T&S(300570)2022-04-08 16:00Financial Performance - The company's operating revenue for 2021 was ¥646,326,821.22, representing a 12.67% increase compared to ¥573,637,499.01 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥71,756,754.44, a decrease of 5.10% from ¥75,616,407.31 in the previous year[23]. - The net cash flow from operating activities significantly increased to ¥69,131,951.10, up 1,467.47% from ¥4,410,429.82 in 2020[23]. - The total assets at the end of 2021 were ¥1,351,810,131.26, a decrease of 5.59% from ¥1,431,823,288.24 at the end of 2020[23]. - The net assets attributable to shareholders decreased by 7.07% to ¥1,184,586,617.52 from ¥1,274,648,131.22 in 2020[23]. - The basic earnings per share for 2021 was ¥0.32, a slight decrease of 3.03% compared to ¥0.33 in 2020[23]. - The diluted earnings per share also stood at ¥0.32, reflecting the same 3.03% decrease from the previous year[23]. - The weighted average return on equity for 2021 was 6.00%, an increase from 5.87% in 2020[23]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of ¥3.00 per 10 shares, based on a total of 223,136,734 shares[5]. - The cash dividend distribution plan for 2020 was approved, with a total cash distribution of 66,941,020.20 yuan (including tax), amounting to 3.00 yuan per 10 shares[161]. - Total cash dividends distributed amounted to ¥66,941,020.20, representing 100% of the profit distribution total[167][170]. - The distributable profit for the company was ¥433,028,823.02[168]. - The company did not propose a cash dividend distribution plan for the reporting period despite having positive distributable profits[182]. Market and Industry Position - The company is positioned in a growing optical communication industry, benefiting from the demand driven by global 5G network and data center upgrades[38]. - The company’s optical devices are widely used in 5G networks and large data center construction, indicating strong market applications[39]. - The optical communication industry is expected to see significant capital expenditure, with predictions of $125 billion in FTTH deployment in the U.S. from 2022 to 2026[37]. - The company maintained a direct sales model, with 100% of revenue generated through direct sales[54]. - The company is actively expanding its market presence and has seen a recovery in overseas demand, leading to an increase in overseas orders[50]. Research and Development - Research and development expenses totaled ¥36.46 million, accounting for 5.05% increase year-on-year[67]. - The company has ongoing projects in high-density optical interconnect devices and high-speed optical modules, aimed at enhancing product performance and market competitiveness[68]. - The company is developing a low-cost demodulator for specific markets, enhancing competitiveness in the fiber sensor field[72]. - The company has completed the development of a fiber grating humidity sensor, moving towards productization[72]. - The company plans to increase R&D investment to enhance competitiveness and expand both domestic and international markets[88]. Risk Management - The company faces risks from external environmental changes, customer concentration, exchange rate fluctuations, technological advancements, and logistics disruptions due to the pandemic[94][96][97]. - The company is taking measures to mitigate risks, including enhancing financial analysis, improving cost budgeting mechanisms, and strengthening supply chain management[94][96]. - The company emphasizes the importance of stock pledge risk management due to the high pledge ratio of major shareholders[194]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, ensuring compliance with relevant regulations and providing ample time for shareholders to express their opinions[104]. - The board of directors consists of 9 members, including 3 independent directors, and held 7 meetings during the reporting period[105]. - The supervisory board is composed of 3 supervisors and also held 7 meetings during the reporting period, ensuring effective oversight of the company's financial activities[105]. - The company maintains a complete and independent business system, with no competitive relationships or unfair transactions with controlling shareholders[108]. - The company has established an independent financial department, ensuring compliance with accounting laws and regulations, and operates its own bank accounts[109]. Employee and Talent Management - The company has a total of 1,880 employees at the end of the reporting period, with 1,537 in production, 220 in technology, and 52 in sales[155]. - The company has implemented a performance-based compensation system, encouraging employees to enhance their professional skills and work performance[156]. - The company has established a post-doctoral innovation practice base and a high-skilled talent training base to enhance its talent pool[48]. - The number of R&D personnel increased by 5.77% to 220, with a focus on enhancing the company's competitive edge in optical connector technology[71]. Community Engagement and Social Responsibility - The company supports local education initiatives by awarding teaching excellence prizes annually for ten years starting from 2019[200]. - The company donated computers to support education in underprivileged areas of Guangdong Province[200]. - The company has taken measures to comply with government directives regarding COVID-19, including promoting vaccination and testing[200].