FYG,FUYAO GLASS(SH:600660)2022-03-17 16:00Financial Performance - The company achieved a total operating revenue of RMB 23,603.06 million in 2021, representing an increase of 18.57% compared to the previous year[11]. - The total profit for the year was RMB 3,818.84 million, up 22.81% year-on-year, while the net profit attributable to shareholders was RMB 3,146.17 million, reflecting a growth of 20.97%[11]. - Earnings per share increased to RMB 1.23, marking an 18.27% rise from the previous year[11]. - The company's operating revenue for 2021 was CNY 23.60 billion, an increase of 18.57% compared to CNY 19.91 billion in 2020[18]. - The net profit attributable to shareholders for 2021 was CNY 3.15 billion, representing a growth of 20.97% from CNY 2.60 billion in 2020[18]. - The net cash flow from operating activities reached CNY 5.68 billion, up by 7.56% from CNY 5.28 billion in 2020[18]. - The total assets at the end of 2021 amounted to CNY 44.78 billion, a 16.56% increase from CNY 38.42 billion in 2020[18]. - The net assets attributable to shareholders increased to CNY 26.31 billion, reflecting a growth of 21.82% from CNY 21.59 billion in 2020[18]. - The weighted average return on equity for 2021 was 12.96%, up by 0.90 percentage points from 12.06% in 2020[19]. - The operating profit margin for 2021 was 13.32%, slightly up from 13.05% in 2020[28]. - The gross profit margin for 2021 was 35.90%, slightly down from 36.50% in 2020[28]. Foreign Exchange and Risk Management - The company reported a foreign exchange loss of RMB 528.01 million, compared to a loss of RMB 422.47 million in the previous year; excluding this impact, total profit grew by 23.07%[12]. - The company has significant exposure to foreign exchange risks due to its overseas sales, which account for about 50% of its business, and plans to manage this risk through optimized currency settlements and local production[35]. - The company aims to mitigate cost fluctuation risks by integrating key material suppliers, improving material utilization, and enhancing production efficiency through automation and innovation[35]. - The company acknowledges the complex global economic environment and plans to adopt a cautious and pragmatic approach in its strategic planning for 2022[12]. Research and Development - The company plans to enhance R&D for high value-added products with independent intellectual property rights and continue building green factories[12]. - The company has a strong research and development capability, allowing it to respond quickly to the demands of the automotive industry's new trends[32]. - Research and development expenses increased by 22.27% to RMB 997.20 million, driven by enhanced project management and innovation efforts[73]. - Total R&D expenses amounted to RMB 997,203,019, representing 4.22% of operating revenue[84]. - The company aims to enhance its R&D capabilities and product value through a market-oriented innovation strategy[71]. Market Expansion and Strategy - The company plans to continue expanding its market presence and invest in new product development to drive future growth[18]. - The company aims to enhance its sales management mechanism and expand into new markets and customers to achieve higher performance[31]. - The company is focused on creating a high-quality international talent team to support its transformation and development[32]. - The company plans to invest a total of RMB 29.118 billion in 2022, including operating expenses of RMB 23.5 billion and capital expenditures of RMB 3.008 billion[33]. - The company is actively working to improve its environmental protection measures and employee awareness regarding sustainability practices[36]. Corporate Governance - The company strictly adheres to the requirements of the Company Law, Securities Law, and relevant corporate governance guidelines, ensuring no substantial differences exist in governance structure as per regulatory standards[112]. - The company maintains a clear separation between the controlling shareholder and the listed company, ensuring independent operations and no conflicts of interest[113]. - The company has established a robust information disclosure system, ensuring timely and accurate communication with shareholders and stakeholders[113]. - The company has implemented a whistleblower system to prevent fraud and protect the rights of shareholders and stakeholders[113]. - The company has adopted the Corporate Governance Code, ensuring compliance with the standards set forth by the Hong Kong Stock Exchange[114]. Environmental Responsibility - The company is committed to environmental sustainability and aims to align its operations with national policies and standards through technological and process innovations[36]. - The company has invested in advanced pollution control facilities, including two sets of flue gas treatment systems, to reduce emissions and improve air quality[178]. - The company has established a comprehensive waste management system for hazardous and solid waste, ensuring all disposal is compliant[186]. - The company has installed distributed photovoltaic power generation systems with a total installed capacity of 93 MW, providing reliable green and clean electricity since 2017[188]. - The company has achieved breakthroughs in key technologies such as lightweight ultra-thin glass and smart panoramic glass, enhancing user experience while promoting energy efficiency[189]. Dividend Policy - The proposed cash dividend for 2021 is RMB 10 per 10 shares, totaling RMB 2,609.74 million, with no stock dividends or capital reserve transfers planned[5]. - The company plans to distribute a cash dividend of RMB 10 per 10 shares, totaling RMB 2,609,743,532 based on a total share capital of 2,609,743,532 shares as of December 31, 2021[37]. - The cash dividend distribution is expected to occur by June 27, 2022, following approval from the shareholders' meeting[37]. - For individual shareholders holding shares for over 1 year, dividend income is exempt from personal income tax; for those holding shares for less than 1 month, the full amount is taxable[37]. Employee and Management Structure - The total number of employees in the company and its main subsidiaries is 26,532, with 24,815 in key subsidiaries[163]. - The company has a total of 4,175 employees with a bachelor's degree or higher, representing a significant portion of the workforce[164]. - The management team is led by a general manager, who is responsible for implementing board resolutions and reporting to the board[134]. - The company has a stable management team with no changes in shareholding for key executives during the reporting period[122]. - The total pre-tax remuneration received by directors, supervisors, and senior management during the reporting period amounted to 27.57 million yuan[122].