Securities code: Guangdong Chaohua Technology Co.Ltd(002288) securities abbreviation: Guangdong Chaohua Technology Co.Ltd(002288) Announcement No.: 2022016 Guangdong Chaohua Technology Co.Ltd(002288)
Summary of annual report 2021
1、 Important note: the summary of this annual report is 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 carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
Tips for non-standard audit opinions √ applicable □ not applicable. Lianda Certified Public Accountants (special general partnership) has issued a qualified opinion for the company. The board of directors and the board of supervisors of the company have made detailed explanations on relevant matters, which investors should pay attention to. The profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period reviewed by the board of directors □ applicable √ not applicable. The company plans not to distribute cash dividends, bonus shares or convert accumulation fund into share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Guangdong Chaohua Technology Co.Ltd(002288) stock code Guangdong Chaohua Technology Co.Ltd(002288)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Li Jing Hua Ningfeng
Office address: room 1312, block B, phase I, innovation and Technology Plaza, Tian’an Digital City, Futian District, Shenzhen
Fax: 075583433868
Tel: 075583432838
E-mail Guangdong Chaohua Technology Co.Ltd(002288) @chaohuatech.com. Guangdong Chaohua Technology Co.Ltd(002288) @chaohuatech.com.
2. Introduction to main business or products during the reporting period
The company is mainly engaged in the R & D, production and sales of high-precision electronic copper foil, various types of copper clad laminates and other electronic substrates and printed circuit boards (PCBs). In recent years, the company adheres to the development strategy of “vertical integration” industrial chain and continues to expand to the upstream raw material industry. At present, the company has the production and service ability to provide the whole industrial chain product line including copper foil, semi solidified sheet, single / double-sided copper clad laminate, single-sided printed circuit board, double-sided multilayer printed circuit board, wood pulp paper for copper clad laminate, drilling and pressing processing, so as to provide customers with “one-stop” product services, It is a rare enterprise in the industry with the product layout of the whole industrial chain. Focusing on strategic emerging industries such as information functional materials, new energy materials, nano materials and cutting-edge new materials, the company is committed to becoming an “industrial unicorn” in the market segment of new metal materials in the global high-precision copper foil industry. The main business details of the company are as follows:
(I) introduction to main products
Main product introduction, application and capacity
Copper foil is copper clad laminate (CCL) and printed electrical copper foil. According to the downstream demand, it is mainly divided into electronic circuit copper foil (an important printed circuit board for the manufacture of copper clad laminate, printed circuit board (PCB) and lithium-ion battery) and lithium-ion copper foil (mainly used for power lithium battery and consumer lithium battery materials. In today’s electronic information industry, high-speed generation pool and lithium battery for energy storage), Among them, the main driving force for the growth of demand for lithium battery copper foil. During the exhibition, electrolytic copper foil is known as an electronic product, which is produced in power lithium batteries. The accelerated promotion of 5g, IDC and other new infrastructure will also drive the “neural network” of copper foil demand signal and power transmission and communication.
Collaterals “. In 2021, the company has a copper foil production capacity of 20000 tons / year. At present, the company has 4.5 μ M lithium battery copper foil production capacity, as well as the mass production capacity of 6um lithium battery copper foil and high-frequency high-speed copper foil. The company’s copper foil “one thin (1 / 3 oz) one thick (3oz, 4oz and above high-precision electronic copper foil)” products have won wide favor from customers.
Copper clad laminate (CCL) is the end product of copper clad laminate in the electronic industry, which is PCB. It is mainly used in IDC, computer, communication equipment, basic materials, processing and printing, consumer electronics, automotive electronics and other industries.
Circuit board (PCB) is an important raw material of PCB. In 2021, the company has an annual production capacity of 12 million copper clad laminates to produce culvert materials. Cover five categories of paper-based and composite based copper-clad laminates with dozens of thicknesses and types. ccl
Printed circuit board (PCB) is an important PCB, which is widely used in IDC, communication equipment, automotive electronics, consumer electronics and electronic components. It is the support of electronic components, computer and network equipment, industrial control, medical and other industries.
It is the carrier of electrical connection of electronic components. In 2021, the company has an annual PCB production capacity of 7.4 million square meters, with single and double P CB, also known as the “mother of electronic products”, which is the production capacity of surface printed circuit boards and multilayer circuit boards.
Electricity is indispensable in modern electronic information products
Sub components.
