TJSMW(SH:600577)2022-04-18 16:00Financial Performance - The company achieved a net profit of ¥239,819,187.24 for the year 2021, with a proposed cash dividend of ¥0.30 per share[6]. - The total distributable profit available to shareholders as of December 31, 2021, was ¥431,773,298.91 after accounting for the previous year's undistributed profits and cash dividends[6]. - The company plans to allocate 10% of the net profit, amounting to ¥23,981,918.72, to the statutory surplus reserve[6]. - The company's operating revenue for 2021 was ¥18,329,777,052.15, representing a 47.26% increase compared to ¥12,446,903,327.22 in 2020[27]. - Net profit attributable to shareholders for 2021 was ¥549,139,404.49, a 31.09% increase from ¥418,902,737.52 in 2020[27]. - The basic earnings per share for 2021 was ¥0.28, an increase of 27.27% from ¥0.22 in 2020[27]. - The weighted average return on equity for 2021 was 13.25%, an increase of 1.77 percentage points from 11.48% in 2020[27]. - The company achieved a total revenue of 17,853,132,321.22 RMB, representing a year-over-year growth of 47.01%[61]. - The company's net profit reached 64,413.40 million RMB, an increase of 28.57% compared to the previous year[51]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥498,187,467.54, a decrease of 220.67% compared to ¥412,858,537.81 in 2020[27]. - The company’s operating cash flow showed a negative net amount of -498,187,467.54 RMB, primarily due to the impact of rising copper prices[56]. - Cash received from sales and services increased by 58.49% to ¥17,664,474,186.65 compared to ¥11,145,244,258.39 in the previous year[92]. - Cash received from tax refunds increased by 210.08% to ¥37,805,329.55, primarily due to increased export tax rebates[92]. - Total investment during the reporting period amounted to ¥438,187,156.45, representing an increase of 606.21% compared to the previous year's investment of ¥62,047,704.31[107]. Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[10]. - The company faces risks from macroeconomic fluctuations, production disruptions due to COVID-19, and raw material price volatility, which it plans to mitigate through strategic adjustments and cost control measures[135][138]. - The company has established a risk control management committee to monitor customer dynamics and mitigate financial risks associated with accounts receivable[138]. Corporate Governance - The audit report issued by Rongcheng CPA was a standard unqualified opinion, ensuring the accuracy of the financial statements[5]. - The company has established a comprehensive internal control system, which was audited and deemed effective by Rongcheng Accounting Firm[198]. - The company has implemented comprehensive risk management and internal control systems to enhance operational efficiency and risk resilience[142]. - The company has maintained compliance with the cash dividend guidelines set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[191]. Research and Development - The total R&D expenditure amounted to ¥181,928,853.15, with no capitalized R&D costs[79]. - R&D investment accounted for 0.99% of total revenue in 2021[81]. - The company has completed various R&D projects with a total investment exceeding 10 million CNY in 2021[86]. - The company has ongoing R&D projects for high-temperature self-adhesive enameled wire with a planned investment of 150,000 CNY, with actual spending of 148.73 thousand CNY, completed in 2021[84]. Market Position and Strategy - The company is positioned as one of the top three manufacturers of special electromagnetic wire globally, with significant advantages in management, quality, and technology[46]. - The company has established long-term strategic partnerships with well-known clients such as T Company, General Motors, BYD, and LG, ensuring stable demand and strong financial backing[48]. - The company plans to expand its market share in high-end applications such as new energy vehicles and renewable energy sectors[131]. - The company is committed to digitalizing all business processes and building an industrial internet platform to improve supply chain management and collaboration[134]. Shareholder Engagement - The company emphasizes shareholder returns, actively engaging with investors to enhance understanding and recognition of its operations[142]. - The company has maintained a commitment to protecting the rights of minority shareholders, ensuring fair treatment in all corporate actions[142]. - The company has actively sought investor feedback to refine its cash dividend policy in accordance with regulatory guidelines[189]. Employee and Management Compensation - The total pre-tax compensation for the chairman, Li Xiao, was 1.7 million CNY[150]. - The total pre-tax compensation for the vice chairman, Chen Bin, was 1.7 million CNY[150]. - The total pre-tax compensation for the general manager, Qin Bing, was 900,000 CNY[150]. - Total compensation for all directors, supervisors, and senior management at the end of the reporting period amounted to 11.66 million yuan[167].