Baida Precision(SH:603331)2022-04-12 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares, totaling approximately 44,540,133.25 RMB, based on the current total share capital of 178,160,533 shares [5]. - The company has implemented a cash dividend policy, proposing a cash dividend of 2.0 yuan per 10 shares for 2020, totaling 35,631,475.80 yuan [122]. - The company plans to distribute dividends to shareholders over the next three years (2021-2023) as part of its shareholder return strategy [109]. Financial Performance - The company's operating revenue for 2021 was approximately ¥1.22 billion, representing a year-over-year increase of 25.93% compared to ¥967.59 million in 2020 [23]. - Net profit attributable to shareholders of the listed company reached ¥80.97 million, an increase of 11.89% from ¥72.37 million in 2020 [23]. - Basic earnings per share for 2021 were ¥0.52, reflecting a growth of 13.04% compared to ¥0.46 in 2020 [24]. - The weighted average return on equity increased to 10.28%, up from 9.75% in the previous year, marking an increase of 0.53 percentage points [24]. - Total assets at the end of 2021 amounted to approximately ¥2.09 billion, a 10.77% increase from ¥1.89 billion at the end of 2020 [23]. - The net cash flow from operating activities for 2021 was negative at approximately -¥4.76 million, a significant decline from ¥9.34 million in 2020 [23]. - The company achieved operating revenue of 1,218.46 million yuan, a year-on-year increase of 25.93% [31]. - Net profit attributable to shareholders reached 91.83 million yuan, up 12.70% year-on-year [31]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the financial report's authenticity and completeness [4]. - The company has not faced any risks regarding the inability of more than half of the board members to guarantee the authenticity of the annual report [9]. - The company has not reported any major contracts or their execution status during the reporting period [173]. - The company has not encountered any violations regarding guarantees during the reporting period [154]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period [154]. Risk Management - The management has provided a detailed description of potential risks in the "Management Discussion and Analysis" section of the report [10]. - The company emphasizes the importance of investor awareness regarding investment risks associated with forward-looking statements in the report [7]. - The company faces risks from uncertainties in the external economic environment, including local pandemic outbreaks and international political and economic instability, which may affect customer order demand and export products [79]. - Raw material price fluctuations pose a risk to gross margin, with direct materials accounting for over 40% of the main business costs, impacting profitability significantly [79]. - Customer concentration risk exists as the company primarily serves compressor manufacturers and automotive parts suppliers, leading to strong bargaining power from major clients [79]. Market and Product Development - The company plans to continue expanding its market presence and investing in new product development to drive future growth [30]. - The company is recognized as a key supplier in the automotive core components industry, entering the supply chain of major automotive manufacturers [37]. - The company has invested in new materials and lightweight products for electric vehicles, with some products already in mass production [38]. - The company is focusing on new technology research and development to drive future growth [90]. - The company plans to enter the European market by Q3 2024, aiming for a 5% market penetration in the first year [96]. Shareholder and Executive Management - The chairman's shareholding decreased from 15,743,700 to 12,593,700, a reduction of 3,150,000 shares due to an agreement transfer [88]. - The total number of shares held by the general manager decreased from 12,495,000 to 7,773,700, a decrease of 4,721,300 shares due to an agreement transfer [88]. - The total number of shares held by the company’s executives decreased from 48,228,000 to 37,572,700, indicating a significant reduction in executive shareholding [91]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 3.83 million yuan [101]. - The company has a structured remuneration decision-making process based on industry standards and company performance [101]. Environmental Compliance - The company and its subsidiaries complied with environmental regulations, with no exceedances in pollutant discharge limits reported for 2021 [129]. - The company processed approximately 69.5 tons of waste oil and wastewater, with a capacity of 120 tons per year [130]. - The company has established 2 sets of production wastewater treatment facilities, with 1 set being a pre-treatment facility [132]. - The company has a total of 3 sets of bag dust removal facilities for waste gas treatment, ensuring normal operation [132]. - The company is committed to environmental protection and sustainable development, implementing energy-saving measures across all production stages [142]. Strategic Management - The company has established several specialized committees, including the Audit Committee and the Strategic Committee, with specific members assigned [108]. - The strategic committee approved the development of a strategic management system to enhance the effectiveness and timeliness of strategic decision-making [113]. - The company is focused on expanding its market presence and enhancing its strategic management systems [105]. - The company has committed to a comprehensive credit facility application with financial institutions for 2021 [105]. - The company has a plan for the issuance of restricted stock incentives, which was discussed in the ninth meeting of the fourth board [105].