TFE(SH:600237)2022-03-21 16:00Financial Performance - In 2021, the company achieved a total operating revenue of ¥1,000,092,345.38, representing an increase of 18.06% compared to ¥847,086,629.33 in 2020[24] - The net profit attributable to shareholders of the listed company for 2021 was ¥50,855,184.69, a significant increase of 542.99% from ¥7,909,179.27 in 2020[24] - The net profit after deducting non-recurring gains and losses was ¥45,497,739.30, up 376.38% from -¥16,461,941.11 in the previous year[24] - The cash flow from operating activities reached ¥204,422,641.03, marking a 196.15% increase from ¥69,025,898.43 in 2020[24] - Basic earnings per share for 2021 were ¥0.0901, a 543.57% increase from ¥0.0140 in 2020[26] - The total comprehensive income for 2021 was ¥45,384,793.47, compared to ¥9,642,141.51 in 2020, indicating a strong performance[187] - The company reported a net cash increase of ¥19,924,524.16 in cash and cash equivalents, reversing a decline of ¥16,770,946.46 from the previous year[193] Assets and Liabilities - The company's total assets as of the end of 2021 were ¥1,736,176,268.97, a 3.51% increase from ¥1,677,367,227.90 at the end of 2020[25] - Total liabilities reached CNY 536,982,504.28, a marginal increase from CNY 533,506,105.68, showing a growth of approximately 0.9%[179] - Shareholders' equity rose to CNY 1,199,193,764.69 from CNY 1,143,861,122.22, marking an increase of about 4.9%[179] - The cash and cash equivalents increased to CNY 352.36 million in 2021 from CNY 242.49 million in 2020, reflecting a growth of approximately 45.4% year-over-year[177] Research and Development - R&D expenses rose by 32.39% to CNY 36,097,461.20, reflecting the company's commitment to enhancing its research and development efforts[46] - The company holds a total of 251 patent applications, with 188 patents granted, including 29 invention patents[41] - The number of R&D personnel is 206, representing 11.54% of the total workforce[57] - The management emphasized the importance of R&D, allocating 15% of revenue towards innovation and technology advancements[92] Market Strategy and Expansion - The company is actively expanding its market presence both domestically and internationally, utilizing direct sales and export through subsidiaries[37] - The company plans to achieve a revenue of 1.1 billion yuan and a cost of 900 million yuan for 2022, with a focus on project construction and innovation[76] - Market expansion strategies include targeting new geographical regions, with plans to enter at least two new markets by the end of the next fiscal year[92] - The capacitor film market is expected to expand due to growth in renewable energy sectors, with increasing demand for film capacitors in photovoltaic and wind power applications[73] Governance and Compliance - The company has established an independent financial department with a separate accounting system and management policies, ensuring no interference from the controlling shareholder in financial decisions[85] - The company has conducted a self-inspection of its governance structure for the years 2018, 2019, and 2020, confirming compliance with relevant regulations[83] - There are no significant differences between the company's governance practices and the regulatory requirements set by the China Securities Regulatory Commission[83] - The company has not reported any major changes in competitive conditions that would affect its operations[85] Environmental and Social Responsibility - The company allocated a total of 354,420 RMB for poverty alleviation and rural revitalization efforts, including financial aid for students and support for local agricultural products[130] - The company received a "good" rating in the 2020 urban-rural integration party building and poverty alleviation effectiveness assessment, with its designated village assistance personnel rated as "excellent"[131] - The company is classified as a "key pollutant discharge unit" by the Tongling Ecological Environment Bureau, with wastewater discharge meeting the standards of COD 500 mg/L and NH3-N 45 mg/L[122] Financial Management and Audit - The financial statements for the year ended December 31, 2021, were audited and found to fairly reflect the company's financial position and operating results[166] - The audit opinion confirms that the financial statements were prepared in accordance with accounting standards, ensuring transparency and reliability for stakeholders[167] - The audit identified no significant misstatements in the other information provided in the annual report, ensuring consistency with the financial statements[171] Future Outlook - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[180] - Future guidance suggests a projected revenue growth of 10% for the upcoming fiscal year, reflecting optimism in market conditions[91] - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[92]