Shenzhen Changfang Group Co.Ltd(300301) 2021 annual report summary
Securities code: Shenzhen Changfang Group Co.Ltd(300301) securities abbreviation: Shenzhen Changfang Group Co.Ltd(300301) announcement 2022024 Shenzhen Changfang Group Co.Ltd(300301) summary of 2021 Annual Report
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. The audit opinion of Dahua Certified Public Accountants (special general partnership) on the company’s financial report this year is: unable to express an opinion. Changes of accounting firm during the reporting period: the accounting firm of the company changed from to Dahua accounting firm (special general partnership) this year. Tips on non-standard audit opinions √ applicable □ not applicable Dahua Certified Public Accountants (special general partnership) has issued an audit report that cannot express an opinion on the company’s 2021 financial statements. The board of directors and the board of supervisors of the company have explained relevant matters in detail. Please pay attention to investment and read it carefully. The company was not profitable at the time of listing and has not realized profits at present □ applicable √ not applicable to the profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable
The company’s profit distribution plan for ordinary shares reviewed and approved by the board of directors is: taking 790108769 as the base, distribute cash dividend of 0.00 yuan (including tax) to all shareholders for every 10 shares, send 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 Shenzhen Changfang Group Co.Ltd(300301) stock code Shenzhen Changfang Group Co.Ltd(300301)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Jiang Weijiang Meixiu
Office address: JuLongshan road 3, grand industrial zone, Pingshan New District, Shenzhen JuLongshan road 3, grand industrial zone, Pingshan New District, Shenzhen
Fax: 075526923246
Tel: 075582828966075582828966
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(I) main business of the company
The company is mainly engaged in the R & D, design, production and sales of LED lighting source device packaging and LED lighting application products. It belongs to the semiconductor lighting device manufacturing industry in the electronic component industry. The company’s packaging products are mainly chip LED lighting light source devices; Lighting application products mainly include off grid lighting products such as flashlight, emergency lamp, eye guard table lamp and general lighting products such as bulb lamp and ceiling lamp.
(II) industry of the company
In the 14th Five Year Plan period, the penetration rate of LED general lighting in China has reached a high level, and the semiconductor lighting industry has stepped from high-speed growth to medium and low-speed growth. According to the blue book on the development of China’s semiconductor lighting industry, with the continuous recovery of China’s economy and the continuous substitution effect of export transfer in 2021, driven by downstream applications,
Shenzhen Changfang Group Co.Ltd(300301) 2021 annual report summary
The overall output value of the semiconductor industry in Chinese Mainland was 777.3 billion yuan, an increase of 10.8% over last year, opening a new round of industrial boom cycle. Especially in the upstream chips and supporting links, the export drives the market demand of general lighting chips, the mini backlight and direct display drive the market demand of small-size chips, as well as the market demand of related equipment and driving IC. The chip price of leading enterprises has increased, the proportion of high gross profit products has increased, and the upstream and supporting links have increased significantly. With the steady growth of midstream packaging, the competition is becoming increasingly fierce. The layout of leading enterprises focuses on the field of mini / micro LED display. The downstream application links are steadily supported by general lighting, and the driving role of emerging application markets such as mini led appears.
Affected by the rising price of raw materials, the fluctuation of RMB exchange rate and the continuous increase of shipping costs, the profit space of export enterprises is constantly squeezed. The sales penetration of general lighting in the Chinese market exceeds 75%, and the growth of alternative lighting market is weak due to the downturn of the real estate market and the delay of large-scale commercial supermarket construction projects. In terms of industrial links, the sales volume of general lighting increased significantly, driving the growth of upstream, midstream and supporting links. At the same time, due to the sharp fluctuation of raw material costs, the price rise of various industrial chains this year has become a common phenomenon. Under the price rise tide, the upstream and downstream packaging is squeezed by the upstream and downstream, and the profit margin of downstream general lighting products, especially export products, is also compressed under the dual pressure of raw materials and transportation costs. Over the past two years, the epidemic has brought about changes in the market environment, such as a sharp increase in the export market and fierce competition in the domestic demand market, as well as sharp fluctuations in the prices of raw materials and supporting materials. Under the baptism of great changes in the external environment, the internal of China’s LED industry continues to reshuffle, and the voice of leading enterprises continues to improve. By 2021, small and medium-sized enterprises, squeezed by the scale advantage of leading enterprises, will face great pressure such as supply chain stability, channel change, continuous profit compression and so on.
