LIBA(SH:603519)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥1.59 billion, representing a 22.16% increase compared to ¥1.30 billion in 2020[23]. - The net profit attributable to shareholders for 2021 was approximately ¥109.85 million, a 14.85% increase from ¥95.64 million in 2020[23]. - The net profit after deducting non-recurring gains and losses was approximately ¥108.89 million, reflecting a 16.16% increase from ¥93.74 million in 2020[23]. - The basic earnings per share for 2021 was ¥0.412, up 14.76% from ¥0.359 in 2020[24]. - The total assets as of the end of 2021 were approximately ¥1.29 billion, a decrease of 9.48% from ¥1.43 billion at the end of 2020[23]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥826.27 million, an increase of 8.60% from ¥760.81 million at the end of 2020[23]. - The cash dividend proposed is ¥4 per 10 shares, based on a total share capital of 266,327,839 shares as of December 31, 2021[6]. - The company reported a net cash flow from operating activities of approximately ¥67.63 million, a decrease of 45.78% from ¥124.73 million in 2020[23]. - The weighted average return on equity for 2021 was 13.91%, an increase of 1.00 percentage points from 12.91% in 2020[24]. Industry Overview - The company is positioned in the appliance manufacturing industry, specifically in the household appliance composite materials sector, which is experiencing steady growth due to rising consumer demand[33]. - The household appliance industry in China has become the largest in the world, supported by a comprehensive supply chain and increasing domestic consumption[33]. - The appliance industry is closely linked to real estate sales and macroeconomic conditions, indicating a cyclical nature in demand[34]. - The company aims to leverage new consumption trends, including green and smart consumption, to drive future growth[37]. - In 2021, the home appliance industry in China achieved a total revenue of 1.73 trillion yuan, representing a year-on-year growth of 15.5%[39]. - The profit for the home appliance industry was 121.8 billion yuan, with a year-on-year increase of only 4.5%, indicating pressure from raw material costs and logistics[39]. - The export value of China's home appliance products reached 116.75 billion USD in 2021, a year-on-year increase of 26.4%[39]. Product Development and Innovation - The company developed 95 new PCM products and 37 new VCM products during the reporting period[48]. - The company holds 8 invention patents and 19 utility model patents, demonstrating its commitment to innovation[48]. - The company’s PCM product sales grew by 20.49%, while VCM product sales increased by 20.41%[52]. Financial Management and Investments - The total external investment amount for the year was ¥46,648,000, a decrease of 22.25% compared to ¥60,000,000 in the previous year[72]. - The company invested ¥30,000,000 in Anhui Fulede Semiconductor Materials Co., Ltd., holding 2.48% of its equity[73]. - The company’s investment in Shanghai Zhanchip Electronics Technology Co., Ltd. amounted to ¥6,000,000, representing a 6.45% equity stake[73]. - The company’s investment in Guangdong Zesheng Equity Investment Partnership was ¥15,000,000, with a 0.88% equity stake in Silicon Valley Analog (Suzhou) Semiconductor Co., Ltd.[74]. - The company’s investment in Jiaxing Junli Investment Partnership totaled ¥9,108,000, with a 64.05% equity stake[76]. - The company’s investment in Jiaxing Junfeng Investment Partnership was ¥13,230,000, with a 98.26% equity stake[76]. Strategic Outlook - The company expects a revenue of 1,666.12 million yuan in 2022, representing a 5% increase from 2021, and a net profit of 115.34 million yuan, also a 5% increase[87]. - The company aims to strengthen its core technology in household appliance composite materials and expand its market share while maintaining stable costs and expenses[85]. - The company plans to enhance its talent development and market channel construction to support its growth strategy[86]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB allocated for potential deals[106]. Governance and Compliance - The company held 1 annual and 3 temporary shareholder meetings during the reporting period, ensuring compliance with relevant regulations and facilitating investor participation through online voting[93]. - The board of directors convened 10 meetings, maintaining compliance with legal and regulatory requirements, and includes three independent directors, enhancing governance quality[94]. - The supervisory board held 8 meetings, actively overseeing financial matters and the performance of directors and senior management, ensuring accountability[96]. - The company has established a performance evaluation and incentive system linking management compensation to company performance, promoting transparency in senior management appointments[96]. - The company has implemented a comprehensive information disclosure management system, ensuring timely and accurate reporting to stakeholders, with no significant regulatory penalties for disclosure violations[96]. Environmental and Social Responsibility - The company upgraded its VOCs waste gas treatment system, improving energy utilization and reducing carbon emissions[137]. - The company has completed environmental impact assessments and obtained necessary environmental management certifications[138]. - The company has implemented a dynamic monitoring system for environmental monitoring, ensuring real-time compliance with regulations[141]. - The company has maintained stable pollutant emissions within regulatory limits, demonstrating effective pollution control measures[137]. - The company has committed to fulfilling all public commitments made during its initial public offering and will accept social supervision[147]. Risk Management - The company faces risks related to fluctuations in the home appliance industry and raw material prices, particularly steel, which constitutes over 70% of its material costs[88]. - The company has developed a comprehensive risk management system to enhance internal control effectiveness[130]. - The company has a robust plan for environmental emergency response, focusing on safety management to prevent secondary environmental incidents[140]. Shareholder Relations - The company has a total of 266,327,839 shares after a capital increase of 44,387,973 shares, resulting from a cash dividend of 0.2 RMB per share and a capital reserve conversion of 0.2 shares per share[173]. - The annual cash dividend distributed amounted to 44,387,973.20 RMB, with a total capital increase of 44,387,973 shares[173]. - The company reported a decrease of 20% in both earnings per share and net asset value per share following the capital increase and dividend distribution[174]. - The top ten shareholders include Lu Fengxian with 69,039,049 shares (25.92%) and Yancheng Dongfang Investment Development Group Co., Ltd. with 58,813,319 shares (22.08%)[177].