Securities code: Dalian Zhiyun Automation Co.Ltd(300097) securities abbreviation: Dalian Zhiyun Automation Co.Ltd(300097) Announcement No.: 2022036 Dalian Zhiyun Automation Co.Ltd(300097)
Announcement on the reply to the inquiry letter of the annual report of Shenzhen Stock Exchange
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Dalian Zhiyun Automation Co.Ltd(300097) (hereinafter referred to as "the company") received the annual report inquiry letter on Dalian Zhiyun Automation Co.Ltd(300097) (GEM annual report inquiry letter [2022] No. 237) (hereinafter referred to as "the annual report inquiry letter") issued by the management department of gem company of Shenzhen Stock Exchange on May 6, 2022. The company attaches great importance to it, and the answers to the questions mentioned in the annual report inquiry letter are as follows: 1 During the reporting period, your company's flat panel display module business and automobile intelligent manufacturing equipment business achieved operating revenue of 5792094 million yuan and 1172055 million yuan respectively, with a year-on-year decrease of 20.96% and 49.71%. The company said that the decrease in revenue was mainly due to the fact that some flat panel display module businesses had delivered orders and had not completed acceptance at the end of the reporting period, and the company decided to reduce the production and sales business of automobile intelligent manufacturing equipment in an orderly manner; The R & D expenses increased by 42.97 million yuan or 68.91% over the same period last year, mainly for the R & D projects of flat panel display modules. Please your company:
(1) Supplement the contents and amount of goods or services sold (purchased) by the first five customers (suppliers) of flat panel display module business and automobile intelligent manufacturing equipment business, and the proportion in the total sales (purchase) amount, and report the names of the first five customers (suppliers) and relevant contracts.
(2) Combined with the main products of flat panel display module business and automobile intelligent manufacturing equipment business, revenue recognition, accounts receivable turnover, changes in market environment and policies of the industry, changes in expenses, gross profit margin and net profit margin, the specific reasons and rationality for the year-on-year decline in revenue of flat panel display module business and automobile intelligent manufacturing equipment business are supplemented, In combination with the performance of the first quarter of 2022, explain whether there is a risk of continuous decline in the future, and explain the company's main sources of revenue in the future according to the company's business adjustment plan.
(3) Supplement the acceptance of the delivered orders in the flat panel display module business at the end of the reporting period, including the amount, products, reasons for the unfinished acceptance at the end of the reporting period, whether the project progress complies with the contract, and whether the relevant revenue recognition policies and relevant accounting treatment comply with the provisions of the accounting standards for enterprises.
(4) In combination with capacity adjustment and competitiveness changes, explain the reasons and specific reduction methods of the company's decision to reduce the automotive intelligent manufacturing equipment business, list the details of relevant assets, and supplement how to dispose of relevant assets after reduction, and whether the depreciation, amortization or impairment provision of relevant assets during the reporting period is sufficient. (5) In combination with the main R & D project planning, project initiation time, R & D cycle, achievement application, on-hand orders, market competitiveness and income of flat panel display module business, the reasons and rationality of the increase of R & D expenses over the previous year are supplemented.
(6) Supplement whether the sales collection of mask machine in the early stage has been fully recovered, whether there is return after the period, and whether the early stage revenue recognition complies with the relevant provisions of the accounting standards for business enterprises.
The audit institution is requested to give clear verification opinions.
reply:
(1) Supplement the contents and amount of goods or services sold (purchased) by the first five customers (suppliers) of flat panel display module business and automobile intelligent manufacturing equipment business, and the proportion in the total sales (purchase) amount, and report the names of the first five customers (suppliers) and relevant contracts.
