JCT(SH:603657)2022-04-11 16:00Financial Performance - In 2021, the company's operating revenue reached ¥1,294,565,058.35, an increase of 51.59% compared to ¥854,002,047.66 in 2020[23]. - The net profit attributable to shareholders was ¥110,433,674.17, a decrease of 22.47% from ¥142,445,444.16 in 2020[23]. - The net profit after deducting non-recurring gains and losses was ¥97,525,089.31, down 26.73% from ¥133,105,660.86 in 2020[23]. - The company's total assets increased by 39.41% to ¥1,724,526,747.28 from ¥1,237,055,630.75 in 2020[23]. - Basic earnings per share decreased by 22.64% to ¥0.82 from ¥1.06 in 2020[24]. - The weighted average return on equity fell to 11.39%, a decrease of 4.21 percentage points from 15.60% in 2020[24]. - The net cash flow from operating activities was ¥78,713,181.69, an increase of 33.88% compared to ¥58,795,801.68 in 2020[23]. - The company reported a quarterly revenue of ¥432,728,613.51 in Q4 2021, contributing to a total annual revenue growth[27]. Market and Industry Insights - The clean appliance market in China is projected to grow significantly, with a compound annual growth rate of 9.77% expected from 2020 to 2024, reaching a market size of over ¥200 billion[38]. - The retail sales of the clean appliance market reached ¥27.8 billion from January to November 2021, a year-on-year growth of 30.7%, with significant growth in categories like floor washing machines and robotic vacuums[39]. - The domestic vacuum cleaner market is showing a clear growth trend due to urbanization, rising income levels, and changing consumer lifestyles[43]. - The demand for vacuum cleaners is expected to continue growing due to urbanization, rising income levels, and changing lifestyles among younger consumers[77]. - The cleaning appliance hose industry is benefiting from the overall growth of the cleaning appliance market, presenting a broad market outlook[76]. Acquisitions and Investments - The company acquired Suzhou Shangteng and Suntone in Vietnam, entering the clean appliance ODM/OEM sector, which is expected to enhance its market position and core competitiveness[32]. - The company expanded its business by acquiring 55% of Suzhou Shangteng and 100% of Vietnam Suntone, enhancing its product offerings in the ODM/OEM market[59]. - The company is investing CNY 15.87 million in a clean electric hose production project in Jinhua, with a completion progress of 94.91%[80]. Research and Development - R&D investment for the year was ¥45,777,800, a 68.41% increase year-on-year, with ¥10,702,300 allocated to Suzhou Shangteng, focusing on new product development in the clean appliance sector[34]. - The company has developed advanced hose products, including a "1:8 large expansion ratio hose" and "four-spiral central vacuum cleaner hose," expanding its product range and applications[44]. - The company has implemented a comprehensive employee training system to enhance knowledge and skills development[118]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[4]. - The company has established a robust internal control system and governance structure, complying with relevant regulations and enhancing operational transparency[89]. - The company has not faced any penalties from securities regulatory agencies in the past three years[108]. - The independent directors fulfilled their responsibilities, ensuring the protection of minority shareholders' rights[122]. Shareholder Information - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares (including tax) to all shareholders based on the total share capital as of the dividend distribution date[5]. - The company held 1 annual and 1 extraordinary shareholders' meeting during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[90]. - The company reported a total of 134,400,000 shares outstanding, with 40,075,000 shares being freely tradable, representing 29.82% of total shares[172]. Risk Management - There are no significant risks affecting the company's normal operations during the reporting period[10]. - The company has implemented a comprehensive risk management system to enhance financial oversight and data analysis[126]. - The company is facing risks from raw material price fluctuations, market competition, and potential substitution by robotic cleaning products[86]. Future Outlook - Future outlook includes a projected revenue growth of 5% for the upcoming fiscal year, driven by new product launches and market expansion initiatives[98]. - The company aims to enhance its market share in the central vacuum cleaner, garment steamer, dishwasher, and outdoor cleaning industrial dust removal systems[83]. - The company is considering strategic acquisitions to bolster its market position and diversify its product offerings[98].