GUILIN FUDA (SH:603166)2022-03-29 16:00Financial Performance - The company achieved a consolidated net profit of CNY 208,327,029.50 for the year 2021[4]. - The parent company reported a net profit of CNY 234,652,468.45, with a statutory surplus reserve of CNY 23,465,246.85 deducted[4]. - The total distributable profit for the parent company was CNY 378,711,012.80 after accounting for previous dividends of CNY 118,403,742.00[4]. - A cash dividend of CNY 5.00 per 10 shares (including tax) will be distributed, totaling CNY 323,104,325.50[4]. - The company does not plan to increase capital reserves or distribute stock dividends for the year[4]. - The company's operating revenue for 2021 was approximately ¥1.81 billion, representing a 2.50% increase compared to ¥1.77 billion in 2020[23]. - Net profit attributable to shareholders increased by 3.86% to approximately ¥208.33 million in 2021 from ¥200.58 million in 2020[23]. - The net profit after deducting non-recurring gains and losses rose by 26.73% to approximately ¥189.46 million in 2021, compared to ¥149.51 million in 2020[24]. - The net cash flow from operating activities increased by 18.60% to approximately ¥322.73 million in 2021 from ¥272.11 million in 2020[23]. - The total assets of the company at the end of 2021 were approximately ¥3.68 billion, an increase of 8.46% from ¥3.39 billion at the end of 2020[23]. - The basic earnings per share remained stable at ¥0.34 in 2021, unchanged from 2020[24]. - The company reported a weighted average return on equity of 8.53% in 2021, a decrease of 0.61 percentage points from 9.14% in 2020[24]. Risk Management - There are no significant risk events reported during the reporting period[9]. - The company has not faced any non-operational fund occupation by controlling shareholders or related parties[6]. - The company has not faced any risks of delisting or bankruptcy reorganization[188]. - The company faced a lawsuit involving the State Grid Hubei Electric Power Company, with the claimed amount of 29,814,700 RMB, which was not deemed significant to the company's net profit[190]. - The court ruled in favor of the company on May 6, 2021, dismissing the original plaintiff's claims, which included a total amount of 29,814,700 RMB plus penalties[190]. Research and Development - The company invested 101.73 million yuan in R&D in 2021, representing a 13.84% increase compared to the previous year, and was awarded multiple industry honors[39]. - The company has established a post-doctoral research workstation and collaborated with several universities to enhance its R&D capabilities[61]. - The company has 356 R&D personnel, accounting for 13.60% of the total workforce[77]. - Research and development expenses increased by 13.84% to CNY 101.73 million, reflecting a focus on innovation[67]. - The company is focusing on new product development and technological advancements to enhance its competitive edge in the market[138]. Market and Industry Trends - The automotive industry showed resilience with a production and sales increase of 3.4% and 3.8% respectively in 2021, ending a three-year decline[32]. - The domestic automotive market saw a total production of 26.08 million vehicles in 2021, with new energy vehicles accounting for over 3.5 million units, representing a market share of 13.4%[41]. - In 2021, the production and sales of new energy vehicles reached 3.545 million and 3.521 million units, respectively, representing a year-on-year growth of 160% and a market share of 13.4%, up 8 percentage points from the previous year[44]. - The company is actively developing in the new energy vehicle sector, achieving significant progress to lay a solid foundation for future growth[32]. - The company is focusing on high-end crankshaft production, as the market is increasingly concentrated among larger, technologically advanced firms[94]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, complying with the guidelines for independent director systems[130]. - The supervisory board has 3 members, including 1 employee supervisor, ensuring compliance with legal requirements[130]. - The company adheres to strict information disclosure regulations, ensuring accurate and timely communication with all shareholders[130]. - The company has established various specialized committees, including a strategy committee and an audit committee, to ensure effective governance[130]. - The company has implemented measures to maintain independence from its controlling shareholders[131]. Social Responsibility and Community Engagement - The company is committed to social responsibility, planning to invest in educational support and rural revitalization initiatives in 2022[123]. - The company donated 1 million yuan for flood relief efforts in Henan, demonstrating its commitment to social responsibility and community support[179]. - The company provided over 226 job opportunities for rural laborers, contributing more than 10 million yuan in wages and benefits[181]. - The company has actively engaged in risk supervision, with no dissenting opinions reported by the supervisory board during the reporting period[158]. - The company is committed to reducing carbon emissions through various initiatives, including optimizing transportation methods and implementing green logistics[178]. Strategic Initiatives - The company has established a comprehensive digital application strategy, including the implementation of a warehouse logistics management system to enhance operational efficiency[120]. - The company plans to enhance production efficiency and reduce manufacturing costs to remain competitive in the crankshaft market[94]. - The company aims to recruit graduates from "985" and "211" universities, focusing on digital application and management professionals to enhance its talent pool[122]. - The company is focusing on digital management, efficient operations, and high-quality development while expanding into new markets and enhancing R&D efforts[32]. - The company plans to optimize its gear product structure, focusing on high-value and high-technology products for military and export vehicles[119].