Yongjin Technology (SH:603995)2022-04-11 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,136,596.65 million, representing a year-on-year increase of 53.43%[24]. - The net profit attributable to shareholders was CNY 59,109.24 million, up 42.62% compared to the previous year[24]. - The total assets increased by 59.00% year-on-year, reaching CNY 986,814.37 million[24]. - Basic earnings per share rose to CNY 2.55, a 41.67% increase from the previous year[25]. - The net cash flow from operating activities was CNY 82,591.46 million, a year-on-year increase of 8.35%[24]. - The company achieved a revenue of CNY 31.37 billion in 2021, representing a year-on-year growth of 53.43%[71]. - The net profit attributable to shareholders reached CNY 591 million, an increase of 42.62% compared to the previous year[71]. - Total assets amounted to CNY 9.87 billion, reflecting a growth of 59.00% year-on-year[71]. Dividend and Capital Increase - The company plans to distribute a cash dividend of 8 CNY per 10 shares (including tax) and to increase capital by converting 4.5 shares for every 10 shares held, totaling a cash dividend of 186,496,320 CNY and a capital increase of 104,904,180 shares[6]. - The total share capital as of April 11, 2022, is 233,120,400 shares, which will be used as the basis for the dividend distribution[200]. - The profit distribution plan aligns with the company's long-term interests and does not harm the interests of investors[200]. - The profit distribution and capital reserve increase plan has been approved by the company's fifth board of directors and is pending approval from the 2021 annual general meeting[200]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The company has established a robust governance structure, ensuring compliance with legal regulations and protecting shareholder rights[141]. - The company has not faced any penalties from securities regulatory authorities in the past three years[172]. Risk Management - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors, highlighting investment risks[7]. - The company has disclosed potential risks in the management discussion and analysis section of the report[8]. - The company acknowledges potential risks in market expansion and project implementation, which could affect future profitability[138]. - The company faces risks related to market price fluctuations, particularly in raw materials, which significantly impact operational costs[133]. Research and Development - The company invested CNY 554.65 million in R&D, which is a 154.72% increase from the previous year[73]. - The company has developed 32 sets of 1350mm reversible precision cold rolling mills, significantly reducing procurement and maintenance costs[67]. - The company has 201 R&D personnel, accounting for 7.76% of the total workforce[98]. - The company has been recognized as a national high-tech enterprise and has received multiple awards for its technological advancements[62]. Production and Sales - The production volume for 2021 was 2,134,100 tons, reflecting a year-on-year growth of 28.08%[35]. - The sales volume for the company's products reached 2,096,600 tons, an increase of 26.59% year-on-year[35]. - The company’s precision cold-rolled stainless steel ultra-thin strips have been recognized as a national torch program project[62]. - The company has an annual production capacity exceeding 2 million tons of cold-rolled stainless steel products[54]. Strategic Initiatives - The company plans to complete the "annual production capacity of 250,000 tons of precision stainless steel strip project" in Vietnam by March 2022, overcoming challenges posed by the pandemic[46]. - The company aims to enhance its core competitiveness and team cohesion through continuous improvement of corporate culture and employee skills[42]. - The company is actively pursuing mergers and acquisitions to enhance its competitive position in the market[160]. - The company plans to expand its market presence and is focusing on new product development and technological advancements[160]. Employee and Management - The total number of employees in the parent company is 691, while the total number of employees in major subsidiaries is 1,899, resulting in a combined total of 2,590 employees[194]. - The company’s compensation policy emphasizes alignment of employee income with corporate performance, efficiency, fairness, and transparency[195]. - The company’s training program is designed to enhance business performance and organizational capability, focusing on key annual goals[198]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to ¥5,859,480.60[171]. Market and Customer Engagement - The company expanded its customer base, successfully developing relationships with well-known clients such as Galanz and Haier[36]. - The top five customers contributed 1,149,001.58 million in sales, representing 36.63% of total annual sales[92]. - The company employs a sales model that typically requires a 10%-20% deposit from customers, minimizing overdue payment risks[60]. - The company is focusing on enhancing its supply chain capabilities to support expansion efforts[160].