China Bester (SH:603220)2022-04-14 16:00Financial Performance - In 2021, the company achieved operating revenue of 2,641.46 million yuan, a year-on-year increase of 27.82%[4] - The net profit attributable to shareholders was 181.65 million yuan, representing a year-on-year growth of 219.08%[4] - The company's operating revenue for 2021 was ¥2,641,461,851.75, representing a 27.82% increase compared to ¥2,066,527,463.61 in 2020[32] - The net profit attributable to shareholders for 2021 was ¥181,654,031.90, a significant increase of 219.08% from ¥56,930,371.10 in 2020[32] - The net profit after deducting non-recurring gains and losses reached ¥174,601,901.69, up 325.45% from ¥41,039,805.77 in the previous year[32] - The company's total assets as of the end of 2021 were ¥4,133,638,100.03, an 8.55% increase from ¥3,808,150,851.01 at the end of 2020[32] - The net assets attributable to shareholders increased by 6.33% to ¥1,710,266,413.78 at the end of 2021, compared to ¥1,608,386,178.39 at the end of 2020[32] - Basic earnings per share for 2021 were ¥0.5378, reflecting a 218.98% increase from ¥0.1686 in 2020[33] - The weighted average return on net assets for 2021 was 10.96%, an increase of 7.42 percentage points from 3.54% in 2020[33] - The company reported a net cash flow from operating activities of ¥59,418,296.33, a decrease of 64.58% compared to ¥167,774,344.68 in 2020[32] Business Development and Strategy - The company plans to expand its business into smart cities, new energy, and 5G industry applications while enhancing market development and internal management[5] - The company has made significant progress in the application of passive devices in the automotive LiDAR field, expecting to contribute additional business growth this year[6] - The company began its foray into the charging pile business at the end of 2021, with projects in Haikou and Sanya set to launch soon[6] - The company aims to actively collaborate with industry leaders to expand its business in the new energy sector, capitalizing on the carbon neutrality trend[6] - The company plans to continue expanding its market presence and enhancing its technological capabilities in the coming years[34] - The company is positioned as a key service provider for major telecom operators in China, focusing on 5G infrastructure and smart city projects[53] - The company is actively participating in the research and development of 5G industry applications and smart city initiatives, aiming to integrate platform resources effectively[114] - The company is exploring new business opportunities in smart cities and 5G applications, but faces uncertainties in market expansion due to varying client capabilities and economic conditions[123] Market and Industry Insights - The telecommunications industry in China saw a total revenue of CNY 1.47 trillion in 2021, with a growth rate of 8.0%, and emerging digital services like cloud computing and big data grew by 27.8%[50] - The number of IoT users in China reached 1.399 billion by the end of 2021, nearing the scale of mobile phone users[50] - The smart city market in China reached ¥14.9 trillion in 2020, accounting for 22.7% of the global market, indicating significant growth potential[98] - The government and private sector are projected to invest a total of ¥10.6 trillion in new infrastructure from 2021 to 2025, with communication network construction expected to accelerate[97] Research and Development - The company's R&D expenses increased by 67.10% to CNY 109,197,743.93, driven by enhanced investment in 5G application development[68] - The total R&D expenditure for the period amounted to ¥109,197,743.93, representing 4.13% of the operating revenue[83] - The number of R&D personnel is 953, accounting for 23.97% of the total workforce[84] Customer and Supplier Dynamics - The top five customers accounted for 36.29% of total sales, indicating a moderate customer concentration risk[78] - The top five suppliers accounted for 20.13% of total purchases, showing a stable supplier base[79] Governance and Management - The company has established a performance evaluation and incentive mechanism for its directors and senior management to ensure effective governance and operational transparency[130] - The company adheres to strict governance practices, ensuring independence from its controlling shareholder and compliance with relevant laws and regulations[127] - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to CNY 5,775,974.31[172] Shareholder and Dividend Policy - A cash dividend of 1.6 yuan per 10 shares (including tax) is proposed for distribution to shareholders, pending approval at the shareholders' meeting[14] - The company implements a stable profit distribution policy, with cash dividends prioritized over stock distributions, and aims to distribute at least 10% of the annual distributable profit in cash[192] - For growth stages with significant capital expenditures, the minimum cash dividend proportion is set at 20%[196] Employee and Workforce Insights - The total number of employees in the parent company is 1,984, while the total number of employees in major subsidiaries is 1,992, resulting in a combined total of 3,976 employees[186] - The company has a training plan in place to enhance employee capabilities, focusing on both technical skills and professional knowledge[190] - The company emphasizes internal fairness and external competitiveness in its compensation policy, based on employee capabilities and experience[189]