TQM(SZ:002510)2022-04-21 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB in 2021, representing a growth of 15% compared to the previous year[15]. - The net profit for the year was recorded at 150 million RMB, which is an increase of 20% year-on-year[15]. - The company's operating revenue for 2021 was ¥1,879,042,866.70, representing a 39.62% increase compared to ¥1,345,852,020.96 in 2020[21]. - The net profit attributable to shareholders was -¥211,888,430.90, an improvement of 74.31% from -¥824,755,360.89 in the previous year[21]. - The company reported a total of ¥43,590,396.79 in non-recurring gains and losses for 2021, compared to -¥63,121,481.65 in 2020[26]. - The company reported a net loss of CNY 211.89 million, which is a 74.31% reduction in loss compared to the previous year[41]. - The company reported a total revenue of 2,404.95 million for the year 2021, with a market price of 2,404.95 million for related transactions[156]. - The company reported a total revenue of 5,492 million RMB for the year 2021[168]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces in 2022, aiming for a 10% increase in market share[15]. - Future guidance indicates an expected revenue growth of 12% for 2022, driven by new product launches[15]. - The company aims to capitalize on the historical opportunity of accelerated domestic automobile self-development and the global shift of automobile mold procurement to China[84]. - The company aims to become a leading global automotive mold industry group by optimizing product structure and expanding both domestic and international market shares[85]. - The company plans to continue expanding its market presence and improving cost efficiency to mitigate adverse impacts from external factors[40]. Research and Development - Research and development expenses increased by 25% to 100 million RMB, focusing on new automotive mold technologies[15]. - The company has developed 211 patents, including 185 utility model patents and 26 invention patents, enhancing its technological capabilities[38]. - The company's R&D investment amounted to ¥67,975,427.03, representing 3.62% of total revenue, a decrease of 1.46% from the previous year[54]. - The number of R&D personnel increased by 1.81% to 843, accounting for 29.02% of the total workforce[54]. Financial Management - The company has no plans to distribute cash dividends or issue bonus shares for the year[6]. - The total cash inflow from operating activities was ¥1,990,977,964.67, an increase of 13.24% year-on-year, while cash outflow was ¥1,826,833,407.62, up 17.06%[55]. - The net cash flow from operating activities decreased by 16.91% to ¥164,144,557.05 compared to the previous year[55]. - The net cash flow from investment activities surged by 2,552.45% to ¥381,642,519.42, primarily due to proceeds from equity transfers and investment income from associates[55]. - The net cash flow from financing activities was -¥734,221,823.74, a significant decrease of 1,033.81% year-on-year, attributed to a substantial reduction in interest-bearing debt[56]. Production and Operations - The company specializes in the research, design, production, and sales of automotive body covering molds and related products, which are critical for mass production in the automotive industry[30]. - The company has enhanced its capability to produce a full set of body molds for mid-range cars and some for high-end cars, achieving international advanced levels in product quality[31]. - The company produced 33,536,623 stamping parts in 2021, a year-on-year increase of 12.35% compared to 29,850,563 in the previous year[34]. - The sales volume of stamping parts reached 30,556,340, reflecting a slight increase of 1.14% from 30,210,647 in the previous year[34]. - The production of sedan models surged by 57.39%, with 15,204,877 units produced compared to 9,660,659 units in the previous year[34]. Risks and Challenges - The company is facing risks related to economic cycles affecting the automotive mold industry, with potential impacts on revenue stability[5]. - The automotive mold market is becoming increasingly competitive, with approximately 300 manufacturers in China, necessitating timely product development and quality improvements to maintain market share[86]. - The company has a significant amount of accounts receivable, primarily from reputable automotive manufacturers, but faces potential risks if the industry downturn affects these clients[87]. - The company is increasing its export business, which could be impacted by fluctuations in foreign exchange rates, particularly with transactions primarily in USD and EUR[87]. - The company may face challenges in attracting high-level professionals amid increasing competition for talent[88]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations while protecting shareholder rights[93]. - The company emphasizes the importance of investor relations management, establishing a dedicated "Investor Relations" section on its website and an "Interactive Platform" for communication[95]. - The company adheres to information disclosure obligations as per relevant regulations, ensuring timely and accurate information dissemination to all shareholders[95]. - The company maintains complete independence in business operations, assets, personnel, and finances, with no reliance on shareholders for product sales or raw material procurement[97]. - The company has established a comprehensive internal control system to mitigate operational risks and enhance management efficiency[132]. Employee and Social Responsibility - The company actively protects employee rights by signing labor contracts with all employees and providing comprehensive social insurance[140]. - The company has not reported any major social safety issues or environmental violations during the reporting period[141]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[145]. Related Party Transactions - The company reported a significant related party transaction involving procurement and labor services, with transaction amounts of 74.68 million and 54.72 million yuan respectively, both at market prices[154]. - The company has a 47.08% stake in Hunan Tianqi Automotive Mold Co., Ltd., which is involved in related party transactions for labor services, with a transaction amount of 250.45 million yuan at market price[155]. - The company is engaged in related party transactions with non-related parties for technical services, with a transaction amount of 100.88 million yuan at market price[155]. - The company is focused on expanding its market presence and enhancing its technical service offerings[156]. Shareholder Information - The total number of shareholders at the end of the reporting period is 82,367, an increase from 76,645 at the end of the previous month[190]. - The company’s shareholding structure showed that 97.90% of shares were unrestricted, totaling 931,317,168 shares[182]. - The company has a total of 19,992,303 restricted shares, with 82,852 shares added during the reporting period[185].