LPM(SH:605577)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,790,597,927.22, representing a 16.24% increase compared to CNY 1,540,410,005.28 in 2020[26]. - Net profit attributable to shareholders for 2021 reached CNY 442,929,480.26, a significant increase of 145.01% from CNY 180,781,113.53 in 2020[26]. - The net cash flow from operating activities for 2021 was CNY 286,682,169.93, up 17.15% from CNY 244,705,672.49 in 2020[26]. - The company's total assets increased to CNY 4,687,841,159.80 at the end of 2021, reflecting an 11.53% growth from CNY 4,203,140,558.19 at the end of 2020[26]. - Basic earnings per share for 2021 were CNY 1.0678, a 136.24% increase compared to CNY 0.4520 in 2020[26]. - The weighted average return on equity for 2021 was 16.75%, an increase of 8.85 percentage points from 7.90% in 2020[26]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 180,123,598.94, which is a 76.40% increase from CNY 102,111,321.00 in 2020[26]. - The company's net assets attributable to shareholders increased by 24.01% to CNY 2,970,817,154.59 at the end of 2021, compared to CNY 2,395,539,899.11 at the end of 2020[26]. - The total non-recurring gains and losses for 2021 amounted to CNY 262,805,881.32, significantly higher than CNY 78,669,792.53 in 2020[30]. - The company reported a net profit of CNY 132,199,773.30 in Q1 2021, but experienced a loss of CNY 56,905,967.61 in Q2 2021[29]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 yuan (including tax) for every 10 shares, totaling 44,444,444.50 yuan (including tax) based on the total share capital of 444,444,445 shares as of the end of 2021[7]. - The company implemented a cash dividend of RMB 0.44 per 10 shares, amounting to RMB 17,600,000.00, as approved in the 2020 annual shareholders' meeting[151]. Audit and Compliance - The company received a standard unqualified audit report from Zhongxing Caiguanghua Accounting Firm[5]. - There are no non-operating fund occupations by controlling shareholders or related parties reported[9]. - The company has not violated decision-making procedures for external guarantees[9]. - The company has not faced any issues with more than half of the directors being unable to ensure the authenticity, accuracy, and completeness of the annual report[9]. - The company's financial report is guaranteed to be true, accurate, and complete by the responsible persons, including the chairman and accounting supervisor[6]. Business Operations and Strategy - The company launched a five-year development plan focusing on high-quality development, diversification, and talent enhancement[36]. - The digital publishing business expanded, with a 10.53% year-on-year increase in the issuance of teaching materials and auxiliary books, totaling an increase of 12.6 million CNY[36]. - The company actively engaged in social responsibility initiatives, distributing over 1.9 million books related to party history education, with a total value exceeding 60 million CNY[36]. - The company has established a comprehensive distribution network, including 34 bookstores recognized as "cultural landmarks" in Heilongjiang Province[45]. - The company has undertaken 65 national publishing fund projects during the 13th Five-Year Plan period, showcasing its content resource advantage[43]. Market and Product Development - The company is focused on developing high-quality publications and enhancing the variety of educational materials, which contributed to the revenue growth[48]. - The company holds a 69.37% market share in the rental educational materials segment, with a total print volume of 38.47 million copies and a total revenue of 3.80 billion RMB[79]. - The company is actively expanding its training services for educational materials, enhancing its offerings to meet local educational needs[79]. - The company has obtained the necessary licenses to operate as the sole distributor of textbooks in Heilongjiang Province, valid until October 21, 2024[81]. Financial Management and Cost Control - In 2021, the company's sales expenses increased by 19.24% year-on-year, primarily due to higher employee compensation and promotional expenses[52]. - Management expenses decreased by 69.20% year-on-year, mainly due to the reversal of post-employment benefits amounting to 221 million RMB[52]. - Financial expenses dropped by 93.59% year-on-year, attributed to increased interest income[52]. - R&D expenses decreased by 52.44% year-on-year, as several R&D projects were completed[52]. - The company's main business revenue from publishing and distribution accounted for 90.80% of total revenue[53]. Employee and Management Structure - The total number of employees in the company and its main subsidiaries is 3,001, with 54 in the parent company and 2,947 in subsidiaries[145]. - The company has a total of 3,787 retired employees for whom it bears expenses[145]. - The company has established a competitive salary system linked to performance results to motivate employees[146]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 7.4798 million yuan[132]. - The company has implemented a training program for employees, focusing on capacity building and practical application of skills[147]. Governance and Compliance - The company has established a complete and independent organizational structure, including a shareholders' meeting, board of directors, and supervisory board, in compliance with relevant laws and regulations[107]. - The company has no instances of asset or resource occupation by shareholders that would harm its interests during the reporting period[107]. - The company has committed to ensuring that the prospectus and other issuance documents for the IPO do not contain false records, misleading statements, or significant omissions, and will bear individual and joint legal responsibility for their authenticity, accuracy, and completeness[183]. Future Outlook and Growth Plans - The company provided guidance for 2022, expecting revenue to grow by 10% to 1.32 billion[116]. - The company plans to leverage VR and AR technologies to create more integrated publishing products, aiming to seize development opportunities[96]. - The company aims to enhance its publishing business by leveraging regional characteristics and producing influential works, while also integrating digital publishing resources to improve product functionality and cultural value[101]. - The company plans to increase its market share in the education sector by promoting various educational materials and optimizing the structure of educational publishing products[102].