XWXN(SH:688778)2022-03-30 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 300 million RMB for the year 2021, representing a growth of 25% compared to the previous year[17]. - The company's operating revenue for 2021 reached ¥15,565,760,243.30, a 94.82% increase compared to ¥7,989,637,657.15 in 2020[24]. - Net profit attributable to shareholders was ¥555,349,247.43, reflecting a 121.66% growth from ¥250,546,071.80 in the previous year[24]. - The total profit for 2021 was CNY 612,898,000, representing a year-on-year growth of 133.32%[89]. - The company's operating costs increased to CNY 14,079,277,712.97, a rise of 96.86% year-on-year, primarily due to increased sales volume and raw material prices[90]. Dividend Distribution - The company plans to distribute a cash dividend of 5.00 CNY (including tax) for every 10 shares, totaling 125,786,133.5 CNY, which represents 22.65% of the net profit attributable to shareholders for 2021, amounting to 555,349,247.43 CNY[5]. - The company will maintain a minimum cash dividend distribution of 10% of the distributable profit for the year, with specific ratios based on the company's development stage and capital expenditure plans[156]. - The profit distribution plan must be approved by more than half of the board members and two-thirds of the voting rights at the shareholders' meeting[161]. - The company does not plan to issue bonus shares or convert capital reserves into share capital in the current profit distribution[161]. Research and Development - The company is investing in R&D for advanced battery technologies, allocating 10% of its revenue towards innovation initiatives[16]. - The company has established a research and development team of over 200 people, with R&D investment amounting to 451.858 million yuan in 2021[36]. - Research and development expenses accounted for 2.90% of operating revenue, down from 3.27% in the previous year[25]. - The company reported a 73% increase in research and development expenses, totaling approximately ¥451.86 million compared to ¥261.18 million in the previous year[62]. Market Expansion and Product Development - The company is expanding its market presence, targeting international markets with a goal to increase export sales by 50% in 2022[17]. - New product development includes the launch of a high-capacity lithium battery, which is expected to enhance energy density by 20% compared to previous models[16]. - The company has established partnerships with three major automotive manufacturers to supply lithium batteries for electric vehicles, expected to generate an additional 100 million RMB in revenue[17]. - The company is actively exploring new technologies such as sodium batteries to address raw material shortages and enhance cost-effectiveness[54]. Operational Efficiency - The gross margin improved to 35% in 2021, up from 30% in 2020, reflecting better cost management and pricing strategies[17]. - The company aims to reduce production costs by 15% through operational efficiencies and supply chain optimization in the upcoming year[17]. - The company employs a "sales-driven production" model to align production with customer orders and mid-term demand[41]. Environmental and Social Responsibility - The company consumed 556,539,508.30 kWh of electricity in 2021, reducing approximately 417,000 tons of CO2 emissions by using nuclear power instead of coal[170]. - The company has established a greenhouse gas inventory management system and is actively pursuing ISO14064 certification, with 10 internal auditors trained[169]. - The company has successfully maintained pollutant emissions within approved limits, with all emissions meeting standards[172]. - The company participated in community volunteer activities, with a total of 197 volunteers contributing 962 hours of service during the reporting period[177]. Governance and Compliance - The company has a strong governance structure, having held 8 board meetings and 2 shareholder meetings during the reporting period, ensuring compliance with relevant laws and regulations[120]. - The company has no record of penalties from securities regulatory authorities in the past three years[140]. - The company emphasizes transparency in information disclosure, adhering to regulations and ensuring timely and accurate information release[188]. - The company has established clear guidelines for share transfer and reduction to ensure market stability and investor confidence[200].