Xi'an Manareco(SH:688550)2022-04-17 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,525,576,435.25, representing a 45.35% increase compared to CNY 1,049,609,791.38 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 239,777,318.88, a 36.70% increase from CNY 175,409,496.69 in 2020[21]. - The net profit after deducting non-recurring gains and losses was CNY 214,021,934.61, up 32.98% from CNY 160,947,289.88 in 2020[21]. - The total assets at the end of 2021 reached CNY 3,830,563,570.89, a 30.97% increase from CNY 2,924,772,421.71 at the end of 2020[21]. - The company's net assets attributable to shareholders increased by 6.05% to CNY 2,854,629,226.26 at the end of 2021[21]. - The basic earnings per share for 2021 was CNY 3.42, a 14.00% increase from CNY 3.00 in 2020[22]. - The overall gross margin for 2021 was 35%, a decrease of 5 percentage points compared to 2020, primarily due to increased costs from raw materials and currency fluctuations[36]. - The company achieved a total revenue of 4,298 million RMB, with a net profit of 2,012.16 million RMB, representing a significant increase compared to the previous year[80]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the fiscal year, representing a 20% year-over-year growth[180]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 17.00 CNY per 10 shares, totaling approximately 119.31 million CNY, which represents 49.76% of the net profit attributable to shareholders for the year[5]. - The total number of shares held by directors, supervisors, and senior management at the beginning of the year was 8,776,160, with a decrease of 2,600 shares by the end of the year[178]. - The company approved the use of excess raised funds for construction projects, including the pharmaceutical raw material project in Weinan[172]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 5.2986 million[193]. Research and Development - Research and development expenses accounted for 5.46% of operating revenue, an increase of 1.43 percentage points from 4.03% in 2020[22]. - The company achieved a total R&D investment of ¥83,305,087.43, representing a significant increase of 96.93% compared to the previous year[76]. - The total number of R&D personnel reached 369, an increase of 174 compared to the end of 2020[44]. - The company completed a total of 479 R&D projects during the reporting period, including 106 pharmaceutical projects[44]. - The company has developed 5 new furan-derived materials that enhance the luminous efficiency of OLED panels, contributing to improved product performance[79]. - The company is enhancing management efficiency through automation and information technology, aiming to improve production efficiency and safety management[158]. Market and Sales Performance - The company's foreign sales revenue was 155.78 million USD, a year-on-year increase of 5.87 million USD, accounting for 65% of total revenue[36]. - The OLED segment generated sales revenue of 437.30 million RMB, accounting for 28.66% of total revenue, with a year-on-year increase of 54.91%[37]. - The liquid crystal segment achieved sales revenue of 764.82 million RMB, representing 50.13% of total revenue, with a year-on-year increase of 59.40%[40]. - The company is focused on expanding its customer base to mitigate risks associated with high customer concentration[91]. - The company plans to continue expanding its domestic market and enhancing refined management to drive future growth[32]. Governance and Compliance - The board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - The company has not violated any decision-making procedures regarding external guarantees[8]. - The company has established a governance structure consisting of a shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and compliance with relevant laws and regulations[169]. - There were no significant differences between the company's governance practices and the regulations set by the China Securities Regulatory Commission[169]. - The company did not report any issues regarding independence or operational autonomy from its controlling shareholders[169]. Operational Efficiency and Challenges - The company experienced significant growth in sales orders, contributing to the overall revenue increase[22]. - The company faces risks related to raw material price fluctuations, which could adversely affect profitability[93]. - The company is actively monitoring exchange rate fluctuations to manage potential impacts on overseas revenue[95]. - The company has implemented a systematic approach to control chiral isomer impurities, achieving a maximum of 21 reaction steps and 7 types of isomer impurity control[71]. - The company plans to strengthen inventory management and reduce the growth rate of finished goods and raw material inventory in 2022[165]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming to reach $1.875 billion[180]. - The company plans to invest 400 million CNY in major projects, including the completion of the OLED production project by Q4 2022[161]. - The company aims for a project success rate of over 90% and a pilot project success rate of over 95% in 2022[162]. - The company anticipates continued growth in OLED products, but will adjust inventory based on customer demand and technology trends[164]. - The company is exploring acquisition opportunities to enhance its product portfolio, targeting firms with complementary technologies[182].