Securities code: Dongguan Aohai Technology Co.Ltd(002993) securities abbreviation: Dongguan Aohai Technology Co.Ltd(002993) Announcement No.: 2022026
Dongguan Aohai Technology Co.Ltd(002993) 2021 annual report summary
1、 Important note: 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
Tips of non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital √ yes □ no
The company's profit distribution plan for ordinary shares reviewed and approved by the board of directors is: taking 235040000 as the base, distribute cash dividends of 2.00 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.
Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Dongguan Aohai Technology Co.Ltd(002993) stock code Dongguan Aohai Technology Co.Ltd(002993)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Lin Zheng, Jiang Chen
Office address: No.2, Yinyuan street, jiaoyitang, Tangxia Town, Dongguan City
Fax: 076986975555076986975555
Tel: 076986975555076986975555
E-mail ir@aohaic hina. com. [email protected].
2. Introduction to main business or products during the reporting period (I), and the industry of the company during the reporting period
The company is a national high-tech enterprise specializing in the design, R & D, production and sales of intelligent terminal charging and storage products. The company focuses on power supply products with stable quality and is committed to providing customers with the best charging and storage system solutions. Under the background of "carbon peaking and carbon neutralization", the power technology is upgraded iteratively and the market scale continues to improve. The company will follow the development trend of the power industry and promote business development.
In the future world, everything is interconnected, everything you see is intelligent, and all intelligent hardware needs portable energy. With the continuous improvement of the scale of the portable energy market, the company continues to develop new products, vigorously expand new application fields and achieve continuous growth of performance. From 2018 to 2021, the company's operating revenue was 1.661 billion yuan, 2.316 billion yuan, 2.945 billion yuan and 4.245 billion yuan respectively, with an average annual compound growth rate of 36.72%.
(1) The rise of high voltage and high current fast charging mode has achieved a breakthrough in high power
In recent years, fast charging technology has been rapidly popularized in the smart phone market. Mobile phone brand manufacturers and third-party charger manufacturers continue to invest in R & D and strive to promote faster charging products with higher power and safety through technological upgrading. After years of technological development, the continuous optimization of cell, data line and interface makes the whole charging link can withstand greater charging current and voltage; With the gradual improvement of charge pump technology, the voltage conversion efficiency of step-down circuit can be improved to nearly 99%, and the fast charging scheme with higher power can be realized with very low loss. On this basis, fast charging is no longer limited to the traditional high-voltage low current and low-voltage high current mode. Major mainstream mobile phone manufacturers continue to adopt high-voltage high current mode to break through the power limit of fast charging, from 20W, 30W, 65W to more than 100W. In July 2020, oppo released 125w flash charging technology, which can be charged in 20 minutes; In August 2020, Xiaomi released 120W wired second impulse technology to realize the commercial use of 120W power fast charging; It is expected that more manufacturers will break through the 100 watt bottleneck in the future. (2) Application of new materials to promote the upgrading of fast charging technology
As the third generation wide band gap semiconductor material, GaN has extremely strong stability. Compared with the traditional Si semiconductor material, GaN has the characteristics of large band gap, high thermal conductivity and high temperature resistance. The gallium nitride switching device made of Gan can greatly improve the switching frequency and reduce the loss, so that the charger can use smaller transformers and other inductive elements, so as to effectively reduce the volume, reduce heating and improve the efficiency, Gan charger effectively solves the contradiction between volume and power and improves the sense of user experience. Therefore, with the advantages of smaller volume, lighter weight and higher efficiency, Gan charger has become the mainstream development trend of the fast charging market. At the same time, with the rapid increase of fast charging power, higher requirements for the safety of the charging link are put forward. The new materials with outstanding thermal conductivity such as Shi Moxi and high conductivity heat dissipating gel are applied to the physical heat dissipation of the terminal battery. On the other hand, when introducing higher power fast charging, manufacturers provide a complete temperature control solution to improve the safety of fast charging applications in an all-round way.
(3) Portable energy storage capacity has been continuously improved, and the market has great development potential
In recent years, while the number and application degree of smart terminal products such as smart phones, tablets and laptops have been increasing, the market demand for outdoor living electricity is also increasing, and the demand for high-capacity portable energy storage products is increasing. With the continuous improvement of the capacity of portable energy storage products, its application scenarios also continue to expand to outdoor activities, mobile office, home emergency and other scenarios. With high-capacity portable energy storage products, one machine can easily solve a variety of power supply needs, which is widely favored by users. At the same time, high-capacity portable energy storage products adopt high-power cell or lithium battery combined with fast charging technology, which can improve the charging speed step by step and greatly improve the service life of the battery.
For safety, the application of high-precision resistance capacitance sensing devices, circuit chips and other components in high-capacity portable energy storage products can not only ensure charging safety and improve conversion efficiency, but also provide multiple circuit protection, ensure power supply safety and comprehensively improve discharge efficiency.
(4) Intelligent terminal products emerge in endlessly, and the scale of power supply market continues to increase
The charging power of consumer electronic power sources such as smart phones and laptops has increased, the price of single products has increased, and the market scale has continued to grow. With the continuous penetration of Internet of things, artificial intelligence, mobile Internet and other technologies, emerging consumer electronics such as wearable devices (VR / AR), smart homes and smart speakers emerge one after another. Electronic products have become important tools and entertainment carriers in daily life. The use frequency and use scene are increasing, creating new demand for the application of power products. Driven by the dual drive of consumers' portable cordless demand and technological development, a large number of electric tools and small household appliances are turning to rely on batteries for power supply, opening up a large number of new application markets for charging and storage products. At the same time, with the promotion of new infrastructure such as industrial Internet and big data center, the power demand in industrial control, server and other fields will undoubtedly continue to increase.
