GUILIN FUDA (SH:603166)2022-04-07 16:00Financial Performance - The company achieved a consolidated net profit of CNY 208,327,029.50 for the year 2021, while the parent company reported a net profit of CNY 234,652,468.45[4]. - The total distributable profit for the parent company after accounting for legal surplus reserves and previous dividends was CNY 378,711,012.80[4]. - The proposed cash dividend for 2021 is CNY 5.00 per 10 shares, amounting to a total cash dividend of CNY 323,104,325.50[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 from ¥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 company's total assets increased by 8.46% to approximately ¥3.68 billion at the end of 2021 compared to ¥3.39 billion at the end of 2020[23]. - 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%, a decrease of 0.61 percentage points from 9.14% in 2020[24]. Risk Management - The company has no significant risk events reported during the reporting period[9]. - The company has not faced any major risks that could impact its future development[9]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[6]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has received a standard unqualified audit opinion from the accounting firm Rongcheng[10]. Strategic Focus and Development - The company plans to continue its shareholder return strategy as outlined in its three-year plan from 2020 to 2022[4]. - 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 is actively developing its presence in the new energy vehicle sector, achieving significant progress to lay a solid foundation for future growth[32]. - The company has established a comprehensive strategic partnership with SANY Heavy Industry, covering a full range of products including crankshafts and clutches, which is expected to accelerate future business development[34]. - The company has implemented a digital transformation strategy, including the completion of 5G network construction and the introduction of MES and WMS systems to enhance production efficiency and quality[36]. 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 postdoctoral research workstation and deepened cooperation with several universities to enhance its R&D capabilities[61]. - The company is undergoing a business transformation towards intelligent and high-end manufacturing, leading to increased R&D investments[78]. - The company plans to fully launch R&D and production of key components for new energy vehicles, leveraging its unique high-end manufacturing technology[124]. 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 showed recovery in 2021, with total vehicle production reaching 26.08 million units, and new energy vehicles accounting for 13.4% of the market share[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 focusing on high-end crankshaft production, which is increasingly concentrated among larger, technologically advanced firms[94]. - The automotive industry demands high-performance fasteners with strength grades above 9.8, and some require tensile strength greater than 1400 MPa[107]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, complying with the guidelines for independent director systems[132]. - The supervisory board has 3 members, including 1 employee supervisor, ensuring compliance with legal requirements[132]. - The company emphasizes strict adherence to information disclosure regulations, ensuring timely and accurate communication with all shareholders[132]. - The company has established a strategic committee, a compensation and assessment committee, a nomination committee, and an audit committee to enhance governance[132]. Social Responsibility - The company is actively participating in social responsibility initiatives, including contributions to education and rural revitalization efforts[125]. - The company donated 1 million yuan for flood relief efforts in Henan and provided educational support worth 400,000 yuan to local schools[182]. - The company created 226 job opportunities for rural laborers in 2021, contributing over 10 million yuan in wages and benefits[183]. - The company actively participated in rural revitalization by purchasing agricultural products worth 400,000 yuan from local cooperatives[183]. Financial Management - The company has established a clear and structured cash dividend policy, ensuring transparency and adherence to shareholder interests[168]. - The board of directors is responsible for formulating and discussing profit distribution plans, ensuring independent oversight and shareholder engagement[166]. - The company has implemented measures to ensure the independence of its operations from controlling shareholders[133]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[189].