Securities code: 000670 securities abbreviation: * ST Yingfang Announcement No.: 2022-015 Infotmic Co.Ltd(000670) summary of 2021 Annual Report
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
Tips on non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors □ applicable √ not applicable. The company plans not to distribute cash dividends, bonus shares or convert accumulation fund into share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation * ST Yingfang stock code 000670
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Wang Fang daibo
Office address: unit 03 / 05, 5th floor, No. 799, Tianshan West Road, Changning District, Shanghai unit 03 / 05, 5th floor, No. 799, Tianshan West Road, Changning District, Shanghai
Fax 021-58853100
Tel: 021-58853066
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(1) Main business
During the reporting period, the company’s main business includes two business segments: R & D, design and sales of integrated circuit chips and distribution of electronic components. The company takes Shanghai Yingfang micro, a wholly-owned subsidiary, and Shaoxing huaxinke, a holding subsidiary, as the main body to carry out chip R & D and design business; Carry out the distribution business of electronic components through the holding subsidiaries huaxinke and worldstyle.
According to the guidelines for Industry Classification of listed companies, the industry of the company is “manufacturing (c) – 39 computer, communication and other electronic equipment manufacturing”.
(2) Business model
① R & D, design and sales of integrated circuit chips
Engaged in the R & D, design and sales of intelligent image processor and related software for smart home, video surveillance, motion camera, UAV, commercial industrial control equipment and other applications, and provided overall solutions for hardware design and software application.
The company’s main products include chips and software. Chip products are mainly oriented to the field of image processing. Software products are embedded software applications based on application processor and image processor chip.
R & D mode: adhering to the strategy of “customer demand orientation”, we provide products that meet the needs of customers and the market through the chip R & D mode of combining independent R & D and purchased IP cores.
Production mode: the company is an IC design enterprise in fabless mode, which is mainly engaged in chip design and software development, and completes the manufacturing, packaging and testing of integrated circuits through outsourcing.
Sales mode: the company adopts the sales mode of combining direct selling and distribution, understands the market demand through direct selling, develops the market through distribution and reduces the operating cost.
② Distribution of electronic components
Provide customers with integrated services of electronic component product distribution, technical support and supply chain support.
Main products and uses: acting as an agent for the products of many well-known original electronic components manufacturers at home and abroad. The products involved mainly include RF chips, fingerprint chips, power chips, passive components and comprehensive components. The application fields mainly include network communication, automotive electronics, intelligent wear and consumer electronics.
Procurement mode: formulate annual procurement plan according to customer demand and industry development trend. According to the procurement plan, select qualified suppliers and obtain competitive prices, sign supply contracts and purchase products. In order to reduce the risk of overstocking and replacement of products, we usually adopt the method of customization and replacement in order to reduce the risk of product impairment; For mature and versatile products, set safety inventory for relevant products according to the analysis and judgment of market demand, and timely adjust the inventory according to market changes, so as to ensure rapid response to customers’ product demand under low inventory risk.
Sales mode: formulate annual sales plan according to customer demand and industry development trend. Establish the supplier code at the customer and establish the supply and marketing relationship; Understand the delivery date of products, follow up the production needs of customers, and make a stock plan; Follow up the implementation of orders, be responsible for reconciliation, invoicing and payment collection after delivery, and complete order sales. A stable and efficient professional sales network has been set up in the areas where the electronic industry is concentrated in China, and sales engineers are equipped to track customers, deal with problems in time and visit regularly. (3) Industry of the company during the reporting period
Driven by the rapid growth of the global semiconductor market, China, as the world’s largest manufacturer and consumer of information and electronic products, has gradually risen to the world’s largest consumer market. In 2020, China’s imports of integrated circuits reached US $350.04 billion, an increase of US $44.5 billion over 2019. From January to November 2021, China’s imports of integrated circuits reached US $389.06 billion, a year-on-year increase of 23.4%; In 2020, the export value of China’s integrated circuits was US $116.6 billion, an increase of US $15 billion over 2019. From January to November 2021, the export value of China’s integrated circuits was US $138.12 billion, a year-on-year increase of 34.0%.