According to trend force data, global smartphone shipments will reach 1.4 billion in 2022. According to BCC research data, the global wired charger market will reach US $11.431 billion in 2022. Chargers made of gallium nitride are growing rapidly. Mainstream manufacturers have released gallium nitride fast charging products. With the further improvement of the penetration rate of smart phones and laptops, it is expected that the global gallium nitride charger market will continue to expand at a compound annual growth rate of more than 90% from 2020 to 2025, and will exceed 60 billion yuan by 2025. In recent years, the global smartphone market concentration has continued to increase. According to IDC data, the market share of smartphone shipments of Xiaomi, vivo and oppo has increased from 28.93% in 2020 to 33.42% in 2021; Meanwhile, with the rapid development of high-power fast charging technologies such as 40W, 60W, 66W and 120W, the penetration rate of fast charging products has also increased rapidly, and the fast charging power has also increased from the past 10-20w. Fast charging products such as 66W and 120W have been sold in large quantities.
According to the data of markets and markets, the global wireless charging market is expected to reach US $4.5 billion in 2021. By 2026, this data is expected to increase to US $13.4 billion, with a compound annual growth rate of 24.6%. From the perspective of application market, due to the extensive use of wireless charging in smart phones, wearable devices and other electronic devices, consumer electronics applications are expected to occupy the largest market.
According to canalys data, the total shipments of the global PC market (including laptops, tablets and desktops) reached 499 million units in 2021, an increase of 8.9% on the basis of 2020. Due to the demand of home office and online conference, the PC industry will maintain a growth trend in the next few years, and the compound growth rate will remain at about 3.5% from 2021 to 2025.
According to IDC data, the global shipments of wearable devices in 2021 were 533.6 million, with a year-on-year increase of 20%; It is estimated that the global shipments of wearable devices will reach 800 million in 2025. According to IDC data, the global AR / VR head display volume was 11.23 million units in 2021, with a year-on-year increase of 92.1%; VR head shows a volume of 10.95 million units, breaking through the important inflection point of the industry with an annual shipment of 10 million units; It is expected to reach 15.73 million units in 2022, with a year-on-year increase of 43.6%. With the rise of metauniverse, the prosperity of VR industry is rising, and many companies are stepping up the layout of VR. According to statista data, the global shipments of smart homes will reach 349 million in 2020 and 1.77 billion in 2025, with a CAGR of 38.37%. According to the prediction of statista data, the global shipment of smart speakers will exceed 400 million in 2025, with a compound annual growth rate of 24.49% from 2020 to 2025; wait. IOT intelligent terminal equipment has a large market growth space in the future.
According to the white paper on the development of China's electric tool industry (2021), the global shipment of electric tools reached 490 million units in 2020. China has become a large manufacturing and export country in the electric tool industry, and the export rate of complete sets and parts of electric tools has reached more than 80%; With the intellectualization, miniaturization, lightness and cordless of electric tools, electric tools have gradually entered thousands of households. According to the data forecast of statista, the global consumption of electric tools is expected to reach 617 million in 2027. The future market space of electric tool power supply is huge.
With the development of 5g, cloud computing and the construction of data center, it will bring new growth opportunities to the server industry. According to the data forecast of Bloomberg, the global server shipment will reach 12.89 million units in 2021. According to IDC's data forecast, server shipments will achieve a compound growth rate of 5% - 6% from 2021 and 14.18 million units by 2024. According to the 1:2 or 1:4 power module configuration, the global server power module will reach 25.78-51.56 million in 2021; In 2024, the global server power modules will reach 28.36 million-56.72 million.
(5) The new energy industry continues to grow and step to a new level
With the increase of national environmental protection support, the implementation of the "carbon peak and carbon neutralization" strategy and the continuous emergence of new materials and technologies, new energy, new energy vehicles and other industries have ushered in major development opportunities.
According to trendforce data, the global PV new installed capacity in 2021 is about 150160gw. It is estimated that the demand for PV new installed capacity in 2022 will reach 200220gw, with a year-on-year increase of about 30%; By the end of 2021, China's photovoltaic installed capacity accounted for 12.9% of the total power installed capacity, ranking first in the world. More than 130 countries around the world have put forward the goal of "zero carbon" or "carbon neutralization". With the development of green and low carbon becoming a global trend, the photovoltaic industry has strong demand, driving China's inverter export to a record high. In 2021, China's inverter export amounted to US $5.13 billion, a year-on-year increase of 47.3%. In the long run, the cost per kilowatt hour of photovoltaic will continue to decline, and photovoltaic is expected to become one of the cheapest power sources in the world. The global photovoltaic industry is in a high boom period and is ushering in a new round of development opportunities.
According to the data of clean technica, the global sales of new energy vehicles (passenger cars) reached nearly 6.5 million in 2021, a sharp increase of 108% compared with 2020. This is the highest growth rate since 2012, and the market share of new energy vehicles has reached a record 9%. It is predicted that the global sales volume of new energy vehicles is expected to reach 10 million in 2022, and the market share is expected to exceed double digits for the first time. The trend of automotive electrification and intelligence, from hybrid to pure electric, and the upgrading and development of automatic driving L1-L5, has brought the rapid growth of automotive electronic applications. New energy vehicle power supply, control components (MCU, VCU, BMS and multi in one power domain control) and supporting charging piles and other power electronic systems have huge market space in the future. (II) main businesses of the company during the reporting period
(1) Main products and application fields
Based on intelligent manufacturing, the company takes the solution technology of charging and storage system as the fulcrum, establishes and expands its brand, and becomes the head enterprise of energy exchange, efficient charging and storage and centralized supply at the application end; Be a leader in the intelligent portable energy industry and an evergreen enterprise beneficial to mankind. The company's power supply products mainly include chargers (wired chargers and wireless chargers)
