Yunlu Materials(SH:688190)2022-04-14 16:00Financial Performance - The company reported a distributable profit of ¥119,750,381.15 for the year 2021, with a proposed cash dividend of ¥3.3 per 10 shares, totaling ¥39,600,000.00, which represents 33.07% of the net profit attributable to shareholders [7]. - The company's operating revenue for 2021 was ¥935,745,824.22, representing a year-on-year increase of 30.82% compared to ¥715,279,639.90 in 2020 [26]. - The net profit attributable to shareholders for 2021 was ¥119,750,381.15, up 24.94% from ¥95,847,551.02 in 2020 [26]. - The net profit after deducting non-recurring gains and losses was ¥101,608,278.20, reflecting a 15.33% increase from ¥88,104,390.30 in 2020 [26]. - The company's total assets reached ¥2,298,158,600.20 at the end of 2021, a 193.88% increase from ¥782,013,160.68 at the end of 2020 [26]. - The net assets attributable to shareholders increased by 306.53% to ¥1,831,964,795.42 at the end of 2021, compared to ¥450,633,424.97 at the end of 2020 [26]. - Basic earnings per share for 2021 were ¥1.29, a 21.56% increase from ¥1.07 in 2020 [26]. - The company's R&D investment accounted for 5.66% of operating revenue, slightly down from 5.77% in 2020 [26]. - The net cash flow from operating activities decreased by 26.19% year-on-year, primarily due to rising prices of bulk raw materials and increased advance payments for goods [29]. - The company achieved operating revenue of RMB 935.75 million, a year-on-year increase of 30.82%, and a net profit attributable to the parent company of RMB 119.75 million, up 24.94% year-on-year [39]. Corporate Governance - The board of directors has confirmed that all members attended the board meeting, ensuring the integrity of the annual report [6]. - The company has established a governance structure compliant with the requirements for listed companies, including a board of directors and various specialized committees [176]. - There are no significant differences between the company's governance and the regulations set by the China Securities Regulatory Commission [176]. - The company has not faced any issues regarding independence from its controlling shareholders or related party transactions [176]. - The company has maintained a stable shareholding structure, with no changes in the number of shares held by key personnel during the reporting period [182]. - The company held a total of 4 shareholder meetings during the reporting period, with all resolutions passed and no rejected proposals [180]. Risk Management - The company has disclosed potential risks in its operations, which investors are advised to consider [5]. - The company faced risks related to core technology leakage and talent retention, which could impact its competitive edge [126]. - The gross profit margin is under pressure due to rising raw material costs and changes in export tax policies [127]. - The company is exposed to foreign exchange risks due to a significant portion of its revenue being denominated in USD, which could affect its competitiveness in international markets [130]. Research and Development - The company is focused on the development of advanced materials technology, which is a key area of its business strategy [17]. - Total R&D investment during the reporting period was CNY 52.96 million, an increase of 28.39% year-on-year, with 11 new patents granted [42]. - The company has established a comprehensive R&D management system, focusing on independent and collaborative research to enhance core competitiveness and drive innovation in materials, processes, and applications [61]. - The company has developed high magnetic permeability, low loss iron-based nanocrystalline alloys, addressing the challenge of efficient alloy development methods [103]. - The number of R&D personnel has increased to 100, representing 20% of the total workforce, up from 75 and 16.59% in the previous period [116]. Market Position and Strategy - The company has maintained its leading position in the global amorphous strip market, responding to national energy efficiency standards by promoting high-efficiency amorphous alloy products [39]. - The company has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, raising net funds of RMB 1.29 billion, marking a significant milestone in its development [38]. - The company is focused on enhancing the performance of amorphous alloys through precise design and the addition of new alloying elements, aiming to improve product uniformity and reduce production costs [82]. - The company has become the largest supplier of amorphous alloy strips in the industry, with an annual production capacity of 60,000 tons [90]. - The company is transitioning from a supplier of amorphous alloy strips to a comprehensive solution provider for downstream products and the entire industry chain [90]. Sustainability and Green Development - The company is committed to green development, focusing on providing reliable green energy-saving products and solutions throughout the entire lifecycle [42]. - The company emphasizes green manufacturing and aims to contribute to carbon neutrality while providing reliable green energy materials and solutions [172]. - The demand for high-efficiency, low-carbon materials is driven by global carbon neutrality goals, with the company’s products offering significant advantages over traditional silicon steel materials [78]. Financial Management - Operating costs increased by 39.40% to 717,021,882.88 CNY, primarily due to rising prices of raw materials and increased shipping costs [138]. - The company reported a significant increase in cash flow during the reporting period [141]. - Cash and cash equivalents at the end of the period amounted to ¥99,210,582.17, representing 4.32% of total assets, an increase of 31.80% compared to the previous period [161]. - Financial expenses decreased by 59.89% to ¥2,650,890.14, attributed to reduced exchange losses compared to the previous year [156]. Future Outlook - The company has set a revenue guidance of 1.5 billion RMB for the next fiscal year, projecting a growth rate of 25% [192]. - The company plans to continue expanding its market presence and invest in new product development [141]. - The company aims to enhance market development by focusing on customer needs and increasing product quality management [172].