PSR Tech(SH:688565)2023-05-03 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 2021[5]. - The company has not yet achieved profitability since its listing[4]. - In 2021, the company's operating revenue was CNY 316,400,916.59, an increase of 16.90% compared to the previous year, primarily due to the growth in revenue from desalination system equipment[24]. - The net profit attributable to shareholders was CNY 13,627,698.15, a decrease of 69.07% year-on-year, mainly due to lower gross margins on certain projects[24]. - The net cash flow from operating activities was -CNY 23,290,141.64, a decline of 195.41% compared to the previous year, attributed 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% year-on-year, primarily due to fixed asset acquisitions[24]. - The net cash flow from financing activities was CNY 174,217,920.53, an increase of 8,609.64% compared to the previous year, mainly from funds raised through the initial public offering[24]. - Basic earnings per share for 2021 were CNY 0.14, down 74.55% from CNY 0.55 in 2020[23]. - The company reported a significant increase in inventory levels, impacting cash flow and operational efficiency[24]. Research and Development - The company began research and development of hydrogen fuel cell engine systems in 2021, with successful testing of the prototype in the second half of the year[33]. - The company holds 43 authorized patents, with a research and development personnel ratio of 41.50% as of the end of 2021[36]. - The company has successfully developed and tested multiple fuel cell system prototypes, including the HYPSR-02 and HYPSR-03, which have passed national quality inspections and are ready for commercial production[61]. - The total R&D investment for the year was ¥15,822,353.54, a decrease of 11.23% compared to the previous year, with R&D investment accounting for 5.00% of operating revenue[95]. - The company has developed six invention patents in the field of integrated wastewater treatment technology, expanding its product range and business scope[91]. Market Position and Strategy - The company has established a strong market position in the nuclear and thermal power industries, providing condensate water treatment systems for 14 operational nuclear power units as of the end of 2021[78]. - The company is actively pursuing international expansion under the "Belt and Road" initiative, having already participated in significant overseas projects, including the supply of condensate water treatment systems for the "Hualong One" nuclear power project in Pakistan[146]. - The company aims to expand its hydrogen fuel cell engine system business, which has already seen successful prototype testing and order fulfillment in 2022, becoming a key component of its main business[143]. - The company is focusing on developing mobile water treatment platforms to enhance equipment utilization and meet emergency water treatment needs[81]. - The company is dedicated to maintaining its leading position in the nuclear and thermal power water treatment markets while exploring new opportunities in other environmental water treatment sectors[141]. Governance and Management - The board of directors held 9 meetings, the supervisory board held 6 meetings, and 3 shareholder meetings during the reporting period, ensuring compliance with governance regulations[151]. - The company has established specialized committees under the board, including a strategy committee and an audit committee, to support efficient decision-making[151]. - The company has implemented a training mechanism to enhance employee skills and overall quality, aligning with its rapid development needs[148]. - The company has established a governance structure involving the shareholders' meeting, board of directors, independent directors, supervisory board, and senior management to ensure effective internal control[190]. - The company has not reported any significant issues regarding independence from its controlling shareholders, ensuring operational autonomy[151]. Environmental and Sustainability Initiatives - The company actively engages in ESG management, integrating ESG factors into daily operations and monitoring significant ESG risks and opportunities[193]. - The company promotes resource conservation and energy-saving practices, advocating for green office initiatives and reducing unnecessary consumption of resources[196]. - The company has implemented measures to reduce carbon emissions, aligning with national "dual carbon" goals and promoting low-carbon living among employees[200]. - The company recognizes the importance of environmental protection policies and aims to leverage these for sustainable growth in the water treatment sector[140]. - The company has established a comprehensive environmental management system and conducts regular training to enhance employee awareness of environmental protection[198].