Financial Performance - In 2021, the company achieved a revenue of 9.569 billion RMB, representing a year-on-year growth of 40.75%[4] - The net profit attributable to shareholders was 833 million RMB, an increase of 60.75% compared to the previous year[4] - The company's revenue for 2021 reached ¥9,569,434,480.19, representing a 40.75% increase compared to ¥6,799,061,282.86 in 2020[29] - Net profit attributable to shareholders was ¥832,922,008.36, a 60.75% increase from ¥518,149,882.96 in the previous year[29] - The net profit after deducting non-recurring gains and losses was ¥821,169,790.02, up 77.71% from ¥462,085,112.62 in 2020[29] - The net cash flow from operating activities was ¥842,949,892.46, reflecting a 91.86% increase compared to ¥439,346,780.86 in 2020[29] - Basic earnings per share increased to ¥1.51, a 60.64% rise from ¥0.94 in the previous year[29] - Total assets at the end of 2021 were ¥10,151,555,552.74, a 34.46% increase from ¥7,549,985,687.86 at the end of 2020[29] - The company's net assets attributable to shareholders increased by 15.05% to ¥5,338,646,162.07 from ¥4,640,210,395.95 in 2020[30] - The weighted average return on equity was 16.74%, up from 11.73% in the previous year[29] Strategic Initiatives - The company launched a new brand proposition "Beyond Mobility" to guide its future direction and innovation[3] - The company initiated the "Shenglong Plan" in 2021 to promote strategic, organizational, process, and digital transformation[6] - The company aims for a "zero defect" quality target and is enhancing organizational efficiency and flexibility[6] - The company is committed to achieving carbon neutrality and has set a reduction plan aligned with the 1.5°C temperature rise target[9] - The company plans to continue expanding its market presence and exploring new development opportunities through open collaboration[9] - The company has increased its investment in core technology and management talent to build a strong foundation for long-term growth[6] Business Growth and Market Position - The company has seen a doubling in new business and significant growth in traditional business segments[4] - The company is focusing on enhancing its R&D capabilities and supply chain management to ensure customer service and delivery[4] - The company secured new project orders with an annual sales value exceeding 12 billion yuan, marking an increase of over 80% year-on-year, reaching a historical high[52] - The company’s market share in China's passenger car sector increased by 6 percentage points to 44.4% in 2021, with a significant rise in new energy vehicle sales by 169.5%[51] - The company has established partnerships with leading automotive manufacturers, including Li Auto, to strengthen its market position[109] Research and Development - The company invested approximately CNY 1 billion in R&D in 2021, holding over 1,000 patents and participating in nearly 30 national and industry standards[46] - The company is focused on three main business areas: smart cockpit, intelligent driving, and connected services, aiming to provide comprehensive mobility solutions[41] - The company reported a significant increase in R&D expenses, with a focus on smart cockpit and intelligent driving technologies[111] - The intelligent driving domain controller is currently under development, with plans for mass production in the near future[112] - The company is actively investing in research and development, particularly in the smart driving sector, to enhance its competitive advantage[110] Sustainability and Corporate Responsibility - The company is committed to sustainable development, having initiated carbon neutrality plans and established a green factory in November 2021[59] - The company achieved a reduction in carbon emissions of approximately 1,260 tons of CO2e through various measures including equipment efficiency upgrades and the introduction of a solar power project in 2021[170] - The company has established a "Carbon Neutral Special Group" to implement various green initiatives aimed at achieving carbon neutrality, focusing on five key areas: green parks, green energy, green design, green supply chains, and green manufacturing[173] - The company committed to donating 1 million RMB annually to the "Desay Xiwai Public Welfare Fund" for environmental and educational support, with 800,000 RMB allocated in 2021 for disaster relief efforts[174] Governance and Shareholder Engagement - The company has maintained a strong governance structure, ensuring compliance with legal regulations and protecting the rights of minority shareholders[118] - The company has established a comprehensive corporate governance structure to ensure fair and transparent treatment of all shareholders, enhancing investor relations through various communication channels[171] - The company reported a total of 200 million in the fiscal year 2021[128] - The annual shareholder meeting had a participation rate of 74.75% on May 11, 2021, demonstrating strong shareholder engagement[124] - The company has a complete and independent human resources management system, ensuring that employee compensation and benefits are managed separately from the controlling shareholder[122] Future Outlook and Expansion Plans - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[181] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[183] - Future guidance includes an expected EBITDA margin improvement to 18% by the end of the next fiscal year[180] - The company plans to invest 100 million RMB in new technology development over the next two years to improve product offerings[134] Internal Control and Risk Management - The company has implemented strict internal control measures, ensuring compliance with laws and regulations, and reported no significant defects in financial and non-financial internal controls for 2021[162] - The internal control evaluation report indicated that 100% of the total assets and operating income of the evaluated units were included in the consolidated financial statements[164] - The company emphasized the importance of risk prevention and internal control efficiency, aiming to enhance governance quality and promote sustainable development[165] - There were no identified major defects in internal control during the reporting period, reflecting effective risk management practices[163]

