WANYI SCIENCE(SH:688600)2022-03-09 16:00Financial Performance - The company reported a total revenue of 6,722,979.31 million, with a significant increase from the previous period of 2,752,606.88 million, indicating a growth of approximately 144%[78]. - The company's operating revenue for 2021 was CNY 562,452,406.95, representing a 34.79% increase compared to CNY 417,273,123.13 in 2020[21]. - The net profit attributable to shareholders decreased by 19.32% to CNY 47,483,382.05 from CNY 58,857,429.31 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 53.76% to CNY 14,134,536.84 from CNY 30,568,478.52 in 2020[21]. - The basic earnings per share decreased by 28.00% to CNY 0.36 from CNY 0.50 in 2020[22]. - The gross profit margin for the main business was 49.88%, a decrease of 1.50 percentage points compared to the previous year[113]. - The company reported a total revenue of 324.63 million RMB, with a net profit of 193.62 million RMB, reflecting a significant increase compared to the previous period[86]. Research and Development - The company increased R&D investment to a total of RMB 117.31 million, representing a year-on-year growth of 70.53%[33]. - Research and development expenses accounted for 20.86% of operating revenue, an increase of 4.37 percentage points from 16.49% in 2020[22]. - The company has developed several key products, including the CEMS1000 continuous emission monitoring system, recognized as a national key new product, and various water quality monitoring instruments certified as provincial new products[91]. - The company has filed for 26 new invention patents and obtained 5 during the reporting period, contributing to a total of 209 applications and 55 granted patents[69]. - The company has established a research and development team of 398 personnel, an increase of 46.86% compared to the previous period, covering various fields such as physics, chemistry, and software engineering[92]. - The company’s R&D efforts are aligned with market demands, leading to the successful launch of multiple innovative products in the environmental monitoring sector[90]. Market Expansion and Strategy - The company launched new products and intensified market expansion efforts, contributing to the revenue growth despite the pandemic's impact[23]. - The company established seven offices in major cities, including Xi'an and Guangzhou, to improve service quality and market presence[36]. - The company aims to support the "carbon peak and carbon neutrality" goals by developing greenhouse gas monitoring systems and a low-carbon city management platform[34]. - The company is actively pursuing market expansion in environmental monitoring equipment, focusing on sectors like steel and cement[35]. - The company plans to strengthen its sales team and expand both domestic and international markets, aiming to build a comprehensive marketing service network[140]. Governance and Compliance - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finances, ensuring autonomous operational capabilities[145]. - The company’s governance structure complies with national laws and regulations, as well as the guidelines set by the China Securities Regulatory Commission[145]. - The company held 5 shareholder meetings and 9 board meetings during the reporting period, ensuring transparency and participation from minority shareholders[144]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation and decision-making[143]. Risks and Challenges - The company faces risks related to management scalability as its business continues to grow rapidly, which may impact its market competitiveness if not managed properly[101]. - The company must continuously develop new products to meet market demand, as its existing products have a long usage life and customer purchasing frequency is low[102]. - The company is at risk of losing market share due to increasing competition from new entrants employing aggressive pricing strategies[104]. - The company faced risks related to macroeconomic uncertainties, including trade tensions and the ongoing impact of the COVID-19 pandemic[105]. Employee and Talent Management - The company has a total of 188,679 shares held indirectly by core technical personnel, representing 0.1415% each for multiple individuals[156]. - The company has established a performance management system that is results-oriented and incentivizes employees, ensuring competitive compensation[177]. - The training program is structured into four sequences, focusing on leadership, professional development, new employee integration, and general skills[179]. - The company is focused on attracting talent to maintain its core technology team amidst increasing market competition[106]. Product Development and Innovation - The company has developed a multi-functional ion chromatograph capable of simultaneous detection of cations and anions, which has successfully entered the market[69]. - The helium mass spectrometer has achieved a response time of less than 0.5 seconds, significantly improving from the original target of 1 second[68]. - The company completed the environmental certification for the atmospheric aerosol lidar, which has successfully been launched into the market[69]. - The company aims to enhance product development in industrial testing, environmental protection, and laboratory analysis instruments, focusing on "import substitution" and "carbon peak, carbon neutrality" opportunities[137]. Dividend Policy - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares, totaling 26,668,000 RMB, which accounts for 56.16% of the net profit attributable to shareholders for 2021[5]. - The cash dividend for 2020 was CNY 2.50 per 10 shares, totaling CNY 33,335,000, accounting for 56.64% of the net profit for that year[183]. - The company has a clear cash dividend policy that protects the rights of minority investors[185].