Financial Performance - The company's operating revenue for 2021 was CNY 452,216,111.33, representing a 25.22% increase compared to CNY 361,137,706.71 in 2020[32]. - The net profit attributable to shareholders for 2021 was CNY 56,981,528.37, an increase of 43.72% from CNY 39,646,931.95 in 2020[32]. - The total assets at the end of 2021 amounted to CNY 451,660,376.59, a 52.13% increase from CNY 296,885,352.82 at the end of 2020[33]. - The total liabilities decreased by 19.68% to CNY 78,034,807.97 in 2021 from CNY 97,155,472.89 in 2020[33]. - The company had a cash flow from operating activities of CNY 24,908,569.26 in 2021, showing a significant increase compared to CNY 3,577,744.62 in 2020[34]. - The company's basic earnings per share increased by 28.26% to CNY 0.59 in 2021 from CNY 0.46 in 2020[32]. - The weighted average return on equity based on net profit attributable to shareholders was 19.39% in 2021, down from 21.40% in 2020[32]. - The gross profit margin slightly decreased to 24.14% from 24.18% year-on-year[63]. - Operating revenue increased by 25.22% in 2021, down from 44.03% in 2020[35]. - Net profit rose by 43.72% in 2021, compared to a 36.04% increase in 2020[35]. Share Issuance and Capital Structure - The company publicly issued 20 million shares at a price of RMB 6.39 per share, raising a total of RMB 127.8 million[5]. - The total share capital increased to 106,100,000 shares, a growth of 23.23% from 86,100,000 shares in 2020[37]. - The company issued 20 million shares to unspecified qualified investors, increasing total shares to 106,100,000[134]. - The proportion of unrestricted shares held by the largest shareholders increased from 9.41% to 27.82% after the issuance[133]. - Major shareholders Zhao Qingfu and Li Liangwei each hold 35,740,000 shares, representing 33.69% of total shares[136]. - The top ten shareholders collectively hold 82,203,943 shares, which is 77.49% of the total shares[137]. Accounts Receivable and Risk Management - As of the end of the reporting period, accounts receivable amounted to RMB 144.36 million, representing 31.92% of the current operating revenue[14]. - The company anticipates continued growth in accounts receivable as its business scales, which may increase the risk of bad debts[14]. - The company faces risks related to high customer concentration, with significant revenue dependence on its top five clients[12]. - The company has implemented measures to mitigate risks associated with accounts receivable, including provisioning for bad debts and negotiating shorter payment terms with clients[113]. - The company is exposed to raw material price fluctuation risks, as direct material costs constitute a large portion of its main business costs[13]. Research and Development - The company holds a total of 57 patents as of the end of the reporting period, an increase of 13 patents from the beginning of the year[28]. - Research and development expenses surged by 49.64% to ¥15,490,281.82, indicating a focus on innovation[63]. - R&D expenditure for the reporting period amounted to 15,490,281.82 yuan, representing 3.43% of operating revenue[198]. - The company plans to enhance its research and development capabilities, focusing on connector cable assemblies for electric vehicles and smart driving applications[105]. - The company is focusing on developing automated production lines to enhance production efficiency and reduce labor costs[191]. Market and Industry Trends - The connector industry is experiencing growth driven by the rapid development of consumer electronics and electric vehicles[55]. - The company continues to focus on developing new products and expanding into the electric vehicle market to create new revenue growth points[48]. - The trend towards miniaturization, intelligence, wireless technology, and environmental protection in connector applications is becoming increasingly evident[190]. - The automotive electronic connector cable assemblies reached a production volume of 7,291.52 million units[192]. - The global connector market size increased from $48.9 billion in 2011 to $72.2 billion in 2019, reflecting stable growth driven by downstream industries[172]. Corporate Governance and Internal Control - The company has established a robust internal control system to mitigate risks associated with its dual control structure by its major shareholders[13]. - The actual controllers, Zhao Qingfu and Li Liangwei, hold a combined voting power of 71.13%, ensuring absolute control over the company[112]. - The company has implemented measures to mitigate risks associated with accounts receivable, including provisioning for bad debts and negotiating shorter payment terms with clients[113]. - The company is focused on improving its internal management systems to handle the complexities arising from its growing scale and operations[111]. - The company has committed to fulfilling its social responsibilities, including providing job opportunities for local residents and supporting regional economic development[103]. Future Plans and Strategies - The company plans to continue pursuing technological development and process innovation to meet customer needs[28]. - The company aims to enhance its market influence by improving product quality and technology levels in response to industry demands[56]. - The company will adopt a strategy of developing quality customers and entering premium supply chains, supported by technical services[107]. - The company plans to continue its market expansion and product development strategies[138]. - The company will utilize various financing channels, including equity and debt, to meet its funding needs for future development[107].
智新电子(837212) - 2021 Q4 - 年度财报