证券代码：300587 证券简称：天铁股份 公告编号：2023-078 债券代码：123046 债券简称：天铁转债 浙江天铁实业股份有限公司 关于举办 2022 年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江天铁实业股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日在 巨潮资讯网上披露了《2022 年年度报告》及《2022 年年度报告摘要》。为便于广 大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司将于 2023 年 6 月 2 日（星期五）15:00-17:00 在深圳证券交易所上市大厅举办 2022 年度 业绩说明会。本次业绩说明会系深圳证券交易所系列业绩说明会"民企发展迎新 机"主题特定活动。 （公司 2022 年度业绩说明会二维码） 出席本次年度业绩说明会的人员有：公司董事长许吉锭先生，董事、总经理 许孔斌先生，副总经理、董事会秘书范薇薇女士，副总经理、财务总监郑双莲女 士，独立董事张立国先生。 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提 前向投资者公开征集问题，广 ...

Financial Performance - The company's operating revenue for 2022 was approximately ¥1.72 billion, a slight increase of 0.42% compared to ¥1.71 billion in 2021[19]. - Net profit attributable to shareholders for 2022 reached approximately ¥410.23 million, representing a significant increase of 35.66% from ¥302.41 million in 2021[19]. - The net profit after deducting non-recurring gains and losses was approximately ¥420.00 million, up 42.29% from ¥295.18 million in the previous year[19]. - The total assets at the end of 2022 amounted to approximately ¥5.12 billion, reflecting a growth of 25.50% compared to ¥4.08 billion at the end of 2021[19]. - The net assets attributable to shareholders increased to approximately ¥2.98 billion, an 18.29% rise from ¥2.52 billion in 2021[19]. - The basic earnings per share for 2022 was ¥0.38, an increase of 22.58% from ¥0.31 in 2021[19]. - The company reported a negative net cash flow from operating activities of approximately -¥128.33 million, a decline of 195.47% compared to a positive cash flow of ¥134.42 million in 2021[19]. - The company’s total operating revenue for 2022 was CNY 1,696,670,302, with a gross profit margin of 57.45%, showing a year-on-year decrease of 0.62% in revenue and an increase of 6.44% in gross profit margin[81]. - The rubber products segment generated ¥920,174,408.41, accounting for 53.49% of total revenue, down 15.71% from the previous year[78]. - The lithium series products revenue increased by 51.86% to ¥367,298,123.94, representing 21.35% of total revenue[78]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares (including tax) based on a total of 1,076,852,536 shares[3]. - The company held 8 shareholder meetings during the reporting period, ensuring equal rights for all shareholders[158]. - The board of directors consists of 7 members, including 3 independent directors, and held 18 meetings during the reporting period[160]. - The supervisory board has 3 members and convened 13 meetings, effectively overseeing the board's decisions and company operations[161]. - The total remuneration for directors, supervisors, and senior management in 2022 amounted to RMB 606.93 million[191]. Research and Development - The company has developed multiple patented technologies in the chlorinated alkane and alkyl lithium fields, including methods for continuous production and separation, enhancing its competitive edge in the market[43]. - The company has established a modern R&D center equipped with advanced research facilities, enhancing its research capabilities significantly[49]. - The company completed the development of 44 new products and achieved batch production of 161 types of rubber isolation bearings in 2022[57]. - Research and development expenses increased by 10% to 50 million, focusing on new technologies in rubber products[88]. - The company plans to invest 200 million RMB in new technology development over the next three years[181]. Market and Industry Trends - The demand for rail structure vibration reduction products is expected to remain strong due to the increasing operational mileage of urban rail transit and the need for noise and vibration control in densely populated areas[31]. - The urban rail transit sector is a key focus for future urban construction projects, emphasizing its importance in alleviating traffic congestion and enhancing land use efficiency[33]. - The lithium industry is experiencing high growth due to increased demand from downstream sectors, with the company positioned to benefit from this trend[41]. - The company is actively expanding into the lithium salt sector, but faces risks related to market competition and the ability to absorb new production capacity[151]. - The company is closely monitoring industry policy changes and will adjust its strategic planning and business layout accordingly to optimize operations and create multiple profit growth points[145]. Operational Efficiency and Cost Management - The company has established a comprehensive cost control system, enhancing its cost management capabilities and operational efficiency[60]. - The company has optimized its inventory structure, reducing raw material and finished product stock levels