Securities code: Netac Technology Co.Ltd(300042) securities abbreviation: Netac Technology Co.Ltd(300042) Announcement No.: 2022027 Netac Technology Co.Ltd(300042) 2021 annual report summary
1、 Important tips
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 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
The audit opinion of Dahua Certified Public Accountants (special general partnership) on the company’s financial report this year is: standard unqualified opinion.
Changes of accounting firm during the reporting period: the accounting firm of the company changed from to Dahua accounting firm (special general partnership) this year.
Tips on non-standard audit opinions
□ applicable √ not applicable
The company was not profitable at the time of listing and is not profitable at present
□ applicable √ not applicable
The profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors
√ applicable □ not applicable
The company’s profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 200400000 as the base, distribute cash dividend of 0.50 yuan (including tax) to all shareholders for every 10 shares, give bonus shares of 0 shares (including tax), and transfer capital reserve to all shareholders for every 10 shares.
Profit distribution plan for preferred shares in the reporting period adopted by the board of directors
□ applicable √ not applicable
2、 Basic information of the company 1. Company profile
Stock abbreviation Netac Technology Co.Ltd(300042) stock code Netac Technology Co.Ltd(300042)
Shenzhen Stock Exchange
Contact person and contact information: Secretary of the board of directors
Name: Yu Yana
Office address: 16 / F, Langke building, No. 10, Gaoxin South Sixth Road, South District, high tech Zone, Nanshan District, Shenzhen
Fax 07552672 7575
Tel: 07552672 7600
E-mail [email protected].
2. Main business or product introduction during the reporting period (I) main business
The company is the inventor of flash disk, focusing on the R & D, production and sales of storage products, and is committed to providing solutions for the global flash application field. Since its establishment, the company has realized diversification and orderly expansion through core technology and independent innovation ability. At present, its products have covered the fields of solid-state storage, dynamic storage, embedded storage and mobile storage. (II) main products and uses
The company is mainly engaged in solid-state storage, DRAM dynamic storage and mobile storage products. Solid state storage and DRAM dynamic memory are mainly used for data storage and system memory buffer storage of desktop computers, laptops and other products. Mobile storage products are mainly used for the storage needs of portable electronic devices, such as laptops, tachographs, cameras and UAVs. (III) business model
The company’s product operation obtains revenue from the R & D, production and sales of solid-state storage, DRAM dynamic storage, embedded storage and mobile storage products, and the patent operation obtains patent licensing revenue through global patent litigation, patent customs protection and negotiation. (IV) main performance drivers
In addition to being greatly affected by the price fluctuation of raw materials, the main driving factors of product operation are the functional advantages of the product itself, the number of customers in the sales channel and the high efficiency of product operation. (V) industry development
The company belongs to the storage industry. As a basic part of electronic system, semiconductor memory is one of the most widely used electronic devices in modern information industry. Since its establishment, the company has been mainly engaged in the R & D, production and sales of storage products. At present, it has become a professional brand and manufacturer of storage products in China. Based on the increasing demand for storage products in the current era of data, the company further expanded its product line to three areas: mobile storage, solid-state storage and dynamic storage; In addition, the company has increased its efforts in the fields of personal computers, notebooks, industrial storage products and information innovation, realized the interconnection of multiple measures, and strengthened the popularity of the company in the field of storage products. (1) The mainstream products in the semiconductor storage industry are NAND flash and DRAM
NAND flash and DRAM dominate the semiconductor storage market. NAND flash provides a low-power and high-performance solution for high-capacity solid-state storage. In recent years, with the continuous development of NAND flash technology, the economic benefits of unit storage cost are continuously optimized, and the user needs and application scenarios are continuously expanded. As a high-density volatile memory, DRAM can achieve a good balance between storage density and read-write speed. It is mainly used as a temporary storage device for CPU processing data. It is widely used in mainstream application markets such as smart phones, personal computers, servers and so on. According to the latest data of IC insights, the total sales volume of the global semiconductor IC market reached US $509.8 billion in 2021, an increase of 25% compared with 2020, including 34.6% growth of semiconductor memory, 30.9% growth of analog chip, 27.3% growth of Logic Semiconductor and 13.5% growth of microprocessor. The company’s products are mainly developed around NAND flash and DRAM product lines. (2) The global semiconductor storage industry is mainly dominated by American, Japanese and Korean enterprises
The upstream of the memory industry chain is mainly composed of storage product parts manufacturers such as original storage wafer factory and master chip factory. The design and manufacturing industry of storage wafers requires high technology and capital. The global leading enterprises that entered the memory field in the early stage continuously accumulated market competitive advantages through huge capital investment, and gradually developed into a vertically integrated business model (IDM).
