光峰科技：2021年半年度报告（英文版）.PDF
2021 Semiannual Report 1 / 219 Stock Code: 688007 Stock Short Name: Appotronics Appotronics Corporation Limited 2021 Semiannual Report 本报告为深圳光峰科技股份有限公司自愿披露的 2021 年半年度报告 （英文版） ，对本报告的中英文版本理解上发生歧义时，以中文版本为准。 2021 Semiannual Report is voluntarily disclosed by Appotronics Corporation Limited, and if the meaning of the translated version is different than the Chinese version, the Chinese version will control. 2021 Semiannual Report 2 / 219 Important Note I. The Board of Directors, the Board of Supervisors, directors, supervisors and senior officers of the Company hereby warrant that the information contained in this Semiannual Report is true, accurate and complete and this Semiannual Report is free from any misrepresentation, misleading statement or material omission, and agree to assume joint and several liability for this Semiannual Report. II. Alert of significant risks The Company has described in detail the risks that may exist in the production and operation of the Company in this Report. Refer to “Section III Discussion and Analysis of the Management V. Risk factors” for the relevant risks. We draw the attention of investors to such risks in making investments. III. All directors of the Company attended the meeting of the Board of Directors. IV. This Semiannual Report has not been audited. V. BO Lianming, Principal of the Company, WANG Yingxia, Chief Accountant and LIU Jie, Person in Charge of the Accounting Body (Accounting Officer) hereby represent that: the financial statements contained in this Semiannual Report are true, accurate and complete. VI. Profit distribution proposal or proposal for capitalization of capital reserve approved by the resolutions of the Board of Directors during the reporting period None VII. Is there any material event concerning any special arrangement of corporate governance? Applicable N/A VIII. Risk statement regarding forward-looking statements Applicable N/A The forward-looking statements contained herein regarding the future plans, development strategies or other matters of the Company do not constitute any substantive covenant made by the Company to the investors. The investors should be aware of the risk of investment. IX. Is there any non-operational occupation of funds by the controlling shareholder or its affiliates? No X. Is there any external guarantee provided in contravention of the stipulated decision-making procedure? No XI. Are the majority of the directors unable to guarantee the truthfulness, accuracy and completeness of the Semiannual Report disclosed by the Company? No XII. Others Applicable N/A 2021 Semiannual Report 3 / 219 Table of Contents Section I Definitions . 4 Section II Company Profile and Financial Highlights . 5 Section III Discussion and Analysis of the Management . 9 Section IV Corporate Governance. 33 Section V Environment and Social Responsibilities . 37 Section VI Significant Matters . 40 Section VII Changes in Shares and Shareholders . 644 Section VIII Preferred Shares . 699 Section IX Bonds . 699 Section X Financial Report . 699 List of Documents Available for Inspection Financial Statements with seals and signatures of Principal of the Company, Chief Accountant and Person in charge of the Accounting Body (Chief Officer) All original documents and announcements of the Company publicly disclosed in the websites designated by the Company as of the reporting period 2021 Semiannual Report 4 / 219 Section I Definitions For purpose of this report, unless the context otherwise requires, the following terms shall have the meanings indicated below: Terms Company or Appotronics means Appotronics Corporation Limited Appotronics Ltd. means Appotronics Corporation Ltd., the former name of the Company CINEAPPO means CINEAPPO Laser Cinema Technology (Beijing) Co., Ltd. Fengmi means collectively, Chongqing Fengmi and its subsidiary Beijing Fengmi Beijing Fengmi means Fengmi (Beijing) Technology Co., Ltd. Chongqing Fengmi means Fengmi (Chongqing) Innovative Technology Co., Ltd. Appotronics HK means Appotronics Hong Kong Limited Appotronics Daye means Shenzhen Appotronics Daye Investment Partnership (LP) Appotronics Deye means Shenzhen Appotronics Deye Consulting Partnership (LP) Appotronics Hongye means Shenzhen Appotronics Hongye Investment Partnership (LP) Blackpine means Blackpine Investment Corp. Ltd. Jinleijing means Shenzhen Jinleijing Investment Limited Partnership (LP) Appotronics Chengye means Shenzhen Appotronics Chengye Consulting Partnership (LP) Dangbei means Hangzhou Dangbei Network Technology Co., Ltd. Delta Electronics or Delta means Delta Electronics, Inc. CINIONIC means Cinionic Limited (previously known as Barco Cineappo Limited) GDC BVI means GDC Technology Limited (British Virgin Islands) GDC Cayman means GDC Technology Limited (Cayman Islands) FDP means Feng Dynamic Page, dynamic page architecture developed independently by Appotronics DCI means Digital Cinema Initiatives of the