HFM(SH:603011)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was RMB 1,206,277,732.61, representing a 43.96% increase compared to RMB 837,954,489.00 in 2020[21]. - The net profit attributable to shareholders for 2021 was RMB 64,336,509.28, a significant increase of 148.38% from RMB 25,902,656.12 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was RMB 46,416,937.13, recovering from a loss of RMB 7,285,588.73 in 2020, marking a 737.11% improvement[21]. - The total assets of the company increased by 16.66% to RMB 3,105,222,726.19 at the end of 2021, up from RMB 2,661,687,036.13 in 2020[21]. - The company's cash flow from operating activities showed a negative net amount of RMB -18,536,639.79, a decline of 153.24% compared to RMB 34,816,816.43 in 2020[21]. - The net assets attributable to shareholders at the end of 2021 were RMB 1,756,647,394.54, reflecting a 3.87% increase from RMB 1,691,243,872.86 in 2020[21]. - The company achieved a total operating revenue of 1,206.28 million RMB in 2021, representing a 43.96% increase compared to the previous year[31]. - The net profit attributable to the parent company was 64.34 million RMB, an increase of 148.38% year-on-year[31]. - Basic earnings per share rose to 0.14 RMB, a 133.33% increase from 0.06 RMB in 2020[22]. - The weighted average return on equity increased to 3.73%, up by 2.2 percentage points from 1.53% in 2020[22]. Research and Development - Research and development expenses rose by 36.95% to CNY 70,395,649.70, driven by increased salaries and materials for R&D personnel[89]. - The company actively pursued technology innovation, resulting in the addition of two authorized invention patents during the reporting period[37]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[145]. - The company is committed to increasing R&D investment to keep pace with rapid technological advancements in the industry and maintain its competitive edge[131]. - The company employed 293 R&D personnel, accounting for 17.67% of the total workforce[100]. Product Development and Innovation - Significant new product developments included high-pressure forming equipment and composite material production lines[36]. - The company launched multiple new products, including the "Kunpeng" deep learning sorting equipment, enhancing material sorting capabilities significantly[41]. - New product developments include the overall expansion axle production line, which improves quality and reduces weight for truck axles, featuring advanced control systems for high-precision operations[58]. - The company has developed high-pressure forming equipment for irregular pipe fittings, enhancing market competitiveness with proprietary high-capacity, high-flow booster systems[59]. - The company has developed LG and LGS series general-purpose grain color sorters, utilizing deep learning algorithms to enhance sorting accuracy and yield[65]. Market and Industry Trends - The company faced challenges such as rising raw material prices and chip shortages but managed to expand its revenue scale[31]. - The high-end forming machine tool industry is experiencing a shift towards domestic production, with increasing competitiveness against imported equipment in terms of performance, price, and service[117]. - The optical sorting equipment market is seeing a rapid increase in domestic market share, breaking the import monopoly in various sectors[122]. - The future of the machine tool industry will focus on automation and digitalization, enhancing operational efficiency and decision-making capabilities[119]. - The industry is moving towards high-end, intelligent, and energy-efficient equipment, with a strong demand for lightweight solutions[120][121]. Corporate Governance - The company held one annual general meeting and two extraordinary general meetings during the reporting period, ensuring compliance with legal and regulatory requirements[136]. - The board of directors consists of 9 members, including 3 independent directors, and has established four specialized committees to enhance governance[137]. - The supervisory board is composed of 5 members, including 2 employee representatives, and actively supervises major company matters and financial reports[138]. - The company strictly adheres to information disclosure obligations, ensuring timely and accurate communication with investors through various channels[138]. - The company has maintained independence from its controlling shareholders, ensuring no non-operational use of company funds by them[139]. Social Responsibility and Community Engagement - The company emphasizes social responsibility, aiming to enhance economic efficiency while actively participating in social welfare initiatives[189]. - The company established the "Jianwen Scholarship Fund" in 2021, supporting 50 impoverished students from key universities in Anhui Province[188]. - The company has a strong emphasis on community engagement, fostering a harmonious community environment through volunteer services[190]. - The company is committed to protecting the legal rights of employees and maintaining integrity with suppliers and customers[189]. - The company actively supports local economic development and takes on social responsibilities[190]. Financial Management and Shareholder Returns - The company has established a cash dividend policy to ensure stable returns for investors, with a commitment to distribute at least 20% of the distributable profits in cash during the growth phase[167]. - The board of directors will prioritize cash dividends when conditions for cash distribution are met, with a minimum cash dividend ratio of 20% during the growth phase with significant capital expenditures[168]. - The company aims to maintain a sustainable and stable dividend distribution policy, considering the reasonable return to investors and the company's long-term development[168]. - The company has committed to a three-year shareholder return plan from 2021 to 2023, emphasizing cash dividends[167]. - The independent directors play a crucial role in ensuring the implementation of the cash dividend policy and addressing any concerns from minority shareholders[172].