Forecam(SH:688010)2022-06-09 16:00Financial Performance - The company's operating revenue for 2021 was CNY 674.64 million, an increase of 14.82% compared to CNY 587.55 million in 2020[23]. - The net profit attributable to shareholders for 2021 was CNY 45.04 million, a decrease of 11.72% from CNY 51.02 million in 2020[23]. - The net profit after deducting non-recurring gains and losses was CNY 17.53 million, down 53.99% from CNY 38.10 million in 2020[23]. - The net cash flow from operating activities decreased by 65.10% to CNY 28.97 million, compared to CNY 83.01 million in 2020[23]. - The total assets at the end of 2021 were CNY 2.69 billion, an increase of 15.16% from CNY 2.34 billion at the end of 2020[23]. - The basic earnings per share for 2021 were CNY 0.2958, a decrease of 10.96% from CNY 0.3322 in 2020[24]. - The company reported a significant decrease in net profit due to increased depreciation, interest expenses, and reduced investment income from joint ventures[24]. - The company achieved a total profit of 50.30 million yuan, a year-on-year decrease of 8.72%[37]. - The company experienced an increase in financial expenses by 10.23 million yuan due to increased bank borrowings[37]. - The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 35.82% to 137.98 million yuan[37]. Research and Development - The R&D expenditure as a percentage of operating revenue was 7.78%, down from 8.18% in 2020[24]. - Research and development investment reached 52.50 million yuan, accounting for 7.78% of operating revenue, marking a historical high[36]. - The company achieved a total R&D investment of ¥52,504,092.82, representing a 9.21% increase compared to the previous year[65]. - The company applied for 98 new patents during the reporting period, with 55 patents granted, including 24 invention patents[61]. - The company has accumulated 601 patents, including 256 invention patents, with 55 new patents added during the reporting period[50]. - The company is actively involved in the development of new products, including a 10K ultra-high-definition continuous zoom lens and infrared lenses for various applications[56]. - The company completed the design and process verification of a large-caliber transmission astronomical observation lens as part of a national key research project[36]. - Significant breakthroughs were made in the design of a 1-meter optical telescope for astronomical observation, enhancing its capabilities for high-altitude research[59]. Market and Industry Trends - The optical lens industry is experiencing significant growth, driven by advancements in artificial intelligence and the increasing demand for specialized optical products in aerospace and defense sectors[46]. - The demand for automotive cameras is expanding from rear-view to side, surround, front, and interior views, driven by advancements in ADAS and autonomous driving technologies[48]. - The market for security lenses is becoming increasingly competitive, with high-cost performance products gaining larger sales volumes[54]. - The overall scale of China's ultra-high-definition video industry is projected to exceed 4 trillion yuan by 2022, with 200 million users[53]. - The company is positioned to benefit from the trend of intelligentization in military and civilian applications, particularly in optical systems[51]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with legal and regulatory requirements[131]. - The company emphasizes investor relations management, ensuring effective communication and interaction with investors through various channels[132]. - The company held multiple shareholder meetings in 2021, approving significant resolutions including the annual financial budget and profit distribution plan[133]. - The company has not experienced any significant changes in competition from its controlling shareholder or related parties[132]. - The company has a structured approach to managing its board and supervisory committee elections, ensuring continuity in governance[135]. Strategic Initiatives - The company is actively developing new business units, including projection optical machines, to ensure revenue growth beyond existing ceilings[41]. - The company aims to adjust its product structure to provide high-cost performance optical lenses to maintain and enhance market share[83]. - The company is committed to improving employee training and establishing a performance assessment system to enhance overall employee capabilities[127]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position, with a budget of 300 million yuan allocated for this purpose[141]. - The company is considering strategic acquisitions to bolster its market position, targeting firms with complementary technologies[139]. Financial Management - The company plans to distribute a cash dividend of RMB 0.90 per 10 shares, totaling RMB 13,624,125.93, which accounts for 30.25% of the net profit attributable to shareholders for 2021[6]. - The company has a structured salary policy that includes fixed salaries, performance bonuses, and project incentives for different employee categories[162]. - The company has established a comprehensive procurement internal control management system to ensure timely product delivery and quality control[188]. - The company has implemented cost-cutting measures that are projected to save approximately 50 million yuan annually[141]. - The company’s cash dividend, including the repurchase amount, accounted for 157.92% of the net profit attributable to shareholders for the year[168]. Social Responsibility and Sustainability - The company emphasizes the importance of ESG work, integrating it into daily operations while focusing on environmental protection, employee rights, and shareholder interests[175]. - The company has made significant contributions to social responsibility, including a donation of 200,000 RMB to the Fujian Province Charity Foundation in January 2021[183]. - The company has implemented strict environmental management practices, ensuring compliance with national regulations and avoiding any administrative penalties related to environmental issues[178]. - The company has actively promoted a culture of environmental awareness among employees, advocating for energy conservation and low-carbon living[175]. - The company has established a comprehensive waste management system to handle hazardous waste in accordance with legal requirements[179].