WAYS(SH:605218)2022-04-25 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a year-over-year growth of 15%[15]. - The company's operating revenue for 2021 was CNY 1,200,514,740.14, representing an increase of 8.98% compared to CNY 1,101,607,723.36 in 2020[24]. - The net profit attributable to shareholders decreased by 35.86% to CNY 52,396,409.89 from CNY 81,691,193.97 in the previous year[24]. - The basic earnings per share fell by 47.88% to CNY 0.2462, down from CNY 0.4724 in 2020[25]. - The weighted average return on equity decreased to 4.66%, down from 12.16% in 2020, reflecting a decline of 7.50 percentage points[25]. - The gross margin improved to 30%, up from 28% in the previous year, indicating better cost management[15]. - The company reported a total of CNY 17,516,979.96 in non-recurring gains and losses for 2021, compared to CNY 15,747,440.21 in 2020[30]. - The company achieved operating revenue of 1,200.51 million yuan, an increase of 8.98% compared to the previous year, while net profit attributable to shareholders decreased by 35.86% to 52.40 million yuan[36]. Cash Flow and Investments - The net cash flow from operating activities was CNY 18,889,672.86, a significant recovery from a negative cash flow of CNY -6,403,176.64 in 2020[24]. - Cash and cash equivalents at year-end increased to 491.56 million yuan, a 67.74% increase compared to the previous year[81]. - The company reported a significant increase in investment income received, totaling 239.77 million yuan, up 244.15% year-on-year[80]. - The total amount of cash received from other investment activities reached 1.01 billion yuan, a staggering increase of 2377.52% compared to the previous year[80]. - The company has invested a total of RMB 74,500,000 in bank wealth management products, with RMB 60,500,000 sourced from raised funds and RMB 14,000,000 from its own funds[196]. Research and Development - R&D expenses totaled 82.13 million yuan, representing a year-on-year increase of 23.65%, with 23 new utility model patents granted during the reporting period[38]. - The company is investing 50 million RMB in R&D for innovative automotive electronic solutions over the next year[15]. - The company plans to increase R&D investment in new energy vehicle display technologies to meet the growing market demand[101]. - Research and development investments increased by 20%, focusing on next-generation technologies[141]. - The number of R&D personnel was 401, accounting for 21.55% of the total workforce[77]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[15]. - A strategic acquisition of a local electronics firm is planned, which is anticipated to enhance production capabilities and reduce costs by 5%[15]. - The company aims to strengthen its market share in the automotive display sector and expand into the domestic market while focusing on strategic cooperation with major clients[101]. - The company will develop large backlight modules and composite display components to adapt to the increasing size of automotive displays driven by smart cockpit applications[106]. Governance and Compliance - The audit report issued by Deloitte confirms the financial statements' authenticity and completeness, ensuring no significant omissions or misleading statements[5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance[4]. - The company adheres to strict information disclosure regulations, ensuring timely and accurate communication with shareholders[129]. - The company plans to continue improving its governance structure in accordance with relevant laws and regulations[132]. - The company has established a performance evaluation mechanism for senior management, linking their performance salary to individual and overall company performance[165]. Risks and Challenges - The company faces risks from international trade tensions, particularly the ongoing US-China trade war, which could adversely affect overall business performance[112]. - The company is exposed to risks from rising prices of raw materials and labor costs, which could negatively impact production costs and profitability if not effectively managed[118]. - The ongoing COVID-19 pandemic may lead to decreased customer demand and delays in order fulfillment, adversely affecting business performance[114]. - The company is at risk of reduced demand from downstream customers due to supply chain issues, particularly the shortage of automotive chips affecting production plans[119]. Shareholder Relations - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares, totaling 10,641,673 RMB, representing a cash dividend payout ratio of 20.31% for the year 2021[6]. - The total remuneration for directors and senior management during the reporting period amounted to 1,064.49 million yuan[137]. - The company guarantees that any share reductions will be at or above the IPO price and net asset value per share[178]. - The company will publicly apologize and compensate investors for any losses incurred due to non-compliance with the commitments made in the prospectus[181].