WMM(SZ:002149)2022-07-28 16:00Financial Performance - The company reported a total revenue of 488,214,274 RMB for the year 2021, with a cash dividend of 1.00 RMB per 10 shares distributed to all shareholders [8]. - The company's operating revenue for 2021 was ¥2,394,570,076.87, representing an 18.00% increase compared to ¥2,029,344,039.81 in 2020 [28]. - The net profit attributable to shareholders for 2021 was ¥133,051,503.11, a significant increase of 67.55% from ¥79,408,077.48 in 2020 [28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥104,650,716.31, up 141.21% from ¥43,385,888.97 in 2020 [28]. - The company's total assets at the end of 2021 were ¥5,764,755,587.73, a 3.14% increase from ¥5,589,338,784.49 at the end of 2020 [28]. - The basic earnings per share for 2021 was ¥0.2725, reflecting a 45.96% increase from ¥0.1867 in 2020 [28]. - The company reported a net cash flow from operating activities of -¥4,447,002.01, an improvement of 98.34% compared to -¥267,307,534.13 in 2020 [28]. - The total operating revenue for the company in 2021 was ¥2,394,570,076.87, representing an 18.00% increase from ¥2,029,344,039.81 in 2020 [66]. - The total revenue from the top five customers was ¥438,651,646.13, accounting for 18.32% of the annual sales [75]. - The total procurement amount from the top five suppliers was ¥525,271,112.41, representing 23.63% of the annual procurement [78]. Subsidiaries and Corporate Structure - The company has a total of 15 subsidiaries, including Western Titanium Industry Co., Ltd. and Xi'an Tianli Metal Composite Materials Co., Ltd. [17]. - The company is under the control of Shaanxi Provincial Finance Department, with Northwest Institute of Nonferrous Metal Research as the controlling shareholder [17]. - The company successfully listed its subsidiaries on the New Third Board, enhancing corporate governance and shareholder returns [54]. - The company acquired a 20% stake in Taijin Company for 19.2 million yuan and participated in its capital increase [54]. Research and Development - Research and development expenses totaled 120 million yuan, accounting for 5.03% of the total revenue [53]. - The company has been awarded 513 patents and has established 25 technology innovation platforms, enhancing its core competitiveness [59]. - The company aims to enhance its core competitiveness by focusing on high-end, differentiated development in various sectors, including aerospace and nuclear power [45]. - The company is enhancing its R&D capabilities by accelerating the manufacturing, installation, and debugging of key laboratory equipment such as vacuum shell furnaces and ultrasonic precision spraying machines [130]. - The company plans to optimize its R&D system and increase investment in R&D, addressing disparities in R&D capabilities across units [123]. Market and Industry Trends - The rare metals industry is experiencing new demand and market opportunities due to the transition to high-quality economic development and carbon neutrality goals [43]. - The company aims to enhance its market presence in the environmental protection sector, leveraging the growing demand for metal filter bags and advanced technologies for dust removal [120]. - The company has achieved stable mass production of multi-specification titanium alloy plates for aerospace applications, expanding its market share in the military sector [44]. - Sales revenue in the aerospace sector amounted to 730 million yuan, reflecting a year-on-year increase of 35% [51]. - The company reported a significant increase in military product orders, with a notable rise in market share and profits in the military sector [119]. Financial Management and Investments - The company has committed to a high-performance metal composite material production line project with a total investment of ¥28,000 million, achieving 100% investment progress [102]. - The company reported a total investment of 168,599.38 million yuan in committed projects, with an actual investment of 141,099.38 million yuan, achieving a progress rate of 83.67% [105]. - The company plans to use 4 billion yuan of idle raised funds to temporarily supplement working capital, with 1.9 billion yuan already returned by the end of 2021 [108]. - The company has adjusted the scale of some fundraising projects and will permanently supplement working capital with the remaining raised funds [106]. - The company confirmed that the investment income from equity method accounting for affiliated companies is sustainable [88]. Management and Governance - The company has a diverse board with members holding various professional backgrounds and experiences [154]. - The company has maintained a stable management team with no new appointments or dismissals reported [152]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to 5.54 million yuan, including independent directors' allowances of 60,000 yuan per person per year [174]. - The company’s financial officer, Liu Yong, received a total remuneration of 737,000 yuan in 2021 [175]. - The company’s vice general manager, Zheng Xuejun, received a total remuneration of 821,000 yuan in 2021 [175]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 1,688, with 1,016 in production, 77 in sales, 460 in technology, 47 in finance, and 88 in administration [193]. - The company conducted training programs in 2021 to enhance employee skills and business capabilities, expanding partnerships with various universities [195]. - The company has established a talent selection and retention mechanism to attract and retain high-end R&D talent [194]. - The company has a total of 637 employees with a bachelor's degree or above, and 677 with a college diploma [193]. Future Outlook - The company expects a revenue growth of 20% for the next fiscal year, projecting revenues to reach approximately 1.44 billion RMB [162]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years [162]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 30% [162]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain [162]. - The company plans to reduce the investment amount for the domestic nuclear power core material project from 35,000 million to 13,814.94 million, reallocating the remaining funds to supplement working capital [113].