TC(SH:603421)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥2.82 billion, representing a year-over-year increase of 34.24% compared to ¥2.10 billion in 2020[22]. - The net profit attributable to shareholders decreased by 13.49% to approximately ¥156.63 million in 2021 from ¥181.06 million in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 16.06% to approximately ¥141.76 million in 2021[22]. - The net cash flow from operating activities increased significantly by 187.63% to approximately ¥386.05 million in 2021 compared to ¥134.22 million in 2020[22]. - The total assets of the company at the end of 2021 were approximately ¥5.11 billion, reflecting a 16.87% increase from ¥4.38 billion at the end of 2020[22]. - The basic earnings per share decreased by 14.29% to ¥0.24 in 2021 from ¥0.28 in 2020[23]. - The weighted average return on equity decreased to 4.88% in 2021 from 5.85% in 2020, a decline of 0.97 percentage points[23]. - The company achieved total revenue of 2.821 billion yuan in 2021, representing a year-on-year growth of 34.24%[30]. - Net profit for the year was 157 million yuan, a decrease of 13.49% compared to the previous year[30]. Dividends and Capital Management - The company plans to distribute a cash dividend of RMB 0.73 per 10 shares, totaling RMB 47,609,907.30 for the year 2021[6]. - The company does not plan to increase capital reserves or issue bonus shares for the year[6]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has established a long-term mechanism to prevent the controlling shareholder from occupying the company's funds and assets, ensuring independent operations in personnel, assets, finance, and business[183]. Governance and Compliance - The company reported a standard unqualified audit opinion from Ernst & Young Huaming[5]. - The board of directors has confirmed the accuracy and completeness of the annual report[4]. - The company has not faced any violations in decision-making procedures regarding external guarantees[8]. - The company has improved its governance structure and internal control mechanisms to promote sustainable and stable development[189]. - The company strictly adheres to information disclosure regulations, ensuring accurate and timely reporting to shareholders[187]. - The total number of shares held by directors and senior management at the end of the reporting period was 418,997,051, a decrease of 437,500 shares compared to the beginning of the year[193]. Research and Development - The company reported a significant increase in research and development expenses for new products in the distribution network category[23]. - Significant investments were made in R&D, with a focus on developing proprietary chips and innovative technologies, including the TCC081 series chip for low-voltage power line communication[39]. - R&D investment has consistently exceeded 15% of revenue in recent years, with over 200 new R&D personnel added in 2021, representing a growth rate of approximately 20%[42]. - The company has applied for over 400 patents and participated in the formulation of 48 industry standards by the end of 2021, enhancing its technological capabilities[41]. Market and Product Development - The company launched three new product series in 2021, expanding its offerings to 1,200 products across 14 major systems[29]. - The company aims to complete the practical implementation of the IPD process within three years, enhancing product development efficiency[33]. - The company is focusing on IoT development opportunities and has established a strong presence in the market with innovative solutions[59]. - The company is actively developing new products, including a 10kV integrated charging station and medium-low voltage mixed distribution products, to meet the evolving needs of the power distribution network[76]. Strategic Goals and Future Outlook - The company is committed to building a world-class energy internet enterprise by 2025, focusing on enhancing customer service and operational performance[49]. - The company aims to address the challenges of integrating new energy sources into the power grid, emphasizing the need for smart grid and digital transformation[48]. - The company plans to achieve an intelligent factory by 2025, integrating information flow, logistics, and data flow for smart manufacturing[170]. - The company aims for a 30% growth in financial metrics over the next 3-5 years, with a goal to become a leader in the energy measurement sector by 2026[159]. Operational Efficiency and Cost Management - The company has implemented a systematic transformation of its supply chain processes to enhance delivery capabilities while maintaining existing business operations[79]. - The company reported a 5% reduction in operational costs due to improved efficiency measures implemented in Q3 2023[195]. - The company has established a comprehensive quality management system, achieving a quality performance improvement of over 30% compared to 2020[103]. Market Trends and Industry Challenges - The fire safety industry is expected to grow at an annual rate of 15%-20%, supported by increased government investment and public safety awareness[67]. - The market for fire alarm products in the civil construction sector is projected to reach 100 billion RMB, with a long-term market scale of 150-200 billion RMB, potentially increasing to around 500 billion RMB when including smart evacuation systems[152]. - The company faces risks from industry policy changes, particularly regarding photovoltaic integration and electric vehicle promotion, which may challenge low-voltage grid supply capabilities[173]. - The company is addressing raw material shortages and price increases by closely monitoring market trends and maintaining reasonable inventory levels[175].