Suntak(SZ:002815)2022-04-15 16:00Financial Performance - The company's operating revenue for 2021 was CNY 5,995,769,518.49, representing a 37.27% increase from CNY 4,367,714,599.51 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 553,871,774.83, a 25.70% increase compared to CNY 440,619,182.23 in 2020[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 521,405,011.94, up 32.85% from CNY 392,483,769.75 in 2020[24]. - The net cash flow from operating activities reached CNY 1,223,432,417.58, a significant increase of 132.39% from CNY 526,466,567.60 in 2020[24]. - The total assets at the end of 2021 were CNY 8,694,154,261.60, reflecting a 13.15% increase from CNY 7,683,984,221.64 at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were CNY 4,543,880,882.82, an increase of 8.27% from CNY 4,196,722,795.60 at the end of 2020[24]. - The company reported a basic earnings per share of CNY 0.63 for 2021, up 26.00% from CNY 0.50 in 2020[24]. - The company achieved a net profit growth of 206.15% in 2021, with revenue from the 5G RF market showing significant growth[54]. - The gross profit margin for the printed circuit board segment was 21.98%, a decrease of 1.50% from the previous year[68]. Dividend Policy - The company plans to distribute a cash dividend of 3.10 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[6]. - The proposed cash dividend for the 2021 fiscal year is RMB 3.1 per 10 shares, subject to approval at the annual shareholders' meeting[192]. - The company has a profit distribution policy that emphasizes cash dividends as a key form of investor return, aligning with shareholder interests[185]. - The company plans to maintain a minimum cash dividend ratio of 20% in profit distributions during its growth phase[191]. Research and Development - The company reported a significant focus on R&D for new products and technologies, aiming to enhance its competitive edge in the PCB market[17]. - The company invested CNY 262 million in R&D in 2021, focusing on high-end PCB products such as 5G and AI server circuit boards[63]. - The number of R&D personnel increased by 19.32% from 761 in 2020 to 908 in 2021, with R&D personnel now making up 15.09% of the total workforce[81]. - Research and development (R&D) expenses for 2021 were approximately ¥262.27 million, a slight decrease of 1.37% from ¥265.93 million in 2020[82]. - The company completed several key R&D projects, including the development of circuit boards for automotive electronics and AI servers, enhancing its competitive edge in these markets[81]. Market Expansion and Strategy - The company maintains a strong commitment to market expansion, particularly in the flexible PCB and integrated circuit substrate segments[17]. - The company has established partnerships with major clients in the 5G sector, including ZTE and Intel, enhancing its market position[55]. - The company has a diversified customer base, which helps to reduce dependency on any single market or client[116]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 300 million RMB allocated for potential deals[162]. - The company plans to expand its production capacity in Zhuhai, with a designed annual capacity of 640 million square meters, supporting future growth[59]. Risk Management - The company has identified potential risks related to macroeconomic fluctuations and raw material price volatility, along with strategies to mitigate these risks[6]. - Raw material costs account for approximately 70% of the company's total costs, with significant reliance on copper and other materials, making it vulnerable to price fluctuations[120]. - Approximately 60% of the company's revenue comes from exports, primarily settled in USD, exposing it to exchange rate risks[121]. - The company has implemented measures to manage exchange rate risks, including using USD loans and increasing domestic market orders[121]. Corporate Governance - The company is committed to transparent governance and protecting the rights of all shareholders, particularly minority shareholders[129]. - The company has established an internal audit system to enhance operational compliance and protect shareholder rights[139]. - The company emphasizes the independence of its board and supervisory board, ensuring no major discrepancies with legal regulations[139]. - The company has independent financial management, with a dedicated accounting department and no interference from controlling shareholders[143]. - The company has a clear performance evaluation and incentive mechanism for its directors and senior management[135]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in operational costs[162]. - The company utilizes advanced ERP systems and smart manufacturing technologies to enhance production efficiency and management capabilities[52]. - The company has a plan to enhance operational efficiency and reduce costs through group management and benchmarking across factories[120]. Employee Management - The total number of employees at the end of the reporting period was 6,019, with 3,612 in production, 1,646 in technology, and 950 with bachelor's degrees[181]. - The company has a structured training program aimed at improving employee skills and safety management[183]. - The company has no outsourced labor, indicating a focus on in-house capabilities[185]. - The company reported a significant increase in employee compensation payments, rising by 31.74% to CNY 896,558,246.01 due to an increase in workforce[84]. Financial Compliance - The company has engaged Tianjian Accounting Firm for auditing services, ensuring compliance with financial regulations[23]. - The company’s financial report has been verified for accuracy and completeness by its management team, ensuring transparency for investors[5]. - The company has not encountered any issues or other circumstances regarding the use and disclosure of raised funds[108].