Company code: Shenzhen Jpt Opto-Electronics Co.Ltd(688025) company abbreviation: Shenzhen Jpt Opto-Electronics Co.Ltd(688025) Shenzhen Shenzhen Jpt Opto-Electronics Co.Ltd(688025) North Electro-Optic Co.Ltd(600184) Co., Ltd
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
(1) The international trade environment has a great impact on the company’s operation.
In recent years, the uncertainty of the international trade environment has increased, the anti globalization trade doctrine has further spread, and some countries have taken trade protection measures, which has a certain impact on the development of some industries in China. The integrated circuit industry has the typical characteristics of global division of labor and cooperation. If there are major adverse changes in the international trade environment, further escalation of trade frictions between countries and regions, and continuous warming of Global trade protectionism, it may have an adverse impact on the production and operation of companies upstream and downstream of the integrated circuit industry chain, resulting in an increase in transaction costs upstream and downstream of the industry chain, which may have an adverse impact on the operation of the company.
(2) Technology upgrade iteration risk
Laser related industries are developing rapidly. Enterprises need to maintain or improve product performance and technical level through continuous technological upgrading iterations. The company has the risk of reducing product competitiveness because the iterative speed of technological upgrading is slower than the industrial development speed.
(3) R & D failure risk
Laser and laser / optical intelligent equipment are technology intensive products. When the company develops new products according to the market and customer needs, there is a risk of R & D failure due to failure to correctly understand the development trend of the industry and related core technologies or failure to make progress in new products, new processes, new materials and other fields.
(4) Risks such as failure of technology to form products or realize industrialization
Laser and laser / optical intelligent equipment need more implementation experience from technology to application. The technology developed by the company has the risk of not forming products or realizing industrialization due to factors such as poor stability, difficult application, high cost and mismatch with the needs of downstream customers.
(5) The customer concentration is high and the laser / optical intelligent equipment business has the risk of dependence on key customers
Due to the fierce competition in downstream industries, macroeconomic fluctuations, technological upgrading and other factors, the demand of key customers is constantly changing and increasing. If key customers reduce the purchase volume of the company’s products due to the selection of other suppliers in the future, it may have a great adverse impact on the sales revenue, gross profit margin, net profit and other indicators of the company’s overall business.
(6) Risk of brain drain
Talent is the core of the technology development related to laser and laser / optical intelligent equipment. Due to the small overall scale of the company, the company has the risk of slowing down the technology development due to the brain drain.
(7) Risk of increase in net accounts receivable and decrease in turnover rate
The net accounts receivable of the company at the end of 2020 and 2021 were 2296531 million yuan and Gemac Engineering Machinery Co.Ltd(301048) 5 million yuan respectively, accounting for 12.80% and 18.39% of current assets respectively, and the net accounts receivable increased; The turnover rates of accounts receivable in 2020 and 2021 were 3.64 and 4.52 respectively. The company has the risk that the company’s funds cannot be recovered and bad debt losses will occur due to the default of customers’ accounts receivable (including customers’ intentional arrears of accounts payable, customers’ poor operating performance and insolvency, etc.). 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. Zhitong Certified Public Accountants (special general partnership) has 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
According to the audit of Zhitong Certified Public Accountants (special general partnership), as of December 31, 2021, the profit available for distribution at the end of the period of Shenzhen Shenzhen Jpt Opto-Electronics Co.Ltd(688025) North Electro-Optic Co.Ltd(600184) Co., Ltd. (hereinafter referred to as “the company”) was 17812535379 yuan. According to the resolution of the board of directors, the company plans to distribute profits based on the total share capital registered on the date of equity distribution in 2021. The profit distribution plan is as follows:
The company plans to distribute a cash dividend of 3.00 yuan (including tax) to all shareholders for every 10 shares. Based on the total share capital of 92865576 shares of the company as of March 31, 2021, the total cash dividend to be distributed is 278596728 yuan (including tax). The amount of cash dividends of the company in this year accounts for 30.51% of the net profit attributable to shareholders of Listed Companies in the consolidated statements of the company in 2021.
If the total share capital of the company changes from the date of disclosure of this announcement to the date of equity distribution and equity registration, due to the conversion of convertible bonds into shares, share repurchase and cancellation, share repurchase and cancellation of equity incentive grant, and share repurchase and cancellation of major asset restructuring, the company plans to maintain the total amount of distribution unchanged and adjust the distribution proportion per share accordingly. In case of subsequent changes in the total share capital, the specific adjustment will be announced separately.
The company’s profit distribution plan for 2021 has been deliberated and approved at the 42nd meeting of the second board of directors and needs to be submitted to the general meeting of shareholders for deliberation. 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
A-share Shanghai Stock Exchange Shenzhen Jpt Opto-Electronics Co.Ltd(688025) Shenzhen Jpt Opto-Electronics Co.Ltd(688025) not applicable
Scientific innovation 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: Wu Jianke, Shen Hangda
Office address: Guansheng, Luhu community, Guanhu street, Longhua District, Shenzhen 1201, building a, komlung Science Park, No. 8-1, Luwu Road, Guanhu street, Longhua District, Shenzhen
Tel: 075529528181
E-mail [email protected]. [email protected].
2. Introduction to the company’s main business in the reporting period (I) main business, main products or services
(1) Main business of the company
The company’s main business is R & D, production and sales of lasers and intelligent equipment mainly used for precision detection and micromachining of integrated circuits and semiconductor optoelectronic related devices.
China’s leading manufacturer of pulse width tunable optical fiber laser (MOPA) and high-precision optical fiber laser is the first supplier of commercial pulse width tunable optical fiber laser equipment.
