the annual report for 2021 released on March 14, Wg Tech (Jiang Xi) Co.Ltd(603773) 3 shows that during the reporting period, the company accelerated the market-oriented promotion and commercial implementation of the transformation business on the basis of consolidating the liquid crystal panel finishing business, and achieved an annual operating revenue of 1049995300 yuan, a year-on-year increase of 73.79%; Among them, the sales revenue of photoelectric glass finishing business was 6837424 million yuan, a year-on-year increase of 21.49%; The R & D revenue of mini led new products is 2.6824 million yuan.
The company said that the net profit in 2021 was a loss of 268629 million yuan, mainly because the company was in the first year of product transformation in 2021, and the R & D investment increased by about 19.3 million yuan; The relevant benefits of the acquisition of subsidiaries have not been fully released, and the financial expenses have increased by about 20 million yuan; New products have not yet achieved economies of scale, resulting in an increase of about 11 million yuan in impairment losses.
As the mini led glass substrate and UTG began to shift to mass production, Wg Tech (Jiang Xi) Co.Ltd(603773) in order to maintain its core competitiveness, further in-depth research and development was carried out in the fields of new display materials, new processes and new applications, and in the fields of optics, chemistry and microcircuit technology. Due to the expansion of R & D scale, management was strengthened in the fields of R & D, technology and product mass production transformation, Enable the company to maintain a leading position in technology at all times. During the reporting period, the company’s new R & D projects include UTG product development, front cover high resistance film, mini / micro led direct display product development, and the development of IC chip ultra-thin glass packaging carrier sector for IC chip packaging in the fields of high precision, high thermal conductivity, high-frequency transmission and so on.
The company’s folding mobile phone cover project has realized that the cover thickness is less than 25um, which is suitable for UTG project of ultra-thin flexible display. The research and development is mainly based on the 5g ecology, the mobile terminal will continue to iterate in the future, and the folding mobile phone will be one of the important forms. The difficulty of the folding mobile phone lies in the integrated folding screen. The flexible materials and adhesives in the upstream materials of the folding screen are more difficult, especially the cover material. UTG (ultra thin flexible glass) is expected to become an important new direction. In addition, With the strong demand for lightweight notebook computers and tablet computers, winding TV has gradually become the R & D direction of industrial products. The above products all need the application of UTG, and the application scenario of ultra-thin glass cover sector will be more and more extensive.
During the reporting period, the company’s R & D investment was 51.224 million yuan, an increase of 60.50% over the same period last year, and the total R & D investment accounted for 4.88% of the operating revenue. As of December 31, 2021, the company has applied for two sets of patents from the United States, Europe and Japan through PCT, all of which have been authorized; 472 national patents were applied for, including 189 invention patents and 280 utility model patents; A total of 306 patents were authorized, including 84 invention patents and 219 utility model patents, and won the 22nd China excellent patent award.
Wg Tech (Jiang Xi) Co.Ltd(603773) is a leading enterprise in the fine processing of optoelectronic glass in China. In recent years, with the advent of a new generation of display technology Mini LED display era and the further clarity of the commercial application of new materials UTG, 3A cover sector and PI in the field of panel display, the company has opened the industrial transformation and strategic layout of “mini display + backlight module full fit” on the basis of the original glass finishing business. During the reporting period, the company successively acquired 51% equity of Huichen electronics, 51% equity of Beijing Baoang and 60% equity of Xingwei electronics, expanded the company’s extension in the upstream and downstream fields such as backlight, touch module and optical film materials, further promoted and improved the company’s layout in the photoelectric display module industry chain, and deepened the in-depth cooperation with panel enterprises and vehicle terminal customers, Improve the company’s rapid development and business profitability.
