HYM(SZ:002529)2022-04-25 16:00Business Focus and Strategy - The company reported a significant shift in its main business focus from hydraulic forming equipment to the research, production, and sales of lightweight composite materials and new intelligent machinery[19]. - The company is focusing on expanding into the photovoltaic component sector, which aligns with national policies promoting the development of new energy vehicles[30]. - The company is focusing on expanding its composite materials business amid challenges such as chip shortages and rising raw material prices[95]. - The company aims to enhance its core competitiveness by focusing on lightweight automotive components and expanding applications in the new energy vehicle sector[102]. - The company is strategically expanding into the photovoltaic industry while managing risks associated with different business models and operational management[109]. Financial Performance - The company's operating revenue for 2021 was ¥253,937,977.12, a decrease of 15.44% compared to ¥300,313,663.58 in 2020[21]. - The net profit attributable to shareholders was -¥109,459,741.98, representing a decline of 433.04% from a profit of ¥32,866,859.13 in 2020[21]. - The total assets at the end of 2021 were ¥1,057,620,700.48, down 14.31% from ¥1,234,298,860.43 at the end of 2020[21]. - The company's total revenue for 2021 was approximately ¥253.94 million, a decrease of 15.44% compared to ¥300.31 million in 2020[54]. - The revenue from composite materials business increased by 21.33% to ¥143.45 million, accounting for 56.49% of total revenue[54]. Cash Flow and Investments - The net cash flow from operating activities was -¥5,825,021.19, a significant drop of 103.77% from ¥154,357,216.73 in 2020[21]. - The net cash flow from investing activities decreased by 99.74%, as there were no cash inflows from the disposal of properties and land assets this year[71]. - The net cash flow from financing activities increased by 84.23%, mainly due to a decrease in cash used for repaying bank loans and other debts[71]. - The company's cash and cash equivalents decreased by 175.28%, indicating significant cash outflows during the reporting period[70]. Research and Development - Research and development expenses amounted to ¥19,052,677.91, a decrease of 8.06% from ¥20,722,617.18 in 2020, representing 7.50% of total revenue[67]. - The company plans to invest in research and development to strengthen its technological capabilities and improve product efficiency and adaptability[104]. - The number of R&D personnel increased by 10% to 55, while the proportion of R&D personnel to total employees decreased to 8.38%[67]. Market and Industry Trends - The automotive industry in China saw a slight growth in production and sales, with a 3.4% increase in production and a 3.8% increase in sales in 2021[31]. - In 2021, the Chinese automotive market saw over 3.5 million sales of new energy vehicles, with a market share increase to 13.4%[95]. - The market size of China's new energy vehicle sector reached 600 billion yuan in 2021, reflecting a year-on-year growth of 76.5%[95]. Corporate Governance and Compliance - The company maintains complete independence from its controlling shareholder in terms of assets, personnel, finance, organization, and business operations[127]. - The company has established a comprehensive performance evaluation mechanism linking senior management compensation to operational performance indicators[122]. - The company has independent procurement, production, and sales systems, ensuring no significant reliance on any single or few entities[132]. - The company adheres to strict information disclosure obligations, ensuring timely and accurate reporting to shareholders[124]. Risk Management - The company has established a comprehensive risk disclosure in its annual report, detailing potential risks faced in future operations[4]. - The company is closely monitoring policy changes related to clean energy and will adjust its business development plans accordingly to mitigate potential impacts[110]. - The company recognizes the ongoing risk of COVID-19 and is taking measures to strengthen its domestic market presence to counteract potential overseas demand fluctuations[111]. Future Outlook and Plans - The company plans to enhance product competitiveness through the development of new products in the press and complete line equipment sector[65]. - The company has set a revenue guidance for 2022, projecting an increase of 25% to 1.875 billion RMB[136]. - The company plans to change its name and registered address to better align with strategic development needs and utilize local resources[164]. Shareholder Relations and Dividends - The company plans to enhance market research and adjust operational strategies to adapt to macroeconomic changes and uncertainties caused by the COVID-19 pandemic[106]. - The company plans to communicate with shareholders, especially minority shareholders, regarding cash dividend proposals[195]. - The company is committed to distributing profits in a manner that aligns with shareholder interests and company performance[195].