On April 8, China Wafer Level Csp Co.Ltd(603005) released its annual report. In 2021, it achieved a revenue of 1.411 billion yuan, a year-on-year increase of 27.88%; The net profit attributable to shareholders of listed companies was 576 million yuan, a year-on-year increase of 50.95% China Wafer Level Csp Co.Ltd(603005) performance has maintained rapid growth for three consecutive years, business and profit scale have achieved leapfrog development, and handed over an excellent report card.
While the performance grows rapidly, China Wafer Level Csp Co.Ltd(603005) ‘s profit margin remains excellent. According to the data, the gross profit margin, net profit margin and return on net assets of the company reached 52.29%, 41.01% and 15.92% respectively in 2021. Thanks to its continuous R & D and innovation investment and significant technology leading position, the high-level profitability of the company has accumulated R & D investment of 430 million yuan in recent three years, accounting for an average of 14% of revenue.
The company has excellent asset structure and abundant cash flow capacity. According to the annual report data, the company’s total assets are 4.462 billion yuan, of which 2.27 billion yuan is monetary assets such as bank deposits, accounting for 52% of assets. Other assets are also operational assets. The company’s asset liability ratio is only 11%, without debt pressure and burden, and has strong expansion ability in the future.
In recent years, with the trend development and improvement of 5g, aiot and computational algorithms, the application scenarios of sensor products represented by cameras have become more and more abundant, which has promoted the continuous improvement of the penetration of mobile phone multi camera applications, the continuous growth of aiot markets such as security monitoring digital, the gradual popularization of automobile camera applications and the rapid rise of machine vision applications, resulting in the continuous and rapid growth of the optical sensor segment market that China Wafer Level Csp Co.Ltd(603005) focuses on.
Through continuous technological innovation, market development and expansion, industrial chain extension, internal efficiency tapping and other measures, the company has continuously improved the technology and process service capacity, capacity scale and production management efficiency, and effectively grasped the market opportunities.
In particular, through the construction of the raised investment project “integrated circuit 12 inch TSV and heterogeneous integrated intelligent sensor module project”, China Wafer Level Csp Co.Ltd(603005) has achieved mass production in the field of automotive camera application, and completed the construction of a new production line.
The annual report also revealed that China Wafer Level Csp Co.Ltd(603005) in the field of automotive applications, the layout is not only here, but also includes wafer level micro optical device (WLO) business, high-power gallium nitride technology, etc. With the development trend of automotive intelligence, electrification and networking, sensors represented by cameras, human vehicle intelligent interactive optical devices and other products will be widely used and popularized in the automotive field, which is expected to bring new industrial development opportunities to the company.
It is worth noting that the company’s profit distribution plan for 2021 is to send 3 shares for every 10 shares and increase 3 shares by 2.83 yuan. The dividend method of combining cash with cash distribution and share conversion shows that China Wafer Level Csp Co.Ltd(603005) pays attention to the dividend return of investors and has confidence in future development.
