Sirui(SH:688102)2022-04-24 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year growth of 15%[20]. - The company's operating revenue for 2021 was CNY 968,292,220.49, representing a 42.26% increase compared to 2020[32]. - Net profit attributable to shareholders for 2021 was CNY 63,362,228.68, up 21.60% year-over-year[32]. - The net profit after deducting non-recurring gains and losses was CNY 50,025,341.45, reflecting a 20.56% increase from the previous year[32]. - The basic earnings per share for 2021 was CNY 0.1760, a 21.63% increase from 2020[33]. - The company achieved a total operating revenue of CNY 968.29 million in 2021, representing a year-on-year growth of 42.26%[178]. - The net profit attributable to shareholders was CNY 63.36 million, an increase of 21.60% compared to the previous year[178]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.80 CNY per 10 shares, totaling 32,000,800 CNY (including tax) to all shareholders[6]. - The board of directors has approved the profit distribution plan for the fiscal year 2021 on April 21, 2022[6]. Audit and Governance - The company has received a standard unqualified audit report from its accounting firm[6]. - All directors have confirmed the authenticity, accuracy, and completeness of the annual report[6]. - The company has not disclosed any special arrangements for corporate governance[6]. Research and Development - Investment in R&D increased by 30% to RMB 150 million, focusing on advanced materials and technologies[20]. - The R&D expenditure as a percentage of operating revenue increased to 4.20%, up 0.93 percentage points from the previous year[33]. - R&D investment totaled ¥40,714,174.03, representing an 82.75% increase compared to the previous year, with R&D expenses accounting for 4.20% of operating revenue[122]. - The company has established technical cooperation with several institutions, including Xi'an Jiaotong University and the Chinese Academy of Sciences, to enhance its R&D capabilities[159]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a revenue contribution of 20% from this region by 2023[20]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach, with a budget of RMB 500 million allocated for this purpose[20]. - The company is actively entering new markets, including nuclear magnetic resonance and medical accelerator components, to diversify its product offerings[53]. - The company aims to strengthen its core competitiveness through a multi-dimensional approach, including technology management and innovation[54]. Risks and Challenges - The company has described potential risks in the "Management Discussion and Analysis" section of the report[6]. - The company faces risks related to the inability to commercialize new technologies or products, which could lead to unfulfilled R&D investments[160]. - The ongoing COVID-19 pandemic has introduced uncertainties that may impact the company's production continuity and operational stability[163]. - The company faces risks from international political and economic changes, particularly affecting its export markets[177]. Production and Capacity - The company initiated a five-year capacity expansion plan, targeting an annual production capacity of 12 million copper-chromium contacts by 2021[49]. - A new production line for high-performance metal chromium powder with an annual capacity of 2,000 tons was launched during the reporting period[52]. - The company plans to add 40,000 tons of copper-iron and chromium-zirconium copper alloy production capacity over the next six years, with the first phase already under construction[162]. Product Development and Innovation - New product development includes the launch of a high-performance copper alloy material, expected to generate an additional RMB 200 million in revenue in 2022[20]. - The company has developed a new generation of copper-iron alloy materials, which have broad application prospects in 5G mobile phone heat dissipation and electromagnetic shielding, showcasing its advanced material synthesis technology[72]. - The company has developed a series of advanced core technologies in high-strength and high-conductivity copper alloy materials, including 9 authorized invention patents and 3 pending patents for traction motor end ring and conductor manufacturing technology[91]. Supply Chain and Procurement - The company’s procurement model combines centralized supply chain management with autonomous procurement by various business units to ensure supply chain stability[62]. - The company has established a digital supply chain platform that enhances procurement efficiency and reduces costs, significantly improving supply chain collaboration and management experience[155]. Awards and Recognition - The company has been recognized with the Shaanxi Quality Award in 2021, highlighting its commitment to quality and innovation in manufacturing[111]. - The company has received multiple prestigious awards, including the National Science and Technology Progress Second Prize and the China Patent Excellence Award, with a total of 149 authorized invention patents by the end of the reporting period[146].