Der(SZ:002631)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,033,531,258.28, representing a 29.67% increase compared to CNY 1,568,231,197.98 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 76,138,165.34, a significant turnaround from a loss of CNY 26,975,698.30 in 2020, marking a 382.25% increase[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 37,683,214.13, compared to a loss of CNY 74,819,883.03 in the previous year, reflecting a 150.37% improvement[20]. - The net cash flow from operating activities reached CNY 182,433,270.24, a 524.07% increase from CNY 29,232,935.19 in 2020[20]. - The basic earnings per share for 2021 was CNY 0.1156, a recovery from a loss of CNY 0.0410 per share in 2020, representing a 381.95% increase[20]. - The weighted average return on net assets was 4.22%, up from -1.49% in 2020, indicating a 5.71% improvement[20]. - Total assets increased by 17.15% to CNY 3,993,521,965.68 compared to the previous year[21]. - The net profit attributable to shareholders for Q4 2021 was CNY 27,878,323.84, with a total annual net profit of CNY 76,138,164.34[24]. - The net cash flow from operating activities for Q4 2021 was CNY 340,915,224.39, showing a significant recovery from previous quarters[24]. Business Expansion and Strategy - The company has expanded its business scope to include customized home furnishings and graphene-related products, following acquisitions in previous years[19]. - The company has established over 100 partnerships with home decoration companies, enhancing its market presence[40]. - The company launched the "Der.1863" high-end brand, marking the beginning of its high-end brand value creation journey[40]. - The company is focusing on the development of a 3D printing customized flooring R&D center to improve production efficiency[38]. - The company is expanding its new retail model and has initiated a digital store pilot in Jiangsu and Shandong provinces[40]. - The company is actively involved in industry associations, enhancing its influence and collaboration within the sector[33]. - The company plans to focus on the dual main business strategy of "smart interconnected home industry + graphene new materials industry" in 2022[89]. - The flooring industry will emphasize high-quality development and user-oriented strategies to enhance brand value[90]. Product Development and Innovation - The company launched several new products, including the "Mountain Residence," "Gold Standard 7 Clean," and "Gray Tone Screen," focusing on continuous upgrades in product performance and appearance[42]. - The "百得胜" brand introduced a water-based paint solid wood custom cabinet, emphasizing full environmental protection with no formaldehyde additives, enhancing its market share in the custom home segment[42]. - The company is in the development phase for several new products, including graphene thermal eye masks and industrial customized products[63][64]. - The company completed several R&D projects aimed at enhancing product competitiveness and market expansion, including fire-resistant composite flooring and health-oriented flooring[63][64]. Awards and Recognition - The company was recognized with multiple awards, including "2021 Environmental Pioneer Brand" and "Top 10 Preferred Brands in China Home Furnishing"[33]. - The company has received multiple awards, including "5A Credit Evaluation for Home Furnishing Enterprises" and "Five-Star Quality Evaluation for Home Products"[35]. Financial Management and Governance - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The company maintains a strong governance structure, ensuring compliance with relevant laws and regulations[96]. - The company has established a transparent performance evaluation and incentive mechanism for its executives[96]. - The company has implemented a comprehensive financial management and auditing system[99]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance and governance stability[116]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares to all shareholders, with no bonus shares issued[4]. - The company reported a cash dividend of 0.30 RMB per 10 shares, totaling 19,758,928.20 RMB, which represents 100% of the distributable profit[134]. - The total distributable profit for the year was 414,389,715.05 RMB, indicating a strong profitability position[134]. Market Trends and Industry Insights - The total sales area of residential commercial housing in China for 2021 was 156,532,000 square meters, a year-on-year increase of 1.07%[30]. - The wood flooring industry in China saw a total sales volume of approximately 413 million square meters in 2021, with a growth rate of about 0.39%[31]. - The furniture manufacturing industry in China achieved a revenue of CNY 800.46 billion in 2021, reflecting a year-on-year growth of 13.5%[33]. - The home furnishing industry generated revenue of ¥2,000,157,817.78, accounting for 98.36% of total revenue, with a year-on-year growth of 28.28%[49]. - The flooring segment contributed ¥1,050,987,725.71, representing 51.68% of total revenue, with a significant increase of 43.55% compared to the previous year[49]. - The customized home segment achieved revenue of ¥912,472,808.79, which is 44.87% of total revenue, reflecting a year-on-year growth of 17.69%[49]. Employee and Management Structure - The total number of employees at the end of the reporting period was 2,778, with 636 in the parent company and 2,142 in major subsidiaries[127]. - The company has a total of 4,799 employees receiving salaries during the reporting period[127]. - The management team consists of dedicated professionals with no overlapping roles in related enterprises[99]. - The company has established a comprehensive salary and performance evaluation system to link employee contributions with compensation[129]. Sustainability and Social Responsibility - The company emphasizes environmental protection as a core value, having launched a "formaldehyde-free" series of products since 2013, reinforcing its brand image in the green product market[45]. - The company adheres to a green development philosophy, optimizing production processes to reduce waste and promote sustainable practices[156]. - The company is committed to sustainable development and improving compliance awareness among employees through targeted training programs[143]. Risk Management and Compliance - The company has established a complete independent asset structure, including land use rights, buildings, production equipment, trademarks, and patents[99]. - The company has not engaged in any related party transactions that could lead to conflicts of interest[99]. - There were no significant defects identified in financial reporting or non-financial reporting[146]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[150].