Printed circuit board
(II) operation
2021 is the first year of the 14th five year plan, and China’s economic construction has shifted to a new stage of high-quality development. Although external challenges such as inflation, chip supply shortage and repeated fluctuations of the epidemic continue, with the vaccination of covid-19 vaccine and the gradual recovery of overseas economy, China’s economy continues to recover steadily, production demand continues to rise, and economic development presents a steady strengthening and steady improvement trend. In 2021, China’s gross domestic product (GDP) increased by 8.1% year-on-year, and its economic growth rate ranked among the top among the world’s major economies; The total economic output reached 114.4 trillion yuan, exceeding 110 trillion yuan. Under the leadership of the board of directors and the management, the company accurately judged the situation, carefully planned and deployed, took decisive action, firmly grasped the strategic development opportunities in “new infrastructure” such as 5g and IDC, new energy vehicles, energy storage and other fields, continuously consolidated its main business and achieved good business performance. The specific operating conditions during the reporting period are as follows:
1. Continue to strengthen R & D and innovation and further enrich the product structure
With the rapid growth of downstream industries such as 5g, IDC, new energy vehicles and automotive electronics, and the continuous upgrading and iteration of downstream demand, the market puts forward higher requirements for the performance of copper foil. In order to seize market opportunities and maintain the leading level of products, the company invested 132.03 million yuan in R & D in 2021, with a significant year-on-year increase of 79.07%. The company continues to increase R & D investment, accelerate the R & D Progress of new products, and constantly enrich and improve the existing process technology to further improve the product quality.
During the reporting period, the RTF copper foil developed by the company for 5g communication has achieved mass production and has been recognized by many customers, further improving the performance and moving towards high-end; VLP copper foil has been produced on a small scale and is continuously promoting the progress of mass production. In the field of lithium copper foil, the company has successfully developed 4.5 μ M lithium battery copper foil products, product performance has met the requirements of high-end products in the market, 6 μ M high strength and high ductility lithium copper foil has also made a breakthrough in performance. At the same time, the company has improved and optimized the existing production processes of the products such as the and HPS, greatly reducing the production cost and continuously improving the product performance; The copper foil for flexible sector developed by the company realizes mass production and is put into market application in batches; In addition, the company has continuously strengthened the research and development of high-end products such as extremely low profile electronic copper foil for high-frequency and high-speed PCB and extremely thin copper foil for carrier sector, so as to enrich the product structure in high-end field. With the continuous strengthening and upgrading of the company’s R & D and innovation capability, the adjustment and optimization of product structure, and the continuous updating and upgrading of technical system, the company has formed a core technology matching the development of downstream industries, fully meeting the customization requirements of various special new materials for copper foil, and promoting the continuous convergence of the company’s customer structure to the high end. In the future, the company will continue to increase R & D and innovation, aim at high-end fields and strive to achieve “import substitution”.
2. New projects have been steadily promoted, and the layout of high-end production capacity has been accelerated
In November 2020, the company’s “phase II of high-precision electronic copper foil project with an annual output of 8000 tons” was officially put into operation, and the new capacity of the project was released in 2021. During the reporting period, the company’s copper foil production capacity reached 20000 tons / year, and the copper foil production capacity increased significantly.
With the recovery of the end consumer market and the increasing demand, the company took advantage of the trend and actively grasped the industrial opportunities. In February 2021, the company signed a cooperation agreement with Yulin Municipal government and Guangxi Yuchai Industrial Park, and plans to invest 12.26 billion yuan to build a project with an annual output of 100000 tons of high-precision electronic copper foil and 10 million high-end core sectors in Yulin, Guangxi. At present, the construction of phase I of the base is progressing steadily, and it is expected that some pilot production will be carried out in 2022. Through the implementation of the above projects, the company will rapidly increase the production capacity of high-end products such as RTF copper foil, VLP copper foil, HVLP copper foil, ultra-thin, ultra-thin, high tensile lithium battery copper foil, high-frequency and high-speed copper clad laminate, improve the product structure, and significantly drive the overall development of the company
Improve the system process capability and process level, and consolidate the leading position in the industry.
3. Based on industry university research cooperation, continue to improve the core competitiveness of products
The company always adheres to the concept of innovation and development, adheres to independent innovation, continues to deepen industry university research cooperation and continuously improve its core competitiveness. Further deepen the industry university research cooperation with scientific research institutions such as Shanghai Jiaotong University, South China University of technology, Harbin University of technology, Jiaying College and Meizhou Industrial Research Institute of Guangdong Academy of Sciences, rely on the strong theoretical technology and rich research results of scientific research institutions, boost the process improvement of the company’s process, R & D and industrialization of new products, and strive to realize import substitution.
During the reporting period, the company, together with scientific research institutions and industrial chain partners, applied for and approved the establishment of a high-performance copper foil R & D center. At the same time, the company also actively participated in the national high-performance copper foil R & D projects to further improve the overall R & D strength of the company. In addition, the company continues to carry out in-depth industry university research cooperation, promote technicians to enter colleges and universities for training and exchange, expand the company’s R & D team, and continuously improve the core competitiveness of the company’s products.
4. Deeply cultivate high-quality customers and continuously broaden the moat
In 2021, with the high growth rate of global demand for new energy vehicles and the gradual recovery of the impact of the epidemic, as well as the rapid development of emerging fields such as 5g, IDC, photovoltaic and energy storage, the supply and demand of the copper foil industry was tight, driving the continuous rise of copper foil processing fees. The copper foil industry continued the high boom growth trend since the second half of 2020. The company seized the market opportunity and realized an operating revenue of 2472378300 yuan, a year-on-year increase of 93.49%; The net profit attributable to the shareholders of the listed company was 718859 million yuan, a year-on-year increase of 234.84%; The net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses was 1 Guangzhou Grg Metrology&Test Co.Ltd(002967) million yuan