1) The company's sales of goods or services to the top five customers are as follows:
No. customer name commodity or service content proportion of sales in 2021 to total sales business (10000 yuan)
1 customer 1 bond / dispensing / turning / pasting 1132450 15.96% flat panel display module combination / pasting equipment and other equipment business
2 customer 2 bending / curved surface fitting equipment 1052640 14.83% flat panel display module preparation and other equipment business
3 customer 3 curved surface fitting / attaching / attaching 629192 8.87% flat panel display module blanking equipment and other equipment business
4 customers 4 dispensing / welding / attaching / folding 349600 4.93% flat panel display module bending equipment and other equipment business
5 customer 5 bond / flip / detect / load 292800 4.13% flat panel display module blanking equipment and other equipment business
Total 3456682 48.71%
2) The company purchases goods or services from the top five suppliers as follows:
No. supplier name goods or services content proportion of purchase amount in 2021 to total purchase business (10000 yuan)
1 supplier 1 servo motor and driver 188231 3.63% flat panel display module equipment business
2 supplier 2 control module, camera and other visual 139032 2.68% flat panel display module, vision system related parts and equipment business
3 supplier 3 screw rod, guide rail and bearing 130806 2.52% flat panel display module base equipment business
4 supplier 4 rack, column, cover sector 114995 2.22% flat panel display module and other sheet metal equipment business
No. supplier name goods or services content proportion of purchase amount in 2021 to total purchase business (10000 yuan)
5 supplier 5 motor assembly line and rotor 102689 1.98% automotive intelligent manufacturing line and other equipment business
Total 675753 13.04%
Note 1: the above sales and purchase amount are tax exclusive; Note 2: the sales volume of the top five customers mentioned above is slightly different from the sales volume of the top five customers disclosed in the company's 2021 annual report. The reason is that the sales volume of the top five customers in the 2021 annual report includes not only the revenue of flat panel display module equipment, but also the revenue of material spare parts for this customer.
(2) Combined with the main products of flat panel display module business and automobile intelligent manufacturing equipment business, revenue recognition, accounts receivable turnover, changes in market environment and policies of the industry, changes in expenses, gross profit margin and net profit margin, the specific reasons and rationality for the year-on-year decline in revenue of flat panel display module business and automobile intelligent manufacturing equipment business are supplemented, In combination with the performance of the first quarter of 2022, explain whether there is a risk of continuous decline in the future, and explain the company's main sources of revenue in the future according to the company's business adjustment plan.
1) Reasons for the decline of business income of flat panel display module equipment
The 3C intelligent manufacturing equipment segment of the company mainly includes the sales of flat panel display module equipment (main business), materials and spare parts (non main business). Among them, flat panel display module equipment is applied to the precision assembly, production and testing of modules in different display technology fields such as LCD, OLED and mini led, including bonding, dispensing, bonding, attaching, loading and unloading, cleaning, assembly and testing equipment. The company's flat panel display module equipment takes the completion of customer acceptance as the time point for revenue recognition, and the revenue recognition policies and relevant accounting treatment shall be consistent before and after.
Comparison of main financial data in two periods:
Unit: 10000 yuan
Change rate of the project from 2021 to 2020
Flat panel display module equipment business
——Income 57920947328515 - 20.96%
——Cost 39558745056909 - 21.77%
——Gross profit margin 31.70% 31.00% 0.71%
3C intelligent manufacturing equipment
——Overall revenue 59547848662306 - 31.26%
——Overall cost 40302996034756 - 33.22%
——Comprehensive gross profit margin 32.32%, 30.33%, 1.99%
——Period cost 31003281836640 68.80%
——Net profit -1095599642921 - 270.41%
——Net interest rate -18.40%, 7.42% - 25.82%
——Accounts receivable turnover rate 1.16 - 1.91 - 39.27%
The revenue of 3C intelligent manufacturing equipment sector of the company in the reporting period decreased by 31.26% compared with the previous year. The revenue of flat panel display module equipment and mask machine (since covid-19 epidemic is concentrated in 2020, there is basically no such revenue in the reporting period) declined, and the gross profit margin increased. Among them, the revenue of flat panel display module equipment decreased by 20.96%, mainly due to the impact of the epidemic and international trade frictions in 2021. The demand of consumer electronics markets such as smart phones, smart wearables and tablet / laptop computers showed the characteristics of "front high and back low". In addition, the supply of upstream raw materials and display driven IC chips in the electronics industry was short, and the expansion of flat panel display panel industry slowed down, The market competition on the demand side of the equipment has intensified significantly. During the reporting period, the scale of new orders for flat panel display module equipment business has decreased, and the acceptance volume has decreased. Some delivered orders have not been accepted at the end of the reporting period. For the specific reasons for non acceptance, see reply 1 to this inquiry letter （3）。
The change trend of expenses and income during the period was inconsistent, with an increase of 68.80% over the previous year, mainly due to:
① In 2020, the consolidated income statement of the company was only incorporated into the profit and loss in the nine days in the second half of the year;
② The amortization expense of phase II employee stock ownership plan increased by 434808 million yuan over the previous year;
③ The company continues to increase
