Carthane(SH:603037)2022-04-29 16:00Financial Performance - The company reported a net profit of CNY 85,163,496.64 for 2020, with a 5% incentive fund of CNY 4,258,000 allocated for the employee stock ownership plan, resulting in a net profit of CNY 81,544,196.64 after fund allocation[12]. - As of December 31, 2021, the company had undistributed profits of CNY 281,116,537.02 and proposed a cash dividend of CNY 6.0 per 10 shares, subject to shareholder approval[6]. - In 2021, the company achieved operating revenue of CNY 548.40 million, representing a year-on-year increase of 10.92%[26]. - The net profit attributable to shareholders of the listed company was CNY 84.22 million, an increase of 1.81% compared to the previous year[26]. - The net profit after deducting non-recurring gains and losses was CNY 79.55 million, reflecting a significant increase of 17.63% year-on-year[26]. - The company's total assets at the end of 2021 were CNY 1,034.45 million, up 7.39% from the end of 2020[27]. - The basic earnings per share for 2021 was CNY 0.80, a 2.56% increase from CNY 0.78 in 2020[28]. - The weighted average return on equity was 9.52%, slightly down from 9.63% in 2020[28]. - The company reported a sales net profit margin of 15.4% for the year 2021[34]. - The gross margin for automotive parts was 35.76%, with a slight increase of 0.07 percentage points compared to the previous year[68]. Market and Sales Performance - The automotive market in China saw production and sales of 26.27 million vehicles in 2021, with a year-on-year growth of 3.8%[34]. - The company sold approximately 2.623 million units of shock-absorbing components for new energy vehicles, capturing about 23.4% of the new energy passenger vehicle market[41]. - The company achieved sales of approximately 709,000 units of lightweight pedal assemblies for new energy vehicles, representing about 18.3% of the new energy passenger vehicle market[42]. - The overall automotive market in China saw production and sales of 26.08 million and 26.275 million vehicles in 2021, reflecting year-on-year growth of 3.4% and 3.8% respectively[43]. - The new energy vehicle market in China saw production and sales of 3.545 million units and 3.521 million units, respectively, with a year-on-year growth of 160%[82]. Research and Development - The company applied for and received acceptance for 25 patents during the reporting period, bringing the total number of accepted patents to 149, with 101 patents granted[38]. - The company’s shock-absorbing business received recognition from major OEMs such as NIO, General Motors, and Geely, enhancing its product development efficiency[37]. - The company’s lightweight pedal business developed a brake pedal with energy recovery, which has entered mass production for Chery's new projects[36]. - The company’s production automation improvements led to significant enhancements in product quality and raw material utilization[39]. - The company’s R&D investments in new materials have effectively controlled product costs, especially amid significant fluctuations in raw material prices[37]. - R&D expenses increased by 36.37% to RMB 47.51 million, reflecting the company's commitment to innovation and product development[68]. - The number of R&D personnel is 125, making up 25.2% of the total workforce, with a diverse educational background[77]. Strategic Initiatives - The company plans to repurchase shares using funds between CNY 30 million and CNY 60 million, with the aim of implementing an employee stock ownership plan[13]. - The company plans to invest 100 million RMB to establish a wholly-owned subsidiary, Shanghai Xiechuang Enterprise Management Co., Ltd., as an investment platform[88]. - The company is actively pursuing international expansion, establishing operations in the US and Europe, and offices in Japan to enhance customer service and global operations[66]. - The company aims to ensure sales revenue growth by actively responding to macroeconomic changes and seizing new business opportunities[106]. - The company plans to enhance its international market development for shock absorber business and pedal business, focusing on expanding new customer bases and increasing market share for new products[106]. Governance and Management - The company has a diverse board with members holding various significant positions in other organizations, enhancing its governance structure[118]. - The company has maintained the same number of shares held by key executives throughout the reporting period, indicating stability in ownership[117]. - The company’s board of directors has undergone changes, with multiple appointments and resignations of key personnel during the reporting period[126]. - The company has established a risk management-based internal control system, continuously improving and optimizing key business processes to enhance operational efficiency[151]. - The company has implemented a long-term service stockholding plan for core employees, aimed at enhancing employee retention and motivation[137]. Environmental and Social Responsibility - The company has implemented comprehensive environmental protection measures, including waste management protocols for solid waste and hazardous materials[155]. - The company has invested in a distributed rooftop photovoltaic power generation project with a total capacity of 1MWp, generating approximately 560,000 kWh of solar power in 2021[159]. - The company has actively engaged in social responsibility by donating 100,000 yuan to support education in Liangshan, Sichuan[167]. - The company has achieved ISO14001 environmental management system re-certification and OHSAS18001 occupational health and safety management system certification during the reporting period[166]. Financial Management - The company has a cash dividend policy, proposing a distribution of 6.0 yuan (including tax) for every 10 shares based on a total share capital of 104,901,350 shares[145]. - The company has maintained a strong cash position with cash reserves of 30 million RMB, ensuring liquidity for future investments[176]. - The company has a total of 15,000 million RMB in principal guaranteed financial products, with no overdue amounts[185]. - The company has a total of 11,000 million RMB in floating principal guaranteed financial products, with no overdue amounts[185]. - The company has not faced any significant legal issues or penalties related to its operations during the reporting period[178].