YDC(SH:605555)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was RMB 2,841,506,369.90, representing a 37.63% increase compared to RMB 2,064,666,441.93 in 2020[21]. - The net profit attributable to shareholders for 2021 was RMB 300,674,270.10, showing a slight decrease of 1.09% from RMB 304,001,765.51 in 2020[21]. - The net profit attributable to shareholders of the listed company decreased by 2.81% to ¥259,836,290.22 compared to the previous year[22]. - The net cash flow from operating activities increased by 114.80% to ¥235,033,449.54, significantly improving liquidity[22]. - The total assets of the company grew by 100.39% to ¥3,683,599,802.37 compared to the end of 2020[22]. - The weighted average return on equity decreased by 39.93 percentage points to 45.93% from the previous year[23]. - Basic earnings per share fell by 6.45% to ¥2.03, indicating a decline in profitability[23]. - The company reported a significant increase in net assets attributable to shareholders, rising by 353.62% to ¥2,292,201,135.82[22]. - The first quarter revenue was ¥615,788,802.95, with a net profit of ¥58,655,188.96, showing strong performance early in the year[25]. - The company achieved a total sales revenue of 2.842 billion RMB, representing a year-on-year growth of 37.63%[32]. - The company reported a net profit attributable to shareholders of RMB 300,674,270.10 for the year 2021, with retained earnings as of December 31, 2021, amounting to RMB 562,283,565.44[127]. Dividend and Capital Structure - The proposed cash dividend for 2021 is RMB 3.5 per 10 shares, totaling RMB 66,493,000 (including tax) based on a total share capital of 189,980,000 shares[5]. - The company plans to increase its share capital by 4 shares for every 10 shares held, resulting in a new total share capital of 265,972,000 shares after the capital reserve conversion[5]. - The company’s registered capital will change to RMB 265,972,000 after the proposed capital increase[5]. - The total number of employees in the parent company and major subsidiaries is 3,566, with 2,756 in the parent company and 810 in subsidiaries[121]. - The company has a differentiated salary system for R&D, sales, and administrative personnel, with specific components for each role[122]. Operational Challenges - The company faced challenges from rising raw material prices and currency fluctuations, impacting gross margins and profitability[31]. - Operating costs rose to 2.292 billion RMB, an increase of 52.04% year-on-year, primarily due to rising raw material prices[45]. - Fluctuations in raw material prices, particularly plastics and metals, have been significant, impacting cost structures and profit margins[93]. - The company is implementing measures to control costs and manage inventory to reduce risks associated with raw material price volatility[93]. Research and Development - Research and development expenses increased by 33.08% to 97.66 million RMB, indicating a commitment to innovation and new product development[49]. - The total number of R&D personnel was 329, representing 9.23% of the company's total workforce[62]. - The company holds 19 invention patents and 113 utility model patents, showcasing its strong R&D capabilities[43]. - The company is committed to building a robust R&D infrastructure, increasing the scale of its R&D team, and collaborating with external institutions to enhance technological innovation[91]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with legal and regulatory requirements[98]. - The board of directors consists of 7 members, including 3 independent directors, ensuring a balanced governance framework[99]. - The supervisory board has conducted 5 meetings during the reporting period, maintaining oversight of financial and operational compliance[100]. - The company completed 16 temporary announcements and regular reports, ensuring all shareholders had equal access to information[102]. - The company has established a comprehensive investor relations management system, utilizing multiple communication channels[101]. Market and Industry Trends - The global pandemic has led to increased demand for home cleaning appliances, particularly in developed markets, due to heightened awareness of cleanliness[77]. - The sales volume of new energy vehicles in China reached 3.521 million units in 2021, representing a year-on-year growth of 157%, driving the overall automotive market growth[81]. - The penetration rate of EPS (Electric Power Steering) systems in domestic passenger vehicles is increasing, with expectations for further market expansion as the domestic automotive market recovers[85]. - North America and Europe remain the primary markets for electric garden machinery, with rising consumer demand for environmentally friendly and low-noise solutions[86]. Financial Management - The company has invested a total of RMB 110 million in public large-denomination certificates of deposit and RMB 100 million in structured deposits, both sourced from idle raised funds[167]. - The company has a total of RMB 50 million in structured deposits with CITIC Bank, with an expected annual return rate of 3.05%[168]. - The company reported a significant increase in capital reserves to ¥1,480,469,147.00, which is 40.19% of total equity, primarily due to public offerings[69]. - Cash and cash equivalents at the end of the period reached ¥1,812,975,223.62, accounting for 49.22% of total assets, a significant increase of 506.82% compared to the previous period[66]. Legal and Compliance - The company is currently involved in a significant civil lawsuit regarding trademark infringement, with a claim for damages amounting to RMB 100 million[161]. - The company has not faced any penalties from securities regulatory agencies in the past three years[113]. - The company has not reported any major litigation or arbitration matters beyond what has been disclosed[162]. - The company has not experienced any changes in the indirect shareholding of directors during the reporting period[107]. Shareholder Information - The top ten shareholders hold a total of 139,285,000 shares, representing 73.68% of the total shares[185]. - Huang Yuchang is the largest shareholder with 46,285,296 shares, accounting for 24.36% of the total shares[185]. - The company has a total of 50,000,000 unrestricted shares, which represents 26.32% of the total shares[175]. - The limited shares held by major shareholders will become tradable in October 2024, with Huang Yuchang holding 4,628.53 shares[192].