Financial Performance - The company's operating revenue for 2021 was ¥975,365,389.63, representing a 32.15% increase compared to ¥738,097,199.48 in 2020[24]. - The net profit attributable to shareholders decreased by 5.08% to ¥92,366,652.22 from ¥97,305,979.41 in the previous year[24]. - The total assets increased by 56.66% to ¥2,109,520,531.34 from ¥1,346,597,344.00 in 2020[26]. - The net assets attributable to shareholders grew by 76.73% to ¥1,273,144,103.57 compared to ¥720,374,708.82 in the previous year[26]. - Basic earnings per share decreased by 8.16% to ¥0.45 from ¥0.49 in 2020[25]. - The weighted average return on equity fell to 11.86%, down from 14.67% in the previous year, a decrease of 2.81 percentage points[25]. - The company's gross profit margin decreased by 2.89% due to rising raw material prices and increased operational costs[35]. - The company reported a total revenue of 1,370.48 million CNY for the year 2021, representing a significant increase compared to the previous year[159]. - The net profit attributable to shareholders was 628.13 million CNY, showing a growth of 43.4% year-over-year[159]. Cash Flow and Investments - The net cash flow from operating activities dropped significantly by 165.03% to -¥88,746,183.95, primarily due to increased payments for raw materials and labor costs[24]. - The company's investment activities resulted in a net cash outflow of -¥428,961,389.42, an increase of 82.04% compared to -¥235,673,491.77 in the previous year[77]. - The company’s R&D expenses increased by 10.29% to ¥30,266,107.81, reflecting its commitment to innovation[77]. - The company plans to use idle raised funds for temporary liquidity support and to purchase financial products[170]. Market and Sales Performance - The company reported a significant increase in sales orders due to rising market demand, contributing to the revenue growth[25]. - The production volume of water pumps reached 5.44 million units, a year-on-year increase of 34.26%[39]. - The company secured a backlog of orders amounting to 500 million yuan, an increase of 18.76% compared to the previous year[39]. - The company’s online sales increased by 125.14%, achieving sales of 9.12 million yuan[39]. - The company achieved a main business revenue of ¥975,365,389.63, representing a year-on-year growth of 32.15%[80]. Corporate Governance - The board of directors and supervisory board confirm the authenticity, accuracy, and completeness of the annual report[3]. - The company has established a comprehensive internal control management system to ensure effective financial reporting and compliance with regulations[152]. - The company’s governance structure includes a board of directors with 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[146]. - The company has taken steps to ensure the independence of its operations from its controlling shareholder, with no instances of non-operational fund occupation reported[145]. Risk Management - The company has outlined potential risks in the report, urging investors to pay attention to investment risks[10]. - The company has implemented measures to mitigate exchange rate risks, including settling transactions in RMB with key clients and engaging in forward foreign exchange contracts[141]. - The company currently benefits from a 13% export tax rebate rate for its water pump products, which could be adversely affected by future policy changes[134]. Research and Development - The company holds 176 domestic patents and 22 foreign patents, showcasing its strong R&D capabilities[69]. - The company is increasing its R&D investment to enhance its innovation capabilities, including the establishment of a national-level CNAS laboratory and research institute[129]. - The company has invested 15 million CNY in R&D for new product development in 2021, focusing on innovative pump technologies[162]. Production and Operations - The company has completed the construction of its smart industrial park, which is expected to alleviate long-standing capacity bottlenecks[38]. - The company has a complete industrial chain, which helps ensure timely supply and product quality[75]. - The company aims to increase its production capacity by 20% in the next fiscal year to meet growing demand[162]. Shareholder Relations and Dividends - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares (including tax) and to increase capital by 4 shares for every 10 shares held, resulting in a total cash dividend of approximately RMB 38.9 million and a capital increase of 103.7 million shares[5]. - The company’s cash dividend policy prioritizes cash distributions, with a minimum of 80% of profits allocated for cash dividends during mature phases without major capital expenditures[186]. - The company plans to distribute cash dividends of no less than 30% of the average annual distributable profits over the three years from 2019 to 2021[187]. Employee Management - The company has a total of 1,108 employees, with 150 in the parent company and 958 in major subsidiaries[180]. - The company has established a training plan to enhance employee skills and management capabilities, with a focus on various operational areas[183]. - The company’s labor contracts comply with relevant laws, providing employees with various insurance benefits and housing funds[182].
君禾股份(603617) - 2021 Q4 - 年度财报