AA Belt(SH:603580)2022-04-12 16:00Financial Performance - The company's operating revenue for 2021 was ¥252,483,297.81, representing a 30.04% increase compared to ¥194,159,732.72 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥34,073,044.29, an increase of 11.48% from ¥30,565,110.49 in 2020[24]. - The net profit after deducting non-recurring gains and losses was ¥31,773,781.74, up 18.75% from ¥26,757,221.02 in 2020[24]. - The net cash flow from operating activities reached ¥28,010,112.04, a significant increase of 44.79% compared to ¥19,345,880.74 in 2020[24]. - Basic earnings per share for 2021 increased by 11.50% to CNY 0.2608 compared to CNY 0.2339 in 2020[25]. - The weighted average return on equity rose to 7.55% in 2021, an increase of 0.45 percentage points from 7.10% in 2020[25]. - The total revenue for the year was 252,483,297.81, representing a year-on-year increase of 42.06%[48]. - The total comprehensive income for 2021 was CNY 21,226,973.05, an increase of 11.8% from CNY 18,974,141.52 in 2020[174]. Assets and Liabilities - Total assets at the end of 2021 were ¥549,775,026.45, reflecting a 10.64% increase from ¥496,888,974.11 at the end of 2020[24]. - The net assets attributable to shareholders increased to ¥461,544,815.18, a growth of 5.15% from ¥438,922,204.73 at the end of 2020[24]. - Total liabilities rose to CNY 69,699,037.75 in 2021, up from CNY 50,228,944.11 in 2020, indicating an increase of approximately 38.7%[163]. - Current liabilities increased to CNY 65,241,633.20 in 2021 from CNY 46,300,620.73 in 2020, a rise of about 40.8%[163]. - The company reported a decrease in cash and cash equivalents to CNY 89,230,309.06 in 2021 from CNY 139,204,618.97 in 2020, a decline of about 36.0%[162]. Market and Competition - The company operates in the rubber and plastic products industry, specifically in the lightweight conveyor belt sector, which is crucial for various automated production processes[33]. - The company faces competition from established multinational firms in the domestic high-end lightweight conveyor belt market, which have significant technological advantages[35]. - The global lightweight conveyor belt market is dominated by major players from developed countries, with the top three companies holding approximately 30% market share[35]. - The company has been actively expanding its market presence both domestically and internationally, with increasing recognition from overseas clients[37]. Research and Development - Research and development expenses rose to 13.06 million RMB, marking a 33.97% increase year-on-year, reflecting the company's commitment to innovation[44]. - The company has developed unique production processes and has multiple patents, enhancing its competitive edge in the lightweight conveyor belt industry[39]. - The company’s R&D efforts are supported by various national policies promoting the development of new materials and technologies in the industry[62]. - The R&D budget has been increased by H%, focusing on developing next-generation products and technologies[98]. Corporate Governance - The company has established a robust corporate governance structure to ensure effective decision-making and protect shareholder interests[90]. - The company held 6 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[91]. - The supervisory board also convened 6 times, effectively overseeing the company's operations and financial status[92]. - The company has established a management system for insider information, ensuring no insider trading occurred during the reporting period[92]. Shareholder Information - The company plans to distribute a cash dividend of ¥1.64 per 10 shares, totaling ¥21,430,400, based on the total share capital of 13,067,320 shares as of December 31, 2021[6]. - The major shareholders are Tu Mulian and Cai Ruimei, holding 44,100,000 shares and 43,365,000 shares respectively, representing 33.75% and 33.19% of total shares[140]. - The company has a total of 5,804 ordinary shareholders as of the end of the reporting period, down from 6,209 at the end of the previous month[137]. Operational Efficiency - The company operates in the rubber and plastic products industry, specifically in the conveyor belt sector, facing significant pressure due to economic uncertainties[61]. - The company employs a dual sales model of direct sales and distribution, focusing on direct customer service in domestic markets[65]. - The company is integrating its supply chain both vertically and horizontally, which helps in maintaining product quality and controlling production costs[40]. - The company plans to implement a refined management model and an integrated ERP system to enhance operational efficiency and cost control[83].