Shenzhen Injoinic Technology (SH:688209)2024-04-29 08:19Financial Performance - The net profit attributable to shareholders for 2023 is CNY 29,373,348.62, with a proposed cash dividend of CNY 0.28 per share, totaling CNY 11,785,109.08, which accounts for 40.12% of the net profit[5]. - The company has not achieved profitability since its listing[4]. - The net profit attributable to shareholders decreased by 81.04% to ¥29,373,348.62, while the net profit after deducting non-recurring gains and losses fell by 89.09% to ¥15,640,087.97[20][24]. - Basic earnings per share dropped by 81.58% to ¥0.07, and diluted earnings per share also decreased by the same percentage[23][24]. - The company reported a significant increase in revenue for 2023, reaching a total of 1.5 billion RMB, representing a growth of 25% compared to the previous year[12]. - The company achieved operating revenue of ¥1,215,775,044.39, an increase of 40.19% compared to the same period last year[33]. - The company's main business revenue reached 1,201.44 million RMB, a year-on-year increase of 39.01% due to continuous product optimization and market expansion[116]. Research and Development - The total R&D expenditure for 2023 was 200 million RMB, accounting for 13% of total revenue, aimed at driving innovation[12]. - The company's R&D investment accounted for 25.18% of operating revenue, an increase of 5.92 percentage points compared to the previous year[23]. - Research and development expenses for the year amounted to ¥306,165,036.78, representing an increase of 83.32% and accounting for 25.18% of operating revenue[35]. - The company has developed several core technologies, including mixed-signal SoC integration and fast charging protocol integration, with a total of 154 patents granted[78]. - The total number of R&D personnel reached 440, accounting for 71.08% of the total workforce, representing a year-on-year increase of 30.95%[44]. - The company is currently investing ¥409.86 million in a project focused on power management chips, with cumulative investments reaching ¥367.96 million[87]. - The company is also investing ¥112.92 million in a project for fast charging chips, with cumulative investments of ¥189.40 million[87]. Market Expansion and Strategy - The company provided a positive outlook for 2024, projecting a revenue growth of 30% based on new product launches and market expansion strategies[12]. - The company is planning to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[12]. - A strategic acquisition of a smaller tech firm was completed, enhancing the company's capabilities in chip design and expected to generate 100 million RMB in synergies[12]. - The company aims to enhance its product matrix by expanding into new areas such as signal chains and automotive electronics, while maintaining its market position in power management and fast charging protocol chips[152]. - The company intends to pursue mergers and acquisitions to enhance industry synergy and expand its technological capabilities in various application fields[154]. Corporate Governance - The profit distribution plan has been approved by the board and will be submitted for shareholder approval[6]. - The company has not disclosed any special arrangements for corporate governance[8]. - The board of directors held 12 meetings during the reporting period, ensuring compliance with legal and regulatory requirements[164]. - The company completed the board re-election in November 2023, forming a diverse and professional board team[165]. - The supervisory board convened 8 meetings, with 3 members ensuring compliance and oversight of financial matters[166]. - The company emphasizes transparency and timely information disclosure, adhering to relevant regulations to protect investors' rights[167]. Risks and Challenges - The report includes a risk statement regarding forward-looking statements, emphasizing the need for investors to recognize potential risks[7]. - The company is facing risks related to technological upgrades and talent retention in a competitive market[102][103]. - The company is exposed to macroeconomic risks due to international trade tensions affecting semiconductor supply chains[110]. Employee and Management - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 14.53 million[184]. - The company has implemented stock incentives for key personnel, with varying amounts, including 1,765,928 shares for a core technical staff member[174]. - The company has a structured approach to remuneration, linking it to specific roles and responsibilities within the organization[184]. - Employee training is a key focus, with both internal and external training programs designed to enhance skills and keep staff updated on technological trends[199]. Product Development and Innovation - The company has successfully launched mass production of automotive-grade chips, BMS, and new energy-related products, contributing to revenue growth[24]. - The company has developed integrated fast charging protocol technology, enhancing the stability and safety of fast charging solutions[66]. - The company has launched approximately 335 product models, with over 4,441 sub-models, and sold more than 1.2 billion chips during the reporting period[56].