Company code: 688259 company abbreviation: chuangyao technology chuangyao (Suzhou) communication technology 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 for details of major risks, please refer to "(II) risk factors" in Section IV "discussion and analysis of operation" of this report. 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 Zhonghui Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 6 the company was not profitable when it was listed and has not yet achieved profitability □ yes √ No 7 the profit distribution plan or the plan for converting provident fund into share capital adopted by the board of directors in this reporting period was audited by Zhonghui Certified Public Accountants (special general partnership). In 2021, the company realized a net profit attributable to the shareholders of the listed company of RMB 7868883961 and the parent company realized a net profit of RMB 7940306956; At the end of the reporting period, the profit available for distribution of the parent company was 12664491375 yuan. The profit distribution plan is as follows: the listed company plans to distribute cash dividends of RMB 3.00 (including tax) to all shareholders for every 10 shares. The company was initially listed on January 12, 2022. After listing, the total share capital of the company is 80000000 shares. Based on this calculation, the total cash dividend to be distributed is RMB 2400000000 (including tax). The total cash dividends of the company in this year accounted for 30.50% of the net profit attributable to shareholders of Listed Companies in this year. From the date of adoption of the resolution of the board of directors to the date of equity distribution and equity registration, if the total share capital of the company changes, the company will maintain the distribution proportion per share unchanged and adjust the total profit to be distributed accordingly. The profit distribution plan has been deliberated and approved at the 19th meeting of the first board of directors and the 9th meeting of the first board of supervisors, 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 stock abbreviation before stock code change
And sector
RMB common stock of Shanghai Stock Exchange Kechuang board chuangyao technology 688259 is not applicable
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 Tan Yuxiang Zhan Yiyu
Office address: unit 133, phase 1, Jinjihu Avenue Science Park, international Suzhou Industrial Park, No. 1355, Jinjihu Avenue, Suzhou Industrial Park, unit 133, phase 1, International Science Park, No. 1355
Tel: 051262559288
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
The company is a professional integrated circuit design enterprise, mainly focusing on the R & D, design and sales of communication core chips, and providing application solutions and technical support services. The company is committed to applying the continuously accumulated platform technologies such as physical layer communication algorithm and software, analog circuit design, digital analog hybrid large-scale SOC chip design and layout design in different business fields in combination with market demand, and has developed communication chip and solution business, chip layout design service and other technical services. Among them, communication chip and solution business specifically includes access network communication field Application in the field of power line carrier communication.
The company is a national high-tech enterprise and Jiangsu provincial engineering technology research center. It is a member of China Communication Standardization Association. Since its establishment, the company has been deeply engaged in the communication technology field related to access network communication, committed to providing better broadband access and intelligent home communication solutions, realizing the localization of key technologies and chip products, and quickly cut into the field of power line carrier communication by virtue of technology accumulation. It is an enterprise that has developed and mastered broadband access technology and broadband power line carrier communication technology based on VDSL2 technology in China earlier. At the same time, Relying on the excellent layout design technology accumulated in the R & D and design of communication chips, the company has expanded the chip layout design business, and has always been driven by R & D and innovation to continuously promote the evolution of technology. At present, the company has formed many core technologies in the aspects of algorithm and software related to power line carrier communication chip, algorithm and software related to access network chip, analog circuit design, digital analog mixing and layout design. The main products and technologies are at the advanced level in China. The company has excellent digital analog hybrid SOC chip whole process design ability, and has built a comprehensive and experienced R & D team. It is one of the few large-scale companies in China with physical layer core communication algorithm ability and large SOC chip design ability, as well as 65nm / 40nm / 28nm CMOS process node and 14nm / 7Nm / 5nm FinFET advanced process node physical design ability.
