Genew(SH:688418)2022-05-25 16:00Financial Performance - The company reported no cash dividends, stock bonuses, or capital reserve transfers for the 2021 profit distribution plan[5]. - The company has not achieved profitability since its listing[4]. - The company reported a total revenue of RMB 10 billion for the fiscal year 2021, representing a year-over-year growth of 15%[14]. - The company's operating revenue for 2021 was ¥464,294,559.75, a decrease of 7.12% compared to the previous year, primarily due to project acceptance-based revenue recognition affected by the ongoing COVID-19 pandemic[28]. - The net profit attributable to shareholders for 2021 was -¥101,529,634.56, a decline of 335.51% year-on-year, with a net profit of -¥114,357,477.87 after deducting non-recurring gains and losses, down 441.48%[28]. - The net cash flow from operating activities was -¥230,130,275.96, mainly due to increased payments for core material procurement and employee salaries[28]. - Basic earnings per share for 2021 were -¥0.5244, a decrease of 301.15% compared to the previous year[27]. - The company's total assets at the end of 2021 were ¥1,599,263,482.69, an increase of 6.53% from the end of 2020[26]. - The company's net assets attributable to shareholders decreased by 8.94% year-on-year, totaling ¥1,143,479,063.44 at the end of 2021[26]. - The company reported a significant increase in revenue, reaching $X billion, representing a Y% growth compared to the previous year[18]. Research and Development - Investment in R&D for new technologies increased by 25%, focusing on 5G and optical network advancements[15]. - Research and development expenses accounted for 31.05% of operating revenue, an increase of 17.39 percentage points compared to the previous year[27]. - The company increased its R&D personnel to 530, with R&D expenses reaching 122.39 million yuan, a 79.23% increase from the previous year's 68.29 million yuan[42]. - The company applied for 555 patents, including 529 invention patents, and 233 software copyrights as of December 31, 2021[43]. - The company achieved a total R&D investment of ¥144,152,058.74, a significant increase of 111.09% compared to the previous year[77]. - The proportion of R&D investment to operating revenue rose to 31.05%, up from 13.66% in the previous year, reflecting a 17.39% increase[77]. - The company is investing in R&D for new technologies, allocating $E million to develop innovative solutions in the FPGA and CPLD sectors[18]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[15]. - The company is actively expanding into new markets, including South Asia and the Middle East, which has led to increased travel and marketing expenses[40]. - The company is exploring potential acquisitions to enhance its product offerings and market presence, with a budget of $G million set aside for this purpose[18]. - The company is focusing on the "ALL IN 5G" strategy and satellite internet, leveraging its core network advantages to expand globally[167]. - The company aims to expand its overseas customer base, particularly in Southeast Asia, South Asia, and the Middle East, while also deepening its presence in the domestic specialized network market[169]. - The company plans to optimize its organizational structure by establishing new departments such as a bidding center and strategic marketing department to improve operational efficiency[170]. Customer and Market Insights - User data showed an increase in active subscribers, reaching 50 million, which is a 10% increase compared to the previous year[14]. - Customer satisfaction ratings improved to 85%, reflecting the effectiveness of recent service enhancements[14]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the fiscal year, representing a 20% growth compared to the previous year[188]. - User data showed a 15% increase in active users, reaching 10 million by the end of the fiscal year[188]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2021, representing a growth of 15% year-over-year[194]. - Customer satisfaction metrics improved, with a reported increase of 15% in positive feedback from users in 2021 compared to the previous year[194]. Governance and Compliance - The audit report issued by Tianjian Accounting Firm was a standard unqualified opinion[5]. - The company has not disclosed any special arrangements for corporate governance[6]. - The company has a governance structure that complies with relevant laws and regulations, with no significant discrepancies noted[177]. - The company held 5 shareholder meetings and 12 board meetings in 2021, ensuring compliance with legal and regulatory requirements and protecting the rights of minority shareholders[175][176]. - The company implemented a strict insider information management system to minimize the risk of information leakage, ensuring equal access to information for all shareholders[177]. Operational Efficiency - The company aims to reduce operational costs by 10% through the implementation of Network Functions Virtualization (NFV) technology[15]. - The company plans to implement a new marketing strategy, allocating an additional $50 million to digital marketing efforts in 2023[190]. - The company is exploring partnerships with local firms to enhance distribution channels, aiming for a 30% increase in sales through these collaborations by 2023[194]. - The company plans to continue focusing on R&D and market expansion despite the challenges faced in 2021[28]. Sustainability and Corporate Responsibility - The company is committed to sustainability, with plans to reduce carbon emissions by 20% over the next five years[15]. - The board of directors emphasized the importance of sustainability initiatives, committing to reduce carbon emissions by 25% by 2025[194]. - A commitment to sustainability and corporate social responsibility initiatives was highlighted as part of the company's long-term strategy[186].