CFMOTO(SH:603129)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥7.86 billion, representing a 73.71% increase compared to ¥4.53 billion in 2020[20]. - Net profit attributable to shareholders of the listed company reached approximately ¥411.52 million, a 12.78% increase from ¥364.90 million in the previous year[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥354.54 million, reflecting a 13.85% increase from ¥311.40 million in 2020[20]. - The total assets of the company at the end of 2021 were approximately ¥7.97 billion, an increase of 89.72% from ¥4.20 billion at the end of 2020[20]. - The net assets attributable to shareholders of the listed company increased to approximately ¥3.64 billion, a 143.16% increase from ¥1.50 billion at the end of 2020[20]. - The company achieved operating revenue of 7.861 billion yuan, a year-on-year increase of 73.71%[33]. - Net profit attributable to shareholders reached 412 million yuan, up 12.78% compared to the previous year[33]. - The company achieved a sales revenue of 2.305 billion yuan, representing a year-on-year growth of 16.94%[36]. - The total profit amounted to 44,913.09 CNY, with a year-on-year increase of 14.79%[68]. - The company's total assets increased by 89.72% year-on-year, totaling 797,076.34 CNY[68]. Cash Flow and Investments - The net cash flow from operating activities was approximately ¥263.72 million, a significant decrease of 65.92% compared to ¥773.86 million in 2020[20]. - The net cash flow from operating activities was 109.51 million yuan in the first quarter[24]. - The net cash flow from investing activities was CNY -386.74 million, an increase of 1.47% year-on-year, mainly due to changes in financial investment scale and increased fixed asset investments[87]. - The net cash flow from financing activities was CNY 1,602.79 million, a substantial increase of 65,717.47% year-on-year, primarily due to funds raised from a private placement of shares[87]. - Cash and cash equivalents at the end of the period amounted to CNY 3,375.19 million, representing 42.34% of total assets, an increase of 168.19% compared to the previous period[88]. Market Expansion and Sales - Sales revenue from international markets amounted to 5.557 billion yuan, reflecting a significant growth of 117.50%[33]. - The all-terrain vehicle business generated sales revenue of 4.827 billion yuan, marking a year-on-year increase of 118.04%[34]. - The two-wheeler export business saw sales revenue of 346 million yuan, a remarkable growth of 196.16%[34]. - The company added 150 new retail outlets, bringing the total to over 3,000[34]. - The company expanded its dealer network by adding 164 new dealers, achieving 100% coverage in provincial capitals and over 92% in prefecture-level cities[36]. - The company has over 3,000 retail outlets globally, with products sold in more than 100 countries and regions[62]. - The company is actively expanding its global production footprint through overseas manufacturing projects, aiming to reduce logistics costs and enhance local operations[114]. Research and Development - The company increased its R&D investment to 379 million yuan, a year-on-year increase of 60.35%, accounting for 4.82% of total revenue[37]. - The company has obtained a total of 733 valid patents, including 617 domestic and 116 foreign patents[38]. - The company’s R&D investment and personnel numbers are significantly higher than the industry average, reinforcing its competitive edge in the market[59]. - The company is focusing on developing new energy products, aligning with market trends towards sustainable transportation solutions[54]. - The company is committed to increasing its R&D investment to enhance its core competitiveness and expand the revenue share of high-end products[116]. Strategic Initiatives and Governance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its strategic plans[7]. - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[4]. - The company has conducted 5 shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[133]. - The board of directors held 15 meetings, approving 83 resolutions, demonstrating active governance and decision-making processes[135]. - The company is committed to transparency in its financial reporting and governance practices, as demonstrated by the detailed disclosures in its annual report[145][150]. - The company has approved the proposal for the 2021 semi-annual report, indicating a focus on transparency and accountability in financial reporting[172]. Challenges and Risks - The company is facing risks from increased market competition in the all-terrain vehicle and mid-to-large displacement motorcycle sectors, necessitating a focus on product quality and brand promotion[127]. - The company faces increased competition in both domestic and international markets, particularly from well-established global brands in the power sports equipment sector[129]. - New product development carries risks, including lengthy development and market acceptance periods, which could negatively impact performance if new products fail to gain traction[130]. - Fluctuations in raw material prices, which significantly impact production costs, pose a risk to the company's financial performance[130]. - The company is closely monitoring international trade policies and potential tariff changes to mitigate risks associated with export markets[124]. Employee and Management Changes - The total number of employees in the parent company is 2,512, and the total number of employees in major subsidiaries is 538, resulting in a combined total of 3,050 employees[193]. - The company has a competitive salary and benefits system linked to economic performance, aiming for moderate growth in employee income levels[197]. - The company has approved the 2021 annual business plan, focusing on strategic growth and operational efficiency[190]. - The management changes are expected to drive the company's growth strategy and operational efficiency moving forward[156]. - Mr. Guo Qiang resigned as CFO on April 13, 2021, and Mr. Si Wei was appointed as the new CFO[152].