YASHA(002375)2022-04-29 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[24]. - The net profit attributable to shareholders was RMB 150 million, an increase of 10% compared to the previous year[24]. - The company's operating revenue for 2021 was ¥12,076,293,973.19, an increase of 11.95% compared to ¥10,787,352,160.12 in 2020[32]. - The net profit attributable to shareholders for 2021 was -¥887,957,335.01, a decrease of 379.70% from ¥317,472,407.59 in 2020[32]. - The net cash flow from operating activities was ¥244,285,708.23, a decline of 55.92% compared to ¥554,178,600.20 in 2020[32]. - The total operating revenue of Zhejiang Yasha Decoration Co., Ltd. reached ¥12,076,293,973.19, representing an increase of 11.95% compared to ¥10,787,352,160.12 in 2020[117]. - The company achieved operating revenue of 1,207,629.40 million CNY and a net profit attributable to shareholders of -88,795.73 million CNY, resulting in a basic earnings per share of -0.66 CNY[66]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.25 per share, totaling approximately RMB 25 million[7]. Market Expansion and Strategy - The company aims to expand its market presence in Southeast Asia, targeting a 20% increase in revenue from this region in 2022[24]. - The management has set a performance guidance for 2022, forecasting a revenue growth of 12% to 18%[24]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market share[24]. - The overall market outlook remains positive, with expectations of continued growth driven by urbanization and infrastructure development in China[24]. Research and Development - The company has invested RMB 100 million in research and development for new technologies in the construction sector[24]. - The company has accumulated 3,420 patents, including 141 invention patents, and 131 software copyrights by the end of the reporting period[89]. - The company's R&D investment amounted to ¥382,923,797.18 in 2021, representing a 16.88% increase from ¥327,619,686.75 in 2020, and accounting for 3.17% of total revenue[190]. - The number of R&D personnel increased to 859 in 2021, up by 2.51% from 838 in 2020, with the proportion of R&D staff rising to 12.54%[190]. Project Management and Operations - The company has a robust procurement and project management system, ensuring efficient operations through a project manager responsibility system[64]. - The company completed 216 projects out of a total of 244 decoration projects in 2021, including 14 EPC projects and 51 industrialized assembly projects[76]. - The company has implemented a direct management model for project management, which allows for effective control over project quality, progress, and costs[72]. - The implementation of an intelligent collaborative management platform improved project lifecycle management, enabling real-time tracking of project progress, payments, and resources[99]. Challenges and Risks - The company reported challenges in 2021 due to rising commodity prices and the debt crisis of high-leverage real estate companies, impacting its overall development[51]. - The company is facing challenges due to the macroeconomic environment, including demand contraction and supply shocks, which have impacted the construction and decoration industry[66]. - The company reported a total impairment loss of 752 million yuan due to potential risks associated with receivables from Evergrande and other developers[95]. Technological Innovation - The company focuses on technological innovation and has developed a green building product that received a national-level certification, becoming one of the first in the industry to achieve this[71]. - The company has successfully completed research on various installation technologies, which are expected to enhance productivity and meet high-tech enterprise recognition requirements[147][149][156]. - The company aims to promote technological achievements through its research projects, which are expected to have a significant impact on future development[168]. Social Responsibility - The company successfully completed the construction of quarantine points in Shaoxing, demonstrating its commitment to social responsibility during the pandemic[116]. Awards and Recognition - The company ranked second in the "Top 100 Chinese Architectural Decoration Enterprises" for 16 consecutive years and has received numerous industry awards, including 45 Luban Awards and 19 National Architectural Decoration Awards[52]. - The company has been recognized as a "National High-tech Enterprise" and has established a national-level postdoctoral research station, enhancing its research and development capabilities[53].