SPEED(300322)2023-04-26 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,954,123,946.44, representing a 5.86% increase compared to ¥1,845,932,829.62 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥47,872,494.04, a significant increase of 59.72% from ¥29,973,421.35 in 2020[28]. - The net profit after deducting non-recurring gains and losses was ¥32,269,776.11, which is a 92.30% increase from ¥16,781,198.64 in 2020[28]. - The company's cash flow from operating activities showed a negative net amount of ¥62,215,468.68, a decline of 172.97% compared to ¥85,256,424.44 in 2020[28]. - The total assets at the end of 2021 were ¥2,897,922,685.19, a decrease of 1.82% from ¥2,951,536,065.57 at the end of 2020[28]. - The net assets attributable to shareholders increased by 2.49% to ¥1,376,713,078.25 at the end of 2021, compared to ¥1,343,292,822.07 at the end of 2020[28]. - The total revenue for 2021 reached ¥1,954,123,946.44, representing a year-on-year increase of 5.86% compared to ¥1,845,932,829.62 in 2020[52]. - Antenna sales accounted for ¥1,185,110,357.96, which is 60.65% of total revenue, showing a significant increase of 23.99% from ¥955,783,416.72 in 2020[52]. - Fingerprint module revenue decreased by 21.52% to ¥467,597,129.25, down from ¥595,810,642.89 in 2020, representing 23.93% of total revenue[52]. - Domestic sales were ¥1,153,923,232.71, a decrease of 2.46% from ¥1,183,013,363.31 in 2020, while international sales increased by 20.71% to ¥800,200,713.73[53]. Research and Development - The company emphasizes the importance of technological innovation and plans to increase R&D investment to keep pace with industry trends and product upgrades[7]. - The company is dedicated to timely adjusting its R&D direction and technology reserves to respond to market demands[7]. - Research and development expenses increased by 9.43% to ¥131,606,204.73, indicating a continued focus on innovation[63]. - The company's R&D investment in 2021 amounted to ¥134,211,664.51, representing 6.87% of total operating revenue, a slight increase from 6.83% in 2020[64]. - The number of R&D personnel increased by 15.50% from 329 in 2020 to 380 in 2021, with the proportion of R&D staff rising from 14.69% to 19.93%[64]. - The company plans to enhance R&D investment in antennas, fingerprint modules, and thermal components, focusing on large clients to deepen customer value extraction[96]. Market Expansion and Client Relationships - The company aims to deepen relationships with major clients while continuously exploring new customer opportunities to drive growth[6]. - The company is focused on market expansion and developing new clients while maintaining existing customer relationships[10]. - The company has established long-term partnerships with well-known domestic and international manufacturers, improving its market reputation[45]. - The company has successfully expanded its product offerings, including the supply of AR/VR antennas to North American clients and becoming a supplier for Dongfeng Nissan's 5G vehicle networking antennas[49]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and diversify its product offerings[81]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[129]. Risks and Challenges - The company faces risks related to high accounts receivable, which may lead to significant capital occupation and potential bad debt if clients' business conditions worsen[11]. - The company acknowledges external environmental risks, including trade tensions and international disputes, which may indirectly impact operations[6]. - The company recognizes the risk of fundraising project implementation being affected by macroeconomic fluctuations and industry cycles[10]. - The company reported a significant decline in net cash flow from operating activities, down 172.97% year-on-year, primarily due to rising raw material costs and unfavorable payment terms[66]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance regulations[102]. - The company has established a transparent information disclosure system to enhance investor relations and protect shareholder rights[103]. - There are no significant discrepancies between the company's governance practices and the regulations set forth by relevant authorities[104]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring no shared resources or conflicts of interest[105]. - The company has established an independent financial accounting department and internal audit department, with a complete accounting system and financial management protocols[106]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[170]. Employee Management and Compensation - The company emphasizes a competitive compensation and incentive system to attract and retain talent, fostering employee development and engagement[97]. - The company has a comprehensive salary management system, with employee compensation consisting of basic salary, position salary, performance salary, and benefits[149]. - The company has established a training management system, providing both pre-job and on-the-job training to enhance employee skills and efficiency[150]. - The total pre-tax remuneration for the board of directors and senior management during the reporting period amounted to 538.97 million CNY[134]. - The chairman, Zhu Kunhua, received a pre-tax remuneration of 42.45 million CNY[133]. - The company’s management compensation is determined based on performance, responsibilities, and industry benchmarks[131]. Investment and Financial Management - The total amount of raised funds is 67,501.68 million yuan, with 29,712.77 million yuan utilized during the reporting period[86]. - The remaining raised funds amount to 38,975.71 million yuan, which includes interest income[86]. - The investment amount for the reporting period reached ¥144,610,583.94, representing a significant increase of 292.14% compared to the previous year's investment of ¥36,877,075.00[77]. - The company has committed to invest 30 million yuan as a limited partner in the Suzhou Juhe Pengfei Venture Capital Partnership, which is managed by Shenzhen Juhe Capital[195]. - The company has also planned sale-leaseback financing leasing with a total financing amount not exceeding 5 million yuan with Sinopharm Holdings (China) Leasing Co., Ltd. for a period of 3 years[200]. Future Outlook - Future guidance indicates a positive outlook for revenue growth driven by new product launches and market expansion strategies[114]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[129]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on smart technology[129]. - The management remains committed to enhancing operational efficiency and maximizing shareholder value through strategic initiatives[114].