Section I important tips, contents and definitions
The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee that the contents of the annual report are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities.
Huang shanbing, the person in charge of the company, Shen Xinxin, the person in charge of accounting, and Zhu Ying, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in this annual report.
All directors have attended the meeting of the board of directors to consider this report.
1、 Management and human resources risk. The company’s business is in the stage of rapid development. After the implementation of the fund-raising investment project, the expansion of assets and business scale will put forward higher requirements for the company’s management and human resources demand, the company’s management and sales personnel will increase, the technicians and production line workers will increase significantly on the existing basis, and the labor cost of China’s manufacturing industry will increase year by year. The company has the risk of insufficient human resources and rising human costs; At the same time, the expansion of the company’s business and asset scale will challenge the company’s existing management system and management system. If the company’s management system and management system cannot adapt to the expanded business and asset scale, the company will face operation and management risks.
2、 The risk of intensified market competition. Internationally renowned large semiconductor companies account for about 70% of China’s semiconductor market. There are many local power semiconductor discrete device manufacturers in China, but they are mainly concentrated in the OEM level of packaging products, which is far from the international technical level. The company has a business system integrating R & D, design, production and sales of power semiconductor chips and devices. Its main competitors are international well-known large semiconductor companies. With the expansion of the company’s sales scale, the company has formed an increasingly fierce market competition relationship with international large semiconductor companies, which intensifies the company’s competitive risk in the market.
3、 Increased risk of asset depreciation and amortization. As the company’s non-public stock offering and investment projects are put into use or gradually put into use, the scale of fixed assets will increase accordingly, and the depreciation and amortization of assets will increase. If the production capacity cannot be released in time to produce benefits, it will have an adverse impact on the company’s business.
4、 Risk that the progress of key R & D projects and projects under construction is less than expected. In recent years, the company has been committed to broadening the industrial chain and product transformation and upgrading, and has increased R & D investment under the guidance of key R & D projects. The construction of major projects of the company has been started. As the products of foreign advanced semiconductor manufacturers have more brand effect and key technology reliability and stability, the customer has a long period of project approval or demonstration (replaceable) for new products. During the implementation of project construction, there are also uncertainties in laws, regulations, policies, performance ability, technology, market and other aspects, and may also be affected by major changes in the external environment and unexpected events, And other force majeure factors, the company may face the risk that the progress of key R & D projects and projects under construction is not as expected.
5、 Risk of raw material supply and outsourced processing. The company’s main business is IDM, supplemented by fabless + sealing and testing. The MOS business of the company adopts fabless + sealing and testing mode, in which all chips (mainly 8 inches) are outsourced, and the sealing and testing is mainly self supplied, supplemented by outsourcing. At present, the proportion of MOS business in the main business of the company is 29.57%, which will be significantly improved in the future. Due to the high threshold of investment in wafer factories and long industrialization cycle, most product companies in the semiconductor industry have adopted fabless OEM mode over the years, light asset operation, and focused on product R & D and market promotion, which is in line with the characteristics of vertical division of labor in the semiconductor industry. However, the deficiency is that there is uncertainty in the capacity supply guarantee of wafer factories and packaging and testing factories. Especially under the situation of sharp rise in semiconductor demand in recent years, the company is facing a certain degree of risk of shortage of raw material supply, stability of outsourcing processing and rising cost.
6、 Risks in the use of raised funds. The investment projects with raised funds involve the expansion and upgrading of the company’s business and product structure, and face all-round challenges such as strategic layout, resource reconfiguration and operation management optimization. Based on the current market environment, industrial policies, technological innovation and other uncertain or uncontrollable factors, during the implementation of the project, there may be project delay, investment overrun, changes in the market environment, as well as the market development, product customer acceptance and sales price after the project is completed and put into operation may be different from the company’s prediction, and the investment project may not be implemented normally or achieve the expected objectives.
7、 Risks of changes in the international political and economic environment. Since 2018, the international environment has been complex and changeable. The United States has imposed tariffs on many emerging high-tech products in China. Among them, the semiconductor industry is one of the key industries in which the United States has imposed tariffs. The company’s main products, power semiconductor chips and power semiconductor devices, have been included in the list of US $50 billion tariffs imposed on China by the United States. During the reporting period, the company’s export business income and proportion to the United States were very small, but the Sino US trade war may indirectly affect the company’s future operating performance by affecting the export business of some Chinese customers of the company. In the face of the complex and changeable international environment and the upgrading of trade friction, the company is facing more adverse factors in the external environment. If the trade friction continues to escalate, it will have a certain adverse impact on the company’s business activities.
8、 Environmental risks. The manufacturing process of power semiconductor discrete devices involves a variety of chemical processes, which will produce pollutants dominated by wastewater and waste gas. Environmental protection has been paid more and more attention by the Chinese government. We cannot rule out the possibility that the company’s environmental protection expenses will increase due to the improvement of environmental protection standards in the future. In addition, if environmental accidents occur in the production process due to management negligence, force majeure and other factors, it may cause certain damage and adverse consequences to the environment. In case of environmental protection accidents, environmental pollution and violation of environmental protection laws and regulations, it will have an adverse impact on the company’s reputation and daily operation.
