TIANMA(SZ:000050)2022-03-14 16:00Financial Performance - The company's operating revenue for 2021 was CNY 31,829,213,790.40, representing an increase of 8.88% compared to CNY 29,232,745,052.03 in 2020[15]. - The net profit attributable to shareholders for 2021 was CNY 1,542,457,101.05, a growth of 4.61% from CNY 1,474,521,450.09 in 2020[15]. - The net profit after deducting non-recurring gains and losses decreased by 22.30% to CNY 687,017,436.92 in 2021 from CNY 884,202,505.25 in 2020[15]. - The net cash flow from operating activities for 2021 was CNY 5,052,998,088.05, down 24.32% from CNY 6,676,875,433.83 in 2020[15]. - The total assets at the end of 2021 were CNY 80,432,335,677.26, an increase of 9.35% from CNY 73,557,804,389.16 at the end of 2020[15]. - The net assets attributable to shareholders at the end of 2021 were CNY 34,872,616,733.20, up 3.89% from CNY 33,568,338,364.22 at the end of 2020[15]. - The basic earnings per share for 2021 was CNY 0.6276, a decrease of 7.01% from CNY 0.6749 in 2020[15]. - The weighted average return on net assets for 2021 was 4.51%, down from 5.05% in 2020[15]. - The company reported a total of CNY 8,272,211,824.65 in revenue for Q1 2021[18]. - The company experienced a net profit of CNY 518,581,903.66 in Q1 2021[18]. - The company reported a non-operating income of ¥865,920,736.73 in 2021, an increase of 26.4% compared to ¥685,432,542.98 in 2020[19]. Dividend Distribution - The company plans to distribute a cash dividend of 0.70 CNY per 10 shares to all shareholders, based on a total of 2,457,747,661 shares[2]. - The cash dividend proposed is 0.70 yuan per 10 shares, totaling 172.04 million yuan, which represents 100% of the profit distribution[140]. Corporate Governance - The company emphasizes the importance of accurate financial reporting and has ensured that all board members attended the meeting to review the annual report[2]. - The company has made two revisions to its articles of association during the reporting period, reflecting its commitment to governance[88]. - The company has a complete and independent organizational structure, adhering strictly to its articles of association[90]. - The company has no significant differences in governance practices compared to regulations set by the China Securities Regulatory Commission[88]. - The company has established a comprehensive information disclosure management system, ensuring transparency and compliance with relevant laws and regulations[88]. - The company is committed to maintaining transparency and accuracy in its financial reporting and corporate governance practices[96]. Risk Management - The company has established risk control measures for foreign exchange derivative transactions, ensuring compliance with internal management systems[67]. - The company has established a comprehensive risk management and internal control system, with a focus on identifying and mitigating major risks[145]. - The company is focusing on risk management and business continuity to improve its ability to respond to external environmental changes[78]. - The company recognizes potential macroeconomic risks due to ongoing global pandemic developments and economic uncertainties[77]. - The company is aware of the competitive landscape in the display industry and the need for timely updates to technology and products[78]. Research and Development - The company is actively expanding its R&D capabilities, having signed a partnership with Xiaomi to establish a joint laboratory for new display technologies[25]. - The company’s innovation center focuses on advanced technologies such as foldable displays and under-screen cameras, enhancing its competitive edge in the market[24]. - Research and development expenses decreased by 1.29% to CNY 1.998 billion[38]. - The company is investing in research and development to innovate new products that align with market trends and customer needs[96]. - The company has established a performance evaluation and incentive mechanism to enhance employee productivity and engagement[87]. Market Position and Strategy - The company achieved global first in shipments for LTPS smartphones and automotive TFT displays, and second in rigid OLED smart wearables[23]. - The company is committed to expanding its market share in the rigid wearable market, aiming to achieve the highest global shipment volume[76]. - The company plans to enhance operational efficiency and strengthen core competitiveness through digital transformation and innovation[77]. - The company aims to maintain its leading position in the LTPS mobile phone market, with a 100% coverage of major customer product lines[76]. - The company is actively pursuing market expansion, targeting a 25% increase in market share in the Asia-Pacific region over the next two years[116]. Environmental Responsibility - The company has established pollution control facilities, including wastewater and air treatment systems, to meet emission standards[157]. - The company has obtained all necessary environmental permits for its projects, including environmental impact assessments and discharge permits[158]. - The company conducts regular monitoring of pollutants through third-party agencies and has installed automatic online monitoring systems for key pollutants[160]. - The company has set annual energy-saving targets and implemented energy-saving projects, contributing to carbon emission reduction[162]. - The company is committed to improving its sustainability practices, with a goal to reduce carbon emissions by 20% by 2025[111]. Employee Management - The total number of employees at the end of the reporting period was 26,797, with 2,897 in the parent company and 23,900 in major subsidiaries[134]. - The company has implemented a differentiated compensation policy for various employee groups, including recent graduates and core technical staff, to enhance talent retention[136]. - The company has upgraded its training programs, including the "Kunpeng Plan" and "Black Horse Plan," to support talent development and improve training efficiency[138]. - The company has established a comprehensive risk management and internal control system, with a focus on identifying and mitigating major risks[145]. Strategic Changes and Leadership - The company experienced a significant turnover in its board, with multiple directors and supervisors resigning due to work-related reasons, including the chairman and several board members[97]. - The company appointed new board members to strengthen its governance and strategic direction following the recent resignations[97]. - The ongoing changes in the board and management are part of the company's strategy to adapt to market demands and enhance its competitive position[100]. - The company is actively restructuring its board and management to align with its future growth strategies and operational needs[100]. Financial Compliance - The company has fulfilled commitments regarding the source of funds for the private placement, ensuring no external fundraising or structured arrangements[175]. - The company is currently in compliance with regulations regarding short-term trading and insider trading for its partners[175]. - The company has confirmed that all commitments made regarding the private placement have been fulfilled as of the reporting date[178]. - The company has no non-compliance issues related to external guarantees during the reporting period[179].