Jet Bio-Filtration(SH:688026)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 reached ¥855,658,196.26, representing a 69.80% increase compared to ¥503,933,836.45 in 2020[16]. - The net profit attributable to shareholders for 2021 was ¥171,157,975.38, a 43.38% increase from ¥119,371,464.55 in 2020[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥172,997,459.68, up 57.89% from ¥109,567,050.22 in 2020[16]. - The net cash flow from operating activities for 2021 was ¥221,383,765.99, an 18.03% increase from ¥187,566,736.11 in 2020[16]. - The total assets at the end of 2021 amounted to ¥1,180,454,882.67, a 21.73% increase from ¥969,709,074.32 at the end of 2020[16]. - The net assets attributable to shareholders at the end of 2021 were ¥971,819,365.19, reflecting a 21.95% increase from ¥796,893,187.84 at the end of 2020[16]. - The company's basic and diluted earnings per share increased by 40.16% to CNY 1.71 compared to the previous year[17]. - The net profit attributable to shareholders grew by 43.38% to CNY 69.80 million, primarily due to increased sales of disposable plastic consumables in biological laboratories[18]. - The weighted average return on equity rose by 3.05 percentage points to 19.39% compared to the previous year[17]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 6.00 CNY per 10 shares, totaling 60,000,000 CNY, which represents 35.06% of the net profit attributable to shareholders for 2021[4]. - The profit distribution plan has been approved by the board and awaits shareholder meeting approval[4]. - The cumulative distributable profit for the parent company as of December 31, 2021, was CNY 401.0929 million[156]. - The company plans to distribute at least 10% of the annual distributable profit as dividends, with higher percentages based on the company's development stage and capital expenditure plans[155]. Research and Development - The company applied for 28 patents during the reporting period, including 7 invention patents and 17 utility model patents[27]. - The company achieved a total R&D investment of ¥43,840,335.07, representing an increase of 83.46% compared to the previous year[51]. - R&D investment accounted for 5.12% of total revenue, up from 4.74% in the previous year, marking an increase of 0.38 percentage points[51]. - The number of R&D personnel increased to 150, accounting for 10.48% of the total workforce, up from 6.87% the previous year[69]. - The company is planning to continue increasing R&D investment in response to market demands in cell therapy, biomedicine, infectious disease detection, and vaccine development[27]. Market Expansion and Strategy - The company aims to expand its market share in the biological laboratory consumables industry and penetrate the medical consumables and medical devices sectors[27]. - The company is focused on expanding its market presence and enhancing product development capabilities[10]. - The company plans to enhance its domestic marketing network and expand its market share, aiming for higher penetration rates of domestic products[28]. - The company is exploring overseas brand marketing channels and enhancing its production capabilities through smart manufacturing technologies[28]. - The company aims to strengthen its brand influence and market presence, targeting an increase in domestic market penetration and the establishment of overseas marketing channels within the next three years[122]. Production and Operational Efficiency - The company is focusing on expanding its production capacity to alleviate bottlenecks, with increased demand for disposable plastic consumables in the life sciences sector[28]. - The company has implemented automation in the production of protective masks, establishing a fully automated operation from material feeding to packaging[45]. - The company’s investment in automation technology has led to a significant reduction in manual intervention in production processes, enhancing overall efficiency[58]. - The company has established a flexible customized production capability, allowing for advanced product design solutions and continuous development of high-end consumables, effectively enhancing profitability and core competitiveness[72]. Compliance and Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[3]. - The company has not yet achieved profitability since its listing[3]. - The company has detailed potential risks in the annual report, which can be found in the "Management Discussion and Analysis" section[3]. - The company has no violations of decision-making procedures for external guarantees[5]. - The company has not reported any significant changes in its governance structure or independence from its controlling shareholder[125]. Risks and Challenges - The company faces risks in new product market promotion, as new products may take time to achieve large-scale sales, limiting short-term profitability[78]. - Domestic market expansion is challenged by the dominance of imported brands, which may hinder the company's ability to significantly increase its market share[78]. - The company is exposed to overseas sales risks due to geopolitical uncertainties and trade policies, particularly affecting its competitiveness in the U.S. market[79]. - The demand for protective products has declined post-pandemic, leading to potential legal disputes and asset impairment risks due to unsold inventory[80]. - The company is at risk of raw material price fluctuations, as major materials are derived from petroleum, which is subject to price volatility[82]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, focusing on energy conservation and technological innovation to improve production efficiency[183]. - The company donated 10 million KN95 masks to support pandemic prevention efforts in Guangzhou[186]. - The company has established a quality control management system certified by ISO 9001:2015 and ISO 13485:2016, ensuring no major product quality issues reported[192]. Shareholder and Management Policies - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 7.1365 million RMB[138]. - The company has established a compensation and assessment committee to evaluate senior management based on performance standards, continuously improving long-term incentive policies[170]. - The company has a remuneration policy where the compensation for senior management consists of basic salary and year-end bonuses, with the basic salary determined by job level and responsibilities[138]. - The company has committed to maximizing shareholder value while adhering to legal and regulatory requirements for profit distribution[187].