HCET(SZ:002729)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was ¥222,588,256.53, representing a 31.56% increase compared to ¥169,195,010.59 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥24,141,744.96, a significant increase of 123.85% from ¥10,784,638.77 in 2020[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2021 was ¥22,556,662.12, an increase of 56.45% compared to ¥14,417,809.71 in 2020[22]. - Basic and diluted earnings per share increased by 62.50% to ¥0.26 from ¥0.16 in 2020[22]. - The total assets at the end of 2021 were ¥519,993,699.54, representing a 10.59% increase from ¥470,210,637.67 at the end of 2020[22]. - The net assets attributable to shareholders increased by 6.25% to ¥441,885,294.21 from ¥415,874,261.62 in 2020[22]. - The company reported a total revenue of ¥222,588,256.53 for the year, with quarterly revenues of ¥46,221,280.62, ¥59,859,916.94, ¥60,540,194.57, and ¥55,966,864.40 respectively[26]. - The revenue from circuit protection components accounted for 93.61% of total revenue, amounting to ¥208.36 million, which is a 31.97% increase from ¥157.88 million in the previous year[84]. - The sales volume of circuit protection components reached 65,256.91 million units, up 31.10% from 49,777.29 million units in 2020[89]. - The gross profit margin for circuit protection components decreased to 31.15%, down from 31.97% in the previous year, indicating a decline of 7.22%[88]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of ¥0.40 per 10 shares (including tax) based on a total of 93,352,000 shares[5]. - The cash dividend distribution plan for 2021 includes a cash dividend of 0.40 yuan per share, totaling 3,734,080 yuan[195]. - The total distributable profit for the period was 53,792,899.85 yuan, with cash dividends representing 100% of the profit distribution[193]. - The annual shareholders' meeting had a participation rate of 30.05%[154]. - The company has a clear profit distribution policy that considers the opinions of minority shareholders and involves independent directors in the decision-making process[191]. Market Expansion and Product Development - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[5]. - The company is actively expanding into emerging markets such as renewable energy, energy storage, and electric vehicles, aiming to increase market share[35]. - The company is transitioning from a single fuse product provider to a comprehensive circuit protection system solution provider, expanding its product categories[82]. - The company aims to expand its market share in the electronic fuse market, with a stable growth in customer numbers and a focus on developing the power fuse market[127]. - The company plans to increase the revenue share of its power fuses to approximately 40% by enhancing its research and development efforts in the new energy sector[129]. - The company is actively developing products in the renewable energy sector, including wind power, solar energy, and energy storage, in line with national carbon reduction goals[75]. Research and Development - The company has obtained a total of 47 patents, including 8 new patents in 2021, enhancing its R&D capabilities[36]. - Research and development expenses increased by 27.29% to ¥9,997,180.44, representing 4.49% of operating income[97]. - The company plans to increase its R&D budget by 30% in 2022 to support innovation and product development[171]. - The company has increased its R&D investment in new energy sectors, aiming to enhance its product offerings and market share[55]. - The company aims to enhance its core business by increasing investment in power products and expanding existing product usage scenarios[121]. Corporate Governance and Management - The company has established a strong market presence in various sectors, including traditional power generation, metallurgy, and aerospace, indicating significant market potential[53]. - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirements for governance structure[142]. - The company has established specialized committees within the board, including a strategy committee and an audit committee, to enhance governance[142]. - The company emphasizes the importance of corporate governance and compliance with regulatory standards in its operations[167]. - The company has a performance assessment system in place for determining remuneration for its directors and senior management[173]. Risk Management - The company emphasizes the importance of risk awareness regarding its future plans and market conditions[5]. - The company is aware of the volatility in raw material prices, particularly for copper and tin, and plans to implement hedging strategies to manage cost fluctuations[134]. - The company emphasizes risk management in its derivative trading, including price fluctuation and liquidity risks[114]. - The company acknowledges risks from macroeconomic fluctuations affecting downstream product demand and plans to enhance product development and market expansion to mitigate these risks[131]. Operational Changes and Challenges - The company experienced a leadership change with the resignation of several key executives, including the chairman and general manager, which may impact strategic direction[161]. - The company is focused on maintaining its operational stability despite the changes in management[161]. - The ongoing COVID-19 pandemic poses uncertainties for future performance, and the company will maintain close collaboration with customers to ensure operational continuity[135]. - The company has optimized its production capacity and labor structure to meet the increasing order volume and market demand post-COVID-19[79]. Employee and Training Initiatives - The company conducted various training programs to enhance employee skills, including management skills and professional knowledge training[190]. - The total number of employees at the end of the reporting period was 542, with 59 in the parent company and 483 in major subsidiaries[187]. - The employee composition included 381 production staff, 22 sales staff, 79 technical staff, 11 financial staff, and 49 administrative staff[187]. Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 15% to 18% based on market expansion strategies and new product launches[172]. - The company plans to continue expanding its market presence through strategic initiatives and potential acquisitions[157]. - The company aims to leverage its management's diverse backgrounds to improve operational efficiency and strategic decision-making[169].