United States AR means Augmented Reality DLP means Digital Light Processing PCT means Patent Cooperation Treaty 2021 Semiannual Report 5 / 219 Section II Company Profile and Financial Highlights I. Company profile Chinese name 深圳光峰科技股份有限公司 Short name in Chinese 光峰科技 English name Appotronics Corporation Limited Short name in English Appotronics Legal representative BO Lianming Registered address 20-22/F, Hi-tech Zone Union Tower, No. 63 Xuefu Road, Yuehai Street, Nanshan District, Shenzhen Historic changes of registered address of the Company 1. On October 24, 2006: Room 10, F/14, Fangda Building, Keji South 12 Road, South Area, High-tech Zone, Nanshan District, Shenzhen 2. On September 6, 2007: No. 03, 17/F, Overseas Students Venture Building, South Area, Nanshan District, Shenzhen 3. On June 7, 2011: Area A, 1/F, Xili Wenguang Industrial Zone, Nanshan District, Shenzhen 4. On October 24, 2012: Room 401, Shenzhen Integrated Circuit Design and Application Industrial Park, South Side of Chaguang Road, Xili Town, Nanshan District, Shenzhen 5. On December 14, 2017: 21-22/F, Hi-tech Zone Union Tower, No. 63 Xuefu Road, Yuehai Street, Nanshan District, Shenzhen 6. On August 1, 2018: 20-22/F, Hi-tech Zone Union Tower, No. 63 Xuefu Road, Yuehai Street, Nanshan District, Shenzhen Office address 20-22/F, Hi-tech Zone Union Tower, No. 63 Xuefu Road, Yuehai Street, Nanshan District, Shenzhen Postal code of office address 518052 Website http:/ Email Reference to changes during the reporting period N/A II. Contact person and contact information Board Secretary (Domestic representative for information disclosure) Securities affairs representative Name YAN Li CHEN Yasha Address 20-22/F, Hi-tech Zone Union Tower, No. 63 Xuefu Road, Yuehai Street, Nanshan District, Shenzhen 20-22/F, Hi-tech Zone Union Tower, No. 63 Xuefu Road, Yuehai Street, Nanshan District, Shenzhen Telephone 0755-32950536 0755-32950536 Facsimile 0755-86186299 0755-86186299 Email III. Description of changes to the media for information disclosure and place for keeping semiannual reports Designated newspaper for information disclosure China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily Websites for publishing the semiannual reports Place for keeping the semiannual reports Office of the Board of Directors Reference to changes during the reporting period N/A 2021 Semiannual Report 6 / 219 IV. Stock and depository receipts of the Company (I) Stock of the Company Applicable N/A Stock of the Company Type of stock Stock exchange and board Stock short name Stock code Former stock short name A-shares Shanghai Stock Exchange, STAR Market Appotronics 688007 N/A (II) Depository receipts of the Company Applicable N/A V. Other related information Applicable N/A VI. Main accounting data and financial highlights of the Company (I) Main accounting data Unit: Yuan Currency: RMB Main accounting data During the reporting period (Jan. - Jun.) Prior period Change over the prior period (%) Operating income 1,104,689,243.59 716,025,207.34 54.28 Net profit attributable to shareholders of the listed company 151,413,920.79 14,327,442.96 956.81 Net profit attributable to shareholders of the listed company after deduction of non-recurring profit or loss 66,961,936.08 -30,232,495.13 N/A Net cash flow from operating activities 170,659,313.90 63,006,061.80 170.86 At the end of the reporting period At the end of the prior year Changes at the end of the reporting period from the end of the prior year (%) Net assets attributable to shareholders of the listed company 2,324,476,282.79 2,091,599,671.75 11.13 Total assets 3,651,135,378.47 3,226,204,326.69 13.17 (II) Financial highlights Financial highlights During the reporting period (Jan. - Jun.) Prior period Change over the prior period (%) Basic earnings per share (RMB/share) 0.33 0.03 1,000.00 Diluted earnings per share (RMB/share) 0.33 0.03 1,000.00 Basic earnings per share after deduction of non-recurring profit or loss (RMB/share) 0.15 -0.07 N/A Weighted average return on net assets (%) 6.89 0.72 +6.17 percentage points Weighted average return on net assets after deduction of non-recurring profit or loss (%) 3.05 -1.52 +4.57 percentage points Proportion of R&D investments to 8.61 12.19 -3.58 percentage 2021 Semiannual Report 7 / 219 operating income (%) points Explanation about the main accounting data and financial highlights Applicable N/A 1. During the reporting period, the operating income increased by 54.28% year on year, primarily due to the rapid growth of the household business revenue and the basic recovery of cinema business revenue. 