2022-03-28 16:00Financial Performance - The company's revenue for 2021 was approximately RMB 1.77 billion, representing a 32.61% increase compared to RMB 1.33 billion in 2020[16]. - The net profit attributable to shareholders for 2021 was approximately RMB 352.24 million, a 53.10% increase from RMB 230.07 million in 2020[16]. - The net cash flow from operating activities for 2021 was approximately RMB 342.29 million, reflecting a 30.61% increase compared to RMB 262.07 million in 2020[16]. - The total assets at the end of 2021 were approximately RMB 6.95 billion, a 10.35% increase from RMB 6.30 billion at the end of 2020[16]. - The company's net assets attributable to shareholders at the end of 2021 were approximately RMB 5.71 billion, a 4.06% increase from RMB 5.49 billion at the end of 2020[16]. - The basic earnings per share for 2021 were RMB 2.00, a 53.85% increase from RMB 1.30 in 2020[17]. - The diluted earnings per share for 2021 were RMB 2.00, consistent with the basic earnings per share[17]. - The net profit after deducting non-recurring gains and losses for 2021 was approximately RMB 327.96 million, a 58.88% increase from RMB 206.43 million in 2020[16]. - The total amount of non-recurring gains and losses was 24,270,714.28 RMB, showing a slight increase from 2020[21]. Dividend and Share Capital - The company plans to distribute a cash dividend of 7.00 CNY per 10 shares, totaling approximately 123.08 million CNY, which accounts for 34.94% of the net profit attributable to shareholders for the year 2021[3]. - The total share capital of the company as of the report date is 175,822,100 shares[3]. - The company does not plan to increase capital reserves or issue bonus shares[3]. Corporate Governance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[2]. - The board of directors and senior management confirm the authenticity, accuracy, and completeness of the annual report[2]. - There are no significant non-operating fund occupations by controlling shareholders or related parties[4]. - There are no violations of decision-making procedures regarding external guarantees[5]. - The company has not disclosed any special arrangements for corporate governance[5]. - The report includes a forward-looking statement risk declaration, indicating potential risks in future plans and strategies[4]. Research and Development - The R&D expenditure as a percentage of revenue for 2021 was 9.48%, slightly down from 9.49% in 2020[17]. - The company reported a significant increase in R&D expenditure compared to 2020, contributing to future growth despite rising operational costs[18]. - The company has increased its R&D investment to develop new technologies and products, focusing on collaboration with renowned universities and research institutions[67]. - The company has a comprehensive R&D project management system, primarily relying on its internal teams for product development[67]. - The company has developed a range of core technologies, including the BioVue® surface modification technology for artificial lenses and innovative preparation techniques for hyaluronic acid products[70]. - The company has filed for 42 new patents during the reporting period, with a total of 311 patents granted to date[78]. - The company is currently developing 22 projects, with 11 projects in clinical trials and 11 in preclinical research stages[83]. Market Performance and Strategy - The company maintained a 45.24% market share in the ophthalmic viscoelastic device market in China, leading the market for 14 consecutive years[26]. - The company is focusing on expanding its product lines in ophthalmology and medical aesthetics, with new products entering clinical trials and ongoing development of innovative solutions[24]. - The company achieved total revenue of RMB 1,766.99 million in 2021, an increase of RMB 434.57 million, representing a growth rate of 32.61% compared to the previous year[23]. - The company is the largest producer of orthopedic joint cavity viscoelastic supplements in China, with a market share that has grown from 42.06% in 2019 to 43.30% in 2020[44]. - The company is exploring new strategies in market expansion and product development, particularly in the field of ophthalmic and orthopedic treatments[83]. Acquisitions and Investments - The company acquired 55% of Hengtai Vision and secured exclusive distribution rights for high-end corneal reshaping contact lenses in mainland China, enhancing its market presence[33]. - The company acquired 60% of Hebei Xinkang, which has approved medical device registrations for various soft contact lenses, facilitating the production of new myopia control products[36]. - The group acquired a 63.64% stake in Euroha Medical for RMB 205 million, expanding its product offerings in the field of radiofrequency and laser medical beauty devices[41]. - The company plans to invest up to USD 31 million in Eirion for exclusive rights to develop and commercialize innovative botulinum toxin products in Greater China[42]. Financial Position and Cash Flow - The net cash flow from investing activities turned negative at -148.09 million RMB, a significant decrease compared to the previous year's positive cash flow[119]. - The net cash flow from financing activities also increased to -231.25 million RMB, mainly due to the repayment of short-term bank loans[119]. - The company reported a financial net income of 84.85 million RMB, a decrease of 14.40% due to declining deposit interest rates[118]. - The company’s total assets at the end of the reporting period amounted to 6,949,000,000.00 CNY, with a significant increase in inventory by 39.05% to 354,765,098.16 CNY due to proactive procurement strategies[121]. Market Trends and Opportunities - The company anticipates continued growth in the ophthalmology market, driven by increasing health awareness and payment capabilities among consumers[127]. - The market size for orthopedic joint cavity viscoelastic supplements in China was approximately CNY 1.837 billion in 2020, a year-on-year decrease of 14.4%, and is expected to grow to CNY 2.111 billion by 2026, with a CAGR of about 1.9% from 2021 to 2026[132]. - The Chinese medical beauty market size is expected to reach CNY 184.6 billion in 2021, with a year-on-year growth of over 20%[130]. - The number of myopia patients in China has exceeded 600 million, with the youth myopia rate being the highest in the world, indicating a significant market demand for myopia prevention and correction products[129]. Management and Governance - The company has appointed several directors and executives across various subsidiaries, including positions in Haohai Holdings and Haohai Cayman, indicating a strong leadership structure[187]. - The management team includes individuals with extensive experience in the medical technology field, which may contribute to future innovations and product developments[188]. - The company has maintained a consistent presence in the market with key personnel serving in their roles for several years, ensuring stability and continuity in leadership[187]. - The company has established specialized committees, including an audit committee and a strategic committee, to enhance governance[196].