Company code: Guangdong Ellington Electronics Technology Co.Ltd(603328) company abbreviation: Guangdong Ellington Electronics Technology Co.Ltd(603328) Guangdong Ellington Electronics Technology Co.Ltd(603328)
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. 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. 3. All directors of the company attend the board meeting. 4 Dahua Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
According to the company's future development needs and considering the return of shareholders, and in combination with the company's cash flow, the 14th meeting of the Fifth Board of directors of the company approved the profit distribution plan: it is proposed to distribute a cash dividend of 0.68 yuan (including tax) to all shareholders for every 10 shares based on the total share capital on the equity registration date when the profit distribution is implemented. In 2021, the surplus reserve and capital reserve will not be converted into share capital. The above profit distribution plan must be submitted to the 2021 annual general meeting of shareholders of the company for deliberation.
Section II basic information of the company
1 company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Guangdong Ellington Electronics Technology Co.Ltd(603328) Guangdong Ellington Electronics Technology Co.Ltd(603328) not applicable
Contact person and contact information secretary of the board of directors securities affairs representative
Name: He Gang, Guo Yanting
Office address: Gaoping Industrial Zone, Sanjiao Town, Zhongshan City, Guangdong Province Guangdong Ellington Electronics Technology Co.Ltd(603328) board office, 88 Guangdong Ellington Electronics Technology Co.Ltd(603328) board office, Gaoping Industrial Zone, Sanjiao Town, Zhongshan City, Guangdong Province
Tel: 076022813684
E-mail [email protected]. [email protected].
2. Introduction to the company's main business in the reporting period
(I) basic information of the industry
1. Basic information and development stage of the company's industry
As the basic component of electronic equipment, printed circuit board is known as "the mother of electronic products". The downstream industries of printed circuit board cover computer and its surroundings, consumer electronics, network communication, medical treatment, automotive electronics, military, Aerospace Hi-Tech Holding Group Co.Ltd(000901) products and other fields. At present, there are no mature technologies and products that can replace printed circuit board. Irreplaceable is one of the elements for the steady development of printed circuit board manufacturing industry. After decades of development, PCB industry has become a global industry. According to prismark's estimation, the annual output value of global pcb2021 has reached US $80.449 billion, accounting for more than 30% of the total output value of electronic components, which is the industry with the largest proportion in the subdivided industry of electronic components.
2. Industry cycle characteristics
The downstream application fields of the printed circuit board industry are relatively extensive. Especially with the diversification of the downstream industry in recent years, the printed circuit board is less affected by a single industry. Therefore, the periodicity of the printed circuit board industry is mainly reflected in the fluctuation with the fluctuation of macro-economy. 3. Industry position of the company
The company has been deeply engaged in the printed circuit board industry for many years. After years of market expansion and brand management, it has become one of the important brands in the printed circuit board industry, with high industry popularity and high-quality customer recognition. Relying on its comprehensive advantages in fine management, process improvement, technological innovation, key customer concentration and location advantages, the company has been selected as one of the world's top 100 PCB manufacturing enterprises published by the industry research institution n.t.information and one of China's top 100 PCB enterprises published by the China Printed Circuit Industry Association (CPCA) for many consecutive years, and has been rated as an excellent national brand enterprise by CPCA.
(II) significant impact of newly promulgated laws, administrative regulations, departmental rules and industrial policies on the industry
Electronic information industry is a strategic, basic and leading industry of national economy, and PCB, as the "mother of electronic products", is an indispensable part of electronic information industry. During the reporting period, relevant national departments successively issued some policies and regulations, which provided a good policy environment for the sustainable development of PCB industry.
1. In January 2021, the action plan for the development of basic electronic components industry (20212023) issued by the Ministry of industry and information technology made it clear that by 2023, the total sales of electronic components will reach 2100 billion yuan, further consolidating China's position as a major producer of global electronic components; Form a number of electronic component enterprises with international competitive advantages, and strive to make the revenue scale of 15 enterprises exceed 10 billion yuan; In the "high-end promotion action of key products", it is clear to focus on the development of high-frequency, high-speed, high-rise and high-density printed circuit boards, integrated circuit packaging substrates and special printed circuit boards.
2. On July 1, 2021, the emission standard of water pollutants for electronic industry (GB 397312020) issued by the Ministry of ecology and environment was officially implemented, which is the first emission standard of water pollutants in the electronic industry, covering six categories of electronic product manufacturing industries, such as electronic special materials, electronic components, printed circuit boards, semiconductor devices, displays and optoelectronic devices, and electronic terminal products. With this standard, the water pollutant discharge of PCB enterprises will no longer be classified into the electroplating industry. (I) main business, main products and uses of the company
The company's main business is the manufacturing and sales of high-precision, high-density double-layer and multi-layer printed circuit boards. The company's circuit board can be divided into double-sided board, four layer board, six layer board, eight layer board and above according to the number of layers. The products are widely used in downstream industries such as automotive electronics, communication equipment, consumer electronics, computer, medical industrial control and so on.
