XGIMI(SH:688696)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was approximately CNY 4.04 billion, representing a 42.78% increase compared to CNY 2.83 billion in 2020[33]. - The net profit attributable to shareholders for 2021 was approximately CNY 483.50 million, a significant increase of 79.87% from CNY 268.81 million in 2020[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2021 was CNY 429,067,175.64, an increase of 73.37% compared to the previous year[36]. - The net cash flow from operating activities increased by 189.32% year-on-year, reaching CNY 536,165,740.25, primarily due to expanded sales scale and improved product gross margins[36]. - The basic earnings per share for 2021 was CNY 10.09, reflecting a year-on-year increase of 40.73%[37]. - The diluted earnings per share also increased by 40.73% year-on-year, matching the basic earnings per share at CNY 10.09[38]. - The gross margin improved due to effective pricing strategies and changes in product structure, contributing to the overall profit growth[38]. - The company's revenue from smart micro-projectors reached ¥3,784,508,482.04, accounting for 86.71% of total revenue, with a year-over-year increase of 51.97%[154]. - The gross margin for smart micro-projectors was 35.50%, an increase of 6.11 percentage points compared to the previous year[154]. Dividend and Capital Increase - The company plans to distribute a cash dividend of RMB 30 per 10 shares, totaling RMB 150 million, which represents 31% of the net profit attributable to shareholders for the year 2021[7]. - The company will increase its total share capital from 50 million to 70 million shares by issuing 20 million new shares to shareholders at a ratio of 4 shares for every 10 shares held[7]. - The independent directors have provided their opinions on the profit distribution and capital increase plan, which has been approved by the supervisory board[10]. Research and Development - The company is focusing on research and development of new technologies, including advancements in laser ranging technology (TOF) and display technologies (DLP, LCD)[1]. - The company has achieved a total R&D investment of ¥262,879,043.30 in the reporting period, representing an increase of 89.03% compared to the previous year[98]. - The company's R&D expenditure as a percentage of operating income rose to 6.51%, an increase of 1.59 percentage points compared to the previous year[37]. - R&D expenses amounted to 263 million yuan, representing a year-on-year growth of 89.03%, with R&D expenses accounting for 6.51% of revenue, up from 4.92% in 2020[49]. - The number of R&D personnel increased from 452 at the end of 2020 to 668, and the company obtained 69 new authorized invention patents during the reporting period, totaling 112[49]. - The company has a strong R&D team with extensive experience in optical and display technologies, supporting its technological advancements[112]. Market Expansion and Strategy - The company plans to expand its market presence through new product launches and technological advancements in the projection industry[1]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[1]. - The company is actively expanding its overseas market presence through third-party platforms and local retail partnerships[49]. - The company aims to enhance user experience through continuous R&D in core technologies such as optical design and intelligent sensing algorithms[112]. - The company aims to maintain its leading position in technology by investing in research and development, focusing on image auto-correction and quality optimization[193]. - The company plans to expand its market share in China while exploring markets in Europe, North America, and Japan[193]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[6]. - The company is committed to maintaining high standards of corporate governance and compliance with regulatory requirements[1]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[6]. Operational Risks - The company has detailed various operational risks in the report, which investors should be aware of[5]. - The company faces risks related to potential fluctuations in raw material prices, which could impact production costs[127]. - The company faces risks from intensified market competition and potential impacts from macroeconomic changes, including the ongoing effects of the COVID-19 pandemic[140]. Inventory and Receivables - The company’s inventory value at the end of 2021 was approximately 965.23 million yuan, accounting for 19% of total assets[131]. - The company’s accounts receivable at the end of 2021 amounted to approximately 86.77 million yuan, representing 2% of total assets[135].