CEI(SH:688128)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was CNY 340,745.45 million, representing a 35.24% increase compared to CNY 251,964.72 million in 2020[27]. - The net profit attributable to shareholders for 2021 was CNY 31,506.13 million, an increase of 11.44% from CNY 28,270.82 million in 2020[27]. - The basic earnings per share for 2021 was CNY 0.78, an increase of 11.43% from CNY 0.70 in 2020[29]. - The net cash flow from operating activities decreased by 71.61% to CNY 10,810.82 million, down from CNY 38,086.21 million in 2020[27][30]. - The company's total assets increased by 21.46% to CNY 485,125.90 million at the end of 2021, compared to CNY 399,402.14 million at the end of 2020[29]. - Operating costs increased by 43.47% to 247,563.78 million from 172,556.69 million, primarily due to rising raw material prices and increased sales volume[177]. - The overall gross profit margin decreased by 4.47 percentage points to 26.61% due to the increased proportion of low-margin chemical raw materials and products[186]. Dividend Distribution - The company plans to distribute a cash dividend of 3.5 yuan (including tax) for every 10 shares, totaling approximately 141,575,000 yuan, which represents 44.94% of the net profit attributable to shareholders for 2021[7]. Risk Management - The company reported no significant risk events during the reporting period, ensuring a stable operational environment[5]. - The management has provided a forward-looking statement risk declaration, indicating potential risks in future plans and strategies[8]. - The company emphasizes the importance of investment risk awareness for investors regarding forward-looking descriptions[8]. - The company faces risks related to technological upgrades and iterations, which could impact its competitive edge if not managed properly[169]. - The company's revenue and net profit growth may be adversely affected by macroeconomic downturns and fluctuations in downstream industries[175]. - The company's overseas market expansion is subject to local regulations, foreign exchange policies, and pandemic control measures, posing operational risks[175]. - The company's profitability in the environmental coatings and resin business may decline due to fluctuations in raw material prices, impacting revenue and profit levels[175]. Research and Development - Research and development expenses accounted for 7.25% of operating revenue, a decrease of 1.04 percentage points from 8.29% in 2020[29]. - R&D investment increased by 18.32% year-on-year during the reporting period[30]. - The company achieved a total of 24,718.91 million CNY in R&D investment, representing an 18.32% increase compared to the previous year[122]. - The total R&D investment accounted for 7.25% of the operating revenue, a decrease of 1.04 percentage points from the previous year[122]. - The company applied for a total of 198 intellectual property rights, with 138 newly granted during the reporting period[121]. - The company holds a total of 752 authorized patents, including 201 invention patents as of December 31, 2021[121]. Market Expansion and Product Development - The company plans to continue expanding its market presence and enhance the application of new technologies and products[30]. - The company has successfully developed 18 new polyester resin products, receiving high recognition from customers[44]. - The company has expanded its high-end intelligent equipment market, securing orders from a well-known home appliance manufacturer for high-end refrigerator sheet metal lines and entering the automotive and logistics sectors with multiple projects[60]. - The company has successfully increased its international business, including a significant contract with an Italian company and its first municipal project in Egypt, demonstrating its ability to overcome pandemic-related challenges[60]. - The company has developed competitive products in the electric equipment sector, capturing a market share of 38% in its specific segment[163]. Awards and Recognition - The company received 17 various awards for outstanding achievements, including the first prize in the Guangdong Provincial Science and Technology Progress Award[42]. - The company has been recognized by 31 domestic and international automotive brands, including General Motors and Ford, enhancing its market presence in the smart automotive sector[55]. - The company has been recognized as a leading certification body for green building materials, supporting its strategic focus on sustainable development[55]. - The company has been approved as a public service demonstration platform for specialized and innovative enterprises in Guangdong Province, enhancing its market position[167]. Operational Efficiency - The company has established 12 national-level R&D and technical service platforms, enhancing its position as a leading technical service provider in the domestic electrical industry[64]. - The company has established a strong brand influence and credibility in the electrical field, holding various domestic and international certifications, outperforming comparable companies in the number of certifications obtained[91]. - The company has maintained a direct sales model, leveraging its technical strength and long-term customer relationships to secure new orders and government procurement contracts[69]. Environmental and Social Responsibility - The company has successfully completed key projects in the hydropower sector, including the largest pumped storage power station in China, with a capacity of 3×400MW, and has established a strong foundation for future expansion in this area[59]. - The company is focusing on continuous innovation in environmentally friendly coatings to meet market demands for energy efficiency and functionality[85]. - The company has launched new environmentally friendly coatings that significantly reduce volatile organic compound emissions while maintaining high performance, achieving international advanced levels[115].