WAZAM(SH:603186)2022-03-18 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,619,685,625.18, representing a 58.47% increase compared to CNY 2,284,080,702.23 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 238,221,435.45, a 90.24% increase from CNY 125,220,335.59 in 2020[22]. - The net cash flow from operating activities for 2021 was CNY 275,489,646.76, up 66.86% from CNY 165,105,541.20 in 2020[22]. - The total assets at the end of 2021 were CNY 5,097,521,057.77, a 47.02% increase from CNY 3,467,203,049.55 at the end of 2020[22]. - The basic earnings per share for 2021 was CNY 1.68, an increase of 82.61% compared to CNY 0.92 in 2020[24]. - The weighted average return on equity for 2021 was 15.36%, an increase of 4.51 percentage points from 10.85% in 2020[24]. - The company reported a net profit of CNY 63,350,984.43 in Q1 2021, with total operating revenue of CNY 769,586,422.92 for the same quarter[25]. - Non-recurring gains and losses for 2021 totaled CNY 67,059,375.93, with a significant portion attributed to government subsidies[27]. Dividend and Shareholder Engagement - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares to all shareholders, subject to approval at the annual general meeting[6]. - The company has not proposed any capital reserve conversion to share capital or bonus shares distribution[6]. - The company has established a cash dividend policy that ensures at least 30% of the average distributable profit over three years is distributed in cash[155]. - During the reporting period, the company distributed a total cash dividend of 39,772,687.36 million, at a rate of 2.80 per 10 shares, based on 142,045,312 shares[156]. - The decision-making process for the profit distribution plan was complete and maintained the rights of minority investors[157]. Corporate Governance - The company has established a governance structure comprising a shareholders' meeting, board of directors, supervisory board, and management, ensuring compliance with relevant laws and regulations[122]. - The board of directors consists of 7 members, including 3 independent directors, and has held 11 meetings during the reporting period to ensure prudent decision-making[123]. - The supervisory board, comprising 3 members, has also convened 11 times, fulfilling its responsibilities to oversee the company's major matters and protect shareholder interests[124]. - The company maintains independent operations and has not experienced any instances of major shareholders misappropriating company funds or assets[124]. - The company actively respects and protects the rights of stakeholders, including employees, customers, suppliers, and creditors, fostering positive communication for sustainable development[124]. - The company strictly adheres to information disclosure obligations as per the Securities Law and Shanghai Stock Exchange regulations, ensuring transparency and fairness in its disclosures[125]. - The company held a temporary shareholders' meeting on April 8, 2021, to discuss the use of previously raised funds, reflecting a commitment to shareholder engagement[126]. Research and Development - R&D investment has been increased, with a 68% year-on-year increase in small sample production capacity and a 142% increase in total testing volume, enhancing the company's technical capabilities[40]. - The company emphasizes R&D capabilities as a core driver of growth, establishing a national enterprise technology center and collaborating with universities and research institutions for technology commercialization[50]. - The company focused on developing low-loss high-speed materials, achieving batch delivery to major communication terminal clients[79]. - The company has developed a series of high-frequency electronic materials for 5G applications, covering all frequency bands from 4G to 5G[80]. - Total R&D investment amounted to ¥158,812,923.42, representing 4.39% of operating revenue, with capitalized R&D accounting for 7.83%[76]. - The company employed 374 R&D personnel, making up 17.36% of the total workforce[77]. Market Expansion and Product Development - The company is actively expanding its overseas market presence by establishing subsidiaries in regions like Japan[55]. - The company is focusing on developing new materials and products in response to market demands, particularly in the fields of electronic materials and composite materials[107]. - The company plans to increase production capacity for high-grade copper-clad laminates to 24 million sheets annually at the Zhuhai base, with the first phase of the project expected to meet production targets[112]. - The aluminum-plastic film production capacity is set to expand to 36 million square meters annually, enhancing competitiveness in the industry[112]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[182]. Environmental Compliance - The company has complied with environmental protection laws, ensuring that pollution control facilities are fully operational and regularly maintained[169]. - The company has obtained the necessary environmental impact assessments and permits for construction projects, adhering to relevant regulations[170]. - The company faced administrative penalties totaling 230,000 yuan for environmental violations during 2021, including 100,000 yuan for improper waste storage and 130,000 yuan for exceeding organic waste emissions[174]. - The company has established an emergency response plan for environmental incidents, complying with national guidelines and conducting annual training for employees[172]. - The company has not reported any administrative penalties for environmental issues outside of the key pollutant units[174]. Financial Management and Risks - The company has not faced any non-operating fund occupation or guarantee violations from major shareholders or related parties[189]. - The company has not encountered any risks that would lead to delisting warnings[192]. - The company has not made any performance commitments that would affect goodwill impairment testing[188]. - The company has not reported any significant changes in its financial estimates or accounting policies that would impact its financial statements[190]. - The company reported a total guarantee amount of RMB 1,029,261,166.80, which accounts for 62.03% of the company's net assets[198]. Employee Development and Compensation - The company reported a total of 2,154 employees, with 597 in the parent company and 1,557 in major subsidiaries[149]. - The company conducted over 435 training sessions in 2021, covering 1,743 employees, achieving a training coverage rate of 80.92%, an increase of nearly 5% from the previous year[152]. - The company implemented an annual salary adjustment for on-duty employees based on profitability, market salary changes, and internal salary competitiveness[151]. - The total pre-tax remuneration for all directors, supervisors, and senior management during the reporting period amounted to 8.4642 million yuan[139]. - The remuneration for senior management is determined based on industry salary levels, regional development conditions, and job responsibilities[139].