On the evening of March 24, Sihui Fuji Electronics Technology Co.Ltd(300852) ( Sihui Fuji Electronics Technology Co.Ltd(300852) ) released the annual report of 2021. During the reporting period, the company achieved an operating revenue of 1.05 billion yuan, an increase of 61.44% year-on-year; The net profit attributable to the parent company was 184 million yuan, a year-on-year increase of 52.94%.
In order to meet the incremental demand of customers, in 2021, the company accelerated the construction progress of raised investment projects and completed the full line of production in September 2021 to meet the rapidly increasing demand for large quantities of automotive products. At present, the company has built phase I and phase II factories focusing on small batch and Allegro, phase III factories focusing on medium and large batch, phase IV factories focusing on high-rise and HDI, and phase V PCBA factories focusing on small batch circuit board mounting, which together constitute a comprehensive and rapid production pattern of model, small, medium and large batch, and provide customers with the whole process services such as model design, production and patch.
Through continuous R & D and innovation, the company applied for 15 patents in the reporting period, including 12 invention patents and 3 utility models. It has achieved certain results in the special circuit board represented by metal base, and basically realized the full coverage of PCB products such as HDI board, thick copper board, metal substrate, rigid flexible bonding board and high-frequency high-speed board.
The company has deeply cultivated the PCB small and medium batch board market of “paying more attention to quality”, with the market positioning of “high quality, high reliability, short delivery time and rapid response”, and has accumulated a large number of high-quality customers mainly from Japan. In order to better explore the overseas market, the company incorporated Sihui Fuji Electronics Technology Co.Ltd(300852) Electronics (Hong Kong) Co., Ltd. in April 2021. In order to open the Automotive PCB market and cut into the high value-added Automotive PCB track dominated by important safety components, the company signed the strategic cooperation agreement with Japan CMK group, which is famous for Automotive PCB, in August 2021. While steadily developing Japanese and European and American customers, the company focuses on in-depth cooperation and coordinated development with Chinese competitive industrial enterprises, and vigorously improves China’s share in the high reliability and small batch board market. During the reporting period, the company actively expanded well-known enterprises in the fields of industrial control, automobile, finance and medical treatment outside China, with 187 new customers, including 143 Chinese customers. Benefiting from China’s intelligent upgrading and domestic substitution, the order share of China’s stock customers to the company also maintained a stable growth.
According to prismark data, the demand for automotive electronics rebounded rapidly in 2021, but the rebound momentum was suppressed due to the core shortage event. As the chip supply tends to be normal, it is expected that automotive electronics will usher in rapid growth in 2022. In addition, national policies strongly support the upgrading and transformation of the manufacturing industry and promote the development of the industry in the direction of automation and intelligence. The market performance of industrial control in 2021 is strong, The 13th five year plan for the development of national strategic emerging industries issued by the State Council proposes to “promote the construction of Siasun Robot&Automation Co.Ltd(300024) automatic production lines, digital workshops and intelligent factories with independent intellectual property rights, provide overall solutions for key industries, and promote the intelligent transformation of traditional manufacturing industries”. The promotion of these policies will open space for sustainable growth in the downstream market of the company.
