MAIXINLIN(SH:688685)2022-04-25 16:00Financial Performance - The company reported a profit distribution plan for 2022, proposing no cash dividends, no bonus shares, and no capital reserve conversion into shares[5]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges[4]. - The company's total revenue for 2021 was ¥320,719,681.94, an increase of 11.12% compared to ¥288,633,639.42 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥50,962,035.15, a decrease of 0.46% from ¥51,199,325.91 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥40,671,255.93, down 7.97% from ¥44,194,686.65 in 2020[20]. - The net cash flow from operating activities increased by 94.93% to ¥118,304,254.61 from ¥60,689,100.63 in 2020[21]. - The total assets at the end of 2021 were ¥866,353,272.12, reflecting a 30.76% increase from ¥662,575,018.04 in 2020[21]. - The company's net assets attributable to shareholders increased by 60.59% to ¥665,286,242.82 from ¥414,267,785.15 in the previous year[21]. - Basic earnings per share for 2021 were ¥0.51, a decrease of 16.39% compared to ¥0.61 in 2020[22]. - The company's operating costs increased by 18.77% to ¥218,722,078.09, primarily due to the new factory and equipment coming into use[85]. - The company reported a net loss of 153.42 million, highlighting challenges in its financial performance[109]. Operational Risks and Governance - The company has detailed various operational risks in the report, urging investors to be cautious[4]. - The audit report issued by Lixin Certified Public Accountants confirmed the financial statements' accuracy and completeness[5]. - The company has no non-operating fund occupation by controlling shareholders or related parties[7]. - The company has no violations in decision-making procedures for external guarantees[7]. - The company emphasizes that forward-looking statements do not constitute substantial commitments to investors[6]. - The company has a comprehensive risk factor analysis in the management discussion section[4]. - The board of directors was fully present during the board meeting, ensuring governance integrity[5]. - The company has not disclosed any special arrangements in corporate governance[8]. - The company has established an internal control system to enhance risk prevention and operational standards in compliance with regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange[126]. - The company reported no significant differences in governance compared to regulations, ensuring independence and operational capability[128]. Research and Development - The research and development expenditure as a percentage of revenue was 5.13%, down from 5.71% in 2020[22]. - The company increased its R&D investment, developing new aircraft components and hydraulic products, which shortened the introduction and mass production cycle of new products[32]. - The research and development strategy combines independent, collaborative, and innovative absorption approaches, focusing on process and product design[39]. - The company has developed 12 core technologies in the aerospace field, with 11 being independently developed and 1 acquired from Nanjing University of Aeronautics and Astronautics[54]. - The company has achieved batch application maturity in numerical control processing deformation control technology for weak rigid thin-walled metal structures, ensuring processing capabilities[54]. - The company has added 21 new patents during the reporting period, including 7 invention patents, bringing the total authorized invention patents to 30 and utility model patents to 87[57]. - Total R&D expenditure for the year was approximately ¥16.45 million, a slight decrease of 0.24% compared to the previous year, with R&D expenditure as a percentage of operating income at 5.13%, down 10.22%[60]. - The company is currently working on several key projects, including the development of aluminum alloy flexible connections and integrated turbine discs for aircraft engines, with total investments of ¥154 million and ¥195 million respectively[62]. Market and Product Development - The company has established a dual business model focusing on aerospace components and precision parts for multiple civilian industries, achieving a continuous optimization of product and customer structure[36]. - Aerospace sector revenue and profit account for over 30% of the company's total revenue and profit, indicating a strong reliance on this segment[43]. - The company has developed core technologies in aerospace components since 2015, enhancing product complexity and precision, and expanding into aircraft assembly tooling[36]. - The company has expanded its precision manufacturing technology into automotive and electronics sectors, diversifying its market presence[36]. - The company is focusing on high-performance manufacturing methods that ensure the reliability and performance of aerospace components, utilizing advanced materials like composite materials and high-temperature alloys[52]. - The market for civilian aerospace components is expanding, with increasing opportunities for private enterprises as military technology transitions to civilian applications[52]. Environmental and Social Responsibility - The company emphasizes ESG initiatives, implementing energy-saving measures and promoting environmental awareness among employees[163]. - The company has implemented strict environmental management practices, ensuring compliance with environmental laws and regulations[171]. - The company has established a dedicated team for environmental protection, focusing on carbon emission reduction through technology innovation and energy conservation[172]. - The company encourages employees to adopt green commuting options and has implemented energy-saving measures in its operations[175]. - The company has not introduced any new technologies or products specifically aimed at carbon reduction during the reporting period[173]. Shareholder and Investor Relations - The company is focused on enhancing investor communication and protecting shareholder rights through transparent information disclosure[124]. - The company has established an investor hotline to address investor inquiries and enhance trust[186]. - The company conducted multiple investor relations activities, including in-person meetings and online interactions, to enhance communication with investors[186]. - The company has committed to transparency regarding its shareholding structure and any potential changes post-IPO[197]. - The company has committed to a 36-month lock-up period for shares held by major shareholders and executives following the IPO[197]. - Major shareholders are restricted to reducing their holdings by no more than 1% of total shares in any 90-day period through open market transactions[200]. Employee Management and Compensation - The company has a structured training plan aimed at enhancing employee skills and aligning with development needs[154]. - The company has a clear policy for employee compensation linked to performance and contribution, ensuring alignment with industry standards[153]. - The number of R&D personnel increased to 94, representing 37.45% of the total workforce, up from 27.03% in the previous period[69]. - Total compensation for R&D personnel reached RMB 1,427.50 million, with an average salary of RMB 15.19 million[69]. - Total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 3.5619 million[141]. Compliance and Regulatory Adherence - The company strictly adhered to the laws and regulations regarding information disclosure, ensuring accurate and timely reporting of its operational management situation[188]. - The company has maintained a high level of compliance with its information disclosure obligations throughout the reporting period[188]. - The company has established a comprehensive intellectual property management system and received the Intellectual Property Management System Certification in May 2021[189]. - The company has implemented measures to strengthen the management of insider information, ensuring compliance with disclosure regulations and reducing the risk of violations[127].