Company code: 688020 company abbreviation: Guangzhou Fangbang Electronics Co.Ltd(688020) Guangzhou Fangbang Electronics Co.Ltd(688020)
Summary of annual report 2021
Section I important tips
1 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 go to www.sse.com com. cn. The website carefully reads the full text of the annual report. 2 major risk tips the company has elaborated various risks and countermeasures that may be faced in the process of operation in this report. Please refer to section III "discussion and analysis of operation" of this report. 3 the board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 4. All directors of the company attended the board meeting. 5 Daxin Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 6. The company is not profitable and has not yet achieved profitability when it is listed □ yes √ No 7. The profit distribution plan or the plan for the conversion of provident fund into share capital in the reporting period adopted by the resolution of the board of directors
The company's profit distribution plan for 2021 is as follows: Based on the total share capital registered on the date of equity distribution registration, the company plans to distribute a cash dividend of 1.875 yuan (including tax) to all shareholders for every 10 shares, with a total cash dividend of 15000000.00 yuan (including tax), accounting for 39.65% of the net profit attributable to shareholders of Listed Companies in the company's consolidated statements in 2021, and does not convert capital reserve into share capital, No bonus shares. The profit distribution plan of the company in 2021 has been deliberated and approved at the first meeting of the third board of directors of the company, and needs to be deliberated and approved by the 2021 annual general meeting of shareholders of the company. 8. Whether there are important matters such as special arrangements for corporate governance □ applicable √ not applicable
Section II basic information of the company
1 company profile company stock profile √ applicable □ not applicable
Company stock profile
Stock type stock exchange stock abbreviation before stock code change stock abbreviation and sector
RMB common stock (a) Shanghai Stock Exchange Guangzhou Fangbang Electronics Co.Ltd(688020) 688020 is not applicable
(1) Kechuang board
Profile of the company's depositary receipts □ applicable √ not applicable contact person and contact information
Contact person and contact information secretary of the board of directors (domestic representative of information disclosure) securities affairs representative
Name: she Weihong sun Yilin
Office address: floor 6, building A5, No. 11, Kaiyuan Avenue, Guangzhou high tech Industrial Development Zone floor 6, building A5, No. 11, Yuanyuan Avenue, Guangzhou high tech Industrial Development Zone
Tel: 020-82512686 020-82512686
E-mail [email protected]. [email protected].
2. Introduction to the company's main business during the reporting period (I) main business, main products or services 1. Main business
The company's main business is the R & D, production and sales of high-end electronic materials, focusing on providing high-end electronic materials and application solutions. The company's existing products include electromagnetic shielding film, flexible copper clad laminate, ultra-thin copper foil and so on.
Among them, electromagnetic shielding film was the main source of income of the company during the reporting period, and lithium battery copper foil and standard electronic copper foil products also realized part of the income. 2. Main products and services (1) electromagnetic shielding film
Electromagnetic shielding film is a kind of film with micron thickness and complex structure. It has the function of restraining electromagnetic interference of electronic components and works by bonding to FPC. The trend of "light, thin and short" and high-frequency and high-speed of modern electronic products is more obvious, which drives the electromagnetic interference inside and outside electronic components and components, and the attenuation of signals in transmission. There is a greater demand for electromagnetic shielding film, and also puts forward higher performance requirements.
The electromagnetic shielding film of the company can be divided into hsf6000 and hsf-usb3 series. Among them, hsf-usb3 series is a new electromagnetic shielding film launched in 2014. It has a unique micro needle structure independently developed, which can further improve the shielding efficiency, greatly reduce the signal transmission loss and reduce the incompleteness of the transmission signal. The company's electromagnetic shielding film products fill the gap in the field of high-end electromagnetic shielding film in China and break the monopoly of foreign enterprises. At present, they are widely used in well-known terminal brand products such as Huawei, Xiaomi, oppo, vivo and Samsung. (2) Flexible copper clad laminate
Flexible copper clad laminate (FCCL) is the processing substrate of FPC, which is composed of flexible insulating layer and metal foil. According to the product structure, flexible copper clad laminate can be divided into three-layer flexible copper clad laminate with glue (3l-fccl) and two-layer flexible copper clad laminate without glue (2L-FCCL); According to the product thickness, each type of flexible copper clad laminate is divided into ordinary type and very thin type.
