PSR Tech(SH:688565)2022-05-16 16:00Financial Performance - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares, totaling 22,553,000 RMB, which accounts for 61.55% of the net profit attributable to shareholders for the year 2021[5]. - The company has not yet achieved profitability since its listing[4]. - The company’s profit distribution plan requires approval from the annual general meeting of shareholders[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management team[5]. - The company's operating revenue for 2021 was CNY 420,239,898.12, representing a 55.26% increase compared to the previous year, primarily driven by a 54.11% increase in revenue from condensate water treatment systems and a 36.81% increase from desalination systems[24]. - The net profit attributable to shareholders for 2021 was CNY 36,639,644.35, a decrease of 16.85% from the previous year[22]. - The net cash flow from operating activities was -CNY 23,290,141.64, a decline of 195.41% year-on-year, mainly due to rapid project advancement and increased procurement scale[24]. - The net cash flow from investing activities was -CNY 73,479,069.45, a decrease of 231.37% compared to the previous year, primarily due to fixed asset acquisitions[24]. - The total assets at the end of 2021 were CNY 931,498,959.11, reflecting a 28.01% increase from the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were CNY 653,435,873.28, up 56.18% from the previous year[22]. - Basic earnings per share for 2021 were CNY 0.38, down 30.91% from CNY 0.55 in 2020[23]. - The weighted average return on equity for 2021 was 6.63%, down 4.44 percentage points from 11.07% in 2020[23]. Research and Development - The R&D expenditure as a percentage of operating revenue was 3.77%, a decrease of 2.82 percentage points from the previous year[23]. - The company began research and development of hydrogen fuel cell engine systems in 2021, with successful prototype testing in the second half of the year[33]. - The R&D team comprises 41.50% of the workforce, with 43 authorized patents, including 11 invention patents and 32 utility model patents[36]. - The company has invested over 30 million yuan in the hydrogen fuel cell business, with plans to apply for 3 patents and 11 additional patents along with 1 software copyright[58]. - The company has successfully developed high-performance vehicle membrane electrodes and corrosion-resistant metal bipolar plates, with the HYPSR-02 fuel cell system prototype passing national quality inspections[57]. - The company has developed a proprietary technology system for water treatment, including high tower condensate treatment technology, thermal membrane coupling seawater desalination technology, and integrated wastewater treatment technology[79]. - The company has developed six invention patents in the field of wastewater treatment systems, expanding its product range and business scope[87]. - The company is developing a visual intelligent monitoring system for water interfaces, which is currently in progress and aims to expand into various industries[92]. Market and Business Strategy - The company aims to become a leading technology-driven environmental protection enterprise while focusing on hydrogen fuel cell engine systems and expanding its market presence[35]. - The company plans to expand its business into other industrial water treatment sectors and enhance its product system through continuous innovation in water treatment technologies[34]. - The company is focusing on developing hydrogen fuel cell engine systems as part of its strategic growth initiatives[140]. - The company aims to enhance its product offerings by integrating technologies from various industries, such as chemical and biological sectors, to meet the evolving demands of water treatment[72]. - The company is actively pursuing new markets in seawater and brackish water desalination, capitalizing on China's water scarcity issues, with a focus on energy-efficient desalination systems[144]. - The company plans to develop wastewater treatment services, responding to the increasing industrial wastewater discharge due to economic growth and urbanization, while adhering to new environmental regulations[144]. - The company has been involved in international projects under the "Belt and Road" initiative, enhancing its global presence and market opportunities since entering overseas markets in 2010[145]. Corporate Governance - The company has established a robust corporate governance structure, holding multiple board meetings and ensuring compliance with relevant laws and regulations[150]. - The company has successfully passed all resolutions in its shareholder meetings, indicating strong governance and stakeholder alignment[153]. - The company has established specialized committees under the board, including the Audit Committee and the Strategic Committee[171]. - The company has implemented a comprehensive internal control system covering all aspects of business activities and internal management, maintaining effective internal controls related to financial statements[188]. - The company actively engages in ESG management, integrating ESG factors into daily operations and monitoring significant ESG risks and opportunities[191]. Environmental and Social Responsibility - The company focuses on environmental protection and pollution prevention, adhering to relevant regulations and ensuring safe and compliant operations[200]. - The company promotes resource conservation and energy-saving practices, advocating for green office initiatives and reducing unnecessary consumption of resources[194]. - The company has taken measures to reduce carbon emissions, including using energy-efficient equipment and promoting low-carbon lifestyles among employees[198]. - The company has established an environmental management system and conducts regular training to enhance employees' awareness of environmental protection[197]. Employee and Compensation Policies - The company has a cash dividend policy that prioritizes cash distribution, with a minimum of 10% of the distributable profit to be distributed in cash if conditions are met[183]. - The company aims for cumulative cash dividends over three years to be no less than 30% of the average annual distributable profit during that period[183]. - The company has established a training plan to align with corporate culture and long-term strategic planning, ensuring effective employee development[180]. - The remuneration policy emphasizes employee welfare and performance assessment to prevent talent loss and support sustainable development[179]. - The total pre-tax compensation for all directors and key personnel amounted to 3,571,400 RMB, with a total shareholding of 40,130,000 shares[158].