Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation Limited
Annual Report 2021
本报告为深圳光峰科技股份有限公司自愿披露的《2021 年年度报告（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。
Annual Report 2021 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.
Appotronics: Embarking on a New Journey
Dear Shareholders,
Appotronics, like many other companies, experienced an extremely challenging year in
2021. We achieved positive growth in operating incomes in this year, but at a slower growth
rate.
Despite the astonishing performance growth of Appotronics between 2016 and 2018,
especially in 2018 when our operating incomes increased by up to 72% year on year, the
growth rate of our performance slowed down after the Company get listed in 2019. After the
last three years of growing at a slow pace, we have moved to the 16th year from the
establishment of Appotronics, encountering another crossroad - it’s time for us to start a new
journey.
Personally, the year 2022 is a new starting point for me. Coming back to the forefront
as the CEO of the Company, I have more responsibilities on myshoulders and more courage
for fighting in my heart, as if I were in 2016. Looking back to 2016, Appotronics decided to
enter a strange field - cinema projection, and created the unique cinema SAAS mode relying
on our enthusiasm. Thanks to our strong technology advantages and the unique business
model, Appotronics moved forward with an overwhelming momentum on the cinema market
and achieved “explosive” growth with installations of our cinema projections solutions
increasing year by year.
The year 2022 is also a new start for Appotronics. To achieve another “explosive”
growth of Appotronics, we have established four major measures: 1. To enhance our product
capability by keeping sufficiently sensitive to market demands while striving for extreme
cost reduction, hence creating more hot-selling products; 2. To continuously promote the
building of a hierarchical team with more young talents and transform the incentive
mechanism to help young outstanding management and professional staff distinguish
themselves,henceimprovingthe competitiveness oftheteam; 3. Toinnovatethecooperation
mode for cooperating with leading customers in various fields for rapidly acquiring market;
and 4. To keep our keenness as a pioneer by sufficiently staying alerted to emerging market
opportunities in pursuit of rapid breakthrough.
Thanks to the great efforts made bythe Company on the consumer market, we achieved
the growth by nearly 50% in 2021 year on year for our Formovie own-brand business,
accompanied with obvious increase in the gross margin. According to a report from IDC,
Formovie ranked third in 2021 in terms of shipments on the overall household market. In
addition, we are accelerating the pace of business layout in the field of vehicle-mounted
displays, and have entered into cooperation with several vehicle manufacturers and tier-1
suppliers. The IATF 16949 certification achieved by the Company recently indicates that we
have acquired the admission permit for entering the supply chain of global vehicle
manufacturers.
Standingin a world experiencing drastic changes, weencounterthefourthtechnological
revolution consisting of “new displaytechnologies, artificial intelligence, 5G, etc.”, in which
laser display is one of the major “racetracks” in the fourth technological revolution.
Appotronics is at the front line of this investment hot spot, and therefore should act
immediately to seize the opportunities.
Naturally, we should also keep a clear vision of the current conditions. The year 2022
is extremely extraordinary - “black swan” events occurring one after the other, repeated
outbreak of the COVID-19 epidemic both in China and overseas, and the combat against the
epidemic turning into a “protracted war” - the rising uncertainties lead to in-depth changes
in the external environment. The hard external environment requires us to work more
diligently and constantly enhance our resilience to move forward. Luckily, being dedicated
to original innovation since its establishment, Appotronics is always making its way into the
“unpopulated area” of technologies, and is never lack of the determination and confidence in
solve tough problems. The evolution of technologies is leading to more and more new
application scenarios, such as vehicle-mounted displays, aerospace projection display, and
augmented reality (AR), which will create a trillion-level market. We have taken the lead in
making layout for these fields.
In this year, we upgraded the regular CSR report to the ESG report for the first time,
which reflected our active efforts in fulfilling social responsibilities under the continuous
mission of being an accountable and responsible listed company. Lastly, I’
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