CTFO(SZ:002373)2022-03-29 16:00Financial Performance - The company reported a total revenue of RMB 1,570,188,160 for the year 2021, with no cash dividends or stock bonuses distributed to shareholders [5]. - The company's operating revenue for 2021 was ¥10,281,096,020.39, representing a 9.15% increase from ¥9,418,895,592.43 in 2020 [30]. - The net profit attributable to shareholders for 2021 was ¥724,019,294.34, a decrease of 33.01% compared to ¥1,080,858,196.93 in 2020 [30]. - The net profit after deducting non-recurring gains and losses was ¥630,602,729.05, down 19.70% from ¥785,334,738.61 in the previous year [30]. - The basic earnings per share for 2021 was ¥0.46, a decline of 36.11% from ¥0.72 in 2020 [30]. - The total assets at the end of 2021 were ¥19,679,398,469.64, an increase of 1.52% from ¥19,383,886,359.48 at the end of 2020 [33]. - The net assets attributable to shareholders at the end of 2021 were ¥12,444,656,697.19, up 4.04% from ¥11,961,363,890.58 at the end of 2020 [33]. - The cash flow from operating activities for 2021 was ¥241,525,863.67, a significant decrease of 81.59% from ¥1,311,667,953.39 in 2020 [30]. - The diluted earnings per share for 2021 was ¥0.46, down 35.21% from ¥0.71 in 2020 [33]. - The weighted average return on equity for 2021 was 5.97%, a decrease of 4.54% from 10.51% in 2020 [33]. Market Strategy and Outlook - The management discussed the future outlook, indicating a focus on expanding market presence and enhancing product offerings in smart transportation technology [5]. - The company has a comprehensive strategy for market expansion, particularly in the field of intelligent transportation systems [5]. - The company plans to leverage its subsidiaries to strengthen its market position and drive innovation in the smart transportation sector [5]. - The company is committed to maintaining high standards of corporate governance and social responsibility [5]. - The company emphasizes the integration of new generation information technology in transportation services to improve efficiency and safety [50]. - The company aims to create a digital governance platform for government clients and facilitate digital transformation for enterprise clients, showcasing its broad market strategy [59]. - The company is focusing on new product development and technological advancements to stay competitive [200]. Research and Development - The company is actively investing in research and development of new technologies, particularly in AI and IoT integration for smart traffic solutions [5]. - The management highlighted the significance of big data and cloud computing in enhancing operational efficiency and decision-making processes [5]. - The company has launched over 100 AI training algorithms, 200 pre-trained models, and 900 industry algorithms by the end of 2021, demonstrating its commitment to innovation in AI [67]. - The company has implemented a unified "cloud-edge-end" technology architecture, enhancing operational efficiency and reducing development costs across various transportation sectors [72]. - The company has developed a comprehensive traffic cloud solution based on its self-developed aPaaS platform, integrating technologies such as cloud computing and big data to support digital management and intelligent services in the transportation sector [98]. Industry Trends and Growth - The smart transportation industry market size was approximately 228.70 billion in 2020, with a year-on-year growth of 19.2% [51]. - The projected market size for the smart transportation industry is expected to reach approximately 436.70 billion by 2023, with an annual growth rate of 24.1% [53]. - The government policies promoting digital transformation in the transportation sector are expected to drive sustained high growth in the smart transportation industry [47]. - The domestic security industry had a total output value of 851 billion yuan in 2020, indicating steady growth supported by a rich product series and expanding application scenarios [54]. - The scale of China's intelligent manufacturing industry is approximately 3.3 trillion yuan, with AI technology penetration in key industrial sectors averaging less than 9% in 2019, highlighting significant growth potential [55]. Product Development and Innovation - The company has successfully delivered over 6,000 medium to large-scale smart transportation projects, showcasing its leadership in the digital transformation of the transportation industry [56]. - The company has developed over 16,000 hardware product models annually, leveraging its deep understanding of smart transportation and strong supply chain support to rapidly introduce new products [83]. - The company has reduced the development cycle for its traffic radar products to under four months, demonstrating its ability to quickly iterate and deliver new functionalities [82]. - The company’s intelligent IoT product lineup includes video encoders, storage solutions, and various display terminals, continuously expanding its product range to meet diverse market needs [83]. - The company has launched a new generation of smart entry products based on UWB technology, providing centimeter-level positioning and enhanced security features [181]. Acquisitions and Partnerships - The company completed a non-controlling acquisition of Xiamen Pantian and its subsidiaries for ¥203,397,911.00, acquiring a 51% stake [195]. - The identifiable net assets acquired had a fair value of $55,218,494.26 [199]. - The company has formed joint ventures with local transportation groups in various provinces, enhancing customer loyalty and order continuity through localized services [146]. Performance Metrics - The company sold 12,934,422 units in 2021, a 17.42% increase from 11,015,908 units in 2020 [189]. - Revenue from the Intelligent Transportation sector was ¥4,621,322,920.99, accounting for 44.95% of total revenue, with a year-on-year growth of 1.55% [188]. - Revenue from the Smart IoT sector was ¥5,656,175,289.49, making up 55.02% of total revenue, and showing a significant year-on-year increase of 16.19% [188]. - Domestic revenue was ¥8,259,200,222.54, which is 80.33% of total revenue, reflecting a growth of 5.37% year-on-year [188]. - International revenue reached ¥2,021,895,797.85, representing 19.67% of total revenue, with a year-on-year increase of 27.91% [188].