SYP(SH:600819)2022-03-30 16:00Financial Performance - In 2021, the company achieved operating revenue of 4.65 billion RMB, a year-on-year increase of 13.82%[22]. - The net profit attributable to shareholders was 106.72 million RMB, a decrease of 40.47% compared to the previous year[22]. - The net cash flow from operating activities was 583.88 million RMB, down 4.56% year-on-year[22]. - The basic earnings per share were 0.11 RMB, a decline of 42.11% from 0.19 RMB in 2020[23]. - The total assets at the end of 2021 were 7.18 billion RMB, an increase of 2.97% from the previous year[22]. - The weighted average return on equity was 3.07%, a decrease of 2.22 percentage points from 2020[23]. - The gross profit margin was 18.41%, down by 2.34 percentage points year-on-year, primarily due to rising raw material prices[50]. - The company reported a net cash flow from operating activities of 584 million RMB, a decrease of 4.56% year-on-year[52]. Dividend Policy - The company plans to distribute a cash dividend of RMB 0.35 per 10 shares, totaling approximately RMB 32.72 million based on a total share capital of 934,916,069 shares as of December 31, 2021[6]. - The company does not plan to increase capital reserves or issue bonus shares in the current profit distribution proposal[6]. - The company emphasizes a cash dividend policy, prioritizing cash dividends while ensuring the continuity and stability of profit distribution policies[126]. - The company has established a stable dividend return mechanism to ensure reasonable returns for investors and public shareholders[126]. - For the 2020 fiscal year, the company distributed a cash dividend of RMB 0.58 per 10 shares, amounting to a total of RMB 54,225,132.00 (including tax) which was implemented on August 23, 2021[127]. Governance and Compliance - The company has established a governance structure that ensures clear responsibilities and effective checks and balances among the board, supervisory board, and management[89]. - The independent directors constitute over one-third of the board, ensuring compliance with legal and regulatory requirements[90]. - The company has implemented over 200 internal control systems to enhance governance and risk management capabilities[93]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with shareholders[92]. - The company has maintained independence from its controlling shareholder, with no guarantees or non-operational fund occupation reported during the reporting period[90]. - The company has not faced any penalties from securities regulatory authorities in the past three years[108]. - The company has not disclosed any major contracts or their performance during the reporting period[172]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[7]. - The company faces risks from fluctuating raw material prices, particularly for natural gas and soda ash, which may impact profit margins[86]. - The company emphasizes risk control and has implemented a comprehensive risk management system to enhance financial data analysis and fund usage supervision[132]. - The company will monitor market changes and adjust strategies to mitigate risks from public health events and economic fluctuations[86]. Research and Development - The company focused on R&D for new products such as bulletproof glass for military vehicles and OLED display glass, with 179 valid patents by the end of 2021[31][32]. - The company is actively applying for invention patents to enhance intellectual property protection[32]. - The company is pursuing technology innovation projects, including a project for domestic production of high-performance glass, currently under expert review[31]. - The company aims to enhance its R&D efforts in high-value automotive glass products, aligning with the growing demand for advanced technologies in the automotive sector[43]. - The total R&D investment amounted to 211,176,584.29 RMB, representing 4.54% of the operating revenue[60]. Environmental Responsibility - The company has implemented a comprehensive environmental protection strategy, adhering to national and local regulations, and has established a robust management process for quality, environment, and safety[137]. - Total emissions for Tianjin Yaopi Glass were reported as 3.44 tons/year for SO2, 144.33 tons/year for NOX, and 4.19 tons/year for particulate matter, all within regulatory limits[138]. - The company has installed flue gas desulfurization and denitrification systems across its float glass production lines, with stable and compliant emission data during the reporting period[141]. - The company has engaged third-party organizations for regular environmental monitoring to ensure compliance with emission standards[144]. - The company has achieved a "green factory" certification in Tianjin, reflecting its commitment to environmental protection[156]. Market and Industry Trends - The automotive industry saw a recovery with production and sales reaching 26.08 million and 26.275 million vehicles, respectively, representing year-on-year growth of 3.4% and 3.8%[42]. - The company signed multiple high-profile projects, including the London Arts Hotel and various developments in Taiwan, Vietnam, and Australia, enhancing its market share in high-end glass products[35]. - The float glass segment saw increased revenue and profit due to strong market demand, with a focus on high value-added products[33]. - The production capacity of float glass is expected to increase to 1.272 billion weight boxes in 2022, with a consumption increase to 1.124 billion weight boxes, a year-on-year increase of 4.36%[78]. Employee and Management Structure - The total number of employees in the parent company is 160, while the main subsidiaries employ 2,630, resulting in a total of 2,790 employees[121]. - The company conducted 312 training sessions during the reporting period, with a total of 4,056 participants, covering various aspects of sales, production, and management[124]. - The company has established a performance evaluation mechanism for senior management linked to corporate performance, promoting accountability and effectiveness[130]. - The company has a performance-based compensation structure that combines fixed and performance pay to enhance organizational performance and strategic execution[122]. Financial Health - The company maintained a debt-to-asset ratio of 37.97%, an increase of 0.68 percentage points from the beginning of the year[49]. - The average financing cost for the company was maintained within budget, ensuring a stable cash flow and efficient use of idle funds[38]. - The company has a total of 3,295.33 million RMB in related party debts, with 2,486.43 million RMB owed to the company by its controlling shareholder and related parties[171]. - The company paid a total of 201.61 million yuan in taxes during the reporting period[154].