LXBY(SZ:002884)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was ¥2,062,880,131.93, representing a 43.72% increase compared to ¥1,435,395,208.86 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥483,308,187.19, a growth of 34.81% from ¥358,517,067.24 in 2020[20]. - The net profit after deducting non-recurring gains and losses was ¥471,564,794.05, which is a 44.66% increase from ¥325,977,177.97 in 2020[20]. - The basic earnings per share for 2021 was ¥1.36, up 29.52% from ¥1.05 in 2020[20]. - The diluted earnings per share for 2021 was also ¥1.36, reflecting a 30.77% increase from ¥1.04 in 2020[20]. - The weighted average return on equity for 2021 was 23.83%, an increase of 4.10% from 19.73% in 2020[20]. - The total assets at the end of 2021 were ¥2,367,475,225.16, a 9.09% increase from ¥2,170,106,636.19 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were ¥2,142,068,079.84, which is an 8.44% increase from ¥1,975,304,246.05 at the end of 2020[21]. - The net cash flow from operating activities for 2021 was ¥274,070,742.60, a slight decrease of 1.14% from ¥277,228,604.32 in 2020[20]. - The company reported a total distributable profit of RMB 841,946,337.24, indicating a strong profitability position[143]. Production and Sales - The company plans to increase its annual production capacity of civilian centrifugal pumps to 8 million units over the next five years, depending on market demand[34]. - Domestic sales reached CNY 1,010,210,468.30, up 25.13%, while international sales were CNY 1,052,669,663.63, marking a 67.60% increase[53]. - The sales volume of water pumps increased by 23.37% to 444.94 thousand units in 2021, up from 360.67 thousand units in 2020[60]. - The production volume also rose by 23.80% to 463.15 thousand units in 2021, compared to 374.1 thousand units in 2020[60]. - The company reported a significant increase in the sales of plastic bathroom pumps, which rose by 79.67% to ¥1,248,896,075.08, compared to ¥695,107,824.11 in 2020[57]. - The overseas sales accounted for 51.03% of total revenue, amounting to ¥1,052,669,663.63, which is a 67.60% increase from ¥628,080,765.09 in 2020[57]. Research and Development - The company invested CNY 64,238,426.37 in R&D, an increase of 37.81% compared to the previous year, focusing on new product development such as pipeline pumps and stainless steel pumps[53]. - The company has developed 20 patents, including 7 invention patents, and has participated in the formulation of 5 national and industry standards[44]. - The company has a strong research and development capability, with provincial-level engineering technology research centers and a CNAS-accredited testing center[33]. - The company completed several key R&D projects, including the ABJR series automatic pump and CVPA series stainless steel pump, aimed at enhancing product competitiveness[70]. - The number of R&D personnel increased by 78.51% to 216, indicating a significant expansion in the R&D team[71]. Risk Management - The company faces risks including raw material price fluctuations, inventory impairment, and high foreign customer sales proportion[5]. - The gross profit margin decreased by 1.95% due to significant increases in raw material costs, despite price adjustments[54]. - The company is actively working to mitigate risks associated with raw material price fluctuations and market competition, which could adversely affect operations[103]. Governance and Compliance - The company has established a comprehensive governance structure, including rules for shareholder meetings, board meetings, and internal control systems[110]. - The company maintains independence in assets, personnel, finance, institutions, and business operations from its controlling shareholders[111]. - There were no significant violations of laws or regulations in the company's governance practices during the reporting period[110]. - The company has committed to maintaining compliance with the Shenzhen Stock Exchange's operational guidelines and enhancing communication with independent directors[161]. Employee and Management - The total number of employees at the end of the reporting period was 1,256, with 817 in the parent company and 439 in major subsidiaries[139]. - The company has a well-established compensation system, including a performance-based salary structure for both senior management and regular employees[140]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 8.8848 million CNY[128]. - The company emphasizes employee training and development, implementing a comprehensive training system for skill enhancement[141]. Future Outlook - The company aims for a year-on-year revenue growth of approximately -10% to 10% for 2022, reflecting the impact of macroeconomic uncertainties[97]. - The company plans to expand its distribution network in the domestic market and develop new products, particularly focusing on stainless steel pumps and pool pumps to capture market share[100]. - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 12% based on market expansion strategies[171]. - The company plans to invest in automation and technology upgrades to improve production efficiency and reduce costs[105]. Social Responsibility - The company donated a total of 1.295 million yuan to social welfare initiatives, including support for education and employment for disabled individuals[165]. - The company emphasizes the protection of shareholder rights through transparent communication and governance practices[165]. - The company has established a dual prevention mechanism for safety production to effectively reduce the occurrence of accidents[165].