The rapid development of downstream electronic products promotes the continuous innovation and breakthrough of FPC manufacturing technology in the direction of high-performance and lightweight, which also continuously improves the technical requirements for high-density interconnection (HDI) of FPC. Ultra thin flexible copper clad laminate is one of the key materials to realize high-density interconnection technology. It can greatly improve the assembly density of electronic components and save the assembly space, and realize the preparation of ultra-fine circuit FPC. The extremely thin flexible copper clad laminate produced by the company using its own core technology has internationally advanced key indicators such as copper layer thickness and surface profile, peel strength, electrical properties, heat and chemical resistance and dimensional stability, and has good processing performance. (3) Ultra thin copper foil
The thickness of ultra-thin copper foil independently developed and produced by the company can be as thin as 1.5 μ m. It has excellent properties such as low surface profile, extremely high thermal stability, high elongation and tensile strength, stable and controllable stripping force, including strippable ultra-thin copper foil with carrier, lithium battery copper foil and standard electronic copper foil.
Strippable ultra-thin copper foil with carrier (hereinafter referred to as "strippable copper") is a necessary substrate for preparing chip packaging substrate and HDI board. At present, the line width and line distance of IC carrier and class carrier have been reduced to 10 / 10 μ m-40/40 μ m. It cannot be prepared by the traditional reduction process, so MSAP (semi addition process) must be used, and MSAP must use strippable copper.
The peelable copper produced by the company has the characteristics of extremely thin thickness, extremely low surface profile, stable and controllable stripping force between carrier layer and peelable layer, which can meet the process requirements of MSAP.
Lithium battery copper foil is the necessary substrate for preparing lithium battery cathode materials. High quality lithium battery copper foil can improve the energy density of lithium battery. At present, the mainstream thickness of lithium battery copper foil on the market is 6 μ m. And gradually to 4.0 μ M development, the lithium copper foil produced by the company can meet the above needs. （2） Main business mode 1. Procurement mode
The company adopts the procurement mode of "order by production and batch order". The procurement personnel determine the order batch of each variety and issue the order demand order according to the demand of each variety, production planning time and inventory. The company's procurement system implements ISO9000 standard, and the procurement price is mainly determined by inquiry mode. 2. Production mode
The company adopts the production mode of "determining production by sales and combining demand forecasting". After receiving the customer's order or demand, the marketing department issues the production index to the production department, and the production department arranges the corresponding production plan according to the order and product inventory.
The core production links of the company's electromagnetic shielding film include carrier film surface treatment, insulating layer coating, metal alloy layer formation, micro needle metal layer formation, conductive adhesive layer coating, etc. the core links of ultra-thin copper foil production include copper melting, green foil, post-treatment, etc. the core links of flexible copper clad laminate production include glue mixing synthesis, coating, vacuum sputtering, pressing, etc. The company's products are high-end electronic materials with complex production processes and high technical content. In order to effectively control product quality and prevent the leakage of technical secrets, a highly independent production mode has been gradually formed. The above production links are completed by the company independently, and there is no business mode of outsourcing processing. The company strictly controls the production technology level and product quality control standards. During the production process, inspectors and testing equipment monitor the whole process of the production process and inspect the quality of the final products. 3. Sales model
During the reporting period, the company's sales model was direct sales, with direct customers being circuit board manufacturers and lithium battery manufacturers, and end users being brand manufacturers such as smart phones, tablet computers and new energy vehicles.
On the one hand, according to market research, industry change trend, technological progress and other conditions, the company carries out product development for the target market and puts forward solutions for downstream customers; On the other hand, the company has established a good cooperative relationship with downstream customers and terminal brand manufacturers, forming a benign interaction. The company carries out targeted product development and sales according to the needs of downstream customers.
