GLARUNTECH(SH:600562)2022-04-27 16:00Financial Performance - In 2021, the company's operating revenue was CNY 3,432,159,755.02, a decrease of 4.81% compared to 2020[15]. - The net profit attributable to shareholders was CNY 525,933,613.94, an increase of 12.75% year-on-year[15]. - The net profit after deducting non-recurring gains and losses was CNY 465,104,857.94, reflecting a growth of 16.80% compared to the previous year[15]. - Basic earnings per share for 2021 increased by 10.53% to CNY 0.42 compared to CNY 0.38 in 2020[16]. - The net profit attributable to shareholders for Q4 2021 was CNY 264,935,358.79, with a total annual revenue of CNY 3,432,000,000.00[17]. - The company achieved a total R&D investment of 184.59 million yuan, representing a year-on-year increase of 5.66%[25]. - The company reported a significant increase of 101.54% in contract assets, totaling CNY 351,110,878.30, due to revenue recognition from ongoing projects[53]. - The company reported a total profit of 598,627,576.47 RMB for 2021, compared to 577,593,243.25 RMB in 2020, showing an increase of approximately 3.5%[166]. - The company reported a total comprehensive income of 541,784,293.20 RMB for 2021, compared to 462,098,446.87 RMB in 2020, marking an increase of approximately 17.2%[167]. Cash Flow and Assets - The company's cash flow from operating activities was CNY 26,661,751.48, a significant decline of 93.06% from 2020[15]. - The total assets of the company were CNY 7,213,270,797.96, a decrease of 7.21% compared to the end of 2020[15]. - The total current assets decreased to CNY 6,073,862,838.96 from CNY 6,655,733,055.31, a decline of approximately 8.7%[161]. - Cash and cash equivalents increased to CNY 1,169,577,669.27 from CNY 1,070,825,991.11, representing a growth of about 9.2%[160]. - Accounts receivable decreased to CNY 2,007,766,930.62 from CNY 2,800,918,143.05, a reduction of approximately 28.3%[160]. - The company reported a significant decrease in trading financial assets, with a change of -100,034,555.56 RMB, resulting in a year-end balance of 0.00 RMB[58]. - The company reported a total cash inflow from investment activities of ¥458.14 million, a notable increase from ¥319.13 million in the previous year[174]. Dividends and Shareholder Returns - The company proposed a cash dividend of CNY 1.28 per 10 shares, totaling CNY 158,957,803.52, which represents 30.22% of the net profit attributable to shareholders[4]. - The company has a cash dividend policy that mandates a minimum of 10% of distributable profits to be distributed as cash dividends in profitable years[99]. - The company allocated 140,329,935.95 RMB for dividend distribution, compared to 13,069,365.02 RMB in the previous year, reflecting a commitment to returning value to shareholders[175]. Research and Development - The company has made substantial advancements in key technologies for the "Ziwuyue Phase II" MST space weather radar, with several core technologies at the leading level domestically and internationally[25]. - The company has applied for 8 technology invention patents and received 5 patent authorizations during the reporting period[25]. - The company is focused on industrial software and intelligent manufacturing, aiming to enhance the resilience and competitiveness of China's industrial system[30]. - The company achieved significant advancements in radar and related systems, with products covering military electronics, air traffic control, and public meteorology[33]. Governance and Compliance - The company has established a robust corporate governance structure, complying with relevant laws and regulations, and held multiple board meetings during the reporting period[73]. - The company is committed to risk prevention and compliance management, integrating risk control with internal auditing processes[68]. - The company has implemented a diversified compensation incentive system to motivate employees and improve performance[68]. - The company has a structured process for approving significant financial decisions, including loans and joint ventures[89]. Market Position and Strategy - The company successfully secured multiple major projects, including 10 sets of secondary radar for the Civil Aviation Administration, enhancing its market position[21]. - The company is positioned to benefit from the growing demand for radar systems in both military and civilian applications, with significant market opportunities ahead[29]. - The company is committed to becoming a leading supplier of smart rail transit solutions, focusing on high safety and reliability[65]. - The company plans to optimize its management system to reduce costs and improve operational efficiency[67]. Risks and Challenges - The ongoing COVID-19 pandemic poses significant risks to international trade and business operations, impacting the company's performance[69]. - Changes in international political dynamics could adversely affect the company's military radar export capabilities, necessitating enhanced risk management strategies[70]. - The company faces intensified market competition, prompting efforts to strengthen core competencies and improve cost efficiency[71]. Subsidiaries and Shareholding Structure - The company has five subsidiaries, all of which are either wholly owned or majority owned, indicating strong control over its operations[188]. - The largest shareholder, China Electronics Technology Group Corporation No. 14 Research Institute, holds 653,238,756 shares, representing 52.60% of the total shares[146]. - The company’s shareholding structure reflects a significant concentration of ownership among a few major shareholders[146]. Environmental and Social Responsibility - The company strictly adheres to environmental regulations, with no incidents of pollution or complaints reported during the reporting period[106]. - The company has passed ISO 14001 environmental management system certification, emphasizing its commitment to sustainable development[107].