CCTC(SZ:300408)2022-04-24 16:00Financial Performance - The company's operating revenue for 2021 was CNY 6,218,042,006.78, representing a 55.69% increase compared to CNY 3,993,974,641.28 in 2020[13] - The net profit attributable to shareholders for 2021 was CNY 2,010,811,421.49, a 39.68% increase from CNY 1,439,562,592.82 in 2020[13] - The net profit after deducting non-recurring gains and losses was CNY 1,828,156,777.20, up 46.64% from CNY 1,246,735,797.43 in 2020[13] - The basic earnings per share for 2021 was CNY 1.10, reflecting a 34.15% increase from CNY 0.82 in 2020[13] - The total assets at the end of 2021 amounted to CNY 18,620,049,198.40, a 50.81% increase from CNY 12,347,084,548.29 at the end of 2020[13] - The net assets attributable to shareholders at the end of 2021 were CNY 16,190,296,603.57, a 49.72% increase from CNY 10,813,404,793.38 at the end of 2020[13] - The company's operating costs amounted to CNY 3,186,509,483.98, which is a 63.18% increase from the previous year[28] - The total comprehensive income attributable to the owners of the parent company was CNY 1,951,306,623.79 in 2021, compared to CNY 1,416,975,258.80 in 2020, indicating a growth of 37.5%[191] Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 1,154,322,229.50, a slight decrease of 1.75% compared to CNY 1,174,900,930.13 in 2020[13] - Operating cash inflow for 2021 was CNY 5,433,321,287.67, an increase of 34.71% compared to 2020[41] - Net cash flow from investing activities decreased by 78.62% to CNY -1,876,764,180.59, primarily due to increased cash payments for fixed assets and intangible assets[41] - Net cash flow from financing activities increased by 90.74% to CNY 3,328,108,988.34, mainly due to funds raised from issuing shares to specific investors[42] - Total cash and cash equivalents increased by 39.03% to CNY 2,597,520,634.02, driven by significant financing cash inflows[42] - The company reported a total of CNY 3,879,811,674.40 in owner contributions during the year, indicating strong capital inflow[200] Market and Product Development - The sales revenue of electronic components and materials grew by 59.55% during the reporting period[19] - The sales revenue of semiconductor components increased by 76.23%, benefiting from the rapid development of 5G technology[19] - The company is actively expanding its market presence in response to the growing demand for 5G infrastructure and electronic components[19] - The company is currently developing high-strength aluminum oxide ceramic substrates and high-capacity MLCCs for 5G communication, aiming to meet the growing market demand[36] - The company plans to enhance its competitive edge through the expansion of high-capacity multilayer ceramic capacitors and the construction of a R&D base in Shenzhen[24] Research and Development - The company has established research institutes to enhance its R&D capabilities and has a strong focus on new materials and product innovation[21] - Research and development expenses increased by 75.04% to 418,538,775.12 yuan in 2021, reflecting the company's commitment to enhancing product competitiveness[35] - The number of R&D personnel rose by 28.43% to 1,730 in 2021, indicating a focus on innovation and development[37] - The R&D investment as a percentage of operating revenue was 6.73% in 2021, compared to 5.99% in 2020[39] Governance and Management - The company has a complete and independent R&D, procurement, production, and sales system, demonstrating its capability for autonomous operations[69] - The company has a diverse management team with members holding various qualifications, including accounting and legal certifications, enhancing its governance structure[76] - The company has a structured governance framework with a clear delineation of roles among its board members and executives, enhancing decision-making processes[79] - The company held a total of 9 board meetings during the reporting period, with all directors attending at least 8 of them[87] - The company has a stable management team with no significant turnover reported among mid-level and senior technical personnel[109] Environmental and Social Responsibility - The company has established effective wastewater treatment facilities, ensuring all emissions meet regulatory standards, with total emissions of 0.0009 tons/year for nickel and 63.587 tons/year for COD[113] - The company has committed to environmental protection measures, including emergency response plans and regular monitoring, with no administrative penalties reported during the reporting period[115] - The company has implemented a social responsibility report, detailing its efforts in poverty alleviation and rural revitalization, published on April 25, 2022[116] Shareholder and Financial Structure - The company distributed a cash dividend of 3.20 yuan per 10 shares, totaling 613,279,158.72 yuan, based on a total share capital of 1,916,497,371 shares[101] - The cash dividend accounted for 100% of the distributable profit, which was 5,562,384,029.28 yuan[101] - The largest shareholder, Chaozhou Sanjiang Investment Co., Ltd., holds 33.67% of the shares, totaling 645,357,856 shares[157] - The company has 25,241 shareholders at the end of the reporting period, with no significant changes in the number of shareholders[156] Risks and Challenges - The company recognizes the risk of intensified competition in the passive components industry and plans to increase R&D investment to maintain its competitive edge[65] - The company reported accounts receivable of ¥1,528.33 million, which poses a risk if customer payment capabilities decline[64] - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[119]