After the product development is completed, the downstream customers will conduct proofing, process verification and basic performance test. After passing the overall performance test, the packaging / terminal brand manufacturer will conduct the overall performance test. After passing the small batch trial production, after verifying the stability of quality, you can enter the bill of materials of the terminal product. After the parties concerned reach an agreement on the commercial terms, the company can mass produce and sell. 4. R & D mode
The company has long adhered to independent innovation and adopted the combination of customized R & D and active R & D. In terms of customized R & D, through technical exchanges with downstream terminal manufacturers, understand the personalized needs of downstream terminal manufacturers for electromagnetic shielding film, ultra-thin copper foil, flexible copper clad laminate and other products, and carry out customized R & D. In terms of active R & D, we use self-developed equipment, rely on our own accumulated experience and design products according to market demand. The production department cooperates with the R & D laboratory to test and confirm, continuously optimize the experimental scheme, continuously improve, and finally determine the scheme for small batch trial production. After the trial production is successful, we can carry out mass production to gradually improve the performance of existing products. （3） Industry 1 Development stage, basic characteristics and main technical threshold of the industry (1) industry
The company's main business is the R & D, production and sales of high-end electronic materials. According to the industry classification guidelines for listed companies issued by the CSRC, it belongs to the "C39 computer, communication and other electronic equipment manufacturing industry"; According to the industrial classification and code of national economy (GB / t4754-2017), the industry of the company belongs to "c3985 manufacturing of special electronic materials". (2) Development stage and basic characteristics of the industry
The manufacturing industry of electronic special materials is a strategic, basic and leading industry supporting the national economy and ensuring national security. Its development degree is one of the core indicators of a country's scientific and technological development level. The insufficient development of electronic special materials industry will lead to its downstream industries, such as chip packaging, high-performance and high-precision circuit board preparation. 5g communication, artificial intelligence, big data center, automotive electronics and other strategic fields closely related to it must rely on imported raw materials, forming a "neck" dilemma. In recent years, the state has promulgated a series of policies and regulations to identify information technology and electronic special material manufacturing as one of the strategic emerging industries and vigorously support their development. The classification of strategic emerging industries issued in 2018 clearly lists "electromagnetic wave shielding film", "high frequency microwave, high-density packaging copper clad laminate", "high-purity copper foil for PCB", "high-purity copper foil (for lithium battery)" and other electronic special materials as key products.
The direct downstream customers of the company's products are mainly circuit board manufacturers, copper clad laminate manufacturers and battery manufacturers. The end customers are mainly smart phone manufacturers, semiconductor chip manufacturers and new energy vehicle manufacturers.
PCB, known as "the mother of electronic products", can realize the interconnection of electronic components and play the role of relay transmission. In recent years, with the rapid development of 5g communication, consumer electronics, automotive electronics and other industries, the scale of PCB market has expanded year by year. According to prismark's statistics, the global PCB output value has reached US $65.22 billion in 2020 and is expected to increase to US $86.33 billion in 2025.
Looking back on the whole history of PCB development, the global PCB industry was dominated by European and American manufacturers in the initial stage. With the development and growth of Japanese PCB, a situation dominated by Europe, America and Japan has formed. After entering the 21st century, Asia has the advantage of labor cost and the booming downstream electronic terminal industry, which can provide huge market demand support for PCB, Therefore, attracting the investment of PCB manufacturers worldwide, the PCB industry in Europe and the United States has moved abroad, and the focus of global PCB industry has shifted to Asia. Asia has started to dominate the global PCB industry. At present, a new situation with Asia as the center (especially Chinese mainland) and other regions has been formed. According to Prismark statistics and forecasts, the PCB output value of Chinese mainland in 2008 was 15 billion 40 million US dollars, and in 2020 it was US $35 billion 50 million, and it is expected to reach US $46 billion 40 million in 2025.
PCB industry is growing in overall volume and constantly focusing on Chinese mainland. Meanwhile, it shows the upgrading characteristics of technology. It shows that the demand for High Performance PCB such as flexible FPC, HDI, chip packaging substrate and so on, and the market demand of buried passive components are also gradually emerging. According to prismark's statistics and prediction, the compound growth rates of global FPC, HDI and packaging substrate from 2019 to 2024 are 3.4%, 5.9% and 6.5% respectively. By 2024, the output values of the three will be US $14.385 billion, US $11.971 billion and US $11.146 billion respectively.
The global PCB output value and technical route show an overall upward trend, which increases the market demand for the company's electromagnetic shielding film, flexible copper clad laminate, ultra-thin copper foil, resistance film and other products. Overall, the market of electronic special materials