in response to order conditions and market dynamics[83]. - The company has a strong focus on independent innovation and has developed a comprehensive range of vibration reduction products, making it one of the more complete manufacturers in the domestic market[42]. - The company emphasizes the importance of cost reduction and efficiency improvement to enhance production stability and quality[140]. - The overall operating costs decreased by 5% to 700 million, primarily due to reduced material costs[89]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its market presence and enhancing product development strategies to drive future growth[83]. - The company expects a revenue growth of 5% for 2023, projecting a total revenue of 1,050 million[88]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million CNY allocated for potential deals[195]. - The company aims to maintain its market leadership in traditional businesses while accelerating infrastructure construction in the new energy sector[140]. - The company is focused on expanding its market presence through new product lines and technological advancements in the damping and isolation sectors[130]. Governance and Compliance - The company has a transparent information disclosure system, utilizing various channels to communicate with investors[165]. - The board of directors has emphasized the importance of maintaining compliance with regulatory standards, ensuring all operations align with the latest guidelines[196]. - The audit committee has conducted thorough reviews of financial reports, ensuring transparency and accuracy in financial disclosures[197]. - The company maintains a diligent approach to compliance with the Company Law and regulatory requirements throughout its operations[198]. - The company has not faced any penalties from securities regulatory agencies in the past three years[189]. Environmental and Social Responsibility - The company emphasizes social responsibility, aligning its development with societal and environmental sustainability[166]. - The company aims to reduce carbon emissions by 25% by 2025 as part of its sustainability initiatives[181]. - The company is committed to sustainable practices and innovation in its operations, aligning with industry trends and consumer demands[176].

Financial Performance - The company's operating revenue for Q1 2023 was ¥223,249,851.56, a decrease of 41.92% compared to ¥384,357,346.97 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥8,828,075.86, representing a decline of 107.62% from a profit of ¥115,852,371.35 in the previous year[4] - The net cash flow from operating activities was negative at ¥85,493,599.67, a decrease of 813.53% compared to ¥11,981,790.05 in the same period last year[4] - The total comprehensive income for the first quarter was -10,647,460.07 CNY, compared to 115,642,106.60 CNY in the previous period[21] - The company reported a basic and diluted earnings per share of -0.01 CNY, compared to 0.18 CNY in the previous year[21] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥5,019,267,643.00, down 2.03% from ¥5,123,060,050.86 at the end of the previous year[4] - Total liabilities decreased to CNY 1,982,964,411.56 from CNY 2,083,950,449.26, indicating improved financial leverage[17] - Long-term borrowings increased to CNY 891,510,627.77 from CNY 567,720,254.05, suggesting increased leverage for future investments[17] Cash Flow - The net cash flow from financing activities was 146,806,732.22 CNY, a recovery from -135,199,089.94 CNY in the prior year[24] - Cash inflow from operating activities totaled 279,427,462.10 CNY, down from 367,852,159.94 CNY in the same period last year[24] - The cash outflow from financing activities was 258,558,466.04 CNY, compared to 139,995,684.79 CNY in the previous period[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,022[12] - The largest shareholder, Wang Meiyu, holds 9.11% of shares, totaling 98,072,548 shares, with 35,175,000 shares pledged[12] - The top ten shareholders hold a significant portion of shares, with the top three shareholders collectively owning 23.03%[12] Expenses - The company reported a significant increase in financial expenses by 117.95%, primarily due to increased interest expenses from bank loans[8] - Research and development expenses increased to CNY 19,211,551.99 from CNY 16,455,158.66, reflecting a focus on innovation[20] - The company reported a significant increase in sales expenses to CNY 15,427,692.07 from CNY 12,588,521.02, indicating higher marketing efforts[18] Other Financial Metrics - The weighted average return on equity was -0.30%, a decrease of 4.79% from 4.49% in the same period last year[4] - Other income increased by 322.82% in the reporting period, mainly due to an increase in government subsidies received[8] - The company’s total equity decreased slightly to CNY 3,036,303,231.44 from CNY 3,039,109,601.60, reflecting a stable equity position despite losses[17] Investments and Acquisitions - The company acquired a 21.74% stake in Tibet Zhongxin Investment Co., Ltd. on January 6, 2023[13] - The company is in the process of issuing shares to specific investors, with approvals from relevant authorities received in early 2023[13] - The company plans to adjust its 2022 restricted stock incentive plan, including the repurchase and cancellation of certain stocks[13]