The global storage wafer market is dominated by a small number of enterprises in South Korea, the United States and Japan. According to the data of omdia (IHS Markit), the global nandflash market in 2020 was US $57.195 billion, dominated by six companies: Samsung Electronics, Kaixia, Western Digital, micron technology, SK Hynix and Intel. Among them, Samsung Electronics has a global market share of about 34%. In addition, SK Hynix was approved to acquire Intel NAND flash business in 2021, and the global nandflash market will be further concentrated; The global DRAM market is more concentrated than nandflash. In 2020, the global DRAM market was US $66.383 billion, dominated by Samsung Electronics, SK Hynix and micron technology. The competition pattern of global semiconductor storage industry is difficult to break in the short term. (3) The global storage industry has great development potential and widely used products
The development of storage products is positively related to the demand capacity of data units. With the deepening of the era of data, the capacity of a single storage unit is increasing, and the total amount of global data has entered the ZB era. According to the 2021 white paper on global storage market trends released by CFM flash market, driven by AI, autopilot, cloud computing, 5g and the Internet of things, a large number of memory and storage intensive applications will grow for a long time in the future, which will bring full growth potential to the future of the storage industry and further increase the replacement demand of consumers and industry customers for high-capacity and high transmission speed storage products, Promote the further development of the storage product industry. According to the latest data of IC insights, the total sales volume of the global semiconductor IC market reached US $509.8 billion in 2021, an increase of 25% compared with 2020, including 34.6% growth of semiconductor memory, 30.9% growth of analog chip, 27.3% growth of Logic Semiconductor and 13.5% growth of microprocessor.
According to the analysis of CFM flash memory market data, by 2025, the global nandflash capacity will rapidly increase from 410 billion GB in 2020 to 1481 billion GB, of which the demand for memory in mobile phone market will increase at a compound growth rate of 31%, the demand for memory in PC market will increase at a compound growth rate of 22%, and the demand for memory in data center market will increase at a compound growth rate of 39%. It can be seen that data center SSD will occupy an important development position in the future and is one of the driving forces for the future growth of nandflash market. (4) Chinese mainland storage industry has huge market share but insufficient technology development.
China is an important global storage consumer with a huge market share. IDC’s latest forecast data in 2021 shows that with the accelerated development of digital economy, China’s storage market will grow steadily in the next five years. During this period, CAGR (annual compound interest growth rate) will reach 12.6%, and the market scale will reach 62.4 billion yuan by 2025. Driven by the growing demand for memory from smart phones, PCs and data centers, the global nandflash capacity will grow at a growth rate of about 30% and DRAM capacity will grow at a growth rate of about 20% from 2020 to 2025.
According to the statistics of CFM flash memory market on solid-state disk, memory card, USB flash disk, mobile hard disk and memory module in the Chinese market, the channel market scale in China reached 40.8 billion yuan in 2020. Cfm flash memory market evaluates and analyzes the current online market performance of storage products through the data analysis of China’s main e-commerce platforms. The results show that at present, China’s online storage market is still dominated by overseas brands, of which American brands account for about 57%, Korean brands account for about 16%, Taiwan brands account for about 10%, Japanese brands account for about 1%, while mainland brands account for only about 15%.
In recent years, the Ministry of energy has issued the basic action plan for the development of electronic components and electronic components industry in 20212023, which has clearly supported the development of the national electronic components industry in 20212023. At the same time, with the development of electronic informatization, storage security has also risen to the national strategic position. For Chinese storage enterprises, it is undoubtedly a huge driving force for growth. As a Chinese enterprise storing products, the company benefited from the dividend support of the policy, gradually increased the production scale and capacity, continuously improved the production process and quality control, and steadily improved its business performance. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 125758214366117913360627 6.65% 108557037862
Net assets attributable to shareholders of listed companies 111898576746106351951749 5.22% 100458035520
20212020 year-on-year increase or decrease 2019
Operating income 191286172766149091655594 28.30% 11942346643
Net profit attributable to shareholders of listed companies 68850462167065221978 – 2.55% 7185205758
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of 49032569305443060002 – 9.92% 506 Hangxiao Steel Structure Co.Ltd(600477) 3
Net cash flow from operating activities 62956154371909466311 229.71% – 10783226062
Basic earnings per share (yuan / share) 0.3436 0.3526 – 2.55%
