era and IoT development[36]. - The global MEMS market size is projected to grow from $11.6 billion in 2018 to approximately $18 billion by 2024, with a CAGR exceeding 8%[44]. - The global GaN power device market is projected to reach $450 million in 2022, with a compound annual growth rate (CAGR) of 91% from 2019 to 2022[185]. - The MEMS market segments include RF MEMS ($4.4 billion), optical MEMS ($872 million), MEMS inertial devices ($4.2 billion), microphones ($1.5 billion), inkjet heads ($1.1 billion), pressure sensors ($2 billion), and radiation thermometers ($979 million) by 2024[179]. - The MEMS industry is characterized by high capital intensity, technological intensity, and intellectual intensity, leading to significant barriers to entry for new players[173]. - The application of MEMS devices spans consumer electronics, automotive electronics, defense and aerospace, industrial and communications, and biomedical sectors, benefiting from the rapid growth of 5G, AI, and IoT markets[178]. Strategic Initiatives and Future Plans - The company plans to invest in a new packaging and testing production line, which is expected to reach a capacity of 10,000 wafers per month upon full production[6]. - The company aims to increase its market share by 25% in the next fiscal year through strategic partnerships and acquisitions[18]. - The company is exploring overseas direct investment opportunities to enhance its global presence[18]. - The company plans to launch three new products in 2021, focusing on advanced navigation systems and MEMS technology[18]. - The company is actively pursuing mergers and acquisitions to strengthen its position in the semiconductor industry[89]. - The company intends to pursue both organic growth and potential acquisitions to enhance its industry chain and business expansion[190]. Operational Challenges and Risks - The ongoing COVID-19 pandemic poses significant operational risks, particularly for the company's international subsidiaries and supply chain[2]. - The company faces competitive pressures in the semiconductor industry from major players like Bosch and Texas Instruments, necessitating continuous technological innovation[3]. - The company acknowledges the uncertainty in converting potential customers into actual clients for its new packaging and testing services, which may affect capacity utilization[6]. - The company faces risks related to the inability to secure large-scale production orders from existing customers and the uncertainty in acquiring new clients for its MEMS business[194]. - Currency exchange rate fluctuations pose a risk to the company's financial performance, as a significant portion of revenue is generated from foreign markets[191]. - The company’s ability to implement its fundraising projects may be adversely affected by changes in the domestic and international market environments[194]. Technology and Innovation - The company has developed a certain technical foundation for MEMS high-frequency communication device manufacturing processes, but the project faces risks due to long R&D cycles, high technical requirements, and significant funding needs[8]. - The company has over 10 technologies related to MEMS wafer manufacturing, including deep etching and wafer bonding techniques[199]. - The company has developed new bonding processes and functional caps, which are expected to enhance product performance and market competitiveness[122]. - The company has a strong emphasis on research and development, as indicated by the variety of patents obtained since 2004, showcasing its commitment to innovation[121]. - The company holds a total of 128 patents, with a significant focus on innovative technologies such as blind hole chemical mechanical polishing and low-resistance wafer through holes[125]. Subsidiaries and Investments - The company has established a new subsidiary focused on unmanned systems, which is expected to contribute significantly to future revenue streams[18]. - The company has established Silex Microsystems International AB with an investment of 50,000 Swedish Krona to support its MEMS business development[79]. - The company has invested in several subsidiaries, including Beijing Haichuang Microchip Technology Co., Ltd., which has commenced operations but has minimal impact on overall performance[164]. - The company transferred 4.95% of its stake in Wuhan Guanggu Information Technology Co., Ltd., realizing investment gains due to the company's optimistic development prospects[78]. - The company has divested 100% of its subsidiary Qingzhou Nawei Aviation Technology Co., Ltd. for approximately 215.86 million yuan, focusing on strategic MEMS and GaN businesses[76].