During the reporting period, the composition of the company's main business income is as follows:
Unit: 10000 yuan
20212020
project
Amount proportion amount proportion
1、 Communication chip and solution 5574486 87.01% 1224437 58.44% case business
Power line carrier communication chip 607796 9.49% 557629 26.61% and solution business
Among them: 566903 8.85% 553863 26.43% mass production services based on IP authorization
IP design and development service 326.25 0.51% 9.43 0.05%
Chip and module sales 82.68 0.13% 28.23 0.13%
Access network chip and solution 4966690 77.52% 666808 31.83% solution business
Including: chip sales 3978952 62.11% 894.82 4.27%
Terminal equipment sales 381804 5.96% 218044 10.41%
Technology development services 605934 9.46% 359281 17.15%
2、 Chip layout design services 832137 12.99% 870780 41.56% and other technical services
Including: chip layout design service 828000 12.92% 863622 41.22%
Other technical services 41.37 0.06% 71.58 0.34%
Total 6406623 100.00% 2095217 100.00%
Compared with last year, the power line carrier communication chip and solution business achieved a revenue growth of 9.00%. Among them, the mass production service based on IP authorization is limited by the impact of production capacity, which is basically the same as last year. Compared with last year, the IP design and development service increased by 335828%, which is due to the acquisition of new customers and the overall development cycle of the project.
Based on the continuous accumulation of the company's access network technology and driven by the demand of the downstream market, the company's access network business has added customers such as China Guangdong Internet, Shenzhen Daxin and Xi'an leiye since the second half of 2020. Among them, the company provides access network related technical licensing services to China Guangdong Internet, and sells access network chips to Shenzhen Daxin and Xi'an leiye. Shenzhen Daxin and Xi'an leiye are designated customers of China Guangdong Internet, which are purchased from the company and sold to downstream communication equipment manufacturers for distribution customers of the company. In 2021, after China Guangdong Internet, Shenzhen Daxin and Xi'an leiye confirmed the revenue from order delivery, the access network product line business gained 644.85%. The sales revenue of access network terminal equipment increased by 75.10%, which was due to the increase in sales of terminal equipment mt992 to British Telecom. The revenue from chip layout design services and other technical services decreased by 4.44% compared with last year, which was affected by the reduction of project team personnel and the project cycle of key customers. During the reporting period, the development of new customers of the company's chip layout design services has a positive impact on the overall revenue. It is expected that the overall business will maintain steady development in 2022, benefiting from the high gross profit margin of the business of new customers, and will also have a positive impact on the improvement of the overall gross profit margin of chip layout design services and other technical services. （2） Main business model
The company is an integrated circuit design enterprise mainly adopting fabless mode, focusing on the R & D, design and sales of communication core chips, and providing application solutions and technical support services. The company itself is not directly engaged in wafer manufacturing and packaging testing, and the relevant links are mainly entrusted to professional wafer manufacturers and packaging testing manufacturers.
1. Profit model
The company's main business includes communication chip and solution business, chip layout design service and other technical services. The specific profit model is as follows:
(1) Communication chip and solution business
① Power line carrier communication chip and solution business
The company's power line carrier communication chip and solution business specifically includes IP design and development services, mass production services based on IP authorization and power line carrier communication chip and module sales. For IP design and development services and mass production services based on IP authorization, on the one hand, the company carries out the design and development of chip core IP for customers according to their needs and charges a fixed design and development fee. On the other hand, for chips using IP provided by the company, the company provides mass production services for customers at the chip mass production stage and charges a mass production service fee according to the chip shipment, The pricing of mass production service fee mainly considers the company's IP licensing fee and the service cost of the company's entrusted wafer manufacturer or package testing manufacturer; For the sales of power line carrier communication chips and modules, the company independently completes the R & D, design and sales of chips and modules, and mainly obtains the sales revenue according to the sales quantity of products.
② Access network chip and solution service
The company's access network chip and solution business specifically includes access network chip, access network terminal equipment sales and technology development services. Among them, the sales of access network chips and access network terminal equipment mainly obtain the sales revenue according to the sales quantity of products, and the technology development service mainly collects the technology development service fee, technology maintenance service fee or technology license fee according to the specific service content provided by the company for customers.
(2) Chip layout design services and other technical services
There are two charging modes for the company's chip layout design service: one is to charge customers regularly according to the service period according to the scale, qualification structure and service effect of the service team, and the other is to charge customers according to the specific service content agreed in the contract. Other technical services are mainly charged according to the specific service content provided by the company.
2、
