MINDEO(SZ:300656)2024-04-19 12:53Business Transformation and Innovation - MinDe Electronics has transformed its traditional barcode recognition business into the AiDC (Artificial Intelligence for Data Capture) division, entering the machine vision industry[3]. - The company is focused on expanding its business growth engines through technological innovation and collaboration with key partners[5]. - The integration of AI technology has revolutionized traditional digital image processing algorithms, allowing for more accurate and faster image feature identification tasks[11]. - The company is focusing on expanding its AiDC business, exploring new products and application scenarios, particularly in the IVD and new energy vehicle sectors[25]. - The company launched a full series of barcode recognition devices with AI visual recognition capabilities in 2023, expanding into the machine vision field[69]. Semiconductor Industry Developments - The company has established a smart IDM ecosystem for power semiconductors, with all major operating entities officially entering mass production, expected to continuously release capacity and performance in the future[3]. - The smart IDM ecosystem's wafer foundry, Zhejiang Guangxin Microelectronics, began mass production in December 2023, marking a significant milestone in the power semiconductor industry chain[16]. - The company aims to build a smart IDM ecosystem for power semiconductors, investing in upstream core areas such as wafer materials and wafer foundries[64]. - The company’s power semiconductor design business includes products like MOSFETs and fast recovery diodes, primarily used in photovoltaic inverters and energy storage[66]. - The company has established a smart IDM ecosystem in the power semiconductor sector, with all core production facilities now operational[68]. Financial Performance and Challenges - The company reported significant declines in revenue and net profit from joint ventures due to the semiconductor industry's downturn[32]. - The net profit attributable to shareholders for 2023 decreased by 77.15 million RMB, a decline of 86.00% compared to the previous year[32]. - The company’s operating revenue for 2023 was ¥399,509,326.59, a decrease of 22.90% compared to ¥518,197,303.02 in 2022[49]. - The net profit after deducting non-recurring gains and losses was -¥17,481,933.47, a decline of 133.26% compared to ¥52,558,506.20 in 2022[49]. - The electronic components distribution business, Taibo Xunrui, faced operational pressure, resulting in a year-on-year decrease in revenue and profit, with net profit turning from profit to loss[27]. Market Trends and Sales Growth - In 2023, the barcode recognition equipment business achieved a revenue growth of 18% year-on-year, reaching a record high, with overseas sales increasing by nearly 50%[23]. - The barcode recognition business has been upgraded to the AiDC division, achieving a 17.58% year-on-year revenue growth, with overseas sales increasing by 47.51%[82]. - The company aims to enhance its market presence by deepening cooperation with key industry clients and expanding its domestic market coverage in 2024[25]. - The global semiconductor market sales in 2023 were USD 52.68 billion, down 8.2% from USD 57.41 billion in 2022, but expected to grow by 13.1% in 2024[61]. - Revenue from the computer and other electronic equipment manufacturing industry increased by 25.63% to CNY 277,563,384.00, accounting for 69.48% of total revenue[86]. Research and Development - The company invested CNY 26.48 million in R&D during the reporting period, a 6.74% increase year-on-year, and holds 84 valid patents[85]. - The company has completed the mass production of new products, including deep algorithm barcode recognition devices, enhancing product competitiveness[99]. - The company is currently developing new products for industrial production lines using AI and CIS machine vision technology[100]. - The number of R&D personnel increased by 2.63% to 78 in 2023, with the proportion of R&D staff rising to 32.91%[100]. - The company has made significant investments in semiconductor-related companies to strengthen its supply chain and production capabilities[68]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operation from its controlling shareholder[146]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with legal requirements and effective decision-making[147]. - The company has implemented measures to ensure the supervisory board effectively monitors the legality and compliance of the board and senior management's actions[147]. - The company has a complete and independent financial department with sufficient accounting personnel and an independent accounting system[151]. - The company has committed to providing accurate and complete information related to asset restructuring, ensuring no false records or misleading statements exist[198]. Employee and Stakeholder Engagement - The total number of employees at the end of the reporting period is 237, with 73 in the parent company and 164 in major subsidiaries[175]. - The company has established a comprehensive training system to enhance employee skills and career development, focusing on management and professional skills training[177]. - The company respects and protects the legitimate rights and interests of stakeholders, promoting balanced interests among shareholders, employees, and society[149]. - The company has a clear and stable profit distribution policy, ensuring transparency and consistency in cash dividends to enhance investor confidence[179]. - The company emphasizes employee rights protection, providing various insurance and benefits as per legal requirements[193].