Financial Performance - In 2019, the company achieved a revenue of 5.337 billion RMB, with a 20% year-on-year growth in the second half of the year and a 47% increase in net profit[2]. - The company's operating revenue for 2019 was ¥5,337,242,510.09, a decrease of 1.32% compared to ¥5,408,740,070.88 in 2018[19]. - The net profit attributable to shareholders for 2019 was ¥292,146,872.91, down 29.79% from ¥416,121,317.24 in 2018[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥212,455,773.85, a decrease of 40.68% compared to ¥358,171,809.99 in 2018[19]. - The net cash flow from operating activities was ¥399,130,355.02, down 45.76% from ¥735,833,606.72 in 2018[19]. - The basic earnings per share for 2019 was ¥0.53, a decline of 30.26% from ¥0.76 in 2018[19]. - The total revenue for 2019 was approximately ¥5.34 billion, a decrease of 1.32% compared to ¥5.41 billion in 2018[39]. - The net profit in Q4 2019 increased by 92% year-on-year, reflecting strong operational recovery[34]. - The total cash dividend distributed by the company amounted to CNY 110 million, representing 100% of the total profit distribution[83]. Organizational Changes - The company has restructured its organization in October 2019, focusing on three major business units to enhance management efficiency and collaboration[2]. - The company did not report any changes in its main business since its listing[16]. - The company has maintained its accounting firm and sponsor institution without changes during the reporting period[17][18]. Technological Innovation - The company is committed to increasing investment in technological innovation to maintain its core competitiveness amid industry changes[5]. - The company is investing in the construction of a mobile internet technology R&D center and industrialization projects, indicating a commitment to innovation[30]. - R&D investment in 2019 was 656 million yuan, accounting for 12.29% of total sales, with R&D personnel making up 41% of the workforce[35]. - The company has over 600 patents and has established a technology R&D center since 1992, with significant advancements in core technologies[34]. - The company is focusing on three main business areas: smart cockpit, intelligent driving, and connected services, aiming to build a comprehensive ecosystem for smart transportation[28][29]. Client and Market Development - The company made significant progress with key clients such as Toyota, Changan Ford, and Geely in 2019, optimizing its customer structure[2]. - The customer base includes major automotive manufacturers such as FAW-Volkswagen, SAIC Volkswagen, and Toyota, with new project orders exceeding 7 billion yuan annually[35]. - The company has formed strategic partnerships with leading technology firms like NVIDIA and NXP to bolster its technological capabilities[34]. - The company’s domestic sales accounted for 84.69% of total revenue, while overseas sales contributed 15.31%[39]. Awards and Recognition - The company received the National Quality Award in August 2019, becoming the first in the Chinese automotive electronics industry to achieve this recognition[2]. - The company has received multiple awards in 2019, including the "Outstanding Supplier" from SAIC Motor and "Excellence Award" from Changan Mazda[35]. - The company obtained ASPICE CL2 certification, indicating its software development capabilities are at an internationally advanced level[35]. Financial Management and Investments - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, based on a total of 550 million shares[7]. - The company has a remaining balance of CNY 135,652.23 million in raised funds, with CNY 69,982.23 million already utilized[63]. - The company plans to use up to CNY 130,000 million of temporarily idle raised funds for cash management, ensuring high safety and liquidity[64]. - The total committed investment for the automotive electronics intelligent factory construction project is CNY 61,205.42 million, with a cumulative investment of CNY 39,948.94 million, achieving an investment progress of 65.27%[65]. Corporate Governance - The company has established a governance structure that ensures fair treatment of all shareholders and compliance with relevant laws and regulations[149]. - The company has a total of 4,506 employees receiving salaries, indicating a stable workforce[181]. - The company maintains complete independence from its controlling shareholder, Desay Group, in terms of business, personnel, assets, institutions, and finance[186]. - The company has implemented a robust management structure with clear roles for senior executives, ensuring effective decision-making[172]. Social Responsibility - The company has actively engaged in social responsibility initiatives, including donations and public welfare activities[150]. - The company donated 3,500 books to a school in Guangdong Province, contributing to the establishment of a reading room, and has supported five primary schools since 2016[150]. - The company has implemented a "zero discharge" process for industrial wastewater treatment, ensuring compliance with environmental standards and has received ISO14001 certification for several consecutive years[153].