Jiangsu Yitong High-Tech Co.Ltd(300211)
Jiangsu Yitong High-tech Co., Ltd.
(No. 28, Tonglin Road, Changshu City, Jiangsu Province)
Annual report for 2021
March 14, 2022
Section I important tips, contents and definitions
The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee that the contents of the annual report are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities.
Huang Wang, the person in charge of the company, Cha Qingwen, the person in charge of accounting, and cha Qingwen, the person in charge of the accounting organization (Accounting Supervisor), made a statement to ensure that the financial report in this annual report is true, accurate and complete.
All directors have attended the meeting of the board of directors to consider this report.
The future plans, development strategies and other forward-looking descriptions involved in this report do not constitute the company’s substantive commitment to investors. Investors and relevant persons should maintain sufficient risk awareness and understand the differences between plans, forecasts and commitments. Please pay attention to investment risks.
The company invites investors to carefully read the full text of this annual report and pay special attention to the following risk factors:
(I) risk of continuous decline in gross profit margin of CATV products
The equipment procurement of radio and television industry is mainly centralized procurement by provincial radio and television operators in the form of unified public bidding. The qualification requirements for equipment suppliers participating in bidding are relatively low in the industry. In order to strive for new market or more market share, the equipment suppliers participating in bidding often reduce the product price, resulting in particularly fierce competition among the equipment suppliers participating in bidding. During the reporting period, the purchase cost of some raw materials increased due to the impact of the global epidemic, market price fluctuations and environmental protection. Subsequently, if the rise of labor cost, product cost and management cost cannot be controlled timely and effectively, it may directly affect the sales revenue of the company’s products and the risk of continuous decline of the comprehensive gross profit margin of products. The company will timely adjust the marketing strategy of products according to the needs of customer network construction to ensure the market share of products with certain market competitiveness; Continuous product innovation and optimization of structural design; Strengthen the cost control of purchasing raw materials to control the structural cost of products as much as possible; By strengthening internal management, improving production efficiency, product quality and service quality and efficiency, the business risk of continuous decline in product sales revenue and gross profit margin shall be minimized. (II) risk that accounts receivable may form bad debts
By the end of the reporting period, the book value of the company’s accounts receivable was 1044117 million yuan, accounting for 17.20% of the company’s total assets. During the reporting period, the company continued to strengthen the management of accounts receivable to control daily business risks and the overall scale of accounts receivable. In the company’s main business, the payment of CATV network equipment is mainly made by local provincial network radio and television operators, and the recovery of project payment is mainly settled according to the specific implementation progress of the project and the appropriation of project special funds. During the performance of the contract, there will be some factors such as long collection cycle of some customers, delayed payment cycle or customers’ failure to pay in time according to the performance period of the contract. If the fund allocated by the payer cannot be in place in time, the payment cannot be made on time according to the contract during performance, and the performance payment cannot be made in time when the security deposit expires, there may be an increase in the provision for bad debts and the risk of bad debts. The company will strengthen the credit management of customers and the management of accounts receivable through pre check, in-process control, post collection and other measures, and conduct regular analysis and evaluation. The pre check mainly adopts the method of customer credit evaluation for prevention. At the same time, the company will strengthen contract review, supervise contract performance, increase the collection of accounts receivable and other measures to reduce the risk of bad debts of accounts receivable, To control the daily operation risk of the company.
(III) risk of insufficient ability to expand new business
At present, the company’s main businesses are CATV product business, video monitoring engineering service business based on CATV Technology, heart rate sensor and wearable device chip business. The overall market competition in the radio and television industry is fierce, the construction of two-way network is generally slowed down, the transformation and upgrading of new businesses in the radio and television industry is less than expected, and the sensor business is the company’s newly expanded business. In the follow-up, if the company cannot expand the new industrial chain in time and break through the commercial application of existing business or existing technology, there may be a decline in product market share, insufficient new technology reserves The decline of market competitiveness or the impact of adverse factors such as project implementation risk will have an adverse impact on the future performance growth of the company. The company will speed up the research and development of new products and the reserve of new technologies according to the development trend of the industry and market demand; Actively accelerate market expansion and technology promotion to further improve market share; At the same time, actively explore the application of new technologies in new fields, expand new customers and realize the sustainable and stable development of the company in the future. The profit distribution plan approved by the board of directors is: Based on 302675973, the company will distribute cash dividends of 0.14 yuan (including tax) to all shareholders for every 10 shares, give bonus shares of 0 share (including tax), and transfer capital reserve to all shareholders for every 10 shares.
