兆龙互连(300913) - 2021 Q4 - 年度财报

Financial Performance - The total operating revenue for 2021 was ¥1,464,949,911.69, representing a 26.16% increase compared to ¥1,161,196,944.35 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥88,267,067.20, a 20.93% increase from ¥72,990,296.57 in 2020[24]. - The net cash flow from operating activities was ¥79,443,213.25, up 15.64% from ¥68,696,701.67 in 2020[24]. - The total assets at the end of 2021 were ¥1,099,703,500.85, a 7.57% increase from ¥1,022,341,797.13 at the end of 2020[24]. - The net assets attributable to shareholders increased to ¥854,457,166.55, a 9.42% rise from ¥780,906,046.23 in 2020[24]. - The basic earnings per share for 2021 was ¥0.72, down 8.86% from ¥0.79 in 2020[24]. - The diluted earnings per share also stood at ¥0.72, reflecting the same decrease of 8.86% compared to the previous year[24]. - The weighted average return on equity for 2021 was 10.78%, down from 18.79% in 2020, indicating a decline of 8.01%[24]. Revenue Breakdown - Revenue from digital communication cables accounted for 95.17% of total revenue, amounting to ¥1,394,222,142.48, with a year-on-year growth of 25.16%[64]. - The revenue from 6A and above data communication cables increased by 57.15% to ¥204,597,410.45, now representing 13.97% of total revenue[64]. - The company's overseas revenue reached ¥802,783,309.45, accounting for 54.80% of total revenue, with a year-on-year increase of 42.29%[64]. Market and Industry Trends - The company operates in the digital communication cable industry, which is expected to benefit from the growth of 5G, big data, and cloud computing technologies[39]. - The digital communication cable industry is in a growth phase, benefiting from the demand driven by global 5G networks, data centers, and IoT infrastructure upgrades[43]. - The government has set a target for 5G personal user penetration to exceed 40% by 2023, which is expected to drive demand for digital communication cables[39]. - The IoT market in China is projected to grow from 259 billion yuan in 2018 to 750.9 billion yuan in 2022, with a CAGR of 30.49% from 2018 to 2022[42]. Research and Development - The company invested ¥5,419,440 in R&D during the reporting period, a 23.11% increase year-on-year, resulting in 20 new utility model patents and 1 design patent[63]. - The company has developed high-end data cables and specialized cables to meet the increasing performance requirements of downstream customers[52]. - The company has launched new products and technologies, including 800G high-speed line components and the second generation of high-performance Category 6 cabling systems[54]. - The company plans to invest in R&D for high-speed transmission cables and connection components to maintain technological leadership and improve product performance[122]. Cost and Expenses - The company’s operating costs increased by 28.23% to 1,258.56 million yuan due to fluctuations in the prices of raw materials such as copper and insulation materials[59]. - The total cost of raw materials for the digital communication cable industry in 2021 was ¥1,100,376,360.30, accounting for 87.43% of operating costs, a 36.58% increase from ¥805,678,729.75 in 2020[73]. - The manufacturing costs for the digital communication cable industry were ¥83,754,591.02 in 2021, accounting for 6.65% of operating costs, which is a 14.55% increase from the previous year[73]. Cash Flow and Financing - Operating cash inflow totaled ¥1,584,971,003.43, an increase of 23.14% compared to ¥1,287,153,925.50 in 2020[86]. - Investment cash inflow reached ¥327,393,870.72, a significant increase of 130,857.55% compared to ¥250,000.00 in 2020[89]. - Financing cash inflow was reported at ¥0, a decrease of 100% compared to ¥506,409,047.53 in the previous year[89]. - The net increase in cash and cash equivalents was -¥192,422,583.93, a decline of 169.12% from an increase of ¥278,388,806.31 in the previous year[89]. Corporate Governance - The company maintains strict independence from its controlling shareholders in terms of assets, personnel, finance, organization, and business operations, ensuring a complete and independent business structure[136]. - The company has established a comprehensive internal control system that is effective and well-executed, promoting normal and efficient business operations[135]. - The company’s governance structure aligns with legal and regulatory requirements, with no significant discrepancies noted[135]. - The company has a dedicated financial department with independent accounting systems and management, ensuring no interference from shareholders in financial decisions[136]. Employee and Management - The total number of employees at the end of the reporting period was 1,167, with 698 in production, 60 in sales, 264 in technology, 10 in finance, and 135 in administration[183]. - The company has established a comprehensive training program to enhance employee skills and competencies, including various training formats such as internal and external training[187]. - The company is committed to improving its employee compensation system and incentive mechanisms based on operational performance[184]. Future Outlook - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on current market trends and expansion strategies[155]. - The company plans to enhance its production capacity and introduce advanced production technology to meet the growing demand in the digital communication cable industry in 2022[120]. - A strategic acquisition is planned, with negotiations ongoing for a potential merger with a local competitor to enhance market presence[155].