鸿远电子(603267) - 2021 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of CNY 2,403,105,889.49 in 2021, representing a 41.36% increase compared to 2020 [23]. - Net profit attributable to shareholders reached CNY 826,736,985.06, a significant growth of 70.09% year-over-year [23]. - The net profit after deducting non-recurring gains and losses was CNY 811,916,354.37, reflecting a 72.50% increase from the previous year [23]. - Cash flow from operating activities surged by 247.82%, amounting to CNY 532,781,780.48 [25]. - The company’s total assets increased by 37.11% to CNY 4,327,435,704.45 at the end of 2021 [23]. - The gross profit margin for the main business increased by 4.69 percentage points to 51.29%, attributed to stable margins in self-produced products and rising margins in agency products [89]. - The company reported a net cash outflow from investing activities of CNY 344,600,271.97, mainly due to payments for investment projects and structured deposits [82]. - The company’s financing activities generated a net inflow of CNY 80,843,237.16, largely due to increased bank loans to support business expansion [82]. Research and Development - R&D expenses rose to CNY 80,640,000, marking a 78.68% increase compared to the previous year [36]. - The total R&D investment for the year was 80.64 million yuan, accounting for 3.36% of total revenue [100]. - During the reporting period, the company obtained 34 new patents and has a total of 116 authorized patents, indicating a strong focus on intellectual property and technological innovation [41]. - The company has established a comprehensive technical R&D system, including a technology R&D center and multiple laboratories, enhancing its core competitiveness [67]. - The company is actively pursuing new product development and technological advancements, focusing on high-performance MLCCs to meet the growing demand in defense and civilian applications [54]. Market Position and Strategy - The company is positioned in a strong market for ceramic capacitors, with MLCCs accounting for approximately 90% of the ceramic capacitor market, driven by demand in various sectors including 5G and automotive electronics [53][54]. - The company has been ranked among the top 100 electronic component enterprises in China for nine consecutive years, achieving its highest ranking in 2021 [57]. - The company is a major manufacturer of high-reliability MLCCs in China, benefiting from a stable competitive landscape and high industry concentration [58]. - The company aims to develop high-reliability multi-layer ceramic capacitors and RF microwave capacitors to meet the demands of rapidly growing sectors like 5G [129]. - The company plans to enhance R&D investment, focusing on high-reliability and civilian high-end products, to expand its product range and improve technological innovation [128]. Corporate Governance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm for the fiscal year 2021 [7]. - The board of directors held 8 meetings during the reporting period, ensuring compliance with legal and regulatory requirements in decision-making processes [147]. - The supervisory board conducted 6 meetings, maintaining oversight of financial conditions and ensuring the legality of management actions [149]. - The company emphasizes compliance and internal control to mitigate risks and promote sustainable development, with ongoing training and awareness programs to prevent fraud [149]. - The company has established a governance structure to enhance operational efficiency and risk management, including the implementation of investment and fundraising management guidelines [146]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 1,315, with 631 in the parent company and 684 in subsidiaries [170]. - The employee composition includes 724 production personnel, 220 sales personnel, 246 technical personnel, 24 financial personnel, and 101 administrative personnel [171]. - The company has a structured approach to talent development, aligning training initiatives with strategic goals [173]. - The company has implemented a robust environmental management system, achieving ISO14001 certification and promoting low-carbon practices among employees [199]. - The company has a total of 10 subsidiaries under its consolidated financial statements, with strict management controls in place for related transactions and investments [184]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 3.90 per 10 shares for the year 2021, pending shareholder approval [8]. - The cash dividend for the 2020 fiscal year was RMB 3.70 per 10 shares, amounting to RMB 85,646,120, which represented 17.62% of the net profit attributable to shareholders [176]. - The company has a policy to distribute at least 15% of the annual distributable profit as cash dividends, provided that the cumulative undistributed profits and current distributable profits are positive [175]. - The company has implemented a stock buyback amounting to RMB 38,254,989.02 in 2021, which is considered as part of the cash dividend distribution [177]. - The company granted 100,000 restricted shares to senior management during the reporting period, with a market price of 179.44 yuan at the end of the period [181]. Environmental Responsibility - The company maintained compliance with environmental regulations, with no incidents of exceeding emission limits reported during the period [190]. - The company has established a comprehensive environmental monitoring mechanism, with regular assessments conducted by qualified third-party agencies [197]. - The company has developed an emergency response plan for environmental incidents, enhancing its capability to manage potential environmental risks [196]. - The company actively promoted green office practices, including paperless operations and waste sorting initiatives, to reduce carbon emissions [200].