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Group 1: Company Overview - The company, Zhejiang Tian Tie Industrial Co., Ltd., focuses on the development, production, and sales of rail engineering rubber products [2][3]. - The chairman, Xu Jiding, presented the company's development history, business situation, and future strategies during the investor relations activity [3]. Group 2: Business Strategy and Market Position - The company aims to become a global leader in the vibration control industry, with a focus on rail structure vibration reduction products [3]. - Current orders are stable and growing, primarily consisting of rail structure vibration reduction products [3]. Group 3: Product Development and Innovation - The company emphasizes continuous innovation and R&D to enhance product quality and performance, aiming to expand into other industry applications [3][4]. - The company is actively developing its building vibration isolation business, responding to national policies on disaster prevention and mitigation [4]. Group 4: Financial Performance and Challenges - The gross profit margin has decreased from 70% to 50%, attributed to changes in the revenue structure of combined products [5]. - The company’s sales system is being integrated to provide comprehensive vibration reduction solutions [5]. Group 5: Production Capacity and Future Plans - Current production capacity exceeds 200%, with plans to enhance production processes and technology if the planned capital increase does not proceed [5]. - The company is on track to complete its convertible bond project by March 2022 [4]. Group 6: Market Trends and Opportunities - The rail transit industry is expected to benefit from rapid development due to national infrastructure initiatives, with a positive growth outlook [5]. - The company is exploring opportunities in the building vibration isolation market, which is anticipated to grow with increased focus on earthquake resistance [4].

Group 1: Company Overview and Performance - Zhejiang Tiantian Iron Industry Co., Ltd. is focused on the rail transit industry, benefiting from the rapid development of new infrastructure [2] - The company has maintained high-speed growth due to four main factors: urban transportation development, enhanced environmental regulations, continuous innovation, and strong core competitiveness [3][4] Group 2: Market and Industry Insights - The rail transit industry is expected to grow significantly, driven by national transportation strategies and increased environmental requirements [4][7] - The company’s products are primarily used in urban rail transit, with applications in over 40 cities and more than 100 urban rail projects [4] Group 3: Financial Performance and Projections - Credit impairment losses have increased from 0.24 billion CNY in 2019 to 0.38 billion CNY in Q3 2021, attributed to changes in accounting policies [5] - The company’s gross profit margin is stable, with fluctuations due to changes in product revenue composition [6] Group 4: Product Development and Innovation - The company emphasizes innovation as a key driver for growth, focusing on new technologies and product development in the rail transit sector [3][4] - The company is expanding its product line to include building isolation and damping products, with ongoing projects to enhance production capacity [6][7] Group 5: Competitive Landscape - Major competitors include Qingdao Geergo and Beijing Jiuzhou Yigui, with Tiantian's advantages in technology, product quality, and customer resources [3][4] - The company aims to become a global leader in vibration control within the rail structure sector [3][4]

