MINDEO(SZ:300656)2022-03-30 16:00Investment and Expansion - In 2021, the company completed significant investments in the power semiconductor industry chain, including a stake in Zhejiang Guangxin Microelectronics, aimed at establishing self-controlled wafer foundry capacity[11]. - The company plans for Zhejiang Guangxin Microelectronics to officially commence production in 2023, which is expected to lead to a leap in the company's power semiconductor business[13]. - The investment in Jingrui Electronics has seen its valuation increase nearly threefold since the last investment, indicating strong growth potential[13]. - The company has increased its stake in Guangwei Integration by 10% and invested an additional 30 million yuan in Jingrui Electronics, reflecting a commitment to expanding its strategic partnerships[13]. - The successful completion of a directed share issuance raised 500 million yuan, marking the first refinancing since the company's IPO in 2017, enhancing capital strength for expansion in the power semiconductor industry[14]. - The company has established a smart IDM ecosystem in the power semiconductor industry through strategic investments and acquisitions, enhancing its core competitiveness and sustainable development capabilities[60]. Production and Capacity - The monthly production capacity of Jingrui Electronics has exceeded 100,000 pieces (6 or 8 inches) and is rapidly expanding, showcasing the strategic synergy of the smart IDM ecosystem[13]. - The construction of the wafer foundry is progressing smoothly, with successful acquisition of essential production equipment, crucial for meeting the project’s capacity and product line requirements[12]. - Guangwei Integrated is expected to resolve capacity constraints with the completion of a new 12-inch wafer foundry in 2023, supporting future growth[23]. - The company’s subsidiary, Jingrui Electronics, achieved a monthly production capacity of over 100,000 pieces of silicon epitaxial wafers, meeting the first-phase project goals[68]. Financial Performance - The company reported a revenue of RMB 1.2 billion for the year 2021, representing a year-over-year increase of 15% compared to 2020[36]. - The net profit attributable to shareholders was RMB 150 million, which is a 20% increase from the previous year[36]. - The company’s total assets reached RMB 2.5 billion, up 10% from the end of 2020[36]. - The company achieved total operating revenue of 546.28 million yuan, an increase of 143.07 million yuan, representing a growth of 35.48% compared to the previous year[64]. - Net profit attributable to shareholders reached 76.13 million yuan, an increase of 24.53 million yuan, reflecting a growth of 47.54% year-on-year[64]. - The gross margin improved to 35%, up from 30% in the previous year, reflecting better cost management and pricing strategies[36]. Research and Development - The company has invested RMB 200 million in R&D for semiconductor technologies, aiming to enhance product performance and reduce costs[36]. - The company has completed several key R&D projects, including high-precision barcode recognition devices and wireless imaging scanners, aimed at enhancing product competitiveness[91]. - The company’s R&D investment amounted to ¥22,664,495.53 in 2021, representing an increase of 38.67% from ¥16,316,294.20 in 2020[93]. - R&D expenditure accounted for 4.15% of total revenue in 2021, slightly up from 4.05% in 2020[93]. Market Strategy - The company aims to build a smart IDM ecosystem in the power semiconductor sector, facilitating collaboration while maintaining independent operations among member enterprises[20]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[36]. - The company is focusing on the power semiconductor market, which is expected to grow rapidly due to increasing demand in various electronic fields[52]. - The company plans to focus on barcode recognition and power semiconductors as its future development strategy[125]. Corporate Governance - The company emphasizes transparency in financial reporting, ensuring accurate communication of business performance to investors[21]. - The company has established a complete and independent financial department with sufficient dedicated accounting personnel, ensuring independent financial decision-making[142]. - The company has a strategy in place for capital reserve conversion to increase shareholding among key management personnel[146]. - The company has maintained an independent tax-paying status and operates independent bank accounts[142]. Shareholder Relations - The company aims to maintain a high-quality development trajectory by adhering to principles of fairness and transparency in investor relations[10]. - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares and a capital reserve increase of 2 shares per 10 shares to all shareholders[27]. - The company adopted a three-year shareholder return plan (2021-2023) to enhance the transparency of cash dividends and provide stable returns for investors[175]. - The cash dividend for 2021 represents 100% of the distributable profit of RMB 271,071,909.93[178]. Risk Management - The company acknowledges risks related to industry cyclicality and market competition, particularly in the semiconductor and electronic components distribution sectors[129]. - The company will enhance management capabilities and optimize management models to address risks associated with new business expansions[131]. - The company has implemented measures to enhance post-investment management and support for acquired entities to mitigate operational risks[133]. Employee and Management - The company’s leadership is focused on fostering a culture of innovation and encouraging young talent to drive future growth[9]. - The total number of employees at the end of the reporting period was 227, with 85 in the parent company and 142 in major subsidiaries[171]. - The company has a training system in place, focusing on enhancing employee skills and professional development, with various training programs conducted in 2021[174]. - The employee composition included 66 production staff, 31 sales personnel, and 71 technical staff, indicating a diverse workforce[171].