SMTC(SH:600822)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥6,566,846,241.33, a decrease of 16.41% compared to ¥7,855,730,894.91 in 2020[19] - Net profit attributable to shareholders was ¥147,716,231.18, representing an increase of 28.97% from ¥114,534,085.89 in the previous year[19] - The net profit after deducting non-recurring gains and losses was ¥35,295,584.43, down 30.34% from ¥50,664,751.57 in 2020[19] - The net cash flow from operating activities was negative at -¥30,611,587.21, a decline of 115.04% compared to ¥203,481,047.21 in 2020[19] - Total assets at the end of 2021 were ¥2,009,605,370.00, down 8.33% from ¥2,192,205,414.78 at the end of 2020[19] - The company's basic earnings per share for 2021 were ¥0.30, an increase of 30.43% from ¥0.23 in 2020[20] - The weighted average return on equity was 17.20%, an increase of 1.51 percentage points from 15.69% in the previous year[20] - The company achieved a total sales revenue of 2.426 billion yuan for new cars, a year-on-year decrease of 48.34%, with total new car sales of 14,186 units, down 36.04%[40] - The used car sales reached 100,500 units, showing a slight increase of 0.87% year-on-year[41] - The sales revenue from the non-ferrous metal trading center was 3.8 billion yuan, with copper sales revenue at 3.694 billion yuan, up 26.72% year-on-year, despite a 15.6% decline in sales volume to 59,500 tons[41] - The logistics revenue increased by 10.65% year-on-year, reaching 12.944 million yuan, driven by market expansion and internal optimization[41] - The chemical products business focused on the fine chemical market, achieving sales of 9.746 million yuan, a year-on-year growth of 7%[41] Cash Flow and Investments - The company reported a significant increase in cash received from operating activities, totaling approximately ¥304.5 million in 2021, a 185.26% increase compared to ¥106.7 million in 2020[52] - The company experienced a 342.97% increase in cash payments for the acquisition of fixed assets, amounting to ¥29.4 million in 2021, compared to ¥6.6 million in 2020[52] - The company generated an investment income of ¥119.92 million from the sale of 100% equity in Shanghai Lingxing Hazardous Chemical Logistics Co., Ltd.[53] - The company reported a total cash inflow of 31,426,711.26 RMB for the year, compared to 330,168,024.09 RMB in the previous year, showing a significant decrease[184] Market and Business Strategy - The company has established new sales and delivery centers for electric vehicles, including the SAIC R car experience center and ID experience center in shopping malls[31] - The company plans to open additional 4S stores in the Fengxian area to enhance its market presence[32] - A rapid response team for new energy vehicle after-sales service has been established to improve service quality and technical capabilities[32] - The company aims to leverage its partnership with SAIC Group to expand its electric vehicle business through new experience centers and authorized stores[32] - The company is focusing on optimizing its business structure and accelerating new business layouts to adapt to market challenges[31] - The company plans to enhance its second-hand car business through an integrated model of online and offline operations, aiming for a transformation from market management to service-oriented operations[76] - The non-ferrous metal trading center will explore digital transformation and innovate pricing mechanisms for international copper spot prices[77] - The logistics business will enhance service quality and expand its network, focusing on the integration of metal logistics and technology empowerment[77] - The chemical products trade will leverage brand agency advantages and accelerate the development of new retail projects in fine chemicals[77] Risk Management and Governance - The company has described potential risks related to future plans and development strategies in the report[6] - The company emphasizes the importance of risk management and internal controls to ensure sustainable development and operational stability[76] - The company has established a safety risk checklist and is committed to enhancing safety management and accountability measures[78] - The company maintains independence from its controlling shareholder, ensuring no interference in operational activities[113] - The internal control audit report received a standard unqualified opinion, indicating effective internal control practices[112] Human Resources and Corporate Governance - The total compensation for key executives amounted to 517.86 million CNY for the reporting period[89] - The company reported a net increase of 141.3 million CNY in compensation for the general manager, indicating a significant performance recognition[89] - The company has maintained a stable board composition with no changes in shareholding among directors during the reporting period[89] - The company has implemented a salary policy where senior management salaries are based on a fixed salary and performance pay, directly linked to current operating performance[106] - The company emphasizes the importance of employee training, including new graduate onboarding and skills enhancement for existing staff[108] - The company has established a strategic committee to oversee long-term planning and direction, consisting of key board members[99] Financial Position and Liabilities - The total liabilities decreased from CNY 1,681,966,247.52 in 2020 to CNY 1,567,432,161.63 in 2021, showing a reduction of approximately 6.8%[192] - The company provided guarantees totaling ¥804,131,980.55 to its subsidiaries during the reporting period[140] - The outstanding guarantees to subsidiaries at the end of the reporting period were ¥286,227,149[140] - The company has no significant litigation or arbitration matters reported for the year[124] - The company has no bankruptcy reorganization matters reported for the year[124] Future Outlook - The company projects a revenue of 8.445 billion yuan for 2022, with a budgeted expense of 390.78 million yuan[75] - The company aims to achieve sustainable growth through innovation and strategic investments in key areas[90] - The company will closely monitor macroeconomic policies to capitalize on favorable factors for growth[80] - The company plans to enhance promotional efforts and expand sales channels to capture the pent-up demand for automotive consumption post-pandemic[80]