QIFAN(SH:605222)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 reached ¥18,877,541,660.47, representing a year-on-year increase of 93.90%[31]. - Net profit attributable to shareholders was ¥683,876,549.64, up 66.66% compared to the previous year[31]. - The net profit after deducting non-recurring gains and losses was ¥636,771,357.08, reflecting a growth of 68.86% year-on-year[31]. - Basic earnings per share rose to ¥1.71, a 55.45% increase from the previous year[30]. - The weighted average return on equity was 21.13%, an increase of 1.76 percentage points compared to 2020[30]. - The company achieved operating revenue of 1,887,754.17 million yuan, a year-on-year increase of 93.90%[45]. - The net profit attributable to shareholders reached 68,387.65 million yuan, reflecting a growth of 66.66% compared to the previous year[45]. - Total assets amounted to 925,091.79 million yuan, representing a 60.02% increase year-on-year[45]. - The company reported a significant improvement in accounts receivable turnover, contributing to better cash recovery[31]. - The net cash flow from operating activities improved significantly, with a net amount of ¥87,586,956.50, compared to a negative cash flow in 2020[31]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.245 RMB per share, totaling approximately 102.46 million RMB, which represents 14.98% of the net profit attributable to shareholders for 2021[6]. - The company has a three-year shareholder return plan from 2020 to 2023[6]. Market and Industry Outlook - The management has outlined potential industry and market risks in the report, emphasizing the importance of investor awareness regarding investment risks[10]. - The company plans to continue expanding its market presence and optimizing its production and inventory management strategies[31]. - The company is expanding into new markets, including electric vehicle charging, photovoltaic power, and 5G communications, to develop new profit growth points[50]. - The market is expected to continue to concentrate on high-quality brands and innovative enterprises, leading to a dominance of leading companies in the industry[60]. Research and Development - Research and development expenses for the year were 5,345.64 million yuan, up 47.70% from the previous year[48]. - The company holds 139 patents and has 3 pending patent applications as of December 31, 2021[48]. - The company aims to enhance its competitive advantages in quality control, product R&D, and market responsiveness, focusing on high-end special cable products for structural upgrades[150]. - The company emphasizes technological innovation and aims to improve production efficiency and product quality through collaboration with academic institutions[154]. - Research and development efforts are being intensified, with a budget increase of 30% aimed at developing new technologies[197]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company has not violated decision-making procedures for external guarantees[11]. - The company established a long-term mechanism to prevent the controlling shareholders from occupying the company's assets and infringing on its interests[170]. - The company has implemented an investor relations management system to enhance communication with investors and address their inquiries effectively[176]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting of its governance and operational status[175]. - The board of directors consists of 9 members, including 3 independent directors, and held 15 meetings in 2021 to ensure effective governance[173]. Social Responsibility and Recognition - The company actively engages in social responsibility initiatives, including disaster relief efforts and educational partnerships[53]. - The company has been recognized with multiple awards, including "Top 20 Most Competitive Enterprises in China's Cable Industry" and "Green Factory Demonstration"[44]. Financial Management - The company has improved its cash flow significantly, with net cash flow from operating activities turning positive after a previous deficit[101]. - The company's cash and cash equivalents increased by 241.91% to 2,441,794,104.85 CNY, reflecting good accounts receivable recovery and effective inventory management[124]. - The total procurement amount from the top five suppliers was 651,538,590.00 CNY, accounting for 33.17% of the annual total procurement[116]. - The company maintained stable financing activities with little change in bank borrowings, indicating a steady financing scale[104]. Strategic Acquisitions and Investments - The company completed the acquisition of a 64.9991% stake in Shanghai Nanyang-Tokikura Cable Co., Ltd. for ¥63.78 million[142]. - The company plans to invest up to ¥500 million in the construction of a special cable production and R&D base[144]. - Strategic acquisitions are planned to enhance product offerings, with an estimated investment of 500 million RMB allocated for this purpose[196]. Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization[198]. - The company has established a digital management platform to improve operational efficiency and decision-making processes[49]. Employee and Executive Shareholding - The total number of shares held by the company's executives increased from 261,151,400 to 262,128,600, a net increase of 977,200 shares[191]. - The company has implemented equity incentives for several executives, resulting in significant share acquisitions[188].