Highbroad Advanced Material (Hefei) (SZ:301321)2023-04-27 16:00Financial Performance - In 2022, the company achieved operating revenue of 2.207 billion RMB, a decrease of 24.02% compared to the previous year[5]. - The net profit attributable to shareholders was -54.35 million RMB, a year-on-year decline of 142.62%[5]. - The company's operating revenue for 2022 was ¥2,207,151,471.29, a decrease of 24.02% compared to ¥2,904,773,738.60 in 2021[24]. - The net profit attributable to shareholders was -¥54,353,374.57 in 2022, representing a decline of 142.62% from ¥127,533,379.31 in 2021[24]. - The cash flow from operating activities was ¥47,457,064.93, down 85.99% from ¥338,732,895.70 in the previous year[24]. - The company's quarterly revenue showed a downward trend, with Q4 2022 revenue at ¥372,704,386.03, down from ¥721,280,045.01 in Q1 2022[26]. - The company’s net profit attributable to shareholders in Q4 2022 was -¥85,227,850.96, a significant decline from a profit of ¥26,038,118.53 in Q1 2022[26]. - The gross margin for the backlight display module industry was 14.31%, down 1.36% from the previous year[75]. - The company reported a significant increase in construction in progress, rising from ¥129,695,693 to ¥747,321,705, a change of 15.61% in asset composition[95]. - Investment income recorded a loss of ¥98,468.36, accounting for 0.13% of total profit, primarily due to long-term equity investment losses[94]. Asset Management - The total assets at the end of 2022 amounted to ¥3,876,531,213.93, an increase of 9.81% from ¥3,530,328,239.65 at the end of 2021[24]. - The company has received multiple awards for its Mini-LED modules, including the DIC AWARD for display application innovation and the China New Display Industry Chain Innovation Breakthrough Award[62]. - The company has successfully established a new facility in Chuzhou, covering approximately 400 acres with a total planned investment of 5 billion yuan, aimed at developing and mass-producing Mini-LED backlight modules[47]. - The company reported a non-sustainable loss in operating income of ¥2,182,760.51, accounting for -2.91% of total profit, mainly from non-current asset disposal losses[94]. - The total amount of funds raised by the company in 2020 was RMB 484.70 million, with a net amount of RMB 441.18 million after deducting issuance costs[108]. Research and Development - The company emphasizes R&D investment, aiming to become a preferred partner in the semiconductor display industry[40]. - The company has applied for a total of 555 patents, including 187 invention patents, with 383 patents granted, including 32 invention patents[68]. - The company is focusing on continuous R&D investment to enhance product customization and optical performance solutions[68]. - The company plans to enhance its research and development capabilities through the establishment of a new R&D center[112]. - The company aims to improve automation and digitalization levels to enhance management efficiency and productivity through data-driven decision-making[128]. Market Position and Strategy - The company plans to diversify its product offerings while focusing on the TFT-LCD mid-size backlight sector and advancing new businesses related to Mini-LED and OLED technologies[6]. - The semiconductor display industry is experiencing a downturn, but demand in sectors like electric vehicles and VR is driving some product growth[7]. - The company has established a leading position in the mid-size backlight market, serving applications in laptops, tablets, and automotive displays[8]. - The company is actively expanding into the automotive display market, successfully developing various backlight products for automotive applications[42]. - The company aims to reduce Mini-LED backlight costs to enhance competitiveness in the Mini-LED backlight market[88]. Governance and Risk Management - The company has established a governance mechanism and improved internal control systems to mitigate risks associated with the actual controller's influence on major decisions[140]. - The effectiveness of the internal control system is crucial for the orderly conduct of business operations, and the company is committed to continuously optimizing its governance structure[141]. - The company has established a knowledge protection system to mitigate risks associated with potential technology leaks[136]. - The company emphasizes talent retention and development to avoid risks related to the loss of key technical personnel[137]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring independent accounting and risk management[146]. Employee and Corporate Culture - The total number of employees at the end of the reporting period was 1,750, with 985 in production, 60 in sales, 227 in technology, 65 in finance, 55 in administration, and 358 in management[180]. - The company has a training program that includes various types of training to enhance employee skills and professional development[182]. - The company emphasizes corporate culture through regular activities such as flag-raising ceremonies and sports events to enhance employee cohesion[183]. - Employee benefits are provided during national holidays and weekends, reflecting the company's commitment to staff well-being[199]. - The company prioritizes production and employee safety by providing compliant protective gear and conducting annual monitoring of occupational hazards[199].