JHCC(002484)2022-03-24 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,549,683,268.85, representing a 34.71% increase compared to CNY 2,635,045,312.40 in 2020[28]. - The net profit attributable to shareholders for 2021 was CNY 434,923,029.42, which is a 16.66% increase from CNY 372,810,676.22 in 2020[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 411,804,129.16, up 42.06% from CNY 289,876,258.44 in 2020[28]. - The basic earnings per share for 2021 was CNY 0.5266, reflecting a 15.58% increase from CNY 0.4556 in 2020[28]. - The company reported a net cash flow from operating activities of CNY 310,825,301.16, an increase of 8.63% from CNY 286,134,268.62 in 2020[28]. - The weighted average return on net assets for 2021 was 10.61%, up from 10.19% in 2020[28]. - Quarterly revenue for Q4 reached ¥966,890,061.04, with a total annual revenue growth driven by strong demand in the passive components industry[34]. - Net profit attributable to shareholders for Q4 was ¥108,551,755.29, with a total of ¥425,022,129.42 for the year, indicating stable profitability despite cost pressures[34]. Research and Development - The company is increasing its R&D and production of core materials to counteract rising raw material costs and shipping expenses[5]. - A total of 70 patents were authorized in 2021, including 22 invention patents, showcasing the company's commitment to innovation[52]. - The company has invested in R&D, establishing a national postdoctoral research station and a provincial engineering technology research center, enhancing its technological innovation capabilities[60]. - The company plans to enhance product technology performance and engineering capabilities through ongoing R&D projects[74]. - Nantong Jianghai Capacitor Co., Ltd. is focusing on research and development of new capacitor technologies to meet increasing market demands[156]. - The company has allocated a budget of 50 million CNY for R&D in the next year to innovate and improve existing products[156]. Market Strategy - The company plans to increase the export of high-tech new products (MLPC, LIC, solid-liquid hybrid) to mitigate the impact of U.S. tariffs[5]. - The company aims to expand its domestic sales while leveraging its production base in Japan to avoid U.S. tariffs[5]. - The company has established a strong global marketing network, leading to long-term partnerships with numerous well-known domestic and international brands[60]. - The company aims to optimize its product structure and collaborate with electrode foil manufacturers to mitigate the impact of rising costs and supply challenges[50]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the electronics sector[156]. Financial Position and Investments - Total assets increased to ¥5,572,767,242.65, up 7.91% from ¥5,164,324,387.22[31]. - Net assets attributable to shareholders rose to ¥4,300,667,915.38, reflecting a 10.29% increase from ¥3,899,345,496.69[31]. - The company reported a significant asset impairment loss of ¥5,783,009.84, which accounted for -1.15% of total profit[82]. - The total committed investment for the supercapacitor industrialization project is CNY 80 million, with an investment progress of 73.37% as of the end of the reporting period[97]. - The high-voltage large-capacity film capacitor expansion project has a total committed investment of CNY 40 million, with an investment progress of 50.15%[97]. - The company has achieved a revenue growth in supercapacitors, particularly lithium-ion supercapacitors, with applications in vehicles, medical instruments, and new energy sectors[106]. Governance and Management - The company maintains a strong governance structure, ensuring compliance with relevant laws and regulations, with no major accounting errors reported during the period[115]. - The company operates independently from its controlling shareholders, with a complete and independent business system in place[116]. - Financial independence is emphasized, with a dedicated finance department and independent accounting practices established[119]. - The company has implemented a KPI performance evaluation system to enhance management efficiency and accountability[115]. - The company has established a robust internal control system, covering various aspects of financial management and compliance[119]. Employee and Shareholder Information - The total number of employees at the end of the reporting period is 3,868, with 1,257 in the parent company and 2,611 in major subsidiaries[173]. - The professional composition includes 2,559 production personnel, 166 sales personnel, 644 technical personnel, 67 financial personnel, 281 administrative personnel, and 151 others[176]. - The company reported a net profit attributable to shareholders of RMB 434,923,029.42 for the year 2021, with a total distributable profit of RMB 1,602,798,586.97[183]. - The cash dividend distribution plan proposes a cash dividend of RMB 1.20 per 10 shares (before tax), amounting to a total cash dividend of RMB 99,650,512.32[183]. - The company has not proposed any stock dividends for the reporting period, maintaining a focus on cash dividends[183]. Future Outlook - Future guidance suggests a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[156]. - The company aims to maintain a faster growth rate over the next three to five years, positioning itself as a key player in the global industry[106]. - Major expansion projects are planned over the next three years, aimed at increasing production capacity significantly[112].