TRUCHUM(SZ:002171)2022-04-14 16:00Financial Performance - The company achieved a revenue of CNY 37.35 billion in 2021, representing a year-on-year growth of 62.57%[83]. - The company's net profit attributable to the parent company reached CNY 567 million, a significant increase of 106.78% year-on-year[84]. - The company's operating revenue for 2021 was ¥37,349,605,251.70, representing a 62.57% increase compared to ¥22,974,092,037.13 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥567,090,000.01, a 106.78% increase from ¥274,243,262.86 in 2020[28]. - The net profit after deducting non-recurring gains and losses was ¥384,158,140.43, up 70.14% from ¥225,791,860.94 in 2020[28]. - The total assets at the end of 2021 were ¥13,262,477,708.03, an increase of 17.94% from ¥11,245,466,892.13 at the end of 2020[28]. - The net assets attributable to shareholders at the end of 2021 were ¥6,166,265,640.85, a 7.20% increase from ¥5,751,889,357.00 at the end of 2020[28]. - The company reported a basic earnings per share of ¥0.43 for 2021, which is a 104.76% increase from ¥0.21 in 2020[28]. - The company experienced a net cash flow from operating activities of -¥125,333,605.22 in 2021, an improvement of 70.07% from -¥418,721,874.15 in 2020[28]. - The company reported a significant increase in foreign sales, which rose by 340.41% to ¥167.96 million[89]. - The gross profit margin slightly decreased to 6.06% due to rising copper prices affecting both sales prices and raw material costs[83]. Investments and Projects - The company is currently constructing several projects, including a 50,000-ton high-precision copper alloy foil project and a 300,000-ton green intelligent manufacturing project, which will enhance product structure and upgrade benefits[54]. - The company has invested CNY 22.30 million in the copper alloy strip product upgrade and intelligent transformation project prior to the arrival of funds from the non-public offering of shares[180]. - The company plans to establish a new subsidiary to manage the "Annual Production of 300,000 Tons of Green Intelligent Manufacturing High-precision Copper-based Materials Project (Phase I)" to accelerate project progress[180]. - The company has committed to a total investment of RMB 60,000 million for the high-precision copper alloy strip project, with RMB 3,621.74 million invested by the end of 2021[174]. - The company has reported a total of 1,518.55 million in excess fundraising, with no decisions made regarding its use as of December 31, 2021[177]. - The company has decided to terminate the "Intelligent Thermal Equipment and Special Composite Materials Industrialization Project" due to a lack of comparative advantage in the strategic layout of military new materials[177]. - The company has undergone strategic mergers and acquisitions to strengthen its position in the military new materials sector, particularly in carbon-carbon composite materials[177]. Research and Development - The company has a strong R&D capability, with a national technology innovation demonstration enterprise status and multiple provincial-level technology centers supporting product development[68]. - The company established several new subsidiaries, including "Anhui Chuangjiang High-Precision Copper Strip Co., Ltd." with an investment of ¥10 million[98]. - The company completed the development of a new medical device product with an annual production capacity of 2,000 tons[128]. - The company has established multiple R&D platforms, including a national postdoctoral research station and a provincial key laboratory, enhancing its innovation capabilities[77]. - The company’s core team consists of nearly 100 technical R&D personnel, including 2 academicians, with extensive experience in metallurgy and materials science[76]. - The company is focusing on the industrial application of new products, which is expected to reduce material waste and increase sales revenue[107]. - The company has developed several new copper conductor products, including wind energy grounding cables and high-frequency data signal transmission cables, aimed at enhancing industry competitiveness[107]. Market Position and Competitive Advantage - The company ranked first among China's top ten copper strip manufacturers, with an annual production of high-precision copper alloy strip reaching 300,000 tons in 2021[38]. - The company is the only domestic producer of carbon brake preforms for the C919 aircraft, establishing a monopoly in this segment[45]. - The company has received multiple awards for its innovative technologies in the recycling and utilization of copper materials[39]. - The company is positioned to benefit from the growing aerospace sector, with plans for significant expansion in carbon fiber applications[45]. - The company has a leading position in the intelligent thermal equipment industry, with its products outperforming domestic competitors in temperature control capabilities and automation levels[50]. - The company aims to enhance its high-value product ratio and profitability through strategic adjustments in the copper conductor industry[189]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding future development plans and projections[6]. - The company has established a comprehensive risk control system for its derivative investments, effectively managing market, liquidity, credit, and operational risks[165]. - The company has not made any significant changes to its accounting policies regarding derivative investments compared to the previous reporting period[165]. - The company plans to continue utilizing futures market hedging to mitigate losses from price fluctuations in its operations[165]. Subsidiaries and Contributions - The company reported significant contributions from its subsidiaries, with Qingyuan Chujian Copper Industry Co., Ltd. generating a net profit of approximately ¥94.28 million, accounting for over 10% of the company's net profit[198]. - Wuhu Chujian Hejin Copper Materials Co., Ltd. achieved a net profit of approximately ¥71.99 million, also contributing significantly to the overall profitability of the company[198]. - Anhui Chujian High-tech Electric Materials Co., Ltd. reported a net loss of approximately ¥129.60 million, indicating challenges in its operations[198]. - The total assets of Qingyuan Chujian Copper Industry Co., Ltd. were reported at approximately ¥1.51 billion, reflecting a strong asset base[198]. - The company is focused on expanding its new material technology research and development through subsidiaries like Hunan Dingli Technology Co., Ltd., which reported a revenue of approximately ¥313.78 million[198]. Corporate Governance and Transparency - The company’s financial report has been confirmed as true, accurate, and complete by its board of directors and management[5]. - The company has a dedicated board secretary and securities representative for investor relations[20]. - The company’s annual report is available on the Shenzhen Stock Exchange and other designated media[23]. - The company has established tripartite (or quadripartite) supervision agreements for the management of raised funds, ensuring compliance with regulations[171].