Biyiwei's net profit in 2022 is 37.96 million, Q4 performance recovers strongly

On March 27, BiYiWei disclosed its 2022 annual report. The announcement shows that the company will achieve operating income of 526 million yuan in 2022, a year-on-year decrease of 40.72%; the net profit attributable to shareholders of the listed company is 37.9635 million yuan, a year-on-year decrease of 84.16%.

Regarding the reasons for the change in performance, BiEiWei pointed out that the main reasons include:

1. The gross profit margin of driver chips decreased. Biwei said that due to the shortage of chip supply in 2021, manufacturers in the field of general LED lighting have adopted a more aggressive stocking strategy, resulting in a longer destocking cycle in 2022. Changes in supply and demand have led to a significant decline in the gross profit margin of general LED driver chips, affecting the overall gross profit margin of driver chips.

2. Sales of some general products have declined. The global consumer market will decline significantly in 2022. Some products such as BiEiMicro's universal LED driver chips, universal charger/adapter chips, and small home appliance chips will be greatly affected, and sales will decline significantly year-on-year.

3. The staff size has been greatly expanded.

Under the difficult situation, BiEiWei actively expanded the new consumer electronics market such as high-power fast charging and clean appliances, and continuously launched new products in the fields of industrial control, network communications, computers, power conversion and energy storage. By the fourth quarter of 2022, Biyi Micro's operating income increased by 43.24% quarter-on-quarter, successfully reversing the declining trend in the first three quarters.

It is reported that BiMicro focuses on the research and development, design and sales of power management chips, and is committed to providing users with high-efficiency, low-power, stable-quality products and complete solutions. The current product line has expanded to include AC-DC, DC-DC, driver ICs, linear regulators, protection chips, battery management chips, etc., which are widely used in consumer electronics, industrial control, network communications, computers, power conversion and energy storage. It provides one-stop solutions for power management chips for domestic mainstream manufacturers.