HL CORP(SZ:002105)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,634,187,767.13, representing a 41.07% increase compared to CNY 1,867,328,488.38 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 272,525,892.20, a 64.99% increase from CNY 165,176,203.92 in 2020[19]. - The net profit after deducting non-recurring gains and losses was CNY 246,679,804.45, up 84.95% from CNY 133,376,158.01 in 2020[19]. - The basic earnings per share for 2021 was CNY 0.7480, a 65.85% increase from CNY 0.4510 in 2020[19]. - The total assets at the end of 2021 were CNY 2,282,516,393.71, a 24.40% increase from CNY 1,834,878,332.28 at the end of 2020[19]. - The weighted average return on equity for 2021 was 36.08%, an increase of 9.36% compared to 26.72% in 2020[19]. - The net cash flow from operating activities for 2021 was CNY 225,894,732.12, a decrease of 8.06% from CNY 245,710,000.64 in 2020[19]. - The company's total revenue for the year was approximately ¥2.61 billion, with a quarterly breakdown of ¥585.54 million, ¥684.72 million, ¥642.19 million, and ¥721.73 million respectively[23]. - The net profit attributable to shareholders for the year was approximately ¥272.5 million, with quarterly figures of ¥59.40 million, ¥65.70 million, ¥77.61 million, and ¥69.81 million[23]. - The company reported a total of ¥25.85 million in non-recurring gains for the year, with significant contributions from the reversal of previously accrued legal fees[25]. - The company reported a total revenue of 1.2 billion in 2021, representing a year-over-year growth of 15%[176]. Market Trends - The global electric bicycle market is projected to reach 40 million units in sales and approximately $20 billion in revenue by 2023, with expectations to exceed $120 billion by 2030[35]. - In the U.S. market, bicycle imports reached $1.96 billion in 2021, a 40% increase year-over-year, with electric bicycle imports growing by 70% to 790,000 units[35]. - The European market saw over 22 million bicycles sold in 2021, with electric bicycles accounting for over 4.5 million units and generating sales of €10.6 billion[36]. - The domestic bicycle industry reported a production increase of 9.7% in traditional bicycles and 19.5% in electric bicycles during the first eight months of 2021[36]. - In 2021, the domestic two-wheeled electric vehicle sales reached 49.75 million units, a year-on-year increase of 4.5% compared to 47.6 million units in 2020[38]. - The electric scooter market is projected to grow at a compound annual growth rate (CAGR) of 7.6%, with an estimated increase of 30.5 million units annually, primarily driven by demand in Europe and North America[46]. - The electric scooter market is expected to face challenges due to insufficient infrastructure in major cities, but government initiatives are promoting the use of micro-mobility options[40]. - The pandemic has shifted consumer preferences towards electric scooters, with a notable increase in first-time users in North America, doubling the proportion of new users[41]. - The electric bicycle market is projected to grow significantly, with an expected increase in sales from 3 million units in 2019 to 17 million units by 2030, driven by health trends and government investments in cycling infrastructure[97]. Company Strategy and Operations - The company plans to distribute a cash dividend of CNY 2.50 per 10 shares, based on a total of 364,498,900 shares[5]. - The company has not reported any changes in its major business operations since its listing[18]. - The company does not have any significant uncertainties regarding its ability to continue as a going concern[20]. - The company aims to enhance its global market share in bicycle components while developing its own brand products to increase revenue from fitness and rehabilitation equipment[110]. - The company plans to strengthen its brand image and product quality through strategic alliances with international brands like IBD[111]. - The company is preparing to establish a European warehouse and office to shorten the supply chain and meet European customer demands[114]. - The company is focusing on expanding its electric scooter and sports equipment business, targeting major global markets[115][118]. - The company intends to participate in key exhibitions, including the Shanghai Bicycle Show and Eurobike, to explore market demands and opportunities[116]. - The company is committed to continuous product development to meet new market demands, particularly in the electric scooter segment[118]. Financial Management and Governance - The company has established a governance structure that includes a general meeting of shareholders, a board of directors, and a supervisory board, ensuring effective operational management and rapid response to business needs[141]. - The board of directors consists of 11 members, including 4 independent directors, meeting the legal requirements for board composition[145]. - The company has improved its internal control system and governance awareness among management, leading to enhanced operational transparency and compliance with regulatory requirements[142]. - The company maintains complete independence from its controlling shareholder in terms of business operations, personnel, assets, and finances, with no non-operational related transactions[144]. - The company has established independent systems for personnel management, attendance, compensation, and appointments[153]. - The company has a well-defined organizational structure with independent operational management, ensuring no interference from major shareholders in its normal business activities[154]. - The company has implemented a sales collection cycle management method to enhance its market-facing capabilities[155]. - The company has a mature development stage and plans to maintain a minimum cash dividend ratio of 40% during profit distribution[200]. Employee and Management Information - The company reported a total of 35,900 employees as of the end of the reporting period[159]. - The total number of employees at the end of the reporting period was 2,948, including 2,198 at the parent company and 750 at major subsidiaries[192]. - The company has established a comprehensive training program for employees at various levels to enhance skills and management efficiency[194]. - The company maintains a strict performance evaluation and incentive mechanism to attract and retain talent[195]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to CNY 1,354.3 million[180]. - The chairman, Liao Xuejin, received a total remuneration of CNY 393.15 million[181]. - The general manager, Liao Xuehu, received a total remuneration of CNY 455.39 million[181]. - The company’s independent directors expressed that the remuneration for 2021 was reasonable and aligned with performance[179]. Legal and Compliance Matters - The company has resolved one of the two lawsuits in the U.S. and aims to reach a settlement for the second case[133]. - The company is monitoring the impact of ongoing legal matters on its financial performance, asserting that they will not affect overall results[135]. - The company has scheduled production orders up to the third quarter of 2022, indicating potential for further order increases[134]. - The company has completed two rounds of price adjustments for raw materials by August 2021, with a third round currently in progress due to rising raw material costs[137].