CDXG(SH:600353)2022-03-15 16:00Financial Performance - In 2021, the company achieved a total revenue of ¥1,006,758,282.73, representing an increase of 11.61% compared to ¥902,035,497.45 in 2020[23] - The net profit attributable to shareholders of the listed company for 2021 was ¥57,951,024.43, an increase of 8.24% from ¥53,539,526.04 in 2020[23] - The net profit after deducting non-recurring gains and losses was ¥52,868,458.08, which is a significant increase of 91.71% compared to ¥27,577,109.08 in 2020[23] - The company's net cash flow from operating activities was ¥24,607,898.50, a decrease of 43.23% from ¥43,349,312.27 in 2020[23] - The total assets at the end of 2021 were ¥1,847,812,678.82, reflecting a growth of 14.27% from ¥1,617,104,604.03 at the end of 2020[23] - The net assets attributable to shareholders of the listed company increased by 5.34% to ¥1,198,575,079.34 at the end of 2021[23] - The basic earnings per share for 2021 were ¥0.1069, up 7.87% from ¥0.0991 in 2020[24] - The diluted earnings per share also stood at ¥0.1069, marking a 7.87% increase compared to the previous year[24] - The weighted average return on equity for 2021 was 4.96%, an increase of 1.93 percentage points from 4.76% in 2020[27] Operational Challenges and Strategies - The company faced challenges such as rising raw material prices and production disruptions due to power restrictions and pandemic-related shutdowns[33] - The company implemented cost reduction measures to mitigate the impact of rising raw material prices, achieving record sales volumes in its switch tube products[33] - The company is focused on high-quality development and expanding its market share in the new energy and military industries[33] - The company has implemented a strategy to stockpile key project components and establish strategic partnerships with major component manufacturers to reduce procurement costs[36] - The company is enhancing its digital and intelligent manufacturing capabilities, aiming for real-time monitoring and improved operational efficiency through smart manufacturing systems[106] Subsidiary Performance - The subsidiary Xuci Company achieved an annual production capacity of 70 tons of powder and 1.2 million pieces of substrates, marking a significant step towards becoming a leading player in the electronic ceramics market[33] - The company’s subsidiary, Ruikong Chuanghe, achieved revenue of 100.88 million yuan, a year-on-year increase of 76.77%, and net profit of 15.03 million yuan, up 27.33% year-on-year[36] - The total revenue of the subsidiary Yige Machinery reached 129.67 million CNY, representing a year-on-year growth of 29.89%[91] - The net profit of Yige Machinery was 30.70 million CNY, reflecting a significant increase in production capacity and product quality improvements[91] - Xi'an Ruikong achieved a revenue of 100.88 million CNY, a year-on-year increase of 76.77%, driven by the demand for military equipment informationization and localization[91] Market and Product Development - The company is focused on the development and sales of vacuum electronic devices, with a production capacity of over 1 million vacuum interrupters annually, making it the largest manufacturer in China[47] - The company has expanded its business into the precision components and embedded computer industry through acquisitions, including controlling stakes in Yige Machinery and Ruikong Chuanghe[47] - The company has established a joint venture, Xuci New Materials, to enhance its capabilities in the electronic ceramics sector, specifically targeting aluminum nitride powder and substrate products[47] - The company aims to leverage existing customer resources and industry experience to expand its client base and invest in new product trials[36] - The company is considering strategic acquisitions to bolster its competitive position and diversify its product portfolio[129] Research and Development - Research and development expenses rose to CNY 38,859,914.32, a 10.38% increase, reflecting the company's commitment to product innovation[53] - The company is investing in R&D for new technologies, aiming to enhance product offerings and improve operational efficiency[129] - The company is recognizing the importance of technological innovation and is increasing R&D investments to develop new products that meet market demands[110] Environmental and Safety Management - The company has achieved 100% compliance in the disposal of general solid waste and hazardous waste, with all hazardous waste managed by qualified disposal units[171] - The company has implemented energy-saving measures, resulting in a 10% reduction in electricity consumption despite increased production[181] - The company has established a comprehensive emergency response plan for environmental incidents, which was approved by experts in May 2021[174] - The company has been recognized as an "Environmental Integrity Enterprise" for three consecutive years, reflecting its commitment to environmental management[172] Corporate Governance and Management - The company has established a remuneration and assessment management system for directors, supervisors, and senior management[139] - The company has strengthened its internal control implementation and auditing processes to ensure compliance and effectiveness[112] - The company continues to enhance its corporate governance structure and internal control mechanisms to promote sustainable and healthy development[118] - The company has maintained the independence of its assets, personnel, finance, and operations[118] Future Outlook - Future outlook indicates a projected revenue increase of 10% for the next fiscal year, driven by new product launches and market expansion strategies[129] - The company has set a performance guidance of achieving a gross margin of 30% for the upcoming quarter[129] - The company aims to enhance its market influence and upgrade traditional industries by focusing on the new energy power system, leveraging its technical advantages in energy conversion and control technology[104]