BOSUN(SZ:002282)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,583,424,920.41, representing a 22.52% increase compared to CNY 1,292,337,965.78 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 226,350,604.35, a significant increase of 70.23% from CNY 132,969,017.40 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.43, up 48.28% from CNY 0.29 in 2020[21]. - The company achieved a consolidated revenue of 1,583.42 million yuan in 2021, representing a year-on-year growth of 22.52%[46]. - The net profit attributable to shareholders reached 226.35 million yuan, marking a 70.23% increase compared to the previous year[46]. - The company reported a net profit of ¥22,970,620.00, with significant impacts from fair value changes and asset depreciation affecting cash flow[83]. - The company reported a net profit of 32,274,582.82 RMB, with a slight decrease of 0.13% in profit margin[89]. - The company achieved a gradual improvement in profitability during the reporting period, with cumulative losses showing signs of recovery[102]. Cash Flow and Assets - The net cash flow from operating activities decreased by 34.89% to CNY 136,453,931.86 in 2021, down from CNY 209,575,775.14 in 2020[21]. - Operating cash inflow totaled ¥1,385,201,293.96, an 18.86% increase from ¥1,165,454,788.83 in 2020, while cash outflow rose by 30.64% to ¥1,248,747,362.10[81]. - The net increase in cash and cash equivalents reached ¥213,454,971.19, a significant rise of 1,487.14% compared to the previous year[82]. - Total assets included cash and cash equivalents of ¥389,394,995.00, representing 10.04% of total assets, and inventory of ¥498,198,857.49, accounting for 12.84%[88]. - The company has significant overseas assets, including investments in the USA, Canada, and Thailand, with a total overseas asset value of ¥366,568,016.07[88]. Business Expansion and Acquisitions - The company has expanded its business scope by acquiring 100% equity of Wenzhou Hawei Locomotive Parts Co., Ltd. in 2020, adding high-speed train brake disc business[19]. - The company completed the acquisition of Haiwei Locomotive in August 2020, enhancing its capabilities in the research, production, and sales of railway brake discs, which are now used in the "Fuxing" standard high-speed trains[36]. - The company has invested CNY 61.31 million in the "Rail Transit Brake Device Material Engineering Laboratory" project, which has established an annual production capacity of 80,000 train brake pads[35]. - The company is exploring potential acquisitions to enhance its capabilities in the rail transit sector, with plans for future growth[152]. Research and Development - The company continues to focus on research and development of diamond tool products, enhancing its competitive edge in the market[19]. - The company is committed to increasing R&D investment to maintain and enhance its market position both domestically and globally[38]. - R&D investment amounted to ¥63,090,619.85 in 2021, a 30.47% increase from ¥48,356,879.07 in 2020, representing 3.98% of operating revenue[79]. - The company has established several engineering research centers and has been involved in drafting national standards for brake components, showcasing its industry leadership[41]. - The company is committed to developing high-end manufacturing and will continue to invest in R&D to maintain its competitive edge in the abrasive tools industry[141]. Market and Competitive Position - The diamond tools segment is expected to benefit from increasing industry concentration and demand related to infrastructure investment[31]. - The company has established itself as a leading player in the diamond tool industry in China, with a significant global sales network covering North America, Europe, Southeast Asia, the Middle East, and North Africa[34]. - The company has a strong dealer network across the country, which significantly contributes to sales growth in its abrasive products[142]. - The company is focusing on cost management by optimizing raw material procurement and production processes to maintain profitability amid external market challenges[146]. Risks and Challenges - The company has faced risks related to anti-dumping investigations on diamond saw blades and components originating from China and South Korea[12]. - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated in the audit report[22]. - The company faces risks from raw material price fluctuations, which account for over 60% of total product costs, potentially impacting profitability[139]. - The company is actively managing risks associated with management integration and operational complexities following recent mergers[138]. Governance and Management - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance[165]. - The company has established an independent financial department with dedicated personnel, ensuring no shared accounts with major shareholders[167]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[160]. - The company has a performance evaluation and incentive mechanism linking managerial compensation to company performance[162]. - The company ensures timely and accurate information disclosure, adhering to relevant laws and regulations[164]. Dividend Distribution - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares, amounting to 81,591,654.60 CNY, which represents 100% of the distributable profit[198]. - The total number of shares for the dividend distribution is 543,944,364 shares[198].