After years of development, based on laser research and development, the company has built technology platforms such as laser and optics, testing and measurement, motion control and automation, machine vision and so on. At present, the company has an international R & D and sales team centered on Shenzhen and Singapore, and its products and services cover many well-known customers in Asia, North America, Europe and other regions. All kinds of core lasers and laser / optical intelligent equipment products produced by the company have been recognized by a company, Intel, Guoju, housheng electronics, Italy France semiconductor, Shenzhen Sunlord Electronics Co.Ltd(002138) and Contemporary Amperex Technology Co.Limited(300750) , Byd Company Limited(002594) , Gotion High-Tech Co.Ltd(002074) and other global leading manufacturers of consumer electronics, semiconductors, optoelectronic components and power battery heads.
(2) Main products of the company
During the reporting period, the company’s main products include lasers, laser / optical intelligent equipment and optical fiber devices. The company’s laser products include pulsed fiber lasers, continuous fiber lasers, solid-state lasers and ultrafast lasers. The MOPA pulsed fiber laser independently developed by the company took the lead in mass production and sales in China, filling the technical gap in this field in China. In recent years, focusing on customers’ demand for laser technology solutions, the company has developed a variety of laser / optical intelligent equipment, such as intelligent spectrum detector, laser resistance regulator, chip laser identification traceability system, laser scriber, VCSEL laser module detection system, silicon wafer test system, laser two-dimensional code laser micromachining equipment based on transparent and brittle materials, VR glasses detection system, which are widely used in laser precision processing Spectrum detection, consumer electronics manufacturing, chip component manufacturing and other fields. （2） Main business model
The company focuses on the R & D, production and sales of lasers and laser / optical intelligent equipment. It has an independent and complete procurement, production, marketing and R & D system, forming a stable profit model.
1. Profit model
The company mainly realizes its revenue by selling lasers, laser / optical intelligent equipment, optical fiber devices and other products to customers outside China. In the aspect of laser, the company comprehensively considers the actual needs of customers and inventory management for production and delivery; In the aspect of laser / optical intelligent equipment, the company participates in the preliminary R & D process of customer products, and carries out R & D, production and delivery in combination with customer application scenarios; In terms of optical fiber devices, the company produces and supplies in batches in combination with customer order demand and inventory.
The company has no significant difference with companies in the same industry in terms of basic business models such as procurement, sales and production and related business development. It is innovative and unique in the links before the sales of new products.
2. Procurement mode
The materials required for the company’s production are purchased centrally by the supply chain department. In terms of raw material procurement, the company formulates the corresponding procurement plan based on the production plan and in combination with the actual R & D and production needs, and the supply chain department is responsible for the procurement implementation; In terms of the purchase of production equipment and testing instruments, the supply chain department shall purchase them after the evaluation of relevant departments and the determination of the general manager. The company strictly checks through credit filing, sample certification and batch certification, determines the purchase price through inquiry, price comparison and negotiation, coordinates the delivery date with the supplier according to the customer’s delivery date requirements, and strictly implements the arrival inspection on the supply quality.
The company has established a perfect procurement management system and formulated a standardized supplier selection system. There are at least two or more suppliers for core materials, and the procurement quota is allocated according to the evaluation score, so as to reduce the supply risk and ensure the quality and timeliness of supply. At the same time, the company has established an evaluation system for suppliers to eliminate unqualified suppliers in time and select new high-quality suppliers.
3. Production mode
The company’s product production mainly adopts the combination mode of “production based on sales” and “order production”, in which the laser products are produced in batches according to the needs of customers; The R & D and production cycle of laser / optical intelligent equipment products is long, and production is carried out in combination with order requirements; Optical fiber devices have high degree of standardization and large single demand, and are mainly produced in batch.
On the whole, the company formulates the production plan according to customer needs and orders, and implements the production plan according to the system documents of the company’s production process control procedure. The production of laser mainly involves testing, assembly and other processes; The production of laser / optical intelligent equipment products mainly involves R & D, testing, assembly and other processes; The production of optical fiber devices mainly involves cable cutting, curing, assembly, grinding, end inspection and other processes. In the production process, the company carries out pre production preparation, production execution, semi-finished product control and finished product warehousing in strict accordance with Oracle EBS management system.
4. Marketing model
The company adopts direct selling mode for sales in foreign markets in China. The company has established stable cooperative relations with major customers and established a relatively perfect marketing system.
In terms of lasers, the company mainly establishes its corporate image through professional exhibitions, introduces the company’s technical advantages and product characteristics through invited participation in industry salons, forums and other activities, and improves the stickiness of existing customers through perfect pre-sales and after-sales services. In emerging application fields, the company will deeply study the action principle and application effect of materials and laser with customers, and use technical advantages to develop products more suitable for specific fields.
In terms of laser / optical intelligent equipment, in view of the high complexity of product composition and customers’ more personalized needs for products, the company mainly participates in customers’ production and application scenarios, deeply understands customers’ needs, and forms the final product R & D and design scheme and carries out production through full scheme communication, so as to realize product sales.
In terms of optical fiber devices, aiming at the sales characteristics of optical fiber communication connecting line products of communication equipment manufacturers, which are mainly mass customization, the company mainly adopts the marketing strategy of continuous development and consolidation of key customers.
5. R & D mode
Based on the market situation and customer demand, the company independently develops new products and technologies, and transforms and produces scientific and technological achievements with commercial value.
The company’s core R & D direction is mainly all kinds of lasers and laser / optical intelligent equipment. According to the difficulty of project R & D, the R & D cycle ranges from about 4 months to 3 years, with an average annual R & D topics of about 60 in the reporting period. At the initial stage of project R & D, the R & D department will
