FLYCO(SH:603868)2022-04-27 16:00Financial Performance - In 2021, the company achieved operating revenue of CNY 4,005,257,180.46, representing a year-on-year increase of 12.26%[18]. - The net profit attributable to shareholders was CNY 640,703,688.34, a slight increase of 0.38% compared to the previous year[18]. - The company achieved a production outsourcing ratio of 53.90% in 2021, indicating a significant reliance on external manufacturers for product production[36]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[101]. - The total comprehensive income for 2021 was CNY 718,591,652.20, compared to CNY 557,503,162.84 in 2020, indicating a significant increase[184]. - The company reported a total comprehensive income of RMB 557,503,162.84 for the year, contributing to an increase in undistributed profits to RMB 1,214,832,720.33[193]. Research and Development - The company's R&D investment increased by 78.12% to CNY 131,935,227.88, with 141 new patent applications and 153 patents granted during the year[26]. - The company's R&D expenses rose by 78.12% to CNY 131,935,227.88, attributed to the development of innovative products like the "Starry Sky Shaver" and "Space UFO Shaver"[45][46]. - Research and development investments have increased by 30%, focusing on sustainable technology and product efficiency improvements[101]. - The company emphasizes R&D and brand operation as core competitive advantages, continuously investing in product innovation and marketing strategies[38]. Marketing and Sales - The sales proportion of mid-to-high-end shavers reached 20.32%, with an average selling price of shavers increasing by 25.23% compared to 2020[25]. - The company launched innovative products such as the "Starry Sky Shaver" and "Portable Space UFO Shaver," which received positive market feedback[25]. - The company is leveraging social media platforms for marketing, establishing a presence on platforms like Douyin and Xiaohongshu to enhance consumer engagement and brand visibility[41]. - Direct sales revenue surged by 285.43%, significantly outpacing the decline in revenue from distribution channels[48]. Financial Management - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[3]. - The company’s financial report is confirmed to be true, accurate, and complete by the responsible persons[3]. - The company has established a competitive and incentive-based salary policy, evaluating employee salaries and performance based on actual contributions and responsibilities[117]. - The company has a total of RMB 3.104 billion in bank financial products and structured deposits, with an outstanding balance of RMB 890.5 million[147]. Corporate Governance - The company has established a robust investor relations management system, facilitating communication with domestic and international investors[93]. - The company has not reported any significant differences in governance compared to regulatory requirements[93]. - The company has established specialized committees, including an audit committee and a remuneration and assessment committee, to enhance governance[110]. - The company has not faced any penalties from securities regulatory authorities in the past three years[106]. Risk Management - The company faces risks related to macroeconomic fluctuations, which could impact demand for personal care and home appliances[86]. - The company is addressing the volatility of raw material prices by leveraging brand premium and procurement advantages to mitigate cost impacts[89]. - The company is facing increasing labor costs due to structural imbalances in the labor market, which may pressure production and cost control[91]. - The company is implementing measures such as regional production capacity adjustments and automation to mitigate the impact of rising labor costs[91]. Employee Management - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to RMB 9.0431 million[105]. - Cash paid to employees increased by 30.34% to ¥399,116,051.90, attributed to the expansion of the e-commerce team and management centers[60]. - The company aims for comprehensive training coverage in 2021, focusing on internal and external training to build a skilled and innovative workforce[118]. - The company has enhanced employee welfare and benefits, improving employee satisfaction and sense of belonging[130]. Environmental Responsibility - The company is not classified as a key pollutant discharge unit and complies with national environmental protection laws and regulations[128]. - The company has signed a service agreement for the collection and transportation of industrial solid waste, which has been filed with the local environmental protection bureau[128]. - The company has passed the ISO 14001:2015 environmental management system certification, ensuring no environmental or safety production accidents during operations[131]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[128]. Future Outlook - The company plans to enhance product R&D investment, focusing on high-end upgrades for personal care appliances, including smart and fashionable products[79]. - The company aims to strengthen supply chain management to maintain quality and cost advantages, leveraging centralized procurement capabilities[80]. - The company will deepen channel reforms to improve online and offline market penetration and enhance brand promotion on social media platforms[82]. - The company is focusing on expanding its presence in overseas markets, particularly in the US, Russia, and Southeast Asia, through tailored marketing strategies[84].