XZB(SH:603040)2022-04-28 16:00Dividend Distribution - The company plans to distribute a cash dividend of RMB 3 per 10 shares to all shareholders, totaling RMB 39,888,328.8 (including tax) based on a total share count of 133,989,109 shares, after accounting for repurchased shares[7]. - The total cash dividend for 2021, including the repurchase amount of RMB 28,952,395.04, amounts to RMB 68,840,723.84, representing 48.91% of the net profit attributable to the parent company[7]. - The company has completed a share repurchase of 1,028,013 shares, which will not participate in the profit distribution for this period[7]. - The company plans to distribute cash dividends of 3 RMB per 10 shares (including tax) based on the total share capital after the repurchase account shares are deducted[119]. - The cash dividend policy stipulates that at least 20% of the distributable profit for the year will be distributed to shareholders in cash, with a minimum of 80% if there are no major capital expenditure arrangements[119]. Financial Performance - The company's operating revenue for 2021 was ¥432,058,571.87, representing a 14.88% increase compared to ¥376,087,187.77 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥140,759,989.91, a decrease of 5.15% from ¥148,404,828.45 in 2020[23]. - The net cash flow from operating activities decreased by 35.60% to ¥110,784,127.70 in 2021 from ¥172,027,941.51 in 2020[23]. - The total assets at the end of 2021 were ¥1,122,629,533.87, reflecting a 6.87% increase from ¥1,050,480,780.59 at the end of 2020[23]. - The basic earnings per share for 2021 was ¥1.06, down 4.50% from ¥1.11 in 2020[24]. - The weighted average return on equity for 2021 was 15.18%, a decrease of 2.29 percentage points from 17.47% in 2020[24]. - The company reported a total of ¥12,219,454.37 in non-recurring gains and losses for 2021, compared to ¥21,967,459.52 in 2020[29]. - The total equity attributable to shareholders at the end of 2021 was ¥968,360,707.67, an increase of 6.21% from ¥911,717,449.04 at the end of 2020[23]. Market Expansion and Product Development - The company plans to expand its market presence and invest in new product development to drive future growth[33]. - The sales revenue of precision components for commercial vehicles reached 65.15 million yuan, an increase of 9.29% compared to the previous year[36]. - Overseas revenue totaled 119.99 million yuan, accounting for 28.03% of total revenue, with a year-on-year growth of 91.63%[35]. - The sales revenue from the new cold heading wire material reached 20.78 million yuan, marking the first year of innovation and development in this new industry[37]. - The company has developed new products for diesel engines that meet National VI, Euro VI, and Euro VII emission standards, with multiple projects in various testing and certification stages[36]. - The company has established a new factory in Europe and commenced production in Mexico, enhancing its global manufacturing and sales service system[35]. - The company has been recognized as a "specialized, refined, distinctive, and innovative" enterprise, contributing to its core competitiveness in the industry[39]. - The overseas market expansion has shown significant results, particularly in the sales of precision components for valve transmission systems[43]. Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[9]. - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements in the report[8]. - The company faces risks from the ongoing COVID-19 pandemic, which may impact production and sales in the automotive sector[86]. - The company identifies potential risks from market competition, particularly in the context of the shift towards new energy vehicles[87]. Governance and Compliance - The company has established a comprehensive governance structure, including rules for shareholder meetings, board meetings, and management responsibilities, ensuring effective governance operations[92]. - The board of directors and senior management confirm the authenticity, accuracy, and completeness of the annual report, assuming legal responsibility for any misstatements[5]. - The company has not faced any non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company has completed a self-inspection of corporate governance without the need for rectification[123]. - The company has no penalties from securities regulatory agencies in the past three years[105]. Research and Development - R&D expenses increased by 31.33% to ¥32,081,650.29, indicating a significant investment in product development[57]. - The company aims to enhance its R&D capabilities, focusing on automotive CO2 heat pump systems and precision electronic components for new energy vehicles and autonomous driving[84]. - The company has established a research and innovation center to explore new industries and cross-field developments[84]. - The company holds a total of 72 domestic patents and 13 foreign patents, including key technologies related to valve lock clips and hydraulic tappets[49]. Employee and Management Information - The company has a total of 639 employees, with 461 in the parent company and 178 in major subsidiaries[114]. - The total remuneration for all directors, supervisors, and senior management reached 7.2052 million yuan in 2021[103]. - The company’s independent directors received a total remuneration of 50,000 yuan each during the reporting period[94]. - The company has 73 R&D personnel, accounting for 11.4% of the total workforce[68]. - The employee training program includes 10 different training categories aimed at enhancing skills and job matching[118]. Financial Management - The company has approved the use of idle funds for investment management, with a maximum balance of 500 million RMB for low-risk financial products[153]. - The company also approved the use of up to 10 million RMB of temporarily idle raised funds for cash management[154]. - The company has invested 247.3 million RMB in bank financial products from its own funds, with an outstanding balance of 67 million RMB[155]. - The total amount of entrusted financial products managed by the company reached 6,000 million with an annualized return of 3.80%, generating a total income of 171.63 million, which has been fully recovered[157]. Shareholder Information - The largest shareholder, Hangzhou Zuofeng Investment Management Co., Ltd., holds 69,205,500 shares, accounting for 51.65% of the total shares[171]. - The total number of ordinary shareholders at the end of the reporting period is 9,715, down from 10,009 at the end of the previous month[169]. - The company has a share repurchase plan to buy back between 625,000 and 1,250,000 shares, representing 0.605% to 1.210% of the total shares, with a planned expenditure of 2,500 to 5,000 million RMB[178]. Audit and Financial Reporting - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[6]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2021[186]. - The audit identified revenue recognition as a key audit matter due to the high inherent risk of misstatement[188]. - The company is responsible for ensuring the financial statements are free from material misstatement due to fraud or error[192].