Addsino (000547)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was ¥4,143,867,010.79, a decrease of 6.59% compared to ¥4,436,047,708.57 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥644,201,382.43, down 20.26% from ¥807,848,471.16 in 2020[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥501,960,286.22, a decline of 33.42% from ¥753,885,316.19 in 2020[25]. - The net cash flow from operating activities was negative at ¥273,638,742.91, a significant decrease of 240.47% compared to ¥194,807,989.27 in 2020[25]. - The basic and diluted earnings per share for 2021 were both ¥0.40, down 20.00% from ¥0.50 in 2020[25]. - Total revenue for 2021 was approximately ¥4.14 billion, a decrease of 6.59% compared to ¥4.44 billion in 2020[62]. - Defense equipment industry revenue was ¥2.56 billion, accounting for 61.79% of total revenue, down 7.26% from ¥2.76 billion in 2020[62]. - New generation communication and command equipment revenue increased by 32.72% to ¥1.17 billion, representing 28.17% of total revenue[62]. - The digital blue army and blue army equipment products generated ¥1.59 billion, a decline of 15.32% from ¥1.88 billion in 2020[62]. Assets and Liabilities - The company's total assets at the end of 2021 were ¥13,963,344,466.11, an increase of 12.29% from ¥12,435,488,442.32 at the end of 2020[28]. - The net assets attributable to shareholders at the end of 2021 were ¥9,019,610,401.67, up 7.00% from ¥8,429,325,554.85 at the end of 2020[28]. - The company has a low asset-liability ratio, indicating strong financial health and effective management of economic operations[52]. - Accounts receivable increased to ¥2,803,494,467.34, which is 20.08% of total assets, up 3.64 percentage points due to new operations and military client settlements[95]. - Inventory rose to ¥1,809,866,770.83, making up 12.96% of total assets, an increase of 3.30 percentage points attributed to production task preparations[95]. - Short-term borrowings increased to ¥502,794,771.39, representing 3.60% of total liabilities, a decrease of 5.88 percentage points due to factoring receivables[95]. Governance and Compliance - The company has maintained its commitment to transparency, with all board members present for the report's approval[5]. - The company has not reported any changes in its controlling shareholders, ensuring continuity in governance[23]. - The company is registered with a unified social credit code of 913500001544115744, reflecting compliance with regulatory requirements[23]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[177]. - The financial department operates independently, with its own accounting system and financial management practices, ensuring no shared bank accounts with the controlling shareholder[181]. Market and Business Strategy - The company is actively expanding its market presence in the digital blue army and blue army equipment sectors, capitalizing on the modernization of national defense and the upgrade of military equipment[41]. - The company is developing new economic growth points by promoting the application of 5G technology in various scenarios, including mining[42]. - The company focuses on four major industry sectors: Digital Blue Army and Blue Army Equipment, New Generation Communication and Command Equipment, Cybersecurity, and Micro Systems[43]. - The company aims for high-quality development by focusing on technological innovation and key technology breakthroughs in its main business areas[54]. - The company is committed to expanding its market presence and enhancing its competitive edge through mixed ownership and market-oriented management practices[49]. Research and Development - The company’s R&D expenses increased by 2.32% to approximately 441.70 million yuan in 2021, compared to 431.69 million yuan in 2020[78]. - The proportion of R&D investment to operating income increased to 13.27% in 2021 from 12.57% in 2020, reflecting a 0.70% increase[89]. - The company successfully developed silicon carbide high-power absorbing materials, significantly expanding the power tolerance range of absorbing materials, solidifying its leading position in the field[82]. - The company completed the development of a dual-band micro-system, which is expected to significantly enhance its core competitiveness and support core business development[82]. - The company is committed to developing new generation communication technologies, including cognitive radio and ultra-high precision positioning, to meet military and industry needs[159]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and strategies, highlighting the difference between plans, forecasts, and commitments[5]. - The company faces risks related to mergers and acquisitions, including integration challenges and market competition[166]. - The company is addressing human resource risks by implementing a talent strategy to attract and retain high-end talent[167]. - The company is monitoring industry and policy risks, particularly changes in military product VAT policies that may impact costs and profits[168]. Shareholder Engagement - The annual shareholders meeting on May 19, 2021, had a participation rate of 30.00%[182]. - The first extraordinary shareholders meeting on October 8, 2021, had a participation rate of 23.13%[182]. - The company held multiple investor communications and research activities throughout 2021, discussing topics such as operational performance and market strategies[173].