三星新材(603578) - 2021 Q4 - 年度财报

Dividend and Share Capital - The company plans to distribute a cash dividend of 2.2 CNY per 10 shares, totaling approximately 30.27 million CNY, which represents 30.73% of the net profit attributable to shareholders for 2021[5]. - The total cash dividend, including share repurchase amounts, is projected to be 46.04 million CNY, accounting for 46.74% of the net profit attributable to shareholders[5]. - The company intends to increase its total share capital by 3 shares for every 10 shares held, resulting in an estimated total share capital of 178.88 million shares post-distribution[6]. - A total of 865,000 shares were repurchased at a cost of 15.77 million yuan to support the company's long-term development and employee incentive mechanisms[41]. - The company plans to distribute cash dividends of no less than 20% of the distributable profit for each year from 2021 to 2023, contingent on achieving positive net profit[126][127]. - The company has established a cash dividend policy with a minimum distribution ratio of 40% for significant capital expenditure arrangements during its growth phase[128]. - For 2021, the company plans to distribute a cash dividend of 2.2 CNY per 10 shares and a capital reserve increase of 3 shares per 10 shares, pending shareholder approval[129]. Financial Performance - The company's operating revenue for 2021 was CNY 825,917,296.75, representing a 43.52% increase compared to CNY 575,481,354.97 in 2020[25]. - The net profit attributable to shareholders of the listed company for 2021 was CNY 98,498,103.23, an 18.15% increase from CNY 83,368,873.17 in 2020[25]. - The net cash flow from operating activities decreased by 48.29% to CNY 16,605,944.12 in 2021 from CNY 32,111,627.67 in 2020[25]. - The total assets at the end of 2021 were CNY 1,259,615,038.99, an 8.08% increase from CNY 1,165,464,622.90 at the end of 2020[25]. - The basic earnings per share for 2021 was CNY 0.77, a decrease of 17.20% compared to CNY 0.93 in 2020[26]. - The weighted average return on equity for 2021 was 12.56%, an increase of 0.59 percentage points from 11.97% in 2020[27]. - The company reported a net profit of CNY 24,690,515.60 in Q1 2021, with total operating revenue of CNY 202,889,093.78 for the same quarter[29]. - The net profit attributable to shareholders for Q4 2021 was CNY 13,796,449.72, with an operating revenue of CNY 218,319,036.20[29]. - The company recognized government subsidies amounting to CNY 3,544,749.95 in 2021, which are closely related to its normal business operations[32]. - The company reported a significant loss of 767.33 million in its subsidiary Qingdao Weisheng Electronic Plastic Co., Ltd., indicating challenges in that segment[84]. Shareholder and Governance - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - The company has not violated any decision-making procedures regarding external guarantees[8]. - The company is committed to improving corporate governance by adhering to relevant laws and regulations, ensuring transparency and fairness in shareholder meetings[97]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[98]. - The company has held multiple shareholder meetings in 2021, with all proposed resolutions being approved, indicating strong shareholder support[100]. - The company is focusing on strategic measures to maintain independence from its controlling shareholder, ensuring operational autonomy[99]. - The company has a robust mechanism for profit distribution, ensuring that any funds misappropriated by shareholders are deducted from their dividends[128]. - The company emphasizes the protection of minority shareholders' rights and provides opportunities for them to express their opinions[130]. - The company has not faced any penalties from securities regulatory authorities in the past three years, ensuring compliance and governance[111]. Research and Development - The company is focusing on product R&D to enhance product value, particularly in energy-saving and multifunctional glass door designs[39]. - The company expanded its patent portfolio to a total of 44 patents, including 17 invention patents and 27 utility model patents by December 31, 2021[39]. - Research and development expenses increased by 57.81% to 26,354,182.37 RMB, indicating a strong focus on innovation[53]. - The company is actively involved in the research and development of new technologies, including low-radiation coated glass and JC-152 hollow glass doors[103]. Market and Industry Trends - The company is addressing the growing market demand driven by the booming beverage industry, with significant orders from major beverage companies[43]. - The low-temperature storage equipment industry is experiencing a rapid growth phase, driven by urbanization and rising consumer demands for energy-saving and intelligent refrigeration products[87]. - The company is focusing on expanding its product application scenarios, particularly in new retail cabinets, supermarkets, biomedicine refrigeration, and high-end refrigerators[90]. - The industry is witnessing an increase in concentration, favoring companies with independent technology and strong R&D capabilities, which positions the company favorably for future growth[86]. Risk Management - The company has outlined potential risks in its future plans and development strategies, advising investors to be cautious[8]. - The company recognizes the risk of fluctuations in the refrigeration and home appliance industry, which could impact its sales and overall performance[92]. - The company faces a high customer concentration risk, with major clients contributing significantly to revenue, which could adversely affect performance if any key client experiences operational difficulties[93]. - The company is implementing measures to reduce raw material price fluctuation risks, including refining production management and establishing long-term supplier relationships[94]. Employee and Social Responsibility - The company has maintained a strong commitment to social responsibility, focusing on integrity, innovation, cooperation, and win-win development[140]. - The company has provided a safe working environment and paid social insurance for employees, ensuring their rights and benefits[140]. - The company has established a training system to enhance employee competency, combining internal and external training[124]. - The company has established a multi-level incentive mechanism to enhance employee performance and optimize the compensation system[140]. Financial Management and Audit - The company’s internal control system was continuously improved to enhance decision-making efficiency and ensure compliance with legal regulations[134]. - The company’s internal control audit report for 2021 received a standard unqualified opinion, indicating effective internal control measures[136]. - The internal control audit fee was set at 21.2 million RMB, indicating a focus on maintaining compliance and governance standards[152]. - The company has engaged Tianjian Accounting Firm for its auditing needs, which has been in place for 11 years, ensuring experienced oversight[152]. Convertible Bonds - The company issued convertible bonds totaling RMB 191,565,000, with a face value of RMB 100 per bond, amounting to 1,915,650 bonds[192]. - The convertible bonds have a maturity period of six years, from May 31, 2019, to May 30, 2025, with an initial conversion price set at RMB 19.75 per share[194]. - The total amount converted from the bonds was RMB 146,995,000, resulting in 10,681,787 shares converted, which represents 14.37% of the total shares before conversion[196]. - The company triggered the conditional redemption clause for the convertible bonds, which will be redeemed early on December 31, 2021, due to the stock price exceeding 130% of the conversion price for 15 trading days[200].