LIHANG TECHNOLOGY(SH:603261)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 305,100,698.16, representing a 4.12% increase compared to CNY 293,031,489.79 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 69,818,620.85, a slight increase of 0.71% from CNY 69,329,803.17 in 2020[21]. - The net profit after deducting non-recurring gains and losses was CNY 66,467,531.40, showing a decrease of 0.97% compared to CNY 67,120,660.22 in 2020[22]. - The company achieved operating revenue of CNY 305,100,698.16 in 2021, representing a year-on-year growth of 4.12%[31]. - The company reported a basic earnings per share of CNY 1.21, a slight increase of 0.83% compared to the previous year[23]. - The total operating revenue for 2021 reached ¥305,100,698.16, an increase of 4.6% compared to ¥293,031,489.79 in 2020[182]. - The total profit for 2021 was CNY 82,681,767.53, up from CNY 81,888,569.65 in 2020, reflecting a growth of 0.97%[183]. - The total comprehensive income for 2021 was CNY 69,818,620.85, compared to CNY 69,329,803.17 in 2020, showing a slight increase of 0.7%[184]. Cash Flow and Assets - The net cash flow from operating activities decreased by 47.98% to CNY 32,752,277.57 from CNY 62,959,083.21 in 2020[22]. - The total assets at the end of 2021 were CNY 731,052,294.26, reflecting a 26.22% increase from CNY 579,168,502.81 at the end of 2020[22]. - The company's cash and cash equivalents stood at CNY 220.9165 million, up from CNY 179.3062 million, representing a growth of about 23.2% year-over-year[173]. - The net cash flow from operating activities decreased by 47.98% year-on-year, totaling ¥32.75 million, while cash inflows increased by 11.97% to ¥299.81 million[57]. - The company's cash flow from financing activities generated a net inflow of CNY 38,595,763.87, compared to CNY 14,209,275.73 in the previous year, representing a significant increase of approximately 171.5%[193]. Research and Development - The company focused on enhancing its research and development capabilities through collaboration with well-known domestic universities and research institutions[33]. - The total R&D expenditure amounted to ¥14.71 million, representing 4.82% of the total revenue, with no capitalized R&D expenses[55]. - Research and development expenses decreased to CNY 7,664,260.74 in 2021 from CNY 9,866,833.74 in 2020, a reduction of 22.3%[185]. Governance and Compliance - The company has a standard unqualified audit report from the accounting firm Xin Yong Zhong He[4]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring no interference in management decisions[84]. - The company has established a robust investor relations management mechanism, ensuring accurate and complete disclosure of information without misleading statements[85]. - The company has established specialized committees under the board, including the audit committee, nomination committee, compensation and assessment committee, and strategic committee[101]. - The company has not faced any penalties from securities regulatory authorities in the past three years[98]. Market Position and Strategy - The company achieved a significant increase in its market share in the high-end equipment sector, with core technology dependency on external sources significantly reduced[36]. - The company is positioned to benefit from national policies promoting the integration of military and civilian industries, enhancing its growth prospects in the defense sector[35]. - The company is focused on expanding its market presence in civilian products to reduce reliance on military contracts[75]. - The company has plans for market expansion and potential mergers and acquisitions, aiming to enhance its competitive position in the industry[93]. Employee and Talent Management - The company emphasizes talent development through a combination of internal and external training, fostering a positive environment for employee growth[42]. - The company has established a comprehensive employee training system, focusing on management, technology, and health, to enhance employee capabilities[108]. - The company has a strict compensation policy that links salaries to overall company performance and individual assessments, aiming to attract and retain talent[107]. Risks and Challenges - There are no significant risks that could materially affect the company's operations during the reporting period[8]. - The company faces risks related to high customer concentration, primarily serving units under the aviation industry[75]. - The company has established a COVID-19 prevention and control leadership group to mitigate risks associated with the pandemic[75].