Orinko(SH:688219)2022-04-07 16:00Financial Performance - The proposed profit distribution plan for 2021 includes a cash dividend of 0.15 CNY per 10 shares, totaling 6,889,254.48 CNY, which accounts for 12.75% of the net profit attributable to shareholders [6]. - The company has not achieved profitability since its listing [4]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year 2021, representing a growth of 15% compared to the previous year [23]. - The company achieved operating revenue of CNY 4,900,932,921.19 in 2021, representing an 18.85% increase compared to 2020 [24]. - Net profit attributable to shareholders decreased by 70.34% to CNY 54,050,553.77, while the net profit after deducting non-recurring gains and losses fell by 89.46% to CNY 16,911,280.72 [24][26]. - Basic and diluted earnings per share dropped by 72.73% to CNY 0.12, with the earnings per share after deducting non-recurring gains and losses decreasing by 89.47% to CNY 0.04 [25][27]. - The company's gross profit margin improved to 35%, up from 30% in the previous year, reflecting better cost management and pricing strategies [23]. - The company reported a significant increase in revenue from niche markets, achieving CNY 66,643.22 million, which is a 64.50% increase compared to the previous year [112]. Operational Highlights - The company has outlined various operational risks and corresponding countermeasures in the report [4]. - The company has secured UL certification for its new product range, enhancing its market competitiveness and consumer trust [23]. - The company has successfully entered the supply chain of several domestic and international new energy vehicle manufacturers, achieving bulk supply during the reporting period [26]. - The company’s capacity expansion project in Anqing, with a planned capacity of 150,000 tons, commenced production in January 2022, significantly improving production capacity and customer response capabilities [39]. - The company is focusing on enhancing its supply chain stability and reliability, creating new opportunities in the modified plastics industry [69]. Research and Development - Investment in R&D increased by 25%, totaling 150 million RMB, focusing on innovative materials and sustainable technologies [23]. - The company achieved a total R&D investment of ¥192,865,849.96, representing a 14.22% increase compared to the previous year's ¥168,849,756.40 [79]. - The company obtained 16 new authorized invention patents during the reporting period, bringing the total to 62, enhancing its competitive edge in the industry [63]. - The company is actively promoting the use of PCR recyclable materials and spray-free materials in the home appliance sector, aligning with national carbon neutrality goals [61]. - The company is focusing on the development of biodegradable materials, which are gaining traction in the domestic market due to increasing environmental regulations [67]. Market Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 5% market share by the end of 2023 [23]. - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 1.32 billion RMB, driven by new product launches and market expansion strategies [23]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $300 million earmarked for potential deals [200]. - The company is strategically positioning itself in biodegradable materials and specialty engineering materials to align with national development trends [112]. Governance and Compliance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report [4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [8]. - The company has implemented a comprehensive internal control system to enhance operational efficiency and risk management [96]. - The company maintained strict compliance with information disclosure regulations, ensuring timely and accurate reporting to protect shareholder interests [189]. - The company’s governance structure and practices were in compliance with relevant laws and regulations, with no significant discrepancies noted [192]. Customer Engagement - User data showed a 20% increase in active users, reaching 500,000 by the end of 2021, indicating strong market engagement [23]. - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the last quarter [200]. - The company has established deep collaborations with several well-known new energy vehicle manufacturers, contributing to rapid revenue growth in this segment [62]. Future Outlook - The forward-looking statements in the report carry risks due to uncertainties and do not constitute substantial commitments to investors [7]. - Overall, the company remains optimistic about future growth, driven by innovation and market expansion strategies [200]. - The company plans to enhance its R&D system by integrating cutting-edge research, application technology development, and basic research to drive technological innovation [178].