Financial Performance - The company's revenue for Q3 2022 was ¥482,835,113.44, a decrease of 4.19% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2022 was ¥152,789,423.60, an increase of 8.25% year-on-year[4]. - Total operating revenue for Q3 2022 was CNY 1,208,173,316.36, a decrease of 9.9% compared to CNY 1,341,013,745.14 in the same period last year[23]. - Net profit for Q3 2022 reached CNY 333,622,571.61, an increase of 8.8% compared to CNY 306,673,450.69 in Q3 2021[24]. - The net profit attributable to the parent company shareholders for Q3 2022 was CNY 336,768,471.95, an increase from CNY 286,677,807.05 in Q3 2021, representing a growth of approximately 17.5%[25]. - The total comprehensive income for the parent company owners in Q3 2022 was CNY 336,768,471.95, compared to CNY 286,677,807.05 in the same period last year, indicating a year-over-year increase of about 17.5%[27]. Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 170.36% to ¥149,373,847.91[4]. - The net cash flow from operating activities for the period was CNY 149,373,847.91, significantly higher than CNY 55,250,740.54 in the previous year, marking an increase of approximately 170.5%[27]. - Cash inflow from operating activities totaled CNY 1,114,724,073.35, compared to CNY 926,722,164.44 in the same period last year, reflecting a growth of about 20.2%[27]. - The net cash flow from investing activities was negative at CNY -943,979,415.75, worsening from CNY -317,895,174.59 in the previous year[27]. - The net cash flow from financing activities was CNY 492,620,467.30, an increase from CNY 320,573,915.00 in the same period last year, representing a growth of approximately 53.6%[27]. - The company received CNY 875,500,000.00 in borrowings during the period, up from CNY 616,824,000.00 in the previous year, indicating a growth of approximately 42%[27]. - The company reported a total cash inflow from financing activities of CNY 998,260,978.53, compared to CNY 695,757,389.85 in the same period last year, reflecting an increase of about 43.5%[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,968,635,157.23, representing a 21.72% increase from the end of the previous year[4]. - The company's total assets as of Q3 2022 amounted to CNY 4,968,635,157.23, up from CNY 4,081,994,840.92 at the end of the previous year[21]. - Current assets totaled CNY 3,012,618,381.59, an increase of 8.2% from CNY 2,785,091,288.45 in the previous period[21]. - The company's total liabilities were CNY 2,051,872,505.82, compared to CNY 1,467,620,801.15 in the same period last year, reflecting a significant increase[21]. - The equity attributable to shareholders of the parent company was CNY 2,826,835,827.74, up from CNY 2,522,016,315.76 in the previous year[21]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,750[15]. - The largest shareholder, Wang Meiyu, holds 9.11% of shares, totaling 98,072,548 shares, with 35,175,000 shares pledged[15]. - The second-largest shareholder, Xu Jiding, owns 8.75% of shares, amounting to 94,258,452 shares, with 43,963,500 shares pledged[15]. - Xu Jiding's restricted shares increased by 28,869,364, bringing the total restricted shares to 70,693,838[16]. - Xu Kongbin's restricted shares increased by 17,039,627, totaling 41,725,776 restricted shares[16]. - The company implemented a second phase of the restricted stock incentive plan, granting 4.15 million shares to 11 recipients[17]. - As of September 30, 2022, the total number of restricted shares is 147,429,453[16]. - The company has a significant number of shares under lock-up due to executive restrictions and incentive plans[16]. Investment and Expenses - Long-term equity investments increased by 1,307.21% due to payments made for the investment in a joint venture[9]. - The company reported a 39.46% decrease in investment income due to increased losses from a joint venture[10]. - Research and development expenses for Q3 2022 were CNY 43,493,107.98, a decrease of 23.4% from CNY 56,823,799.28 in Q3 2021[24]. - The company reported a credit impairment loss of CNY -52,305,623.38, worsening from CNY -38,475,462.61 in the previous year[24]. Earnings Per Share - The company's basic earnings per share for Q3 2022 remained stable at ¥0.14, with a year-to-date increase of 3.33% to ¥0.31[4]. - The basic and diluted earnings per share for Q3 2022 were both CNY 0.31, slightly up from CNY 0.30 in Q3 2021[25].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 725,338,202.92, a decrease of 13.35% compared to the same period last year[23]. - Net profit attributable to shareholders increased by 26.42% to CNY 183,979,048.35 compared to CNY 145,533,144.49 in the previous year[23]. - The net cash flow from operating activities was negative at CNY -10,898,345.55, a decline of 175.99% from CNY 14,342,500.79 in the same period last year[23]. - Basic earnings per share decreased by 32.56% to CNY 0.29, down from CNY 0.43 in the previous year[23]. - Total assets increased by 14.97% to CNY 4,693,177,290.45 compared to CNY 4,081,994,840.92 at the end of the previous year[23]. - The net assets attributable to shareholders rose by 5.67% to CNY 2,665,008,256.11 from CNY 2,522,016,315.76 at the end of the previous year[23]. - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company reported a total of CNY 5,128,742.21 