Allwinner Technology (SZ:300458)2022-03-24 16:00Financial Performance - The company reported a total revenue of RMB 1.5 billion for the year 2021, representing a year-over-year increase of 20% compared to 2020[20]. - The net profit attributable to shareholders was RMB 331 million, an increase of 15% from the previous year[20]. - The company's operating revenue for 2021 was ¥2,065,356,818.73, representing a 37.19% increase compared to ¥1,505,485,852.54 in 2020[26]. - The net profit attributable to shareholders for 2021 was ¥494,458,759.71, a significant increase of 141.49% from ¥204,754,125.73 in 2020[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥364,042,222.88, up 339.37% from ¥82,855,758.97 in 2020[26]. - The basic earnings per share for 2021 was ¥1.500, an increase of 141.94% compared to ¥0.620 in 2020[26]. - The total assets at the end of 2021 were ¥3,486,343,695.69, reflecting a 26.51% increase from ¥2,755,823,719.39 at the end of 2020[26]. - The company reported a net cash flow from operating activities of ¥356,785,003.35, a decrease of 8.97% from ¥391,938,843.24 in 2020[26]. - The company’s weighted average return on equity for 2021 was 19.30%, up from 9.05% in 2020, indicating improved profitability[26]. - The total operating revenue for 2021 was approximately ¥2.07 billion, representing a year-on-year increase of 37.19% from ¥1.51 billion in 2020[69]. - The revenue from integrated circuit design accounted for 99.98% of total revenue, amounting to approximately ¥2.06 billion, with a year-on-year growth of 37.16%[69]. - The revenue from smart terminal application processor chips was approximately ¥1.59 billion, making up 77.15% of total revenue, with a year-on-year increase of 40.81%[69]. - The company achieved a gross margin of 40.53% in the integrated circuit design sector, which improved by 6.68% compared to the previous year[72]. - The overseas revenue was approximately ¥1.24 billion, accounting for 59.83% of total revenue, with a year-on-year growth of 36.48%[69]. Market and Product Development - User data showed a growth in active users by 30% year-over-year, reaching 10 million active users by the end of 2021[20]. - The company has set a revenue target of RMB 2 billion for 2022, indicating a growth expectation of approximately 33%[20]. - New product launches in 2021 included advanced AI chips, which contributed to a 25% increase in sales in the smart terminal segment[20]. - The company is expanding its market presence in Southeast Asia, with a projected market share increase of 10% in the region by 2023[20]. - The company launched competitive new products and solutions across various business areas, focusing on smart video technology and AI integration[57]. - The company has developed a series of important technological innovations, including 8K ultra-high-definition video decoding and a sixth-generation ISP[57]. - The company is focusing on the smart automotive market, ensuring stable production and delivery for front-loading market clients[59]. - The company is enhancing its capabilities in high-resolution display and media decoding technologies, with a strong global customer base[60]. - The company is in the mass production stage for several key projects, including AI voice processing chips and RISC-V SoCs[86]. Research and Development - Research and development expenses increased by 18% in 2021, totaling RMB 200 million, focusing on next-generation SoC technologies[20]. - R&D investment amounted to ¥384.83 million in 2021, representing 18.63% of total revenue[91]. - The number of R&D personnel increased by 20.08% to 580, with a 1.50% rise in the proportion of R&D staff[89]. - The company focuses on independent research and development of key core technologies while integrating mature industry IP resources to provide competitive product offerings for target markets[45]. - The company has developed a comprehensive SoC design technology platform compatible with various core counts and application requirements, enhancing R&D delivery capabilities[45]. Strategic Initiatives and Risks - The company is exploring strategic acquisitions to enhance its technology portfolio, with a budget of RMB 500 million allocated for potential mergers and acquisitions in 2022[20]. - The management highlighted potential risks including supply chain disruptions and competitive pressures, with strategies in place to mitigate these risks[5]. - Market risks include rapid product obsolescence and intense competition, which could impact demand for the company's products[132]. - The company faces significant uncertainty in technology research and market promotion due to evolving user demands and market competition[135]. - The company is exposed to exchange rate risks, particularly due to a high proportion of exports and dollar-denominated receivables[135]. Corporate Governance and Shareholder Information - The company has no controlling shareholder, ensuring its independence in operations and decision-making[142]. - The annual shareholders' meeting had a participation rate of 35.43% on April 26, 2021[143]. - The company adheres to legal and regulatory requirements in its governance structure, with no significant discrepancies noted[142]. - The total shares held by the board members decreased from 91,093,689 to 85,613,689, a reduction of 5,480,000 shares, primarily due to concentrated bidding and block trading[146]. - The company currently has 7 board members, including 3 independent directors[149]. - The management team consists of 3 senior executives, including the general manager and vice president[151]. - The company has not experienced any changes in the positions of directors, supervisors, or senior management during the reporting period[146]. - The company’s board of directors has been diligent in maintaining compliance with relevant laws and regulations, ensuring the interests of all shareholders are protected[164]. Employee and Social Responsibility - The company has a total of 742 employees, with 580 in technical roles, 45 in sales, and 17 in finance[171]. - The company has implemented a comprehensive training program aimed at enhancing talent effectiveness and organizational development[174]. - The company emphasizes the importance of balancing economic and social benefits, actively fulfilling its social responsibilities[197]. - The company did not engage in poverty alleviation or rural revitalization efforts during the reporting period[198].