As the core of modern information technology industry, integrated circuit industry involves many kinds of products. It is a strategic and leading industry supporting China’s national economic development and ensuring national security. It is also a key force to promote the transformation and upgrading of China’s high-tech manufacturing industry and realize high-quality development. Its derived PC, Internet of things, Internet of things, big data A large number of information technology industries such as cloud computing and artificial intelligence have penetrated into all fields of political and economic life and become the focus of global competition. During the 14th Five Year Plan period, a series of policies on promoting the high-quality development of the integrated circuit industry and software industry in the new era were continuously issued, which once again conveyed the perseverance of sustainable development of the integrated circuit and software industry, the determination to attract professionals and the ambition to improve the independent innovation ability of the industry to enterprises and talents all over the country and the world. At present, the overall scale of the integrated circuit industry is still in a period of continuous expansion. The integrated circuit and software industry has made precise policies to attract social investors and gather rich social resources, so as to provide talent, technical guarantee and financial support for the sustainable and long-term development of the integrated circuit industry.
As a member of China’s semiconductor industry, Yingfang micro is currently located in Shanghai, a gathering place with high comprehensive level of China’s integrated circuit industry, complete industrial chain and good industrial ecological environment. It also actively accelerates innovation in chip design, self-developed algorithms and other fields, and combines the advantages close to the Chinese market to develop cost-effective chip products for customers.
Electronic component distribution is a downstream industry of integrated circuit manufacturing industry. It is an important link connecting upstream original manufacturers and downstream electronic product manufacturers in the industrial chain. It is an indispensable intermediate link in the industrial chain. At present, the impact of the epidemic has hindered the production and operation of some foreign electronic component enterprises, and also promoted the continuous transfer of overseas orders to China, which gives Chinese electronic component related enterprises the opportunity to occupy the market. With the rapid development of downstream consumer electronics, automotive electronics, Internet of things and other application markets, Chinese electronic component related enterprises comply with the situation and seize opportunities bravely. The market share has been continuously improved, and the influence of Chinese electronic component enterprises in the world is increasing day by day. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years √ yes □ no retroactively adjust or restate the reasons for accounting error correction
Unit: Yuan
At the end of 2020, the end of this year is higher than that at the end of 2019
Increase or decrease at the end of 2021
Before adjustment, after adjustment, before adjustment, after adjustment.
Total assets 1514338322.09 1468419837.16 1468419837.16 3.13% 58161668.17 58161668.17
Net assets attributable to shareholders of listed companies: 32739547.20 15769789.16 15769789.16 107.61% – 23790940.09 – 23790940.09
2020 compared with 2019 of the previous year
Increase or decrease in 2021
Before adjustment, after adjustment, before adjustment, after adjustment.
Operating income 2890027934.17 699966125.52 699966125.52 312.88% 4129630.93 4129630.93
Net profit attributable to shareholders of listed companies 3237739.13 13048572.57 10119339.70 – 68.00% – 206113476.37 – 206113476.37
Deduction of 2713167.14, 8077950.87, 2104627.77, 28.91% – 205714738.52 – 205714738.52 attributable to shareholders of the listed company, except for the net profit of recurring profit and loss
Net cash flow from operating activities -134595330.86 -99790350.47 -99790350.47 -34.88% – 26005033.49 -26005033.49
Basic earnings per share (yuan / share) 0.0040 0.0160 0.0124 -67.74% – 0.2524 -0.2524
Diluted earnings per share (yuan / share) 0.0040 0.0160 0.0124 -67.74% – 0.2524 -0.2524
Weighted average return on net assets 13.35% – 379.58% – 242.67% – 256.02% – 237.18% – 237.18%
Reasons for changes in accounting policies and correction of accounting errors:
The company’s application for resumption of listing was accepted by Shenzhen Stock Exchange in May 2021. In June 2021, Hubei regulatory bureau of China Securities Regulatory Commission accepted the entrustment of Shenzhen Stock Exchange to conduct on-site verification on the company’s application for resumption of listing. According to the opinions of on-site verification and the relevant provisions of relevant laws and regulations, the company made retroactive adjustments to the financial statements of 2020 and January June 2021. The 23rd Meeting of the 11th board of directors held on February 14, 2022 considered and adopted the “on correction of accounting errors in the early stage”