catalogue
Section I important tips, contents and definitions Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section IV corporate governance Section V environmental and social responsibility 73 section VI important matters 75 Section VII changes in shares and shareholders Section VIII preferred shares Section IX related information of bonds 101 section x financial report one hundred and two
Directory of documents for future reference
(I) financial statements signed and sealed by the legal representative, the person in charge of accounting work and the person in charge of accounting organization (Accounting Supervisor). (II) originals of all company documents and announcements publicly disclosed on the website designated by the CSRC during the reporting period. (III) the original of 2021 annual report signed by the legal representative of the company. (IV) the original of the audit report with the seal of the accounting firm and the signature and seal of the certified public accountant. (V) other relevant materials. Location of the above documents for reference: Securities Affairs Department of the company
interpretation
Explanatory item refers to the explanatory content
Whale microelectronics refers to Hefei whale Microelectronics Co., Ltd., a wholly-owned subsidiary of the company
Suzhou yiyitong refers to Suzhou yiyitong Electronic Information Technology Co., Ltd., a wholly-owned subsidiary of the company
The television signal is carried by the physical media such as optical cable and cable, transmitted by the television station, and transmitted by the optical cable and cable television (CATV)
Cable transmission is received by the TV of the end user to realize the transmission of TV signal.
It is an audio-visual system that compresses and modulates images and sounds through digital technology, transmits cable digital TV through wired mode, and demodulates and decodes them by terminal receiving device (set-top box) for users to receive and play.
Build an uplink data network on the basis of the existing downlink channel of CATV network to provide users with an uplink channel for returning data information. Users can communicate with the information source through a two-way network, Carry out video communication (including video conference, video short message, distance teaching, telemedicine and security monitoring), cable voice service (cable VoIP), broadband Internet access (including online games, e-commerce, etc.), video on demand, online banking IP phone and other services.
Through radio frequency communication technology (RFID), infrared sensors, global positioning system, laser scanners and other information sensing equipment, any item is connected to the Internet according to the agreed agreement. The Internet of things refers to
A network for information exchange and communication to realize intelligent identification, positioning, tracking, monitoring and management.
Triple play refers to the integration of Internet, telecommunication network and radio and television network.
It is the advanced concept of fixed network operators for access layer network deployment, mainly referring to the realization of “narrowband + optical advance and retreat”
Specific practice of the transformation from “copper cable” as the main network to “broadband + optical fiber” network.
The optical transmitter converts the HDB3 signal code sent from the multiplexing equipment into NRZ code, then encodes the NRZ code into a code type suitable for transmission on the optical cable line, and finally carries out electrical / optical conversion. The electrical signal optical transmitter refers to
After processing, the light source is intensity modulated, the electrical signal is converted into optical signal and coupled into optical fiber.
It is mainly used to access the optical fiber of the network, ranging from the office end equipment of the regional computer room to the user terminal equipment. According to the distance between optical fiber and users, it can be divided into fiber to the roadside (fiber to the FTTx technology refers to
Curve FTTC), fiber to the building FTTB and fiber to home
(fiber to the home; FTTH) and other three service forms.
Optical receiver is usually located at the front end of optical fiber contact and cable TV. Its main function is optical receiver
Convert the optical signal into RF signal.
Optical workstation is a new generation of two-way optical node product of CATV. It completes the conversion process of down optical workstation from optical signal to RF TV signal and reverse RF to reverse optical transmission signal in HFC network, and serves the fields of radio, television and communication.
Fiber to the home (FTTH) refers to the abbreviation of fiber to the home, which refers to the use of passive optical network technology to transmit signals
Optical network unit (ONU) is a bidirectional access mode installed at the user.
HFC means
