Union Precision(SH:688210)2022-04-28 16:00Financial Performance - The company's revenue for 2021 was CNY 354,533,625.45, an increase of 5.42% year-on-year[4] - The net profit attributable to shareholders was CNY 47,437,301.23, a decrease of 30.94% year-on-year[4] - The company's operating revenue for 2021 was CNY 354.53 million, representing a 5.42% increase compared to CNY 336.31 million in 2020[34] - Basic earnings per share decreased by 30.70% to CNY 0.79 in 2021, down from CNY 1.14 in 2020[35] - The weighted average return on equity dropped to 14.63% in 2021 from 26.24% in 2020, indicating a decline in profitability[35] - The company's gross margin decreased by 10.24% to 39.83%, influenced by rising costs and supply chain challenges[109] - The company reported a gross profit margin of 33.14% for 2021, indicating strong profitability[165] Research and Development - The company's R&D investment reached CNY 41,541,256.09, up 31.41% year-on-year, accounting for 11.72% of revenue[5] - Research and development expenses accounted for 11.72% of operating revenue, up from 9.40% in 2020, reflecting increased investment in new materials and technologies[35] - The total R&D investment for the year was ¥41,541,256.09, an increase of 31.41% compared to the previous year, representing 11.72% of total revenue[71] - The R&D focus included the development of customized feeding systems, new materials such as titanium alloys and magnetic materials, and automation of the entire process[71] - The company completed 32 R&D projects during the reporting period, with a total investment of ¥37,590,132.85[78] - The number of R&D personnel increased to 156, representing 18.27% of the total workforce, up from 10.36%[80] - The company is committed to continuous innovation in technology and automation to enhance production efficiency and product quality, addressing the growing market demand[60] Patents and Innovations - The company obtained 8 new authorized patents and filed 12 new patent applications during the reporting period[5] - The company has obtained 8 new patents and applied for 12 additional patents during the reporting period, bringing the total to 64 applications and 43 granted patents as of December 31, 2021[68] - The total number of patents authorized includes 9 invention patents and 16 utility model patents, reflecting the company's commitment to innovation[70] Cash Flow and Financial Management - The net cash flow from operating activities was CNY 79,107,472.71, an increase of 140.01% year-on-year[4] - The net cash flow from operating activities increased by 140.01% to CNY 79.11 million, driven by increased sales and collections[36] - The net cash flow from financing activities surged to 861.18 million RMB, reflecting a year-on-year increase of 7361.53%, primarily due to funds raised from the company's listing on the Sci-Tech Innovation Board[123] - The company intends to improve capital utilization and mitigate financial risks by collaborating with professional institutions[12] Market and Customer Relations - The company aims to deepen cooperation with major clients and expand its service offerings to new clients and fields[10] - Sales revenue from Apple and its designated EMS manufacturers accounted for 82.82% of the company's total revenue during the reporting period, indicating a high dependency on the Apple supply chain[93] - The company is focusing on enhancing its technical service capabilities to provide high-quality, cost-effective solutions to clients[83] Production and Manufacturing - The company expanded its manufacturing capabilities by adding precision injection molding, laser cutting, and CNC equipment to enhance customer service[47] - The company is diversifying its manufacturing processes by integrating precision injection, laser processing, and CNC technologies into its operations[50] - The production efficiency of MIM is high, allowing for large-scale production with significant cost advantages compared to traditional manufacturing methods[59][60] Strategic Planning and Future Outlook - The company plans to distribute a cash dividend of 2 CNY (including tax) for every 10 shares, totaling 16,000,000 CNY based on a total share capital of 80,000,000 shares as of December 31, 2021, which represents 33.73% of the net profit attributable to shareholders[16] - The company aims to enhance its core competitiveness by increasing R&D investment in new materials, processes, and equipment to improve process innovation capabilities and break through technical bottlenecks[141] - The company plans to expand its product line and production capacity in precision injection molding, CNC, and laser cutting, while also accelerating research and application of 3D printing technologies[147] - The company has set ambitious performance guidance for the upcoming fiscal year, targeting a revenue growth of over 20%[165] Governance and Compliance - The company has established a quality management system certified by ISO9001:2015, ensuring standardized management in the production process[89] - The company has implemented a comprehensive internal control system to improve governance and ensure compliance with relevant regulations[155] - The company is committed to high-quality information disclosure, ensuring transparency and protecting investors' rights[157] Human Resources and Talent Management - The total number of employees in the parent company and major subsidiaries is 854, with 619 in production, 156 in technical roles, and 8 in sales[188] - The company has established a differentiated compensation management system based on performance and capability to enhance talent attraction and employee motivation[189] - The company has a training plan in place to enhance employee skills and ensure alignment with strategic development[190]