CLICK(SZ:002782)2022-04-26 16:00Financial Performance - The company reported a total revenue of 476,831,227 RMB for the year 2021, with a cash dividend of 0.50 RMB per 10 shares distributed to all shareholders[7]. - The company's operating revenue for 2021 was ¥1,648,921,738.25, representing a year-over-year increase of 28.83% compared to ¥1,279,890,651.44 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥26,269,571.92, a significant decrease of 87.25% from ¥206,038,300.85 in 2020[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥56,321,868.74, down 37.64% from ¥90,316,574.87 in 2020[28]. - The net cash flow from operating activities was negative at -¥134,027,606.66, a decline of 192.25% compared to ¥145,282,764.01 in 2020[28]. - The total assets at the end of 2021 were ¥2,075,202,256.98, reflecting a 6.83% increase from ¥1,942,446,429.71 at the end of 2020[31]. - The net assets attributable to shareholders at the end of 2021 were ¥1,472,675,559.96, a slight increase of 0.82% from ¥1,460,740,960.33 at the end of 2020[31]. - The basic earnings per share for 2021 were ¥0.0545, down 88.35% from ¥0.4680 in 2020[28]. - The diluted earnings per share for 2021 were ¥0.0559, a decrease of 88.06% compared to ¥0.4680 in 2020[28]. - The weighted average return on equity for 2021 was 1.82%, down from 19.60% in 2020, indicating a significant decline in profitability[28]. - The gross profit margin for the main business in 2021 was 18.56%, down from 23.31% in 2020, a decline of 4.42%[66]. Market and Business Strategy - The company plans to expand its market presence and enhance its product offerings through new technology development and strategic initiatives[7]. - The company has established a manufacturing base in multiple locations, including Shenzhen, Huizhou, and Vietnam, with a workforce exceeding 4,000 employees, enabling efficient service to domestic and international clients[60]. - The company has successfully developed a series of high-power magnetic components for photovoltaic inverters, including a 320KW boost inductor and inverter inductor, showcasing its technological leadership in the renewable energy sector[55]. - The company has achieved breakthroughs in high-power charging technology, including the mass production of 1KW high-power chargers and the development of water-cooled 40KW charging modules[58]. - The company emphasizes R&D investment, with annual increases in R&D expenditures, which has led to the successful launch of high-efficiency power adapters and fast-charging solutions[55]. - The company plans to develop a 22KW high-power OBC for new energy vehicles to enhance charging efficiency and reduce costs[93]. - The company aims to enhance its competitiveness in high-power smart charging products and expand into outdoor power supply markets[96]. Shareholder and Governance - The company has a dedicated investor relations team to facilitate communication with shareholders and stakeholders[23]. - The company’s annual report is publicly disclosed on designated websites, ensuring transparency and compliance with regulatory requirements[24]. - The company has engaged Lixin Certified Public Accountants for auditing services during the reporting period[27]. - The company has established a dedicated internal audit department that reports directly to the audit committee[175]. - The company has a clear governance structure with independent decision-making bodies, including the shareholders' meeting, board of directors, and supervisory board[182]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[168]. - The supervisory board has 3 members, fulfilling its supervisory role over the board and management, ensuring compliance and accountability[171]. - The company disclosed over 200 temporary announcements and 4 regular reports in 2021, ensuring timely and accurate information for shareholders[173]. - The investor interaction platform answered over 200 investor questions with a 100% response rate in 2021[173]. - The annual shareholders' meeting had a participation rate of 64.47% on April 19, 2021[187]. Risks and Challenges - The company operates in a highly competitive industry, producing magnetic components primarily for UPS power supplies, automotive electronics, and photovoltaic devices, with significant exposure to market demand fluctuations due to technological advancements and economic cycles[152]. - The company faces risks from customer concentration, as major clients in downstream industries like computer power supplies and UPS power supplies represent a significant portion of its sales, which could impact performance if these clients reduce orders[154]. - Key raw materials include enameled wire, magnetic cores, semiconductors, and silicon steel sheets, with material costs being a major component of production costs, thus price volatility can significantly affect profitability[155]. - The company has a high export sales ratio, with foreign sales primarily quoted and settled in USD or HKD, making it susceptible to RMB exchange rate fluctuations[153]. Investment and Acquisitions - The company acquired a 7.50% stake in CRRC Electric for CNY 26,660 million, increasing its total ownership to 8.89%[73]. - The company successfully bid for a 54.25% stake in Haiguang Electronics for CNY 18,604.49 million, aimed at strengthening its magnetic components business[75]. - The company invested CNY 3,595.06 million in the automotive electronic magnetic component production line project, achieving a cumulative investment of CNY 4,571.67 million, representing 35.09% of the planned investment[137]. - The company completed a significant acquisition, holding an 8.89% stake in a company involved in electric vehicle manufacturing, with an investment amount of ¥26.66 million[113]. Research and Development - The number of R&D personnel rose by 57.53% from 299 in 2020 to 471 in 2021, with a significant increase in younger employees under 30 years old[100]. - Research and development expenses increased by 50.85% to approximately ¥69.62 million, primarily due to increased investment in R&D[92]. - The company completed multiple R&D projects, including a 300KW inverter magnetic component aimed at reducing construction costs and size[96]. - R&D investments led to breakthroughs in high-power photovoltaic inverters and high-reliability charging technologies, enhancing product competitiveness[71]. Financial Position and Liquidity - The company's liquidity ratios were strong, with a current ratio of 2.19 and a quick ratio of 1.67, indicating a solid financial position[66]. - Cash and cash equivalents decreased to ¥454.1 million, accounting for 21.88% of total assets, down from 28.01%, a decrease of 6.13% due to pre-purchase inventory, dividend payments, and external investments[109]. - Accounts receivable increased to ¥493.3 million, representing 23.77% of total assets, up from 16.16%, an increase of 7.61% attributed to higher sales[109]. - Inventory rose to ¥311.7 million, making up 15.02% of total assets, up from 8.81%, an increase of 6.21% driven by sales growth and pre-purchase inventory[109]. - The company reported a significant decrease in net cash increase of -89,973,849.50 CNY, down 134.78% from the previous year[103].