TONGYU(SZ:002792)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥1.39 billion, a decrease of 8.13% compared to ¥1.51 billion in 2020[19]. - The net profit attributable to shareholders for 2021 was approximately ¥41.12 million, down 42.09% from ¥71.00 million in 2020[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥2.56 million, a significant decrease of 90.91% compared to ¥28.14 million in 2020[19]. - Basic earnings per share for 2021 were ¥0.12, a decrease of 42.86% from ¥0.21 in 2020[19]. - Diluted earnings per share for 2021 were also ¥0.12, reflecting the same decrease of 42.86% from ¥0.21 in 2020[19]. - The total operating revenue for 2021 was approximately ¥1.39 billion, a decrease of 8.13% compared to ¥1.51 billion in 2020[54]. - Revenue from communication antennas and RF devices accounted for 84.62% of total revenue, totaling approximately ¥1.17 billion, down 2.06% from the previous year[54]. - The company's total revenue in the communications industry reached ¥1,173,444,356.93, with a year-on-year decrease of 2.06%[56]. - The gross margin for the communications industry was 22.36%, reflecting a decline of 0.63% compared to the previous year[56]. - The revenue from base station antennas was ¥815,474,724.12, with a year-on-year decrease of 4.38%[56]. - The revenue from new energy cabinets decreased by 53.66%, totaling approximately ¥35.66 million, compared to ¥76.95 million in 2020[54]. Cash Flow and Assets - The net cash flow from operating activities increased by 105.56% to approximately ¥169.62 million, compared to ¥82.52 million in 2020[19]. - The company's operating cash inflow increased by 5.53% to CNY 1,898,292,914.90 in 2021 compared to CNY 1,798,903,023.95 in 2020[73]. - The company's cash and cash equivalents increased significantly by 3,800.27% to CNY 785,892,458.05 in 2021 from CNY 20,149,685.25 in 2020[73]. - The total assets of the company increased by 20.79% year-on-year, reaching CNY 3,821,132,905.70 by the end of 2021[21]. - The net assets attributable to shareholders increased by 34.23% year-on-year, amounting to CNY 2,707,066,852.30 at the end of 2021[21]. - The inventory of RF devices increased by 68.56% year-on-year, indicating a significant rise in production[58]. - The inventory increased to CNY 526,727,853.97, representing 13.78% of total assets, compared to 12.61% in the previous year[75]. Market Position and Product Development - The company has established itself as a leader in the domestic base station antenna market, with a strong emphasis on technological innovation[33]. - The company has nearly 800 valid authorized patents in the RF communication and optical module fields, positioning it as an industry leader[34]. - The company has successfully developed a series of base station antennas and RF devices to meet diverse product demands for 2G, 3G, 4G, and 5G networks, maintaining a strong market competitiveness[35]. - The company is focusing on the development of next-generation high-efficiency base station antennas and has begun strategic deployment in the millimeter-wave and 6G antenna fields[34]. - The company is focusing on the development of new products, including multi-band antennas and advanced filtering technologies for 5G applications[70]. - The company has launched the AFU (Antenna Filter Unit) product globally, which integrates antennas and filters, and has begun strategic deployment in the millimeter-wave and 6G antenna fields[98]. - The company has seen significant growth in overseas markets, particularly in microwave antennas, with products recognized by major suppliers like Ericsson[42]. - The company has entered the smart battery swap cabinet market, targeting urban short-distance delivery sectors, and has won multiple procurement projects from major energy companies[38]. Research and Development - The company has a strong R&D capability, allowing for rapid adaptation to market changes and efficient product development[46]. - Research and development expenses decreased by 10.14% to CNY 103,471,607.05 in 2021 from CNY 115,142,596.43 in 2020, representing 7.46% of operating revenue[71]. - The number of R&D personnel decreased by 8.92% to 296 in 2021 from 325 in 2020[71]. - The company plans to increase R&D investment in 2022, focusing on next-generation high-efficiency base station antenna technology and satellite communication adaptive antennas[103][110]. Governance and Compliance - The company has established a comprehensive governance structure in compliance with relevant laws and regulations[119]. - The company emphasizes independent operations, with no reliance on the controlling shareholder for production and business activities[130]. - The company has a transparent performance evaluation and incentive mechanism for directors and senior management[124]. - The company is committed to compliance with relevant laws and regulations, including the Company Law and Securities Law[152]. - The company has established a complete financial management system, maintaining independent bank accounts and tax obligations[134]. - The company has made significant efforts to respect the rights of stakeholders, including suppliers and customers[125]. Shareholder Engagement - The company held three shareholder meetings during the reporting period, reviewing 21 proposals[120]. - The board of directors consists of 8 members, including 3 independent directors, and held 6 meetings, reviewing 45 proposals[122]. - The company reported a cash dividend of 8,041,139.32 CNY, with a distribution ratio of 100% of the total profit distribution[161]. - The company did not propose any cash dividend distribution plan despite having a positive distributable profit of 873,686,714.41 CNY[161]. Risks and Challenges - The company faced challenges such as rising raw material prices and increased international shipping costs, impacting profitability[31]. - The company has identified risks associated with foreign exchange derivative investments, including exchange rate fluctuations and internal control risks[85]. - The company faces risks related to macroeconomic fluctuations, including potential impacts from international trade tensions and the COVID-19 pandemic[111][112]. Employee Management - The total number of employees at the end of the reporting period was 2,104, with 1,539 in the parent company and 565 in major subsidiaries[157]. - The company has established a salary system based on positions and skills, aiming for steady annual salary growth for employees[159]. - The company emphasizes employee well-being through regular training and health check-ups[181]. - The company has a total of 753 training sessions conducted during the reporting period, focusing on professional skills and safety[160].