STEP(SZ:002527)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was CNY 4,264,212,601.38, representing a 7.76% increase compared to CNY 3,957,063,457.75 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 150,174,815.19, a significant increase of 73.02% from CNY 86,797,716.53 in 2020[17]. - The net profit after deducting non-recurring gains and losses reached CNY 100,850,981.97, marking a 270.16% increase from CNY 27,245,079.54 in 2020[17]. - The company's total assets at the end of 2021 were CNY 6,457,303,019.95, up 6.48% from CNY 6,064,217,864.43 at the end of 2020[17]. - The basic earnings per share for 2021 was CNY 0.24, reflecting a 71.43% increase from CNY 0.14 in 2020[17]. - The net cash flow from operating activities decreased by 39.28% to CNY 166,498,257.69 from CNY 274,202,099.49 in 2020[17]. - The weighted average return on equity for 2021 was 5.37%, an increase from 3.22% in 2020[17]. - The company reported a total of CNY 60,115,792.87 in government subsidies related to its normal business operations for 2021[22]. Market Expansion and Product Development - The company is actively pursuing market expansion strategies, including the development of new technologies and products in the robotics and motion control sectors[12]. - The company aims to enhance its smart manufacturing capabilities in line with national policies and technological advancements, targeting significant digital transformation by 2025[27]. - The company is committed to enhancing its product development quality and reducing manufacturing cycles through modular design and flexible manufacturing technologies[11]. - The company aims to leverage virtual reality (VR) technology in its product development processes to create innovative solutions for its customers[11]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and expand its product offerings[12]. - The company has established partnerships with various technology firms to enhance its research and development capabilities in smart manufacturing[12]. - The company is focused on developing smart manufacturing solutions and enhancing its electric control systems to become a leading brand in elevator control systems[124]. - The company is in the development phase for a new generation escalator control cabinet aimed at enhancing product performance and market share[80]. Research and Development - The company has received 730 national patents, including 242 invention patents and 266 software copyrights, as of December 31, 2021[49]. - The company has established R&D centers in Shanghai, Shenzhen, Hangzhou, Germany, and Japan to support its innovation efforts[49]. - The company has launched a new high-end elevator drive system that meets EN81-20/50 EMC requirements, enhancing its competitive edge in the elevator market[82]. - The R&D expenditure for new product development increased by 25% year-over-year, totaling 300 million RMB[171]. - The company is exploring partnerships with tech firms to integrate AI solutions into its product offerings, aiming for a launch by Q3 next year[181]. Corporate Governance and Management - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[153]. - The company maintains complete independence from its controlling shareholder in business, personnel, assets, and finance[149]. - The company has a governance structure that separates the roles of directors and daily operational management, with directors primarily involved in decision-making and supervision[184]. - The company has implemented a labor contract system with all employees, ensuring independent labor and human resource management[158]. - The company has a clear ownership structure with no instances of fund or asset occupation by controlling shareholders[158]. Challenges and Risks - The company faces risks from economic fluctuations due to the pandemic and international tensions, which may impact market demand for its products[132]. - Supply chain risks are present due to tight supply of key components and rising prices of raw materials like copper and aluminum, prompting the company to strengthen partnerships with strategic suppliers[133]. - Accounts receivable have increased due to business expansion, with risks of delayed collections impacting cash flow; the company plans to implement stricter credit assessments and improve collection processes[137]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[142]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[142]. - The overall outlook for the company remains positive, with a focus on sustainable growth and innovation in the coming years[167]. - Future guidance includes maintaining a focus on sustainable practices, aiming for a 50% reduction in carbon emissions by 2025[143]. Employee and Talent Management - The company has established a comprehensive training and incentive mechanism, with 947 R&D personnel accounting for 37% of the workforce as of December 31, 2021[53]. - The company is committed to improving its human resources mechanisms to stabilize and attract high-end talent through better working conditions and development opportunities[140]. - The total number of employees at the end of the reporting period was 2,556, with 753 in the parent company and 1,803 in major subsidiaries[199].