Xiantong Stock(SH:603239)2022-04-11 16:00Financial Performance - In 2021, the company's operating revenue reached RMB 787,187,466.41, representing a 27.40% increase compared to RMB 617,874,848.16 in 2020[20]. - The net profit attributable to shareholders was RMB 141,831,505.27, which is a 33.10% increase from RMB 106,558,158.71 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was RMB 139,146,160.31, up 31.06% from RMB 106,168,271.62 in 2020[20]. - The basic earnings per share for 2021 was RMB 0.52, reflecting a 33.33% increase from RMB 0.39 in 2020[21]. - The company's total assets increased by 20.16% to RMB 1,408,816,743.32 at the end of 2021, compared to RMB 1,172,446,158.30 at the end of 2020[20]. - The company's net assets attributable to shareholders increased by 4.86% to RMB 1,015,088,195.91 at the end of 2021, compared to RMB 968,008,690.64 at the end of 2020[20]. - The company's gross profit margin remains high due to a self-manufacturing rate of over 90% for tooling and molds, effectively controlling manufacturing costs[44]. - The company reported a significant increase in sales expenses, which rose by 21.38% to 39,018,468.04 RMB[55]. Cash Flow and Investments - The net cash flow from operating activities was negative at RMB -22,196,565.29, a significant decrease from RMB 101,342,168.69 in 2020, marking a 121.90% decline[20]. - Operating cash flow showed significant fluctuations, with a net cash flow from operating activities of -¥180,647,875.50 in Q4[22]. - The cash flow from financing activities was 143,313,547.70 RMB, compared to -135,219,826.14 RMB in the previous year[59]. - The company reported a total investment cash outflow of CNY 238,915,438.45, compared to CNY 54,451,443.52 in 2020[180]. - The cash flow from financing activities resulted in a net inflow of CNY 143,313,547.70, contrasting with a net outflow of CNY 135,219,826.14 in the previous year[180]. Research and Development - Research and development expenses increased by 34.35% to CNY 37.26 million, reflecting a greater investment in R&D projects[48]. - The company significantly improved its R&D capabilities, updating design manuals and acquiring over 200 new production equipment, including advanced testing instruments[33]. - The "Xiantong Talent 500" plan aims to expand the R&D team to 500 members within three years, enhancing talent development and professional training[36]. - The company holds 35 patents related to core technologies, including 7 invention patents and 28 utility model patents, showcasing its strong technical development capabilities[41]. Market Position and Strategy - The company established a new energy vehicle division to expand its market presence and enhance competitiveness[30]. - The company aims to enhance its R&D capabilities and strengthen its market position in the domestic niche industry[30]. - The company has established partnerships with major automotive manufacturers, including FAW-Volkswagen and BYD, enhancing its customer resource advantage[43]. - The company is focusing on cost control and optimizing supply chain management to improve profitability and operational quality[75]. - The company is set to accelerate the pace of domestic substitution by leveraging its cost-performance advantages against foreign competitors[72]. Shareholder and Governance - The company plans to distribute a cash dividend of RMB 5.00 per share, totaling RMB 135,360,000.00, based on a total share capital of 270,720,000 shares[6]. - The total remuneration for the chairman, Li Qifu, was CNY 437,300, while the general manager, Jin Guiyun, received CNY 1,322,500[83]. - The company plans to implement a shareholder return plan for the next three years (2022-2024) during the annual general meeting[81]. - The company has retained its accounting firm for the 2021 fiscal year as part of its governance practices[81]. - The company reported a stable shareholding structure with no significant changes among its senior management[83]. Environmental and Social Responsibility - The company has established a comprehensive environmental management system, including obtaining environmental impact assessments and pollution discharge permits for its production projects[113]. - The company actively engages in social responsibility initiatives, including charitable donations and community support, to enhance its corporate image[114]. - The company has committed to environmental protection and sustainable development, adopting advanced technologies to reduce energy consumption and emissions[113]. - The company has implemented a third-party monitoring system for waste emissions, with all monitored indicators meeting regulatory standards[113]. Operational Challenges - The net cash flow from operating activities decreased to -24,163,566.18 from 105,226,042.96, indicating a significant decline in operational performance[182]. - The company’s retained earnings showed a significant loss of -94,752,000.00, reflecting challenges in profitability during the year[189]. - The company reported a decrease in profit distribution to shareholders amounting to -135,360,000.00, highlighting a challenging financial environment[198]. - The company’s total liabilities increased, leading to a higher debt repayment of 18,364,526.07 compared to 4,629,887.01 in the previous year[183].