Jiwei Network reported that on April 19, Beijing Yuanliu Hongyuan Electronic Technology Co., Ltd. (stock abbreviation: Hongyuan Electronics, stock code: 603267) held the 2021 annual general meeting of shareholders, and deliberated on 13 proposals, including the "Proposal on the Full Text and Summary of the Company's 2021 Annual Report", "The Proposal on the Company's 2021 Annual Profit Distribution Plan", and "The Proposal on Amendment". As its institutional shareholder, Aijiwei attended the meeting and expressed its approval votes on the above 13 proposals.
Benefiting from the high prosperity of the industry, Hongyuan Electronics' revenue and net profit increased significantly last year. Zheng Hong, chairman of Hongyuan Electronics, said that thanks to the majority of shareholders for their concern and support for Hongyuan Electronics, with the joint efforts of the company's management team, Hongyuan Electronics will certainly be able to repay the society and shareholders with more excellent performance in the future.
Revenue from the in-house business hit a record high
The main business of Hongyuan Electronics is the technology research and development, product production and sales of electronic components based on multilayer porcelain dielectric capacitors (MLCC), including self-produced business and agency business.
Among them, the self-produced business products mainly include porcelain dielectric capacitors and filters, etc., and the product positioning is "fine, specialized and strong", which are widely used in high-reliability fields such as aerospace, aviation, electronic information, weapons, ships, etc., as well as civil high-end fields such as 5G communications, rail transit, and medical electronics.
In terms of agency business, Hongyuan Electronics represents a number of product lines of international and domestic well-known manufacturers, and the product categories are mainly capacitors, resistors, inductors, RF devices, discrete devices, connectors, integrated circuits and other series of electronic components. Mainly for the industrial and consumer civil markets, covering new energy, automotive electronics, rail transit, smart grid, 5G communications, consumer electronics, medical electronics, industrial/artificial intelligence, Internet of Things and other fields.
In 2021, as the opening year of the "14th Five-Year Plan", in the context of ushering in the digital era, activating the potential of digital elements, the advanced level of industrial base, the level of modernization of the industrial chain has been significantly improved, and the modernization of national defense and the army has taken major steps, the strong demand for basic electronic components has been reflected, and the performance of Hongyuan Electronics has also been significantly improved.
According to the financial report information released by Hongyuan Electronics, in 2021, the company achieved operating income of 2.403 billion yuan, an increase of 41.36% year-on-year; net profit attributable to shareholders of listed companies of 827 million yuan, an increase of 70.08% year-on-year; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 812 million yuan, an increase of 72.50% year-on-year.
Among them, the self-produced business achieved revenue of 1.348 billion yuan, a record high, an increase of 52.07% over the same period of the previous year, a large increase. Hongyuan said that it was mainly due to the continued strong demand for highly reliable products from downstream customers, and the company accelerated the increase in production capacity and expansion of product categories to ensure order delivery.
The agency business achieved revenue of 1.043 billion yuan, an increase of 29.13% year-on-year. Hongyuan said that it is mainly due to the expansion of the market scale of the industry where the company's agency business customers are located, the rapid growth of demand for electronic components, and the increase in the development of new products, new brands and new customers.
Tianfeng Securities analysis pointed out that Hongyuan Electronics, as the core supplier of military MLCC in the mainland, is expected to fully benefit from the "14th Five-Year Plan" leapfrog weaponry demand drive, the next 3-5 years is expected to continue to increase, the civilian product agency business is expected to continue to grow rapidly, and the new category microwave business may achieve significant breakthroughs.
Carry out vehicle-grade MLCC R&D certification
For the development of the company this year, Hongyuan Electronics said that it will strive to enhance the operating performance and comprehensive competitiveness of enterprises by strengthening organizational capacity building, strengthening scientific research and innovation, actively exploring the market, and improving the management level of enterprises.
The first is to strengthen technological innovation and increase investment in research and development. These include continuing to increase investment in the research and development of highly reliable multilayer ceramic dielectric capacitors, relying on the Suzhou base to carry out the research and development and certification of vehicle-grade MLCC. Developed ultra-low ESR (equivalent series resistance) RF microwave ceramic dielectric capacitors to meet the needs of the rapidly evolving 5G base stations, communication equipment and other fields. At the same time, the series of high-power RF microwave ceramic dielectric capacitors is expanded to meet the rapid development needs of high-power power supplies, semiconductor equipment and other fields. On the basis of single-layer ceramic dielectric capacitors, the focus is on the development of resistive-capacitor network products to improve the integration of devices.
The second is to accelerate the industrialization layout and deepen the autonomy and controllability. The Beijing base focuses on the layout of ceramic dielectric capacitors, ceramic materials and products. The Suzhou base focuses on the layout of multilayer ceramic dielectric capacitors, filters and other products. The Chengdu base is laid out around microwave modules, microprocessors and other products.
The third is to optimize the agency brand and expand new markets. On the basis of in-depth strengthening cooperation with customers in the fields of new energy, rail transit, consumer electronics, etc., excavating emerging industries and markets, focusing on the layout of 5G communications, automotive electronics, Internet of Things, artificial intelligence and other fields, continuously improving service levels, innovating service models, creating a one-stop component procurement chain and perfect supply capabilities, gradually becoming bigger and stronger, and striving to improve profit margins while expanding the scale of revenue.
The fourth is to continue to reduce costs and increase efficiency and improve management efficiency. This year, the company will promote the intelligent upgrading and digital transformation of the factory, improve the production level and reduce labor costs by intelligently automating the production workshop. At the same time, through reasonable control of the scale of inventory, improve the efficiency of asset utilization, strengthen financial control and other measures, fully tap the potential of each link to reduce costs and improve work efficiency.
The fifth is to further promote the company's "talent strategy" and "brand strategy". Constantly improve the company's talent introduction, talent training, employee assessment and incentive mechanism, increase the introduction of high-end talents, strengthen the construction of talent echelons, continue to improve the management ability of middle and high-level leaders, enhance the technological innovation ability of R & D personnel, enhance the professional skills of key position personnel, and improve the overall quality of employees. Deeply promote the brand strategy, continue to carry out brand layout, strengthen the specialization, standardization and standardization of the company's brand management, and continuously enhance the company's brand image.
Sixth, prevent risks and promote compliance to ensure the high-quality development of the company. We will continue to strictly follow the requirements of relevant laws and regulations, continue to strengthen risk management, and strengthen risk prevention. Earnestly do a good job in epidemic prevention and control, safe production, environmental protection, quality control, confidentiality management, internal control audit, information disclosure and other work, to provide a solid guarantee for the company's high-quality development.
Huaxi Securities analysis pointed out that there is a rigid demand in the military industry and has a weak cyclicality, Hongyuan Electronics currently has sufficient inventory, with the opening of a new round of large-scale procurement, the company can quickly respond to demand to ensure delivery, and quickly release performance. It is expected that the pace of production delivery this year will be more similar to that of 2020, that is, it will show a trend of "before low and high after", and the annual performance is worth looking forward to. In addition, the company's downstream customer coverage is wide, and the pace of expansion has been preceded and then, which will provide a strong guarantee for the continuous growth of the company's performance. (Proofreading/LL)