Daimay(SH:603730)2022-04-28 16:00Financial Performance - In 2021, the company's operating revenue reached ¥4,208,711,793.26, an increase of 6.55% compared to ¥3,950,110,005.63 in 2020[19]. - The net profit attributable to shareholders was ¥416,068,688.44, reflecting a growth of 5.83% from ¥393,149,833.99 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥344,822,853.76, which is a significant increase of 54.55% compared to ¥223,116,411.06 in 2020[19]. - The company's cash flow from operating activities showed a decline, with a net amount of ¥74,962,824.56, down 90.20% from ¥764,838,026.92 in 2020[19]. - As of the end of 2021, the net assets attributable to shareholders were ¥3,983,974,785.55, a 2.30% increase from ¥3,894,551,647.38 at the end of 2020[19]. - The total assets decreased by 4.29% to ¥5,250,201,439.08 from ¥5,485,493,387.39 in 2020[19]. - The basic earnings per share for 2021 was ¥0.57, up 5.56% from ¥0.54 in 2020[20]. - The company achieved a total revenue of RMB 420,871.18 million, representing a year-on-year growth of 6.55%[25]. - The net profit attributable to shareholders was RMB 41,606.87 million, an increase of 5.83% compared to the previous year[25]. - The net profit excluding non-recurring gains and losses reached RMB 34,482.29 million, showing a significant growth of 54.55% year-on-year[25]. Shareholder Returns - The company plans to distribute a cash dividend of 5.00 CNY per 10 shares, totaling 362,207,752.50 CNY, based on a share capital of 724,415,505 shares as of December 31, 2021[5]. - The company will also increase its share capital by issuing 3 additional shares for every 10 shares held, resulting in a total increase of 217,324,652 shares, raising the total share capital to 941,740,157 shares[5]. - The company emphasizes a balanced approach to shareholder returns, focusing on both distribution and accumulation of profits[114]. Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report, assuming legal responsibility for its content[3]. - There are no reported instances of non-operational fund occupation by controlling shareholders or related parties[6]. - The company has not violated any decision-making procedures in providing guarantees[6]. - All board members attended the board meeting, ensuring a quorum for decision-making[4]. - The company has implemented strict governance practices in compliance with relevant laws and regulations, ensuring shareholder rights and information symmetry[86]. - The board of directors and supervisory board have adhered to legal requirements, ensuring effective governance and decision-making processes[86]. - The company has not reported any significant internal control deficiencies during the reporting period, indicating effective governance practices[116]. Risk Management - The company has outlined potential risks in its future development strategy, which are detailed in the management discussion and analysis section[6]. - The company emphasizes that forward-looking statements do not constitute a substantive commitment to investors, urging caution regarding investment risks[6]. - The company faces risks from cyclical fluctuations in the automotive industry, which are closely tied to macroeconomic conditions[80]. - Fluctuations in raw material prices significantly impact production costs, with major materials including chemicals, steel, and electronic components[81]. - The company has a concentrated customer base, including major global automakers, which poses risks if demand decreases or customers switch suppliers[82]. - The company adheres to strict quality standards, but faces potential liability risks if product defects lead to recalls[83]. Research and Development - The company has invested significantly in R&D, leading to the successful development of patented technologies such as a new sun visor light switch structure and a 360-degree rotating reading light[39]. - The company's R&D expenses increased by 23.66% to RMB 187.20 million, reflecting a commitment to innovation[48]. - The total number of R&D personnel is 550, representing 6.94% of the total workforce[58]. - The company will increase R&D investment in new technologies and processes in the automotive interior sector to transition from a manufacturing to a technology-driven enterprise[79]. Market and Industry Trends - In 2021, China's automobile production and sales reached 26,082,000 and 26,275,000 units, respectively, with year-on-year growth of 3.4% and 3.8%[27]. - The production and sales of new energy vehicles in China reached 3,545,000 and 3,521,000 units, marking a substantial increase of 159.5% and 157.5% year-on-year, with a market penetration rate of 13.4%[27]. - The automotive parts industry in China is expected to maintain stable demand in 2022, with production and sales performance anticipated to improve compared to 2021[76]. Operational Efficiency - The company has established a strong capability in mold manufacturing, allowing for effective cost control and production efficiency through in-house design and production of key molds[41]. - The company has implemented a standardized product management system to enhance efficiency and reduce costs in design and manufacturing processes[44]. - The company has a flexible pricing strategy based on cost-plus pricing, with a higher gross margin target for established products like sun visors and headrests, while using price advantages for new products to capture target markets[35]. Financial Investments - The company has invested RMB 260 million in broker financial products and RMB 945 million in bank financial products, with balances of RMB 50 million and RMB 160 million respectively[141]. - The company has a total of ¥30,000,000 in a financial product with an annualized return of 4.00%, resulting in an actual gain of ¥1,190,136.99, which has been fully recovered[142]. - The company has a total of ¥70,000,000 in a financial product with a 3.30% annualized return, resulting in an actual gain of ¥566,222.22, fully recovered[143]. Employee and Management Structure - The company reported a total of 7,926 employees, with 920 in the parent company and 7,006 in major subsidiaries[108]. - The workforce includes 6,251 production personnel, 658 technical staff, 525 management, and 109 sales personnel[109]. - The company has established a salary management system that includes basic salary, position salary, performance salary, overtime pay, bonuses, and allowances[110]. Environmental Compliance - The company has implemented comprehensive environmental protection measures, including waste management and pollution control systems, to comply with environmental standards[119]. - The company has achieved compliance with wastewater discharge standards, ensuring that treated wastewater meets the GB8978-1996 level 1 standard before being released into municipal sewage systems[119]. - The company has adopted measures to control air emissions, including mechanical ventilation and high-altitude discharge systems, to meet the GB18483-2001 standards for kitchen exhaust emissions[119].