2. During the reporting period, the net profit attributable to shareholders of the listed company increased by 956.81% year on year; the basic earnings per share and diluted earnings per share increased by 1000.00% and 1000.00%, respectively; and the net profit attributable to shareholders of the listed company after deduction of non-recurring profit or loss increased by RMB 97.1944 million from corresponding periods of last year, primarily due to the following: (1) the Companys revenue increased by 54.28% year on year, the business structure optimized, the overall gross margin increased by 8.49% year on year, the cinema business resumed its high gross margin, and the gross margin of the large venue and business education increased; and (2) during the reporting period, the year-on-year increase in non-recurring profit or loss was primarily due to the increase in the government grants recognized in the profit or loss for the current period and recognition of the performance compensation of the participating company. 3. Net cash flow from operating activities increased by 170.86% year on year, primarily due to the increase in revenue and in sales receipts. VII. Differences in accounting data under Chinese Accounting Standards and Oversea Accounting Standards Applicable N/A VIII. Items and amounts of non-recurring profit or loss Applicable N/A Unit: Yuan Currency: RMB Item of non-recurring profit or loss Amount Note (if applicable) Gain or loss on disposal of non-current assets 2,048,154.10 Government grants recognized in profit or loss for the current period (excluding government grants that are closely related to the business of the Company and are provided in fixed amount or quantity continuously according to the applicable polices and standards of the country) 71,808,211.32 VII. 84 of Section X Profit or loss on entrusted investments or assets management 2,145,923.39 Net profit or loss of subsidiaries from the beginning of the period up to the business combination date recognized as a result of business combination of enterprises involving enterprises under common control 11,386,216.47 Profit or loss on changes in the fair value of 38,175,900.00 VII. 70 of Section X 2021 Semiannual Report 8 / 219 held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities and derivative financial liabilities and investment income on disposal of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities, derivative financial liabilities and other debt investments, other than those used in the effective hedging activities relating to normal operating business Other non-operating income and expenses 501,309.74 Other gains or losses meeting the definition of non-recurring profit or loss 571,819.78 Effect of minority interests -24,952,896.18 Effect of income taxes -17,232,653.91 Total 84,451,984.71 IX. Explanation about performance indicators not under the Accounting Standards for Business Enterprises Applicable N/A 2021 Semiannual Report 9 / 219 Section III Discussion and Analysis of the Management I. Industry and main business during the reporting period 1. Main business As a leading laser display technology enterprise in the world, the Company mainly engages in the research, development, production and sales of laser display core devices and complete equipment and application of laser display technology to different scenarios based on ALPD laser display technology and architecture, and provides laser cinema projection services. Since its innovative invention of the ALPD technology in 2007, the Company has created new laser display architecture, built core intellectual properties, and mastered the designing and manufacturing of core devices. It has upgraded the ALPD technology continuously, and relying on the advanced ALPD technology, promoted the industrial applications of laser display, and gradually extended the application of laser display from laser cinema projection and other high-end applications to large venue, business education, household market and other display applications. Figure 1: ALPD laser display technology and its application and development 2. Main products and services The Company engages in sales of products and provision of laser cinema projection services, etc. Its ALPD laser display technology furthers the growth of display applications Laser cinema projection device 20000+ units installed around the world C5 passed the DCI certification, making China the fourth country in the world capable of developing and manufacturing digital cinema projectors that comply with DCI specifications Laser venue projector 60000 lumens disruptive product 60000lm The brightness of complete equipment suppresses the industry Laser TV 2020 IF design award Outdoor venue solutions Appearing on CCTV Spring Festival Gala, and lighting up the night of the Forbidden City on Chinese Lantern Festival Laser education projector Laser smart mini projector 2021 Semiannual Report 10 / 219 diversified products may be classified into core laser display devices and complete laser display equipment. Wherein the core devices can be further classified into laser light source (cinema light source and large venue light source), laser TV light generator, laser mini projection light generator and flexible laser display screen, and complete laser display equipment can be
