HIRON COLD CHAIN(SH:603187)2022-04-26 16:00Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 3 per 10 shares to all shareholders, pending approval at the shareholders' meeting[6]. - The company has not proposed any stock bonus or capital reserve transfer to increase share capital for the 2021 fiscal year[6]. - The company distributed a cash dividend of RMB 0.6 per share and a stock bonus of 0.4 shares, totaling RMB 103.29 million in cash dividends, which accounted for 38.53% of the net profit attributable to shareholders in 2020[44]. - The company has outlined a three-year shareholder return plan for 2021-2023, indicating a focus on enhancing shareholder value[126]. - The cash dividend policy is designed to protect the legitimate rights and interests of minority investors, with no changes made to the policy during the reporting period[153]. - The cash dividend policy complies with the company's articles of association and provides clear standards and ratios for dividends[154]. - The decision-making procedures and mechanisms for the cash dividend policy are complete and well-defined[154]. - Minority shareholders have had sufficient opportunities to express their opinions and their legitimate rights have been adequately protected[154]. Financial Performance - The company's operating revenue for 2021 was CNY 2.66 billion, representing a year-on-year increase of 40.80%[25]. - The net profit attributable to shareholders of the listed company was CNY 225.15 million, a decrease of 16.02% compared to the previous year[25]. - The net cash flow from operating activities was CNY 55.66 million, down 85.11% year-on-year, primarily due to increased accounts receivable and higher raw material costs[28]. - The basic earnings per share for 2021 was CNY 0.96, a decrease of 21.31% from CNY 1.22 in 2020[26]. - The total assets at the end of 2021 were CNY 3.72 billion, an increase of 15.70% compared to the end of 2020[25]. - The company achieved a net profit of CNY 258 million after excluding non-recurring gains and losses, reflecting a growth of 2.18%[27]. - The weighted average return on equity decreased to 10.41%, down 6.11 percentage points from 16.52% in 2020[26]. - The gross margin for the commercial display cabinet business was 20.62%, down 7.93 percentage points year-on-year, primarily due to rising raw material prices and decreased sales prices for some customer orders[68]. - The operating cost increased by 55.11% year-on-year, reaching approximately 2.11 billion RMB, driven by business volume growth and significant increases in raw material prices[62]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[8]. - The management has outlined various risks and countermeasures in the report, which can be found in the management discussion and analysis section[8]. - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the report[7]. - The company faces risks from raw material price fluctuations, particularly in steel and key components, which could impact operational stability[105]. - The ongoing COVID-19 pandemic continues to affect international demand and shipping costs, potentially impacting export business[107]. - The company faces risks from exchange rate fluctuations, which can negatively affect export revenues if the RMB appreciates[110]. - Rising labor costs are a significant concern, and the company is investing in advanced production equipment to mitigate this impact[112]. - There is a risk of a shortage of high-end technical talent, which is crucial for maintaining the company's competitive edge in R&D[113]. Governance and Compliance - The audit report issued by the accounting firm was a standard unqualified opinion, ensuring the accuracy and completeness of the financial report[5]. - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[4]. - The company has maintained a consistent governance structure with all board members present at the board meeting[4]. - The company has established a robust governance structure and internal control system, ensuring timely and compliant disclosure of periodic reports and protecting investor rights[173]. - The board of directors has been restructured, ensuring compliance with legal requirements and maintaining independence from major shareholders[119]. - The company has established an independent financial department with a separate accounting system and financial management policies, ensuring independent tax compliance[123]. - The company has implemented measures to maintain independence from its controlling shareholder in terms of assets, personnel, and financial management[124]. - The company has committed to maintaining the integrity of its financial reporting and compliance with relevant regulations[179]. Market Expansion and Product Development - The company expanded its market presence significantly, contributing to the increase in revenue despite rising costs[27]. - The company is actively expanding its domestic market share in commercial refrigeration, with rapid growth in various product segments[37]. - The company has established a leading position in the commercial frozen display cabinet sector, with increasing market share and brand recognition over the past decade[49]. - The company has developed a range of commercial intelligent vending machines that meet new retail and consumption concepts, incorporating technologies such as dynamic recognition and RFID chip identification[54]. - The company aims to enhance its market share in the high-end segment of commercial refrigeration display cabinets by leveraging its ability to respond quickly to customized customer needs[95]. - The company is committed to increasing its export revenue share while maintaining a balanced focus on domestic and international markets[97]. - The company plans to issue non-public A-shares to raise funds, with a feasibility analysis report presented during the meeting[126]. - The company is exploring partnerships with logistics firms to enhance distribution efficiency, targeting a 10% reduction in delivery times[130]. Employee Engagement and Incentives - The company implemented a new round of equity incentive plans, which increased share-based payment costs[27]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, promoting sustainable and rapid development[121]. - The company has actively engaged in stock option and restricted stock incentive plans, indicating a focus on aligning employee interests with company performance[138]. - The company has implemented a specialized training plan for newly recruited university graduates to help them understand the company's development and culture[152]. - The total remuneration for all directors, supervisors, and senior management was CNY 8.1895 million[134]. - The company has a differentiated salary policy, with senior management on an annual salary system linked to performance evaluations[150]. Technological Innovation - The company has strengthened technological innovation, focusing on product differentiation and smart upgrades, and has developed a smart cold chain ecosystem[36]. - The company plans to leverage its proprietary smart algorithms and IoT big data platform to enhance product intelligence and service offerings[98]. - The company has allocated 10 million for research and development in 2022, focusing on innovative cold chain technologies[130]. - The company reported a substantial increase in intangible assets, which reached ¥148,810,432.31, up 159.44% from ¥57,358,902.60, due to the acquisition of land use rights[82]. Social Responsibility and Environmental Commitment - The company has actively participated in social responsibility initiatives, including targeted assistance for 62 underprivileged employees, distributing a total of RMB 62,000 in relief funds and RMB 16,000 in material aid[175]. - The company signed a cooperation framework agreement for a distributed solar photovoltaic power generation project, aiming to reduce carbon emissions through increased use of green energy[169]. - The company has committed to environmental protection by implementing measures to prevent pollution and ensuring compliance with environmental standards during production processes[168]. - The company has made donations totaling RMB 160,000 to support poverty alleviation and rural revitalization efforts in Gansu Province[175].