TOYOU(300302)2022-04-28 16:00Financial Performance - The company reported a significant loss in performance during the reporting period, with specific reasons and countermeasures detailed in the management discussion section[4]. - No cash dividends, stock bonuses, or capital reserve transfers will be distributed to shareholders for the year[5]. - The net profit attributable to shareholders was -¥12,077,369.73, a decrease of 132.39% compared to ¥37,283,094.13 in 2020[21]. - The total net profit after deducting non-recurring gains and losses was -¥20,249,011.40, a decline of 158.04% from ¥34,887,029.36 in 2020[21]. - The company reported a basic earnings per share of -¥0.0249, down 131.40% from ¥0.0793 in 2020[21]. - The company reported a significant improvement in operating cash flow, with a net cash flow from operating activities of 119.48 million yuan, up 448.06% year-on-year[50]. - The company reported a net profit attributable to the parent company of Hongqin Technology for 2021 was 66.77 million yuan, with a performance commitment completion rate of 94.04%[118]. - The company reported a total revenue of 496.8 million for the fiscal year 2021[158]. - The company reported a total revenue of 1.5 billion RMB for the year 2021, representing a year-over-year growth of 20%[165]. Revenue and Growth - The company's operating revenue for 2021 was ¥390,908,671.41, representing a 17.91% increase from ¥331,538,013.69 in 2020[21]. - The company achieved operating revenue of 390.91 million yuan, a year-on-year increase of 17.91%, with storage system revenue reaching 192.42 million yuan, up 35.44%[50]. - Government clients contributed ¥229,326,702.63, accounting for 58.67% of total revenue, with a year-on-year growth of 28.30%[67]. - The disaster recovery segment saw significant growth, with revenue of ¥114,310,138.72, up 41.12% from ¥81,004,181.37 in 2020[67]. - The northern region experienced a revenue increase of 57.71%, totaling ¥155,942,959.00, compared to ¥98,876,605.50 in the previous year[67]. - The company provided a revenue guidance for 2022, projecting a growth rate of 25% compared to 2021[167]. Research and Development - The company emphasizes its commitment to innovation in data storage and cloud computing technologies, aiming to meet user demands for high performance and reliability[14]. - The company's R&D investment accounted for nearly 18% of operating income in 2021, continuing a trend of over 10% for three consecutive years[39]. - Research and development expenses increased to 70.27 million yuan, accounting for 17.98% of operating revenue, reflecting the company's commitment to innovation[51]. - The company has developed 12 key technologies in data backup, real-time data protection, and secure data transmission, securing over a hundred invention patents[40]. - The company is actively investing in new technologies and market expansion, as evidenced by increased R&D personnel and investment in subsidiary projects[84]. - The number of R&D personnel increased to 132 in 2021, up 13.79% from 116 in 2020, with a higher proportion of staff holding bachelor's degrees[84]. Strategic Initiatives - The company plans to enhance its market presence through strategic expansions and potential acquisitions, although specific targets were not disclosed[4]. - The company completed the acquisition of Hongqin Technology, which reported a net profit of 66.77 million yuan in 2021, achieving a performance commitment completion rate of 94.04%[41]. - The company has established strategic partnerships with institutions like National University of Defense Technology to enhance its R&D capabilities[44]. - The company is focusing on expanding its market presence in the domestic storage sector, particularly in response to the demand for self-controlled solutions[82]. - The company plans to deepen its market layout in the "8+2" industries, targeting key sectors such as electricity, oil, and transportation, to expand its customer base and improve profitability[108]. Operational Efficiency - The company aims to reduce operational costs by 15% in 2022 through efficiency improvements and automation[168]. - The company has implemented a training program covering various topics, resulting in high employee satisfaction[173]. - The company is committed to building the Changsha storage industry park, focusing on recruitment of top R&D talent and optimizing production processes to improve delivery efficiency[114]. - The company will strengthen its internal systems and enhance organizational vitality by improving project management and cross-departmental collaboration[115]. Governance and Compliance - The company has a strong governance structure with independent directors and a diverse management team, enhancing decision-making capabilities[139]. - The company is committed to enhancing its corporate governance and protecting shareholder rights[163]. - The internal control evaluation report for 2021 was approved by the board, ensuring compliance with relevant laws and regulations, and confirming that 100% of the company's assets and revenue were included in the evaluation scope[186]. - The company has no major internal control deficiencies reported during the period, maintaining a clean record in both financial and non-financial reporting[185][186]. Market Trends and Challenges - The company faces macroeconomic risks, including geopolitical tensions and supply chain disruptions, which could impact its operational performance[116]. - The company is experiencing a significant increase in demand for storage products due to the rapid development of the digital economy, which is intensifying supply constraints in the semiconductor market[116]. - The implementation of the national strategy for independent control is expected to create a broad market space for domestic manufacturers in the storage sector[123]. Employee and Management - The total remuneration paid to directors, supervisors, and senior management in 2021 amounted to CNY 4.968 million[157]. - The company has a clear incentive plan in place for its executives, aligning their interests with shareholder value creation[138]. - The company has granted 1.5 million restricted stock units to 23 employees as part of its incentive plan to share development results and enhance employee retention[115]. - The company has no retired employees requiring pension costs, indicating a focus on a younger workforce[170].