Flying Technology(SH:603488)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was CNY 485.25 million, representing a 19.22% increase from CNY 407.03 million in 2020[20]. - The net profit attributable to shareholders decreased by 30.62% to CNY 72.04 million in 2021 from CNY 103.84 million in 2020[20]. - The basic earnings per share for 2021 was CNY 0.25, down 30.56% from CNY 0.36 in 2020[21]. - The weighted average return on equity decreased by 3.82 percentage points to 7.59% in 2021 from 11.41% in 2020[21]. - The net cash flow from operating activities for 2021 was CNY 55.54 million, a 5.65% increase from CNY 52.57 million in 2020[20]. - The total assets at the end of 2021 were CNY 1,163.90 million, a 6.93% increase from CNY 1,088.46 million at the end of 2020[20]. - The net assets attributable to shareholders increased by 4.99% to CNY 980.04 million at the end of 2021 from CNY 933.50 million at the end of 2020[20]. - Non-recurring gains and losses totaled CNY 9.88 million in 2021, significantly lower than CNY 26.91 million in 2020[25]. - The company reported a quarterly revenue of CNY 141.11 million in Q4 2021, showing a consistent revenue generation throughout the year[23]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 2.00 CNY per 10 shares, totaling 58,398,088 CNY (including tax) based on a total share capital of 291,990,440 shares as of December 31, 2021[5]. - The total number of shares held by the board members decreased from 62,142,660 at the beginning of the year to 55,194,920 at the end of the year, representing a reduction of approximately 11.2%[96]. - The total pre-tax remuneration for the board members during the reporting period amounted to 3,794,800 CNY[96]. - The company has a total of 12,755 common stock shareholders at the end of the reporting period, an increase from 10,960 at the end of the previous month[161]. - The largest shareholder, Jin Peirong, holds 38,718,400 shares, representing 13.26% of total shares, with 19,289,620 shares pledged[163]. Governance and Compliance - The company has received a standard unqualified audit report from the accounting firm Tianye[4]. - The company has maintained a consistent governance structure with all board members present at the meeting[4]. - The company has not reported any instances of more than half of the directors being unable to guarantee the authenticity and completeness of the annual report[7]. - The company emphasizes compliance with capital market regulations and timely information disclosure[78]. - The company has committed to maintaining independence in assets, personnel, finance, and operations as stated in the "Equity Change Report"[93]. Research and Development - The company invested in R&D, resulting in the market promotion of the "Low Voltage Permanent Magnet Door System" and the completion of the "Embedded Permanent Magnet Controller" for villa elevators[32]. - The company applied for 7 patents in 2021, including 3 invention patents, and successfully passed the high-tech enterprise re-evaluation[33]. - R&D expenses increased by 22.51% to ¥18,330,543.63, indicating a commitment to innovation[55]. - The company has developed a "IoT-based elevator remote monitoring platform," which won a silver award at the 5th China International IoT Expo[48]. - The company aims to improve production efficiency and reduce costs by increasing automation and optimizing the supply chain, ensuring stable supply and competitive pricing[81]. Market and Sales Strategy - The company established 9 marketing service outlets across key markets, enhancing its sales network and customer support capabilities[45]. - The company’s products are primarily used in the elevator manufacturing industry, which is expected to see stable growth due to ongoing urbanization and industrialization in China[35]. - The company’s sales strategy emphasizes technical strength and service quality, maintaining long-term relationships with elevator manufacturers[45]. - The company is actively developing new energy battery swap projects, focusing on various innovative products to meet market demands[32]. Risks and Challenges - The company is exposed to risks from macroeconomic fluctuations affecting market demand, intensified market competition, and raw material price volatility, which could impact operational performance[84][86][87]. - The company emphasizes the importance of investment risk awareness regarding future plans and development strategies[6]. - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[7]. Internal Control and Audit - The internal control audit report issued by the accounting firm confirmed that the company maintained effective financial reporting internal controls as of December 31, 2021[126]. - The company has a robust internal control management system that meets the requirements of regulatory authorities, ensuring the protection of shareholder interests[124]. - The audit procedures included verifying sales contracts and ensuring compliance with accounting policies for revenue recognition[178]. - The audit firm confirmed independence and compliance with ethical requirements throughout the audit process[185]. Future Outlook - The company has outlined its future outlook and performance guidance in the annual report, emphasizing stability and growth potential[97]. - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming for $1.875 billion[100]. - The company plans to enhance its sales management and digital transformation initiatives, including a digital quotation system[78][79].