in non-recurring gains and losses after tax adjustments[27]. Industry and Market Trends - The company operates in the rubber and plastic products industry, focusing on vibration reduction products for rail transit and construction, with a significant expansion into lithium materials and lithium mining since 2018[31]. - The demand for rail structure vibration reduction products is rapidly increasing, driven by the growth of urban rail transit and the government's focus on noise and vibration pollution control[32]. - The total length of urban rail transit lines in China grew from 3,173 km in 2014 to 9,206.8 km by the end of 2021, with a compound annual growth rate of 16.44%[34]. - The railway industry completed fixed asset investments of 749.89 billion yuan in 2021, with new lines totaling 4,208 km, including 2,168 km of high-speed rail[37]. - The introduction of the "Construction Engineering Earthquake Management Regulations" in May 2021 mandates the use of vibration reduction technology in high seismic risk areas, expanding the market for vibration isolation products[40]. Subsidiary Performance - The company’s subsidiary, Changjili, is a national high-tech enterprise with a strong position in the lithium materials sector, benefiting from the rapid growth in global demand for lithium products[41]. - Jiangsu Changjili's revenue grew from 70 million yuan in 2019 to 308 million yuan in 2021, with a compound annual growth rate of 109.76%[49]. - The company's net profit attributable to shareholders increased from 43 million yuan to 81 million yuan during the same period, with a compound annual growth rate of 37.25%[49]. Investment and Expansion Plans - The company plans to invest approximately 1 billion yuan in a project to produce 50,000 tons of lithium salt and 3,800 tons of alkyl lithium annually, with production expected to start in 2023[50]. - The company acquired a 21.74% stake in Tibet Zhongxin for 500 million yuan to secure raw material sources for lithium compounds[50]. - The company has expanded into the lithium compound sector through the acquisition of Changjili, establishing a second growth curve[83]. - The lithium compound business has been rapidly developed, showcasing the company's efficient execution capabilities[83]. Research and Development - The company has a strong focus on R&D, with multiple patents granted for new product development in the alkyl lithium sector[61]. - The company has developed a patented method for producing anhydrous lithium chloride, achieving industry-leading product specifications[62]. - The company has invested approximately 1.47 billion CNY in R&D over the past three years, developing 142 new products, with 76 types of seismic isolation supports already in mass production[108]. - The company has established a modern R&D center equipped with advanced research facilities, significantly enhancing its R&D capabilities[85]. Production and Quality Control - The company has implemented a comprehensive quality control management system, ensuring product quality through strict monitoring of production processes[91]. - The company’s advanced production processes, including automated weighing and precision control during mixing and vulcanization, ensure product consistency and quality[88]. - The company has achieved a significant breakthrough in the construction damping market, with large-scale production of 1.4m and 1.6m supports meeting high domestic standards[106]. Environmental and Safety Management - The company is classified as a key pollutant discharge unit, with total phosphorus emissions at 0.00077 tons and COD emissions at 0.037693 tons[169]. - The company’s wastewater treatment facility, completed in January 2006, is currently operating well and treats major pollutants including total phosphorus and chemical oxygen demand[169]. - The company achieved ISO45001 certification for occupational health and safety management, enhancing its risk prevention mechanisms[174]. - No major safety production accidents occurred during the reporting period, demonstrating effective safety management[179]. Strategic Outlook and Challenges - The company faces risks related to changes in government investment in rail transit, which could impact revenue from rubber products for rail engineering[148]. - The company plans to optimize its business lines and innovate its business model to create multiple profit growth points in response to industry policy changes[148]. - The company is expanding into the lithium salt sector but faces risks related to market competition and the ability to absorb new production capacity[152]. - Ongoing COVID-19 pandemic risks may disrupt production, procurement, and revenue collection, necessitating proactive measures to minimize negative impacts[154].