LED packaging has entered the stage of large-scale and low gross profit, and the competition among packaging enterprises has further intensified. The capacity competition of white LED packaging with large quantity and wide range is becoming increasingly fierce; The technical route and product specifications of emerging fields such as mini backlight and mini display are not finalized, which puts forward higher requirements for the joint development ability of packaging enterprises and upstream and downstream; In the field of automotive LED packaging, enterprises need a lot of early investment in technology R & D and verification; The competition of R & D strength of enterprises in innovative application fields such as agricultural lighting, infrared LED and ultraviolet LED has gradually upgraded.
Therefore, many small and medium-sized enterprises are forced to withdraw, and the concentration effect of manufacturing links to leading manufacturers is obvious. During the 14th Five Year Plan period, the development of LED packaging will gradually become benign. The market share of industry leading enterprises with high production efficiency, excellent products, high cost performance and thoughtful service will continue to expand, and enterprises with brands, technologies and markets will get greater development opportunities.
Under the background that the sales penetration rate of semiconductor lighting products in China has reached a high level, the incremental market space is small. On the overlay, China’s epidemic situation has been sporadic and repeated, which has an impact on the progress of infrastructure projects and industrial and commercial construction projects, resulting in the recovery and slowdown of the demand side. In addition, China’s continuous regulation of the real estate market has also formed a certain suppression effect on the demand side of lighting products. Although with the implementation of the National Rural Revitalization Strategy, the construction of road lighting infrastructure sinking into counties and beautiful villages has increased, However, overall, the domestic demand market in the field of general lighting is not booming in 2021. At the same time, the segment markets of industrial lighting, indoor and outdoor intelligent lighting and high light quality lighting have achieved rapid growth. With the in-depth implementation of China’s “carbon peak and carbon neutralization” strategy and the 14th five year plan, the stock market will shift from simple LED energy-saving substitution to high energy-saving, high reliability and intelligent solutions, greatly improving the added value of lighting products.
(III) the company’s industry position since its establishment, the company has been committed to promoting the development of LED in the lighting field. Its business focuses on the packaging of white light LED for lighting, and extends to the downstream lighting application field on this basis. The packaging business has advanced packaging equipment and technology and strict management system. The scale of white light packaging ranks in the forefront of China. It is an excellent white light packaging enterprise in the industry. Since its establishment, kangmingsheng, a holding subsidiary, has highly focused on off grid lighting business and extended the development of intelligent lighting and energy storage business. It has a strong international R & D and market development team, independent intellectual property rights and occupies a leading position in the industry. Its products have convenient movement, energy conservation and environmental protection and excellent quality, which fully meet the lighting needs of users in various industries and power shortage areas, and its sales channels are all over the world. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 169924549441273872842873 – 37.95% 325902671772
Net assets attributable to shareholders of listed companies 78629540173115630518850 – 32.00% 119193602625
20212020 year-on-year increase or decrease 2019
Operating income 159904434304130285748294 22.73% 161702129721
Net profit attributable to shareholders of listed companies -37 Guilin Tourism Corporation Limited(000978) 677 -3784447644 -877.71% – 42945784722
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of -43764697277 -7642699117 -472.63% – 44037018033
Net cash flow from operating activities -988202424514674188042 -167.34% 12318877043
Basic earnings per share (yuan / share) -0.4683 -0.0479 -877.66% – 0.5435
Diluted earnings per share (yuan / share) -0.4683 -0.0479 -877.66% – 0.5435
Weighted average return on net assets -38.09% – 3.22% – 34.87% – 30.55%
Shenzhen Changfang Group Co.Ltd(300301) 2021 annual report summary
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
Operating income 27268693262305619042086602890187536044934959
Net profit attributable to shareholders of the listed company -18486906397683868462420326831 -38341001715
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of -2162743112 -997430593 -3063127409 -37541396162
Net cash flow from operating activities -2665668547
