Fuxin Technology(SH:688662)2022-03-27 16:00Financial Performance - The company reported a total revenue of 1.5 billion in 2021, representing a year-over-year growth of 15%[195]. - The company achieved a total revenue of 696.66 million RMB in 2021, representing a year-on-year growth of 11.57%[37]. - The net profit attributable to shareholders reached 88.37 million RMB, an increase of 18.93% compared to the previous year[37]. - The net profit after deducting non-recurring gains and losses was RMB 77,420,063.24, reflecting a 15.03% increase from RMB 67,302,446.44 in 2020[26]. - The company's operating revenue for 2021 was RMB 696,661,016.21, representing an increase of 11.57% compared to RMB 624,442,584.65 in 2020[26]. - The main business revenue reached CNY 693.07 million, a year-over-year increase of 11.13%[146]. - The company reported a significant increase in cash and cash equivalents to approximately ¥340.27 million, representing 37.98% of total assets, a 238.78% increase compared to the previous year[160]. - The company reported a foreign exchange loss of CNY 2.41 million, accounting for 2.42% of the total profit for the period[139]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 4 RMB per 10 shares, totaling 35,296,000 RMB, which represents 39.94% of the net profit attributable to shareholders for the year 2021[6]. - The company reported a total of 33,052,370 shares held by directors and senior management at the end of the reporting period, with no changes in shareholding during the year[190]. - The total pre-tax remuneration for directors and senior management amounted to 429.07 million yuan, with individual remuneration ranging from 24.80 million yuan to 53.65 million yuan[191]. - The company is focused on maintaining the interests of all shareholders, particularly minority shareholders[187]. Research and Development - The company increased its R&D investment by 30.45% in 2021, totaling approximately ¥35.59 million, compared to ¥27.28 million in the previous year[89]. - Research and development expenses amounted to 35.59 million RMB, up 30.45% year-on-year, accounting for 5.11% of total revenue[37]. - The company applied for 55 new patents in 2021, including 11 invention patents and 43 utility model patents, and received 28 new patent grants[87]. - The company has developed advanced technologies such as low thermal leakage and insulation technology, significantly improving the cooling performance of electronic refrigerators and wine cabinets[86]. - The company’s research and development efforts are supported by multiple core patents in material preparation, device manufacturing, and system integration[115]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[195]. - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by 2024[195]. - The company aims to strengthen market control and expand product market share through the establishment of its own brand in the long term[75]. - The company plans to expand its market applications in consumer electronics, telecommunications, and power generation, leveraging its core technology and project experience[173]. Product Development and Innovation - New product launches are expected to contribute an additional 300 million in revenue, with a focus on innovative technologies[195]. - The company has developed a new semiconductor cooling technology that significantly enhances the cooling capacity of its products, achieving 3-5 times the cooling capacity of conventional models[116]. - The company has successfully developed products for major clients in the medical and industrial systems sectors, including BGI and Siemens, with applications in nucleic acid testing and gene sequencing[43]. - The company has developed a range of new products, including portable breast milk coolers and portable cigar humidors, to meet diverse customer needs and prepare for market expansion[54]. Compliance and Governance - The company has received a standard unqualified audit report from Zhongshun Zhonghuan Accounting Firm[5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company has maintained independence from its controlling shareholders in terms of business operations and financial management[190]. Risk Management - The company has outlined various risks it may face in its operations, detailed in the management discussion and analysis section[4]. - The company faced risks related to the loss of core technical personnel and potential leakage of proprietary technology, which could weaken its competitive advantage[132]. - The company continues to emphasize risk control and governance awareness among its management team[190]. Production and Capacity - The company plans to expand production capacity significantly, with new sales capacity of 650,000 units/year for thermoelectric integrated products and 2.35 million units/year for thermoelectric systems[137]. - The company expanded its production capacity for micro thermoelectric devices, with a new workshop exceeding 2,000 square meters, capable of producing 1 million micro TECs annually[39]. - The company has implemented automated production lines for thermoelectric devices, significantly improving production efficiency and product quality consistency while reducing costs[123][124]. Customer Engagement and Satisfaction - Customer satisfaction ratings have improved to 85%, reflecting the success of recent service enhancements[195]. - The company plans to enhance customer retention by providing customized semiconductor thermoelectric technology solutions and improving after-sales services[175].