GCS tech(SZ:002453)2022-05-06 16:00Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 20% in the electronic chemicals segment[14]. - The company’s operating revenue for 2021 was ¥3,942,318,263.57, representing a 43.91% increase compared to ¥2,739,390,050.46 in 2020[22]. - The total revenue for 2021 reached ¥3,942,318,263.57, representing a year-on-year increase of 43.91% compared to ¥2,739,390,050.46 in 2020[57]. - The company reported a significant amount of idle raised funds used for cash management, with details provided in the special report[99]. - The company achieved a net profit of RMB 6,200 million for the year 2020, with adjusted commitments for 2021 set at RMB 10,675 million and for 2022 at RMB 12,875 million[199]. Strategic Direction and Market Expansion - The company has a focus on expanding its market presence and developing new products and technologies[5]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[20]. - The company is actively exploring partnerships with international firms to enhance its technological capabilities and market reach[21]. - The company is pursuing market expansion, targeting Southeast Asia as a new growth area, with plans to establish a local office by Q3 2022[135]. - The company plans to continue expanding its market presence and product offerings in the future[87]. Research and Development - Investment in R&D for new products reached RMB 50 million, focusing on advanced chemical materials and pharmaceuticals[21]. - The R&D budget has been increased by 30% to 150 million RMB for 2022, focusing on artificial intelligence and machine learning technologies[135]. - R&D investment amounted to ¥37,023,258.49, a 123.84% increase from the previous year, representing 0.94% of operating income[75]. - The company plans to increase its R&D investment in new products, focusing on two major directions to enhance competitiveness[115]. - The company has established a joint R&D center with Beijing University of Chemical Technology to enhance its technological strength[48]. Corporate Governance and Compliance - Financial reports are guaranteed to be true, accurate, and complete by the company's responsible personnel[4]. - The company is committed to maintaining transparency in its financial disclosures and corporate governance practices[4]. - The company strictly adhered to information disclosure regulations, ensuring timely and accurate communication with investors through designated media[126]. - The company has a robust internal information confidentiality system in place, complying with regulations regarding insider information management[126]. - The company has established an independent personnel management system, ensuring no interference from the controlling shareholder in labor relations[129]. Risk Management - The management team emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The report includes a detailed analysis of potential risks and corresponding mitigation strategies for future development[5]. - The company faced challenges due to the ongoing COVID-19 pandemic and global supply chain disruptions, impacting the chemical industry significantly[32]. - The company is addressing market price fluctuations by optimizing procurement strategies and enhancing production efficiency to stabilize costs and revenues[120]. - Ongoing pandemic risks may affect production and sales, with the company taking measures to mitigate these impacts[119]. Environmental Management - The company has established a comprehensive environmental management system to ensure compliance with local environmental regulations and standards[176]. - The company has implemented a self-monitoring scheme for emissions, including online monitoring for waste gas and wastewater discharge[183]. - The company has developed an emergency response plan for environmental incidents, which was filed with the local ecological environment bureau[182]. - The company has completed two sets of air pollution control facilities, including alkaline spray towers and activated carbon adsorption systems, to manage emissions effectively[175]. - The company has engaged third-party qualified firms for the harmless disposal of hazardous waste to prevent environmental pollution[177]. Financial Independence and Shareholder Relations - The company maintained independence from its controlling shareholder in terms of business operations, personnel, assets, institutions, and finances, with no reliance on the controlling shareholder for market activities[128]. - The controlling shareholder has issued a commitment to not occupy company funds or assets, adhering strictly to legal and regulatory requirements[189]. - The company has committed to fair pricing and market principles in any necessary related transactions, ensuring no harm to shareholder rights[191]. - The company has ensured that any related transactions are conducted under normal commercial terms, without seeking undue advantages[192]. - The company has accepted full legal responsibility for the accuracy and legality of its commitments, agreeing to compensate for any losses incurred due to violations[192]. Employee Management and Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.83 million[146]. - The company has a comprehensive training system for employees, including management training, project manager training, and technical personnel training[158]. - The company has established a salary distribution system based on job value and performance, with specific reward policies for sales, R&D, and management[157]. - The company implemented a performance-based salary system for senior management, combining a base salary and performance salary[164]. - The company’s management compensation is determined based on operational scale and performance, following a comprehensive assessment[144]. Acquisitions and Investments - A strategic acquisition of a chemical manufacturing firm was completed, expected to enhance production capacity by 40%[20]. - The company completed two acquisitions in the last year, enhancing its capabilities in software development and customer service[194]. - The company received 640 million RMB in fundraising from its controlling shareholder, facilitating asset acquisition and capital expansion[54]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for this purpose[140]. - The company has committed to using the shares obtained from the acquisition of Odyssey Chemical for performance compensation, ensuring no pledging of these shares until obligations are fulfilled[199].