联创电子(002036) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥10,557,942,617.55, representing a 40.18% increase compared to ¥7,531,942,899.28 in 2020[25]. - The net profit attributable to shareholders was ¥112,439,526.97, a decrease of 31.33% from ¥164,379,436.57 in the previous year[25]. - The net cash flow from operating activities improved significantly to ¥550,454,615.24, compared to a negative cash flow of ¥122,219,680.45 in 2020, marking a 550.38% increase[28]. - The total assets at the end of 2021 were ¥12,969,495,750.60, reflecting a 4.98% increase from ¥12,388,259,718.69 at the end of 2020[28]. - The company's basic earnings per share decreased to ¥0.11, down 35.29% from ¥0.17 in 2020[28]. - The weighted average return on net assets was 3.06%, down from 6.39% in the previous year, indicating a decline of 3.30%[28]. - The company reported a total of ¥87,449,079.45 in non-recurring gains and losses for 2021, compared to ¥132,136,760.40 in 2020[33]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, which was ¥24,990,447.52 in 2021, down 20.94% from ¥32,242,676.17 in 2020[28]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.11 RMB per 10 shares to all shareholders, based on a total of 1,062,829,843 shares[6]. - The company did not propose a cash dividend distribution plan despite having positive profits available for distribution to shareholders[194]. - The company distributed cash dividends totaling RMB 16,704,329.84 during the reporting period[193]. Risk Management - The company emphasizes the importance of recognizing various investment risks, including interest rate risk, liquidity risk, and credit risk[6]. - The company has a comprehensive risk management strategy to address operational and financial risks[6]. - The company is addressing supply chain risks due to material shortages and rapid product iteration in the touch display market[132]. Market and Industry Trends - The optical industry continues to grow, driven by advancements in smartphone camera technology and the increasing adoption of automotive advanced driver-assistance systems (ADAS)[37]. - The penetration rate of electric vehicles in China reached 13.4% in 2021, with global penetration expected to exceed 10% in 2022, indicating a rapid development phase for automotive electrification[38]. - In 2021, the VR technology market saw a revival in demand, with AR being prioritized in national planning, suggesting significant growth opportunities for optical businesses[39]. - The touch display industry is expanding into various sectors, including retail, healthcare, and education, driven by the rise of remote work and online education due to the pandemic[40]. Business Operations and Strategy - The company operates multiple subsidiaries, including Jiangxi Lianchuang Electronics and Chongqing Liangjiang Lianchuang Electronics, enhancing its market presence[15]. - The company has not reported any changes in its main business since February 2016, focusing on the research, production, and sales of touch display products and optical components[23]. - The company has undergone several changes in its controlling shareholders, with the latest change occurring on November 3, 2021, when the controlling shareholder became Jiangxi Xinseng Investment Co., Ltd.[23]. - The company plans to invest in a project to produce 24 million automotive optical lenses and 6 million imaging modules annually by 2025 to meet growing market demand[44]. - The company is expanding partnerships with international automotive electronics manufacturers, increasing market share for automotive lenses in companies like Valeo and Continental[45]. - The company continues to supply major smartphone ODM clients and is diversifying its product offerings beyond mobile phones to meet innovation demands in various smart terminal markets[45]. Research and Development - The company has received 202 patent authorizations as of the end of 2021, including 138 invention patents, reflecting its commitment to continuous R&D innovation[48]. - Research and development expenses increased by 57.27% to ¥387,481,316.15 due to intensified investment in new product and technology development[73]. - The number of R&D personnel increased by 9.95% to 1,216, indicating a focus on enhancing innovation capabilities[81]. - R&D investment increased significantly to ¥988,642,194.48 in 2021, up 161.48% from ¥378,090,349.98 in 2020, representing 9.36% of total revenue[84]. Corporate Governance - The company has a governance structure that includes a board of directors with 9 members, ensuring compliance with legal requirements and promoting effective decision-making[140]. - The company maintains independence from its controlling shareholder, ensuring that major decisions are made by the shareholders' meeting without undue influence[141]. - The company has established a comprehensive investor relations management system to facilitate communication and address investor inquiries effectively[143]. - The company has established an independent and complete asset and business system, ensuring no reliance on the controlling shareholder for procurement and sales[146]. Employee Management - The company has implemented a restricted stock incentive plan in 2021, granting 15.2475 million shares to 318 individuals to enhance internal motivation[54]. - The company has established a performance evaluation and incentive mechanism, including a restricted stock incentive plan for 2021, to enhance employee motivation and align interests[142]. - The total number of employees at the end of the reporting period was 8,410, with 388 in the parent company and 8,022 in major subsidiaries[190]. - Employee training programs were emphasized, with a focus on professional and management skills development[196]. Future Outlook - The company aims to achieve a revenue target of 11.5 billion yuan in 2022, with a focus on steady growth in revenue and profit[125]. - The company plans to enhance its market share in the automotive lens and imaging module market, aiming for rapid expansion[125]. - The company anticipates continued growth in its market segments, supported by its strategic initiatives and product innovations[158].