XILI TECHNOLOGY(SH:688616)2022-04-26 16:00Financial Performance - The total distributable profit for the year 2021 is RMB 203,081,618.79, with a proposed cash dividend of RMB 2.30 per 10 shares, totaling RMB 34,500,000.00, which represents 49.09% of the net profit attributable to the parent company[5]. - In 2021, the company's operating revenue was CNY 410.78 million, a decrease of 9.31% compared to 2020[20]. - The net profit attributable to shareholders was CNY 70.28 million, down 4.66% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 62.53 million, a decrease of 4.45% compared to the previous year[20]. - The net cash flow from operating activities decreased by 61.26% to CNY 49.79 million, primarily due to a high volume of orders in the second half of the year[23]. - As of the end of 2021, total assets increased by 32.59% to CNY 936.12 million, driven by retained earnings and the issuance of new shares[23]. - The net assets attributable to shareholders increased by 58.74% to CNY 730.98 million[23]. - Basic earnings per share decreased by 24.24% to CNY 0.50[22]. - The company recorded government subsidies of CNY 6,664,200, accounting for 8.58% of total profit[81]. - The company faced a foreign exchange loss of CNY 1,533,600 during the reporting period due to fluctuations in currency exchange rates[81]. Research and Development - The R&D expenditure accounted for 5.50% of operating revenue, an increase of 0.34 percentage points from the previous year[22]. - The company has been recognized as a national high-tech enterprise and has established several provincial-level research and development centers, enhancing its competitive edge in the smart meter industry[39]. - The company emphasizes high investment in R&D, maintaining a systematic internal regulation for the R&D process, which includes strict control over design and testing phases[40]. - The total R&D investment for the year was ¥22,585,502.22, a decrease of 3.31% compared to the previous year, while the R&D investment as a percentage of operating income increased by 0.34 percentage points to 5.50%[58]. - The company has developed core technologies in smart meters and energy management, which are critical for maintaining its competitive edge in the market[74]. - The company has filed for 5 invention patents and 5 utility model patents during the reporting period[34]. - The company has obtained a total of 84 patents, including 20 invention patents, 58 utility model patents, and 6 design patents, along with 119 software copyrights[39]. Market Expansion and Strategy - The company has expanded its overseas sales to regions including Southeast Asia, South Asia, South America, and Africa, utilizing various market entry strategies[47]. - The company is focusing on expanding its market presence and enhancing product offerings through new technology development[135]. - The company is actively pursuing strategic acquisitions to bolster its market position and product portfolio[135]. - The company is targeting a 51% increase in investment for the "14th Five-Year Plan" compared to the previous plan, focusing on digital grid construction and modernization[117]. - The company is exploring partnerships with local firms to strengthen its supply chain and reduce operational costs by 15%[136]. - The company plans to improve employee satisfaction and retention by increasing compensation and benefits as part of its growth strategy[123]. Corporate Governance - The company has established a robust internal control system to enhance risk prevention capabilities and operational standards[128]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[127]. - The company has not provided any guarantees or financial assistance to its controlling shareholder or related parties[130]. - The company has established a management system for employee training and career development, allowing employees to choose suitable career paths based on their skills[183]. - The company has committed to maintaining the rights of minority shareholders and ensuring their interests are protected[188]. Environmental and Social Responsibility - The company actively participates in social responsibility initiatives, including community service and charitable activities during the pandemic[165]. - The company strictly adheres to environmental protection laws and has implemented a management system to control energy consumption and waste emissions[167]. - The company has been actively involved in social responsibility initiatives, including community support and blood donation campaigns[175]. - The company does not fall under the category of key pollutant discharge units as per environmental protection department regulations[166]. Future Outlook - Future guidance suggests a continued growth trajectory, with expectations for increased revenue in the upcoming fiscal year[135]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 20%[136]. - The company is considering strategic acquisitions to enhance its technology portfolio, with potential targets identified[137]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs by the end of the fiscal year[140]. - The management team emphasized a commitment to sustainability, planning to reduce carbon emissions by 20% over the next three years[140].