TANYUAN TECH(SH:603133)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was ¥323,179,150.13, a decrease of 42.55% compared to ¥562,579,104.27 in 2020[20] - The net loss attributable to shareholders for 2021 was ¥459,374,654.39, representing a significant increase of 426.00% from a loss of ¥87,333,643.13 in 2020[20] - The basic earnings per share for 2021 was -¥2.19, a decline of 434.15% compared to -¥0.41 in 2020[22] - The weighted average return on equity for 2021 was -77.64%, a decrease of 67.33 percentage points from -10.31% in 2020[22] - The net cash flow from operating activities for 2021 was -¥24,701,130.76, a decline of 137.65% compared to a positive cash flow of ¥65,608,235.79 in 2020[20] - The total assets at the end of 2021 were ¥370,557,263.21, down 53.78% from ¥801,644,071.83 at the end of 2020[21] - The company achieved a total revenue of 323.18 million RMB for the reporting period, with a net profit attributable to shareholders of -459.37 million RMB[30] - The net profit after deducting non-recurring gains and losses was -483.88 million RMB[30] - The company's revenue for the reporting period was approximately CNY 323.18 million, a decrease of 42.55% compared to the previous year[37] - The company's gross profit margin for the consumer electronics segment decreased by 11.04 percentage points, with revenue dropping by 42.51%[40] - The company reported a significant increase in other receivables, rising to ¥16.76 million in 2021 from ¥1.77 million in 2020, an increase of over 846%[165] - The company reported a total comprehensive loss of -481,077,531.05 RMB for 2021, compared to a total comprehensive income of 21,711,382.13 RMB in 2020[178] Operational Challenges - The decline in revenue was attributed to a decrease in smartphone shipments and significant sales drops from some terminal customers, leading to underutilization of production capacity[30] - The company faced challenges including fixed asset impairment provisions from its subsidiary, market competition, and rising raw material costs, which negatively impacted profit margins[30] - The production volume of high thermal conductivity graphite films was 1.13 million square meters, a decrease of 57.06% year-on-year[43] - Fixed asset impairment provisions totaled CNY 36.32 million due to significant revenue decline from thermal films and heat pipes[158] - The company decided to cease operations at its subsidiary, Haicheng Optoelectronics, leading to an impairment provision of CNY 175.54 million[158] - The subsidiary, Shenzhen Hongtong New Materials, has been continuously losing money since its acquisition in 2018, resulting in a fixed asset impairment provision of CNY 13.29 million[158] Research and Development - The company has 97 authorized patents, including 43 invention patents, and 26 patents are currently under application[33] - The company's R&D expenses decreased by 54.28% to CNY 24.93 million during the reporting period[37] - Total research and development investment accounted for 7.71% of operating revenue, with a total of ¥24,925,859.97 spent on R&D[52] - The company has 43 R&D personnel, representing 8.67% of the total workforce, with a focus on enhancing product technology through collaborations with academic institutions[53] - The company plans to increase R&D investment in graphite new materials and develop new applications in various industries[66] - The management team highlighted ongoing research and development efforts aimed at introducing innovative technologies in the upcoming quarters[79] Cash Flow and Investments - The company reported a cash flow from operating activities of -48.49 million RMB in the fourth quarter[24] - The total amount of non-recurring gains and losses for the year was 24.51 million RMB, with a significant portion attributed to government subsidies and asset disposals[27] - The company reported a net cash flow from operating activities of -¥24,701,130.76, a decrease of 137.65% compared to the previous year[56] - The company reported a total of 45.7 million kWh of solar power generation in the reporting period, resulting in a reduction of approximately 359 tons of carbon emissions[110] - The company received cash from borrowings amounting to ¥83,625,884.40 in 2021, compared to ¥229,700,079.07 in 2020[184] Corporate Governance - The company has established a modern corporate governance structure, ensuring compliance with laws and regulations, and effectively protecting the interests of all shareholders, especially minority shareholders[111] - The internal control audit report issued by the accounting firm confirmed the effectiveness of the company's internal control as of December 31, 2021, with a standard unqualified opinion[104] - The company has implemented a comprehensive self-inspection of corporate governance, covering seven aspects, and confirmed compliance without any major violations[104] - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[73] Shareholder Information - The chairman of the board, Xu Shizhong, reduced his shareholding from 82,354,853 to 66,399,353 shares, a decrease of 15,955,500 shares due to personal reasons[75] - The company held three temporary shareholder meetings in 2021, with the first on June 16 and the second on September 14[73] - The annual shareholder meeting for 2020 was held on May 18, 2021, with resolutions published on May 19, 2021[73] - The total number of shares after the repurchase is 20,918.52 million, representing 100% of the total shares[139] - The largest shareholder, Xu Shizhong, holds 66,399,353 shares, accounting for 31.74% of the total shares[146] Environmental Compliance - The company has no production wastewater, only domestic sewage, with a total volume of ≤21,360 and COD ≤8.544, ensuring no exceedance of discharge standards[107] - The company has two emission stacks for air pollutants, with emissions of SO2 ≤0.132, NOx ≤0.617, VOCs ≤1.7031, and particulate matter ≤0.07976, all within regulatory limits[107] - The company has no significant environmental penalties and maintains compliance with environmental regulations[107] Future Outlook - The company plans to enhance its product offerings in the 3C industry and expand into 5G-related fields[66] - The company intends to expand its financing channels through collaboration with financial institutions and capital operations[67] - Future guidance indicates a cautious outlook, with expectations of gradual recovery in user engagement and revenue growth in the next fiscal year[79] - The company is committed to improving its financial health and is implementing cost-control measures to mitigate the impact of declining revenues[79]