Neway CNC(SH:688697)2022-03-28 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,712,609,866.58, representing a 47.06% increase compared to CNY 1,164,557,491.19 in 2020[19]. - The net profit attributable to shareholders of the listed company was CNY 168,542,518.32, a 62.06% increase from CNY 103,998,745.69 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 151,794,232.25, up 60.59% from CNY 94,525,446.41 in 2020[19]. - The net cash flow from operating activities reached CNY 217,728,110.34, a significant increase of 200.73% compared to CNY 72,399,257.06 in 2020[19]. - The company's operating revenue for 2021 reached RMB 1,712.61 million, representing a year-on-year increase of 47.06%[21]. - The net profit attributable to shareholders for 2021 was RMB 168.54 million, up 62.06% compared to the previous year[21]. - Basic earnings per share increased to RMB 0.64, a growth of 52.38% year-on-year[20]. - The weighted average return on equity was 23.19%, a slight decrease of 0.16 percentage points from the previous year[20]. - The company's revenue for the year 2021 increased by 26.2% year-on-year, with the metal cutting machine tools segment growing by 28.9%[49]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the fiscal year, representing a year-over-year growth of 15%[123]. Dividend and Profit Distribution - The proposed cash dividend for 2021 is RMB 2.50 per share, totaling RMB 81,666,675.00, which accounts for 48.45% of the net profit attributable to shareholders[4]. - The company's board of directors has approved the profit distribution plan, which is subject to shareholder meeting approval[4]. - The profit distribution plan requires approval from shareholders, with a two-thirds majority needed for the proposal to pass[149]. - The company's board must complete the distribution of dividends within two months after the shareholders' meeting[149]. - The company aims for a minimum cash dividend ratio of 80% for mature stages without significant capital expenditures, and 40% if there are major expenditures[146]. Research and Development - The total R&D investment for 2021 was approximately ¥73.69 million, representing a 47.41% increase from ¥49.99 million in the previous year[61]. - R&D investment accounted for 4.30% of total revenue, slightly up from 4.29% in the previous year, indicating a stable commitment to innovation[61]. - The company has developed adaptive processing technology, which optimizes spindle output while controlling load and temperature, and has been tested on certain models[57]. - The intelligent anti-collision technology has been implemented in some models, allowing for real-time monitoring of abnormal vibrations to prevent damage[58]. - The company has focused on six core technology areas, enhancing its capabilities in CNC machine tools and intelligent manufacturing[57]. - The company has established a high-quality R&D team with 156 personnel, accounting for 15% of total employees, including 28 senior engineers and 44 engineers[44]. - The company plans to invest 100 million CNY in R&D for new technologies over the next three years[123]. Market Expansion and Strategy - The company plans to continue expanding its market presence and invest in new product development to enhance competitiveness[11]. - Future guidance indicates a focus on increasing production capacity and improving operational efficiency to meet growing demand[11]. - The company is exploring potential mergers and acquisitions to accelerate growth and market penetration[11]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[123]. - A strategic acquisition of a local competitor is in progress, which is anticipated to add 200 million CNY in annual revenue[124]. Corporate Governance - The company has established a comprehensive internal control system to enhance governance and risk management[114]. - The company held 2 shareholder meetings and 5 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[114]. - The company has established specialized committees, including an audit committee and a strategic committee, to enhance governance[133]. - The board of directors is responsible for ensuring that minority shareholders have opportunities to express their opinions and protect their rights[150]. - The company has mechanisms in place to address any violations by shareholders regarding the use of company funds[149]. Environmental and Social Responsibility - The company is committed to ESG principles, viewing them as essential for sustainable and long-term development[156]. - The company achieved compliance with emission standards for various pollutants, including non-methane total hydrocarbons and particulate matter, with discharge volumes of 0.4449 t/a and 0.1561 t/a respectively[157]. - The company has implemented effective pollution control facilities, including a washing tower and catalytic combustion for exhaust treatment[159]. - The company donated 100,000 yuan to the Suzhou High-tech Zone Science and Technology City Community Public Welfare Foundation for educational support[174]. - The company has established a dedicated EHS management team to oversee safety, environmental protection, and occupational health[171]. Employee and Talent Management - The company employed a total of 1,040 employees, with 710 in production, 109 in sales, 156 in technical roles, and 57 in administration[139]. - The company has established a competitive compensation strategy to attract and motivate talent, ensuring alignment with strategic goals[140]. - In 2022, the company plans to enhance employee training focusing on high-skill and technical talent development, utilizing an E-Learning platform for training delivery[141]. - The company has a total of 12 master's degree holders among its employees, indicating a focus on higher education within its workforce[139]. Risk Management - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[6]. - There are no violations of decision-making procedures for external guarantees[6]. - The company faces competitive pressure from high-end machine manufacturers in Japan, South Korea, and Taiwan, necessitating continuous technological advancements[79]. - The company relies on external suppliers for key components, which poses risks related to supply stability and cost fluctuations[77].