Financial Performance - The company's operating revenue for Q1 2022 was ¥384,357,346.97, representing a 4.16% increase compared to ¥368,989,440.11 in the same period last year[4]. - Net profit attributable to shareholders increased by 52.23% to ¥115,852,371.35 from ¥76,105,278.09 year-on-year[4]. - The total comprehensive income for the first quarter was CNY 115,642,106.60, compared to CNY 86,733,255.62 in the previous year, representing an increase of approximately 33.3%[25]. - Basic earnings per share for the first quarter were CNY 0.180, down from CNY 0.23 in the same period last year, reflecting a decrease of about 21.7%[25]. - Net profit for the period was CNY 115,642,106.60, up 33.4% from CNY 86,733,255.62 in the same period last year[24]. Cash Flow - The net cash flow from operating activities surged by 1,076.12% to ¥11,981,790.05, compared to ¥1,018,759.58 in the previous year[4]. - Cash inflow from operating activities amounted to CNY 367,852,159.94, an increase of 18% from CNY 311,979,748.44 in the previous year[26]. - The company's cash flow from other operating activities was CNY 23,528,800.82, down from CNY 27,573,075.29 in the previous year, reflecting a decrease of approximately 14.5%[27]. - The ending balance of cash and cash equivalents was CNY 491,562,066.75, compared to CNY 132,615,523.13 at the end of the previous year, showing a significant increase[28]. - The company received CNY 41,050,900.00 from investment activities, a substantial increase from CNY 4,900,000.00 in the previous year[28]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,139,648,314.27, a 1.41% increase from ¥4,081,994,840.92 at the end of the previous year[4]. - Total liabilities decreased to CNY 1,366,222,220.93 from CNY 1,467,620,801.15, a reduction of 6.9%[21]. - Current assets totaled CNY 2,811,191,178.17, slightly up from CNY 2,785,091,288.45 at the start of the year[20]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 12,805[13]. - The largest shareholder, Wang Meiyu, holds 9.17% of shares, totaling 58,022,493 shares[13]. - The second largest shareholder, Xu Jiding, holds 8.81% of shares, totaling 55,765,966 shares[13]. - The company’s major shareholders include family members, indicating potential influence on corporate governance[13]. - The company has no preferred shareholders as per the report[14]. Research and Development - Research and development expenses rose by 66.67% compared to the previous year, reflecting the company's commitment to new product development[8]. - Research and development expenses increased to CNY 16,455,158.66, a rise of 66.8% compared to CNY 9,872,658.37[24]. Stock and Equity - The equity attributable to shareholders increased by 6.31% to ¥2,681,066,856.43 from ¥2,522,016,315.76 at the end of the previous year[4]. - The total number of restricted shares at the end of the period is 131,927,475, with 4,390,000 shares newly added during the period[15]. - The company granted 3.49 million restricted stock units to 59 incentive targets at a price of 9.21 yuan per share[16]. - The company has a total of 127,537,475 restricted shares at the beginning of the period[15]. - The company’s stock is subject to various lock-up agreements, particularly for executive shares[15]. Future Plans - The company plans to acquire a 21.74% stake in Tibet Zhongxin Investment Co., Ltd. for a total consideration of 500 million yuan[17]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth[24].

