Leaderdrive(SH:688017)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 reached ¥443,351,434.70, representing a 104.77% increase compared to ¥216,512,126.89 in 2020[17]. - Net profit attributable to shareholders was ¥189,183,607.41, a 130.56% increase from ¥82,052,568.36 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥146,908,315.28, showing a significant growth of 214.47% compared to ¥46,715,797.35 in 2020[17]. - Basic earnings per share increased to ¥1.5711, up 92.13% from ¥0.8177 in 2020[18]. - The weighted average return on net assets rose to 10.79%, an increase of 2.53 percentage points from 8.26% in 2020[18]. - Cash flow from operating activities decreased by 63.81% to ¥45,588,086.41, down from ¥125,971,090.88 in 2020, primarily due to increased cash outflows related to business expansion and R&D[18]. - The total assets at the end of 2021 were ¥2,084,461,088.36, reflecting a 15.86% increase from ¥1,799,062,665.22 at the end of 2020[17]. - The net assets attributable to shareholders increased to ¥1,836,964,049.10, a 9.59% rise from ¥1,676,180,806.34 in 2020[17]. - The company reported a total of ¥42,275,292.13 in non-recurring gains for 2021, compared to ¥35,336,771.01 in 2020[21]. Dividend and Capital Increase - The company plans to distribute a cash dividend of RMB 6.5 per 10 shares, totaling RMB 78,270,855, which accounts for 41.37% of the net profit attributable to shareholders for 2021[4]. - The company will also increase its capital stock by 4 shares for every 10 shares held, resulting in a total increase of 48,166,680 shares, changing the total share capital to 168,583,380 shares[4]. Research and Development - Continuous investment in R&D has been emphasized, focusing on precision harmonic reducers and mechatronic products to strengthen core product quality[25]. - R&D expenses for the current year amounted to ¥41,160,042.68, representing a 71.32% increase from ¥24,025,548.48 in the previous year[51]. - The company has 106 R&D personnel, an increase from 83 in the previous year, with R&D personnel now making up 11.43% of the total workforce[56]. - The average salary of R&D personnel increased to ¥17.26 from ¥14.24 in the previous year, reflecting a rise in compensation[56]. - The company is currently developing several projects, including a high-precision harmonic reducer with an expected total investment of ¥574 million, with ¥289.73 million invested in the current period[53]. Market Position and Product Development - The company has established a strong brand presence in the precision transmission sector, becoming a leading domestic enterprise in harmonic reducers[26]. - The product portfolio includes harmonic reducers, mechatronic products, and hydraulic products, widely used in high-end manufacturing fields[27]. - The company has accumulated a strong client base in high-end equipment industries such as industrial robots and CNC machine tools, enhancing its brand recognition in the international market[42]. - The company is expanding its product offerings to include integrated reduction modules and servo drive systems, enhancing its competitive edge in the market[63]. Governance and Compliance - The company has established a governance structure that complies with the Company Law and relevant regulations, ensuring independent operation from its controlling shareholder[102]. - The company has not experienced any violations related to insider trading or regulatory actions during the reporting period[101]. - The company has implemented a strict information disclosure policy, ensuring all disclosures are accurate, complete, and timely[106]. - The company has established specialized committees under the board, including nomination, audit, compensation, and strategy committees, to support scientific decision-making[103]. Employee Relations and Incentives - The company has implemented a performance management system to motivate employees and align their interests with corporate goals[139]. - The company has established a stock incentive plan for 2021, involving 225,000 restricted shares, representing 0.19% of the total shares, with 166 participants[144]. - The company has provided various employee benefits, including commercial insurance and wellness programs, to enhance employee satisfaction[140]. Environmental and Social Responsibility - The company has integrated ESG practices into daily operations, focusing on social responsibility and environmental protection[151]. - The company has implemented measures to reduce emissions, including installing waste gas treatment equipment and promoting energy-saving initiatives[157]. - The company contributed 6.89 million yuan to rural poverty alleviation as part of its social responsibility efforts[158]. Risks and Challenges - The company faces risks related to product R&D investment, technology leakage, and potential loss of core technical personnel, which could impact its competitive advantage[64]. - Future performance may be impacted by macroeconomic factors, industry policies, and demand fluctuations in downstream sectors such as automotive and 3C electronics[68]. - The company faces potential risks from intensified market competition, particularly from international industry giants in the harmonic reducer sector[67]. Financial Management and Investments - The company reported a total of 407 million RMB in bank wealth management products from its own funds, with an outstanding balance of 127 million RMB[199]. - The company also invested 1.107 billion RMB in bank wealth management products using idle raised funds, with an outstanding balance of 308 million RMB[199]. - The company has retained Tianheng Accounting Firm for its financial and internal control audits, with an audit fee of 477,000 RMB for the year[193].