AVD(SZ:300939)2023-04-19 16:00Financial Performance - The company reported a profit distribution plan of 4.00 RMB per 10 shares (including tax) based on a total of 120,000,000 shares[5]. - The company's operating revenue for 2022 was ¥1,103,673,208.81, a decrease of 0.70% compared to ¥1,111,485,303.92 in 2021[20]. - Net profit attributable to shareholders for 2022 was ¥159,247,184.29, representing a 45.21% increase from ¥109,663,859.61 in 2021[20]. - The net profit after deducting non-recurring gains and losses was ¥134,224,886.42, up 55.73% from ¥86,189,200.58 in 2021[20]. - The net cash flow from operating activities increased by 103.91% to ¥160,782,924.26 in 2022 from ¥78,851,692.38 in 2021[20]. - Basic and diluted earnings per share for 2022 were both ¥1.33, a 43.01% increase from ¥0.93 in 2021[20]. - Total assets at the end of 2022 were ¥1,597,021,938.40, an increase of 11.98% from ¥1,426,227,532.09 at the end of 2021[20]. - Net assets attributable to shareholders at the end of 2022 were ¥1,285,940,167.72, a 9.47% increase from ¥1,174,665,106.14 at the end of 2021[20]. - The company reported a total of ¥25,022,297.87 in non-recurring gains and losses for 2022, compared to ¥23,474,659.03 in 2021[26]. - The weighted average return on equity reached 12.99%, an increase of 2.82% compared to the previous year[45]. Research and Development - The company invested 59.61 million yuan in R&D, a year-on-year increase of 20.40%, accounting for 5.40% of operating revenue[54]. - The company has applied for 18 patents related to electronic paper technology, with 4 invention patents and 7 utility model patents granted as of December 31, 2022[50]. - The company has applied for 9 patents for the 5G communication wavelength selector (WSS) silicon-based liquid crystal device, with 6 utility model patents granted[54]. - The company has initiated a strategic partnership with a leading technology firm to co-develop new products, expected to launch in Q3 2023[165]. - The company plans to increase R&D investment to strengthen its core competitiveness and accelerate the construction of its R&D center[112]. - Research and development expenses increased by 25% in 2022, totaling 200 million RMB, to enhance product innovation[165]. Market Expansion and Strategy - The company is focused on expanding its market presence and developing new technologies, although specific figures were not disclosed in the provided content[5]. - The company aims to enhance product competitiveness and market position by continuously improving product structure and expanding application fields[32]. - The company is actively expanding its market presence and has introduced various new technologies and products to strengthen its competitive position[58]. - The company is expanding its overseas market presence, with exports to North America, Europe, and Asia, while managing associated political and economic risks[117]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[165]. - A strategic acquisition of a smaller tech firm is in progress, expected to be finalized by Q3 2023, which will enhance the company's R&D capabilities[156]. Corporate Governance and Compliance - The company emphasizes the importance of accurate financial reporting, with all board members present for the meeting[5]. - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting heads[5]. - The company strictly adheres to the requirements of the Company Law and the Securities Law, ensuring compliance with governance standards and improving its governance structure continuously[127]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[129]. - The company has established a governance structure that ensures fair treatment of all investors and timely disclosure of information[197]. - The company is committed to improving corporate governance and investor relations to enhance transparency and investor trust[114]. Employee Relations and Development - The company has implemented a training plan to enhance employee skills across various levels and functions, supporting its strategic development[181]. - The company has established a competitive salary policy to motivate employees and enhance productivity[180]. - The company has a total of 120,000,000 shares after the proposed capital reserve transfer, with no stock dividends planned[183][186]. - Employee rights are protected through strict compliance with national labor laws and regulations, ensuring the safeguarding of legal rights[200]. - The company organizes annual health check-ups for employees and provides quarterly benefits and gifts during traditional festivals[199]. - A labor union and employee representative assembly are established to ensure employee participation in major company decisions[200]. Financial Management and Investment - The company reported a net cash decrease of CNY 241.69 million in cash and cash equivalents, a 132.57% decline compared to an increase of CNY 742.00 million in 2021[82]. - The company has RMB 573.15 million of raised funds remaining unused, with RMB 214.29 million of idle funds allocated for cash management[97]. - The company plans to adjust the expected completion date for the electronic paper module production line and R&D center construction projects to March 31, 2024, due to macroeconomic changes affecting project progress[100]. - The company has committed to balancing short-term and long-term interests while considering the welfare of stakeholders[196]. - The company is committed to ensuring the steady implementation of its fundraising projects despite the challenges posed by the current environment[100]. - The company reported an asset impairment loss of ¥-23,781,856.74, representing -13.34% of total profit, mainly due to inventory impairment provisions[83]. Product Development and Innovation - The company has developed core technologies in high-reliability chips and customized touch display solutions, positioning itself strongly in various application fields[31]. - The company completed the design and sample production of silicon-based liquid crystal devices for 5G wavelength selectors, applying for 9 patents and receiving 6 utility model patents[78]. - The company is in the market promotion phase for its all-reflective TFT display module project, which has completed basic research and development as of December 31, 2022[78]. - New product launches are planned for Q2 2023, including two innovative semiconductor products aimed at enhancing market competitiveness[156]. - The company is exploring potential mergers and acquisitions to strengthen its technology portfolio, with a budget of 500 million RMB allocated for this purpose[165]. Risk Management - The company’s procurement strategy focuses on self-sourcing and monitoring core material price fluctuations to mitigate operational risks[36]. - The company is monitoring raw material price fluctuations closely, as they significantly impact production costs and profitability[119]. - The company is implementing measures to mitigate risks associated with fundraising project execution, including market monitoring and project management[123]. - The company faces risks from market competition, particularly in the rapidly growing touch display industry, necessitating continuous innovation and market expansion[116].