Financial Performance - The company's operating revenue for 2021 was ¥1,713,270,590, representing a 38.69% increase compared to ¥1,235,312,835 in 2020[19]. - Net profit attributable to shareholders for 2021 was ¥302,406,229.99, a 54.21% increase from ¥196,097,583.81 in 2020[19]. - The net cash flow from operating activities increased by 212.51% to ¥134,418,931.91 from ¥43,012,835.89 in 2020[19]. - The total assets at the end of 2021 reached ¥4,081,994,840, marking a 37.65% increase from ¥2,965,465,934 at the end of 2020[19]. - The company's basic earnings per share for 2021 was ¥0.52, up 44.44% from ¥0.36 in 2020[19]. - The total equity attributable to shareholders increased by 63.60% to ¥2,522,016,315 from ¥1,541,596,852 in 2020[20]. - The company reported a gross margin of 58.95% in the rubber products sector, up from 56.97% in 2020, indicating improved profitability[123]. - The revenue and net profit from the subsidiary Changjili New Energy accounted for 17.96% and 26.73% of the company's audited annual revenue and net profit attributable to shareholders, respectively[88]. Dividend and Capital Reserves - The company plans to distribute a cash dividend of 0.80 CNY per 10 shares (including tax) to all shareholders, based on a total of 628,221,446 shares[4]. - The company will increase capital reserves by converting 7 shares for every 10 shares held by shareholders[4]. Risks and Challenges - The company has no significant risks affecting its normal operations, as detailed in the management discussion section[4]. - The company faces risks from changes in the industry environment, particularly government budget cuts affecting rail transit investments, which could lead to significant revenue declines[185]. - Increased competition in the rail structure vibration reduction market poses a risk to sales revenue and profitability, necessitating innovation and market demand exploration[186]. - Fluctuations in raw material prices, particularly for rubber, could significantly impact the company's operating costs and profit margins[187]. - The ongoing COVID-19 pandemic poses risks to the company's normal operations, including production and revenue recognition[191]. Market and Industry Trends - The rubber products industry in China achieved sales revenue of 385.61 billion yuan in 2021, with a profit of 17.68 billion yuan, indicating stable growth[31]. - The market for rail structure vibration reduction products is rapidly expanding due to increasing government and societal focus on noise and vibration pollution from rail transit[32]. - The urban rail transit industry in China is expected to maintain rapid growth in the coming years, supported by national development plans aiming for 165,000 kilometers of railway operating mileage by 2025[36]. - The demand for urban rail transit is driven by the need for green and efficient transportation solutions in densely populated areas[34]. - The demand for lithium in power batteries is expected to contribute significantly, with an estimated lithium requirement of 680,000 tons LCE by 2025 due to the anticipated shipment of 1,000 GWh of power batteries[176]. Research and Development - The company has developed multiple core technologies related to noise and vibration control in rail structures, establishing a leading position in the domestic market[58]. - The company achieved a research and development investment of ¥74,816,496.16 in 2021, representing 4.37% of its operating revenue, an increase from 3.41% in 2020[143]. - The company is developing new products aimed at optimizing performance and enhancing product quality, which is expected to improve competitiveness in the rail vibration reduction market[140]. - The company has established research collaborations with universities to address technical challenges and maintain a forward-looking R&D approach[92]. - The company holds a total of 180 patents, including 32 invention patents, and has participated in the formulation of several national and industry standards, showcasing its commitment to innovation[101]. Production and Operations - The company maintains a production model based on "sales-driven production" with a focus on safety stock levels[85]. - The company reported a design capacity of 368,400 square meters for vibration pads, with a capacity utilization rate of 251.80%[88]. - The company is currently constructing an annual production capacity of 400,000 square meters for rubber vibration pads and 700,000 sets for rubber boots[88]. - The production process for the isolation rubber vibration pad includes mixing, calendering, and vulcanization, ensuring high-quality end products[73]. - The company has implemented a supplier management system to ensure high-quality and efficient procurement[83]. Corporate Governance - The company held six shareholder meetings during the reporting period, ensuring equal rights for all shareholders[198]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with relevant regulations[200]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making[199]. - The company has established various committees within the board to enhance governance and operational efficiency[200]. Financial Management - The company has implemented a digital production management system, significantly improving operational efficiency and error tolerance[115]. - The company has established a comprehensive evaluation mechanism for selecting partners to strengthen project management and operational capabilities[190]. - The company plans to enhance its market development capabilities and operational management to mitigate competitive disadvantages[190]. - The company is committed to using the raised funds for subsequent project financing as stated in their fundraising plan[160].