GDM(SZ:002636)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was ¥5,891,172,845.57, representing a 63.33% increase compared to ¥3,606,803,986.71 in 2020[23] - The net profit attributable to shareholders for 2021 was ¥690,185,508.69, a significant increase of 282.69% from ¥180,349,197.58 in 2020[23] - The net profit after deducting non-recurring gains and losses was ¥635,925,787.49, up 219.57% from ¥198,993,438.04 in the previous year[23] - The net cash flow from operating activities reached ¥742,126,022.15, an increase of 71.63% compared to ¥432,410,224.00 in 2020[23] - Basic earnings per share for 2021 were ¥0.948, reflecting a 282.26% increase from ¥0.248 in 2020[23] - The total assets at the end of 2021 amounted to ¥6,865,206,223.55, a growth of 28.90% from ¥5,326,075,118.56 at the end of 2020[23] - The net assets attributable to shareholders were ¥3,493,926,381.94, which is a 22.72% increase from ¥2,847,037,271.13 in 2020[23] - The weighted average return on equity for 2021 was 21.50%, up from 6.54% in 2020, indicating improved profitability[23] Revenue and Profit Trends - Total revenue for the first quarter was approximately ¥1.34 billion, while the second quarter saw an increase to about ¥1.75 billion, followed by a decline to ¥1.44 billion in the third quarter and ¥1.36 billion in the fourth quarter[27] - Net profit attributable to shareholders was ¥258 million in the first quarter, rising to ¥288 million in the second quarter, but dropped to ¥169 million in the third quarter and recorded a loss of ¥25 million in the fourth quarter[27] - Non-recurring gains and losses totaled ¥54.26 million for the year, with government subsidies contributing ¥13.02 million and fair value changes from financial assets yielding ¥63.58 million[28] Business Operations and Expansion - The company operates in the electronic industry, focusing on the research, production, and sales of copper-clad laminates, which are widely used in various electronic sectors[34] - The company has expanded its production capacity for electronic-grade fiberglass to support the growing demand for copper-clad laminates[36] - The PCB division has been established to further penetrate the PCB industry, offering a range of products including single-sided and multi-layer boards[36] - The company has three subsidiaries in the pharmaceutical sector, focusing on the production and research of traditional Chinese medicine and medical devices[36] - The company achieved operating revenue of CNY 589,117.28 million, a year-on-year increase of 63.33%, and a net profit of CNY 70,100.82 million, up 281.79%[38] - The main business segment of copper-clad laminates produced 41.49 million sheets, a growth of 2.45%, with sales reaching 41.18 million sheets, an increase of 1.40%, generating revenue of CNY 540,843.43 million, up 62.78%[38] - The PCB segment reported operating revenue of CNY 13,776.11 million, a significant increase of 435.76% compared to the previous year[38] Investment and Cash Flow - Operating cash inflow increased by 42.64% to CNY 5,368,925,697.03 in 2021, driven by price increases and revenue growth[61] - Operating cash outflow rose by 38.88% to CNY 4,626,799,674.88, primarily due to increased revenue and rising raw material costs[62] - Investment cash inflow increased by 24.77% to CNY 4,220,933,455.07, while investment cash outflow decreased by 6.51% to CNY 3,875,512,957.86, resulting in a net cash flow from investment activities of CNY 345,420,497.21[61] - Net cash flow from financing activities decreased significantly by 2,138.09% to -CNY 185,275,298.67, due to loan repayments and dividend payments[62] Research and Development - R&D expenses increased by 61.69% to 243,879,844.58 yuan in 2021, up from 150,833,251.26 yuan in 2020, reflecting a significant investment in innovation[57] - The number of R&D personnel rose by 18.25% to 473 in 2021, compared to 400 in 2020, indicating a focus on enhancing research capabilities[58] - The company holds 72 invention patents and 205 utility model patents, emphasizing its commitment to technological innovation and development of competitive products[41] Market Environment and Risks - The market environment has been influenced by rising commodity prices and supply chain disruptions, but conditions are expected to stabilize as international economies recover[33] - The company anticipates potential market risks due to fluctuating raw material prices and intensified competition in the electronics industry[81] - The company recognizes the impact of macroeconomic conditions and geopolitical tensions on its operations and is preparing to mitigate these risks[81] Corporate Governance - The company has established a basic performance evaluation system linking compensation to the achievement of business goals and compliance with responsibilities[88] - The company maintains independence from its controlling shareholder in business, personnel, assets, organization, and finance, ensuring autonomous operational capabilities[91] - The company has a complete and independent financial accounting department, with its own accounting system and financial management practices[92] - The company emphasizes the importance of corporate governance and ensures timely and accurate disclosure of significant information to protect shareholder rights[147] Shareholder Information - The company plans to distribute a cash dividend of ¥0.85 per 10 shares, based on a total of 728,000,000 shares[5] - A cash dividend of ¥61,880,000.00 was declared, representing a distribution of ¥0.85 per 10 shares, which is 100% of the total profit distribution[126] - The total number of employees at the end of the reporting period was 2,784, with 1,633 in production, 200 in sales, and 408 in technical roles[119] Environmental Compliance - The company reported a total wastewater discharge of 21,020 tons per year, with a chemical oxygen demand of 0.357 tons per year and ammonia nitrogen of 0.006 tons per year[143] - The company achieved a nitrogen oxide emission of 4.303 tons per year, which is below the approved limit of 4.85 tons per year[143] - The company has established a comprehensive environmental monitoring plan and conducts regular inspections to ensure compliance with environmental regulations[146] Internal Controls and Risk Management - The company has maintained effective internal controls over financial reporting, with no significant deficiencies identified[131] - The internal control self-assessment report indicated that there were no significant deficiencies in financial or non-financial reporting[136] - The company is enhancing its bad debt risk awareness due to severe market risks in the PCB industry, focusing on market monitoring and internal controls to reduce accounts receivable risks[82]