9、 Epidemic risk. Affected by the risk of New Coronavirus epidemic, various countries have taken different measures to fight the epidemic. The situation of COVID-19 epidemic prevention and control in China has stabilized, showing the general characteristics of sporadic sporadic and local cluster outbreaks, but there is still great uncertainty. Due to the wide range of the epidemic, the production, operation and consumer markets of various industries will be affected, and the company’s suppliers, customers and other stakeholders will also be affected and exposed to varying degrees.
The profit distribution plan approved by the board of directors is: the company plans to distribute cash dividends of RMB 1.26 (including tax) for every 10 shares based on the number of shares to be distributed on the equity registration date when the profit distribution plan of 2021 is implemented. As of the trading day before the 21st Meeting of the 4th board of directors (i.e. April 18, 2022), the total share capital of the company was 736723290 shares, and the number of shares to be distributed after the repurchase and cancellation of restricted shares was 736666290 shares. Based on this, a cash dividend of RMB 1.26 (including tax) was distributed to all shareholders for every 10 shares, no bonus shares were given, and no accumulation fund was converted into share capital, The total cash dividend to be distributed is 9281995254 yuan (including tax).
catalogue
Section I important tips, contents and definitions Section 2 company profile and main financial indicators 12 section III Management Discussion and Analysis Section IV corporate governance Section V environmental and social responsibility 123 section VI important matters Section VII changes in shares and shareholders Section VIII preferred shares 173 section IX related information of bonds 174 section x financial reporting one hundred and seventy-seven
Directory of documents for future reference
1、 Accounting statements with the signatures and seals of the legal representative, the person in charge of accounting and the person in charge of accounting institutions.
2、 The original of the audit report with the seal of the accounting firm and the signature and seal of the certified public accountant. 3、 Originals of all company documents and announcements disclosed on cninfo.com during the reporting period. 4、 The original of the 2021 annual report signed by the legal representative of the company. 5、 Other relevant information. The place where the above documents for future reference are prepared: the office of the Secretary of the board of directors of the company.
interpretation
Explanatory item refers to the explanatory content
Jiangsu Jiejie Microelectronics Co.Ltd(300623) , the company and the company refer to Jiangsu Jiejie Microelectronics Co.Ltd(300623)
Jiejie semiconductor refers to jiejie Semiconductor Co., Ltd
Jiejie Shanghai refers to Jiangsu Jiejie Microelectronics Co.Ltd(300623) (Shanghai) Technology Co., Ltd
Jiejie Shenzhen refers to Jiangsu Jiejie Microelectronics Co.Ltd(300623) (Shenzhen) Co., Ltd
Jiejie new material refers to Jiangsu jiejie semiconductor New Material Co., Ltd
Jiejie Wuxi refers to Jiangsu Jiejie Microelectronics Co.Ltd(300623) (Wuxi) Technology Co., Ltd
Jiejie Nantong technology refers to Jiangsu Jiejie Microelectronics Co.Ltd(300623) (Nantong) Technology Co., Ltd
Jiejie Research Institute refers to Jiangsu jiejie Semiconductor Technology Research Institute Co., Ltd
Jiangsu Yisi refers to Jiangsu Yisi Technology Co., Ltd
Zhongchuang investment refers to Nantong Zhongchuang Investment Management Co., Ltd
Jiejie investment refers to Jiangsu jiejie Investment Co., Ltd
Rongjun investment guide tongrongjun Investment Management Co., Ltd
A device with independent and complete functions composed of a single semiconductor transistor cannot be subdivided in function. For example: diodes, triodes, bipolar power transistors, semiconductor discrete devices refer to
(GTR), thyristor (thyristor), field effect transistor (junction field effect transistor, MOSFET), IGBT, IGCT, light emitting diode, sensitive device, etc.
Semiconductor discrete devices capable of withstanding high voltage or large current are mainly used for electric energy variable power semiconductor discrete devices
Change and control.
New micro components without leads or short leads, also known as chip components, are suitable for installation on new chip components, which refer to printed boards without through holes. They are special components of SMT. It has the characteristics of small size, light weight, high installation density, high reliability, good vibration resistance and good high-frequency characteristics.
Integrating optical devices and electrical devices into modules or components with certain photoelectric functions, which is referred to as discrete photoelectric hybrid integrated circuit
The tube cores of the components are integrated together, which is called “photoelectric hybrid integration module”.
It refers to the technology of using power semiconductor discrete devices to transform and control electric energy. Power electronic technology refers to the “power” power transformed by electronic technology, which can be as large as hundreds of megawatts or even gigawatts, or as small as several watts or even less than one watt.
Integrated circuit is an integrated circuit, which uses a certain process to interconnect the transistors, resistors, capacitors, inductors and other components and wiring required in a circuit, make them on a small IC finger block or several small pieces of semiconductor chips or dielectric substrates, and then package them in a tube shell