(II) main business model of the company
1. Procurement mode
The company strictly controls the selection procedure of suppliers and the purchase behavior of raw materials according to the procurement procedure formulated internally. For raw materials with different characteristics, the company adopts different ways to purchase: for general raw materials, such as copper balls, chemical materials and general auxiliary materials, the company purchases according to the expected output; For copper clad laminate, copper foil, resin cloth and other materials, the company purchases them according to the actual order. The company also forecasts the number of customer orders according to historical data, and prepares an appropriate amount of safety stock accordingly. From the perspective of raw material procurement location, the company's procurement behavior can be divided into domestic procurement and overseas procurement. Whether it is domestic procurement or overseas procurement, the company will directly negotiate with suppliers and issue purchase orders to them.
2. Production mode
The company basically implements the production mode of setting production according to sales. After signing orders with customers, the company arranges production according to the contents of orders. This production mode helps the company control costs and improve the efficiency of capital utilization. In addition, in order to make full use of the company's production capacity, the company prepares a small amount of goods according to the previous product sales historical data and combined with the specific needs of customers. The company has formulated the work instruction for order processing and established a set of processes for fast and effective processing of customer orders to ensure timely production and delivery to meet customer needs.
3. Sales model
In terms of sales, the company has direct contact with customers, negotiate with customers on product variety, quality, price and after-sales service, and sign orders. Part of the company's sales activities are conducted through customer transactions introduced by external sales consultants. The main processes are as follows: the sales consultants introduce customers to the company, the company directly negotiates and signs orders with customers, and the company pays commissions to the sales consultants after receiving the sales payment. From the perspective of consolidation, the company's product sales are divided into domestic sales and export sales.
(III) market position of the company
The company's products have reliable quality, high industry popularity and high recognition of key customers, and have been recognized by the above customers for many times, such as "best quality award", "excellent quality award", "gold supplier", "excellent supplier", etc. After years of accumulation, the company has a wide range of customers and many high-quality customers. The main customers include Continental, Flextronics, Jabil, Ningbo Joyson Electronic Corp(600699) , Valeo, APTIV, Huawei, Shenzhen Kaifa Technology Co.Ltd(000021) , selcom, Wistron, Lite on, Bose and other well-known enterprises at home and abroad, all of which are leaders in their respective industries.
(IV) main factors affecting the company's performance during the reporting period
During the reporting period, the company achieved an operating income of 2908117600 yuan, an increase of 12.54% year-on-year; The net profit was 1506078 million yuan, a year-on-year decrease of 32.91%; The comprehensive gross profit margin was 13.51%, a year-on-year decrease of 6.41 percentage points. During the reporting period, the net profit of the company decreased significantly, mainly due to the sharp rise in the price of main raw materials in the current period, resulting in the decline of product gross profit margin. The main factors affecting the company's profit performance during the reporting period include sales volume, sales price, raw material price, RMB exchange rate and product yield.
1. Sales volume and sales price: during the reporting period, with the weakening of the impact of the global covid-19 epidemic, the company's order volume gradually recovered, the shipment volume increased, and the operating revenue increased by 12.54% over the same period; During the reporting period, due to the change of product structure, the average RMB sales unit price of the company's products decreased by 1.58% year-on-year.
2. Price of raw materials: the raw materials required for the company's production mainly include copper clad laminate, copper foil, copper ball, resin sheet and gold potassium cyanide (gold salt). During the reporting period, the price of the company's main raw materials, except for the slight decrease in the price of gold potassium cyanide, the prices of the above other main raw materials increased significantly, resulting in a year-on-year increase of 21.55% in operating costs.
3. RMB exchange rate: during the reporting period, the company's product export operating income was 22057806 million yuan, most of which were settled in US dollars. Due to the fluctuation of RMB exchange rate, the company incurred exchange loss of 264805 million yuan during the reporting period.
4. Product yield: due to the complex process of printed circuit board and many links involved, any loophole in any link will cause product scrap and reduce the yield. During the reporting period, the technical difficulty of the company's products increased, and the quality inspection was also strengthened. Thanks to the improvement of the company's internal management, the improvement of the automation level of the production line and the increase of the investment in advanced equipment for quality control, the product yield was further improved. In the future, the company will continue to strictly control the production process of products, increase the automation construction and investment of production equipment, deepen R & D and innovation, improve technical capacity, and strive to improve the yield of products. 3 main accounting data and financial indicators of the company 3.1 main accounting data and financial indicators in recent three years
Unit: yuan currency: RMB
2020 is better than 2019
Last year in 2021
Adjustment before adjustment and adjustment before adjustment.
(%)
Total assets 46172012054,258800,8 4,258800,8 8.42 4,394148,318. 4,394148,318 66 89.88 89.88 50 .50
Belonging to
Municipal company shares 33689013413,319676,2 3,319676,2 1.48 3,566414,428. 3566414428 East's net assets 19 13.92 13.92 75.75
Operating income 29081175982,583999,4 2,451037,1 12.54 3,135375,924. 3,010713,760 26 44.94 94.63 75 .59
Belonging to
Municipal company shares 15060776404224493714224493714 -32.91518487302825184873028 east net profit. 97.97 2
