Quectel(SH:603236)2022-04-15 16:00Financial Performance - The company's operating revenue for 2021 was CNY 11,261,921,747.51, representing an increase of 84.45% compared to CNY 6,105,779,381.15 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 358,060,203.50, up 89.43% from CNY 189,015,964.80 in 2020[25]. - The net cash flow from operating activities for 2021 was a negative CNY 488,101,815.91, compared to a negative CNY 398,540,204.22 in 2020[25]. - The total assets at the end of 2021 increased to CNY 8,140,021,182.48, a growth of 76.91% from CNY 4,601,246,090.65 at the end of 2020[25]. - The basic earnings per share for 2021 was CNY 2.49, an increase of 83.09% compared to CNY 1.36 in 2020[28]. - The weighted average return on equity for 2021 was 12.72%, an increase of 2.15 percentage points from 10.57% in 2020[28]. - The company achieved ASPICE CL2 international certification, indicating its software development capabilities in the intelligent connected vehicle sector have reached an advanced international level[47]. - The company reported a total pre-tax remuneration of 120.96 million yuan for the chairman during the reporting period[140]. - The total revenue for the reporting period reached 26,946.06 million, with a year-on-year increase of 35,033.88 million, representing a growth of approximately 30%[144]. - The company reported a total of 8,087.82 million in net profit, reflecting a significant increase compared to the previous period[144]. International Expansion - The company experienced significant growth in international sales, driven by the expansion of its LTE, LPWA, and 5G module businesses[27]. - The company plans to continue its international expansion strategy, leveraging its product development and supply chain capabilities[27]. - The overseas revenue for 2021 was 4.970 billion RMB, which marked a significant increase of 113.27% year-on-year[40]. - The company reported a significant increase in overseas sales, with international strategy progressing steadily[87]. - The gross margin for overseas sales is higher than domestic sales due to higher pricing in international markets[96]. Research and Development - The company's R&D investment for 2021 amounted to 1.022 billion RMB, accounting for 9.08% of total revenue, with a year-on-year increase of 44.62%[41]. - The company established a new R&D center in Guilin in 2021, enhancing its overall technical research and product innovation capabilities[41]. - The company launched several new 5G modules in 2021, including the Sub-6GHz module Rx520F series and the mmWave module RM530N, which support advanced industry applications[42]. - The company has developed over 300 antenna products, establishing long-term strategic partnerships with high-end market clients[53]. - The company aims to increase its R&D budget by 20% in the next fiscal year to support innovation initiatives[145]. Corporate Governance - The company reported a standard unqualified audit opinion from the accounting firm, ensuring the accuracy and completeness of the financial report[5]. - The company has confirmed that all board members attended the board meeting, indicating strong governance practices[5]. - The company has established a strict procurement process to ensure efficient and orderly procurement operations[81]. - The company has established a complete internal control system and governance structure, ensuring compliance with relevant laws and regulations[133]. - The board of directors has established four specialized committees to enhance decision-making efficiency and professionalism[133]. Shareholder Relations - The company plans to distribute a cash dividend of RMB 7.40 per 10 shares (including tax) and to increase capital by 3 shares for every 10 shares held, pending shareholder approval[6]. - The company has effectively managed investor relations, ensuring timely and accurate information disclosure to shareholders[133]. - The company emphasizes cash dividends, with a policy to distribute no less than 10% of the annual distributable profit in cash[170]. - The company will notify the market within two days if any shares held by directors are pledged post-listing[195]. - The company commits to extend the lock-up period by six months if the stock price falls below the issue price for twenty consecutive trading days within six months post-listing[194]. Social Responsibility and Environmental Commitment - The company has committed to reducing carbon emissions through various internal control measures and continuous evaluation of its environmental impact[183]. - The company has implemented a comprehensive energy management system at its manufacturing centers, ensuring compliance with environmental regulations and effective pollution control measures[182]. - The company donated 73 computers and 750 sets of student desks and chairs to three schools in Anhui Province as part of its educational support initiatives[186]. - The company provided care packages to 112 individuals in four disability institutions during the Spring Festival, demonstrating its commitment to social responsibility[186]. - The company has implemented dynamic management controls over its subsidiaries to ensure effective governance and risk management[177]. Market Outlook and Strategy - The company aims to enhance its technology innovation capabilities and product quality while expanding cooperation with operators and core chip suppliers[126]. - Future plans include accelerating the industrialization of 5G modules and exploring new businesses such as antennas, cloud services, and smart city solutions[127]. - The management indicated a positive outlook for the upcoming fiscal year, projecting continued growth in user data and market share[145]. - The company is focusing on technological advancements and new software solutions to improve operational efficiency[146]. - There are ongoing discussions regarding potential mergers and acquisitions to strengthen the company's market position[145].