HIUV(SH:688680)2022-06-20 16:00Financial Performance - The company's operating revenue for 2021 reached ¥3,105,284,071.95, representing a 109.66% increase compared to ¥1,481,092,401.48 in 2020[22]. - The net profit attributable to shareholders was ¥252,178,402.41, a 12.97% increase from ¥223,232,234.39 in the previous year[22]. - The net cash flow from operating activities decreased by ¥1,401,972,789.35, a significant drop compared to a loss of ¥165,788,026.91 in 2020[22]. - The total assets of the company increased to ¥3,673,231,687.31, a 140.45% rise from ¥1,527,644,240.48 in 2020[22]. - The net assets attributable to shareholders grew by 206.40% to ¥2,306,384,311.69 from ¥752,733,058.33 in the previous year[22]. - Basic earnings per share decreased to ¥3.07, down 13.28% from ¥3.54 in 2020[23]. - The weighted average return on equity dropped to 12.08%, a decrease of 22.44 percentage points from 34.52% in 2020[23]. - The company's total revenue for the reporting period reached CNY 3,105.28 million, an increase of 109.66% compared to the previous year[96]. - The net profit attributable to shareholders increased by 12.97%, indicating sustained growth in the company's financial strength[95]. Dividend Policy - The company plans to distribute a cash dividend of RMB 6.10 per 10 shares, totaling RMB 51.25 million, which represents 20.32% of the net profit attributable to shareholders[5]. - The total cash dividend proposed is RMB 51.2522 million, which is less than 30% of the net profit attributable to shareholders, due to significant capital expenditures and the need for operational funds to support rapid growth[187]. - The company has established a cash dividend policy that requires positive distributable profits and sufficient cash flow, ensuring that dividends do not affect ongoing operations[186]. - The company's profit distribution policy must be approved by more than two-thirds of the voting rights at the shareholders' meeting[186]. - The independent directors are responsible for reviewing and providing independent opinions on the profit distribution plan[185]. Research and Development - Research and development expenses accounted for 4.22% of operating revenue, a slight decrease from 4.42% in 2020[23]. - The total R&D investment reached approximately ¥131 million, a 100.08% increase compared to the previous year, representing 4.22% of total revenue[73]. - The company has accumulated a total of 161 patent applications, with 92 patents granted, including 17 invention patents and 12 utility model patents[71]. - The company is focusing on the development of new products for large-sized components and N-type battery compatible components, increasing R&D investment in these areas[67]. - The company has made significant advancements in core technologies, including the development of multi-layer co-extruded POE films, which improve production efficiency and yield for component manufacturers[66]. Market Position and Strategy - The company aims to become a leading manufacturer of specialty polymer films, focusing on innovation and development in the renewable energy sector[35]. - The company attributed revenue growth to increased production capacity and a significant rise in sales of photovoltaic film products[24]. - The company plans to continue expanding its market presence and investing in new technologies to enhance product offerings[24]. - The company is positioned to leverage opportunities from the Belt and Road Initiative to enhance its international presence and technological capabilities in the specialty film materials sector over the next five to ten years[141]. - The company is actively pursuing market expansion strategies, targeting new geographical regions to increase its market share[162]. Operational Efficiency - The company has established a strong position in the photovoltaic encapsulation materials market, characterized by high technical barriers and a limited number of domestic manufacturers[60]. - The company maintains a high inventory turnover rate and improving accounts receivable turnover rate, indicating efficient operational performance compared to industry peers[83]. - The company is focused on supply chain management and cost reduction to mitigate risks associated with raw material price fluctuations and operational performance volatility[89]. - The company is committed to maintaining high standards of product quality and production efficiency to meet the growing market demand[76]. Corporate Governance - The audit report issued by Rongcheng Accounting Firm is a standard unqualified opinion[5]. - The company does not have any special arrangements for corporate governance[8]. - The board of directors held 9 meetings, and the supervisory board held 9 meetings during the reporting period, ensuring effective governance and decision-making[147]. - The company has established several specialized committees under the board, including an audit committee and a strategic committee[172]. Risks and Challenges - The company faces risks related to technological iteration and talent retention, which are critical for maintaining its competitive edge in the high-tech photovoltaic industry[87]. - The company is exposed to risks from potential changes in photovoltaic industry policies and international trade tensions, which could affect its operations[92]. - The company faces liquidity risks due to long payment cycles from major clients and short payment cycles to suppliers, impacting working capital[91]. Environmental and Social Responsibility - The company has released its first ESG report, emphasizing the importance of environmental, social responsibility, and corporate governance[195]. - In 2021, the company made donations to universities such as Shanghai Jiao Tong University and established scholarships, contributing to the education sector[195]. - The company plans to actively expand into the photovoltaic power generation industry, as well as the new energy vehicles and environmental consumption sectors[196]. - The company has set 2021 as the baseline year for greenhouse gas emissions and plans to strengthen management efforts in the future[200].