Yorhe(SZ:002795)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,008,508,895.38, representing a 55.71% increase compared to ¥647,691,188.74 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥18,682,917.51, a 44.55% increase from ¥12,924,662.58 in 2020[18]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥14,705,244.35, showing a 73.22% increase from ¥8,489,349.07 in 2020[18]. - The net cash flow from operating activities for 2021 was ¥115,162,707.14, which is a 103.93% increase compared to ¥56,472,415.67 in 2020[18]. - The total assets at the end of 2021 were ¥1,506,596,737.33, reflecting a 27.04% increase from ¥1,185,934,827.59 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were ¥770,553,263.72, a 20.56% increase from ¥639,140,711.44 at the end of 2020[18]. - The company achieved total revenue of 1,008.51 million yuan in 2021, representing a year-on-year growth of 55.71%[45]. - The net profit attributable to the parent company was 186.83 million yuan, an increase of 44.55% compared to the previous year[45]. - The total operating revenue for the year 2021 reached ¥1,008,508,895.38, representing a year-on-year increase of 55.71% compared to ¥647,691,188.74 in 2020[63]. - The industrial segment contributed ¥918,323,094.84, accounting for 91.06% of total revenue, with a year-on-year growth of 52.39%[63]. - The medical services and other industries saw a revenue increase of 100.10%, reaching ¥90,185,800.54, up from ¥45,070,534.16 in 2020[63]. Business Strategy and Expansion - The company plans to expand into the precision radiation therapy sector, driven by the increasing cancer incidence in the aging population[27]. - The projected number of new cancer cases in China is expected to reach 499 million by 2024 and 570 million by 2030, indicating a growing market opportunity[28]. - The company focuses on building a chain of specialized cancer hospitals in key cities, integrating advanced medical imaging and radiation therapy technologies[36]. - The company aims to address the imbalance in radiation therapy resources between first-tier and lower-tier cities, where demand significantly exceeds supply[30]. - The company is strategically expanding its presence in high-value cities and emerging markets to build a nationwide cancer treatment service network[52]. - The company is developing a lead-free threaded ball valve to meet European market standards, currently in mass production phase[76]. - The company aims to establish a chain of specialized hospitals focused on precision radiation therapy for tumors, targeting high-value cities and emerging markets[106]. - The company plans to enhance its product supply capabilities by developing integrated solutions in the water system and HVAC sectors[107]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with a budget of RMB 300 million allocated for potential deals[152]. Operational Efficiency and Management - The company is implementing a "dual control" energy consumption policy, adjusting production schedules to minimize the impact of power restrictions[47]. - The company is promoting a "machine replacement" plan to optimize production processes and reduce labor costs through automation[48]. - The company emphasizes talent development, focusing on internal talent cultivation and management to support business growth[50]. - The company has established partnerships with major hospitals to enhance service capabilities and improve patient care through collaborative agreements[39]. - The company has implemented an ERP system for integrated management, improving responsiveness to customer demands[59]. - The company has a structured training program aimed at enhancing employee capabilities and aligning with strategic goals[170]. - The company has a differentiated compensation structure based on employee levels and categories, ensuring internal equity and external competitiveness[169]. - The company is focused on maintaining advanced technology through continuous upgrades and expansions in its valve and fitting business[178]. Financial Management and Investments - The company reported a cash dividend of 0.00 RMB per 10 shares and a capital reserve increase of 4 shares for every 10 shares held[6]. - The company has a cash dividend policy in place but did not propose any cash dividends for 2021, opting instead for a capital reserve increase of 4 shares for every 10 shares held[173]. - The company reported a total of ¥58.23 million in investment properties, which are also subject to mortgage guarantees[89]. - The company has pledged 100% equity of its subsidiaries for bank loans, with total restricted assets valued at approximately ¥290.71 million[91]. - The company reported a significant focus on the development of the medical health industry, particularly in the field of precision radiation therapy for tumors[122]. - The company plans to continue its forward foreign exchange settlement business to manage financial risks effectively[162]. - The company has engaged in a significant asset restructuring plan involving the sale of 100% equity in Zhejiang Yonghe Zhikong Technology Co., Ltd. to Zhiba Technology (Zhejiang) Co., Ltd.[163]. Governance and Compliance - The company held one annual general meeting and four extraordinary general meetings during the reporting period, ensuring compliance with legal requirements for shareholder participation[123]. - The company maintains independence from its controlling shareholder, with no instances of non-operational fund occupation reported[124]. - The board of directors operates in accordance with legal and regulatory requirements, ensuring effective governance and oversight[125]. - The company has established a transparent performance evaluation and incentive mechanism for its directors, supervisors, and senior management, enhancing operational efficiency[128]. - The company's internal audit reports for 2021 confirmed compliance with financial reporting standards and highlighted the integrity of its financial practices[162]. - The company has established a comprehensive internal control system that has been effectively implemented, with no significant defects reported during the reporting period[189]. Market Challenges and Risks - The company faces risks related to industry policy changes that may impact private capital investment in medical services, particularly in tumor precision radiotherapy[112]. - The company has a significant portion of its hospital revenue tied to local medical insurance, which may face pressure as the business scales[113]. - The company is at risk of goodwill impairment due to acquisitions in the healthcare sector, necessitating a focus on improving hospital operational and profitability capabilities[114]. - The valve and fittings business is exposed to foreign exchange risks, particularly with the US dollar, and will implement hedging strategies to mitigate these risks[115]. - The company will track raw material price trends, particularly copper, which constitutes approximately 60% of production costs, to manage price volatility effectively[116].