Landai Technology(SZ:002765)2022-03-21 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,139,490,003, representing a 30.30% increase compared to CNY 2,454,688,922 in 2020[17]. - The net profit attributable to shareholders of the listed company reached CNY 210,049,596.27, a significant increase of 3,944.42% from CNY 7,719,578.75 in the previous year[17]. - The total profit for the year was 261.33 million yuan, an increase of 1,135.78% compared to the previous year[61]. - Basic earnings per share increased to CNY 0.3652, a growth of 3,626.53% compared to the previous year[18]. - The company achieved a total operating revenue of 3,139.49 million yuan in 2021, representing a year-on-year growth of 30.30%[61]. - The net profit attributable to shareholders of the parent company reached 210.05 million yuan, up by 3,944.42% year-on-year[61]. - The net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, was 124.52 million yuan, reflecting a year-on-year growth of 515.19%[61]. Cash Flow and Investments - The net cash flow from operating activities was CNY 93,155,416.94, reflecting a 30.47% increase from CNY 71,397,632.00 in 2020[17]. - Operating cash inflow increased by 27.52% year-on-year to approximately ¥2.67 billion, driven by business growth and improved collection of sales receivables[96]. - Investment cash inflow surged by 1,794.87% year-on-year to approximately ¥34 million, primarily due to the disposal of intangible assets and recovery of investments[98]. - The total investment during the reporting period is ¥151,645,945.67, reflecting a decrease of 18.61% compared to the previous year[108]. - The cumulative investment in the advanced transmission system project amounts to ¥491,951,998.12, with a completion rate of 100%[110]. Market and Industry Trends - The global automotive display market is projected to grow from USD 13.6 billion in 2020 to USD 17.7 billion by 2022, indicating significant market potential[30]. - The global industrial control touch display market is projected to reach $7.26 billion by 2025, with a compound annual growth rate (CAGR) of 6% from 2017 to 2025[31]. - In 2021, the touch display industry experienced rapid growth, driven by increased demand for smart hardware devices related to remote work and home entertainment[32]. - The company is actively advancing the research and development of new energy vehicle components and has established a solid customer base, including international clients like Valeo[41]. - The new energy vehicle sector saw sales surpassing 3.5 million units in 2021, indicating a strong recovery in the automotive industry[68]. Business Segments and Product Development - The company operates in two main business segments: touch display and power transmission, with no significant changes in its primary business during the reporting period[43]. - The touch display business focuses on the R&D, production, and sales of touch screens and integrated touch display products, including capacitive touch screens and automotive touch screens, targeting high-end applications in tablets, laptops, and automotive electronics[44]. - The power transmission business includes R&D, design, manufacturing, and sales of automotive transmission assemblies and components, with a focus on fuel vehicles, commercial vehicles, and new energy vehicles[47]. - The company has expanded its product offerings from traditional automotive components to include new energy transmission systems, enhancing its market position[47]. - The company is focusing on the development of automotive display products, with successful applications in vehicles from Great Wall Motors and Geely[64]. Research and Development - The company continues to invest in research and development for new technologies and products to maintain competitive advantage in the market[4]. - The company has obtained 53 valid patents in the touch display field, including 2 invention patents, demonstrating its commitment to innovation and technology advancement[50]. - The company achieved a research and development investment of ¥125,888,812.31 in 2021, representing a 2.68% increase from ¥122,598,370.75 in 2020[94]. - The number of R&D personnel increased to 245 in 2021, up by 1.24% from 242 in 2020[94]. - The company is in the small-batch trial production phase for the 6AT transmission assembly, aiming for mass production and export sales[91]. Strategic Partnerships and Market Position - The company has established long-term strategic partnerships with leading global manufacturers such as BOE, Foxconn, and Quanta Computer, positioning itself as a high-end supplier[33]. - The company has established stable strategic partnerships with leading global electronic product ODM/OEM manufacturers, ensuring steady growth in the touch display business[46]. - The company has established long-term strategic partnerships with several domestic and international automotive manufacturers, enhancing its market position[56]. - The company has signed strategic cooperation agreements with Valeo and other international clients to enhance its presence in the new energy market[71]. Governance and Management - The company has established a comprehensive internal management and control system to enhance governance and operational efficiency[159]. - The company has implemented a performance evaluation and incentive mechanism linking the compensation of senior management to company performance and individual performance, enhancing operational efficiency[164][165]. - The company has a robust corporate governance structure, including a board of directors, supervisory board, and various committees, ensuring compliance with legal and regulatory requirements[168][175]. - The company actively respects and protects the rights of stakeholders, including shareholders, creditors, employees, suppliers, and customers, promoting balanced interests[166]. Risks and Challenges - The company emphasizes the importance of understanding the risks associated with forward-looking statements regarding its future plans and strategies[4]. - The company recognizes the risk of intensified market competition in the touch display sector and plans to strengthen its competitive edge through vertical integration and continuous technological innovation[140]. - The company faces increasing competition from international automotive manufacturers entering the Chinese market, necessitating enhanced innovation and product development[149]. - The company has implemented measures to strengthen accounts receivable management due to the financial difficulties faced by some customers in the automotive sector[151].