EMT(SH:601208)2022-03-30 16:00Financial Performance - In 2021, the company achieved operating revenue of CNY 3,233,904,280.39 and a net profit attributable to shareholders of CNY 340,932,378.09[4] - The net profit for the parent company was CNY 37,927,400.28 after deducting the statutory surplus reserve of CNY 3,792,740.03 and the profit distribution from the previous year of CNY 68,373,547.10[4] - The total distributable profit at the end of 2021 for the parent company was CNY 89,862,693.02, after adding the undistributed profits from previous years of CNY 124,101,579.87[4] - The company proposed a cash dividend of CNY 1.00 per share, totaling CNY 88,885,611.20, which accounts for 26.07% of the net profit attributable to shareholders for 2021[4] - The company's operating revenue for 2021 was approximately CNY 3.23 billion, representing a 71.92% increase compared to CNY 1.88 billion in 2020[22] - Net profit attributable to shareholders was CNY 340.93 million, a 94.27% increase from CNY 175.49 million in the previous year[22] - The net cash flow from operating activities was negative CNY 58.51 million, a decrease of 136.64% compared to a positive CNY 159.69 million in 2020[22] - The total assets at the end of 2021 were CNY 6.11 billion, reflecting a 45.49% increase from CNY 4.20 billion in 2020[22] - The weighted average return on equity for 2021 was 10.72%, an increase of 3.61 percentage points from 7.11% in 2020[23] - The basic earnings per share for 2021 was CNY 0.40, an 81.82% increase compared to CNY 0.22 in 2020[23] Operational Highlights - The company confirmed that there were no significant risks affecting its production and operations during the reporting period[7] - The audit report issued by the accounting firm was a standard unqualified opinion, ensuring the accuracy and completeness of the financial report[4] - The board of directors and supervisory board members attended the board meeting, ensuring the integrity of the annual report[4] - The company has no non-operating fund occupation by controlling shareholders and their related parties[7] - The profit distribution proposal is subject to approval at the 2021 annual general meeting of shareholders[4] Research and Development - The company applied for 43 patents in 2021, with 19 patents granted, enhancing its technological innovation capabilities[44] - The company has established a "Chengdu R&D Base" to attract high-end technical talent and promote technological innovation[43] - Research and development expenses increased by 30.22% to CNY 152.13 million, indicating a strong commitment to innovation[56] - The total R&D investment amounted to CNY 152,125,524.99, representing 4.70% of operating revenue[71] - The number of R&D personnel was 395, accounting for 15.84% of the total workforce[74] Market and Industry Trends - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] - The company is focusing on optimizing business processes and enhancing decision-making efficiency, leading to improved internal dynamics[49] - The company is advancing its information technology transformation and talent development initiatives to support sustainable growth[51] - The company is actively exploring mergers and acquisitions, with a recent acquisition of 100% equity in Shandong Dongrun for CNY 36 million to expand production capacity[55] Product and Production Developments - The company successfully completed the "annual production of 20,000 tons of optical-grade polyester film for OLED display technology" project, which has now entered mass production[50] - The company is investing in new production lines for high-performance polyester films, targeting an annual output of 20,000 tons for MLCC and PCB applications, enhancing its capabilities in the mid-to-high-end market[125] - The company is also constructing a project for the production of optical-grade polyester films, with an annual capacity of 20,000 tons, to meet the growing demand in the new display technology sector[125] - The company is focused on breaking the overseas monopoly on core raw materials for optical films, accelerating the localization of procurement to improve its competitive position in the market[122] Financial Management - The company raised CNY 767 million through a non-public offering of A-shares, enhancing its financial strength and debt repayment capacity[55] - The company has implemented a credit grading management system for major clients to enhance its marketing strategy[140] - The company has a project for producing 20,000 tons of OLED display technology optical-grade polyester films, which has started mass production[156] Supply Chain and Procurement - The company adheres to a procurement strategy based on QCDS principles, ensuring efficient supply chain management and procurement processes[138] - The company's direct sales model accounts for over 80% of total sales, while domestic sales represent over 90% of overall revenue[140] - The company has implemented a procurement model based on production needs to mitigate risks from raw material price fluctuations[161] Environmental and Regulatory Considerations - The company is committed to technological innovation and product iteration to improve its overall profitability in the photovoltaic sector[110] - The company has developed a range of environmentally friendly flame-retardant polyester resins to meet increasing global demand for safe and eco-friendly textile materials[132] Future Projections - By 2025, the market share of new energy vehicles in China is expected to reach 25%, up from less than 15% currently, indicating significant growth potential[198] - The integration of internet technology and artificial intelligence in the ultra-high voltage sector is expected to enhance the smart application of power grids[196] - The development of smart terminals and innovative applications is anticipated to drive growth in the optical film industry and its upstream supply chain[200]