兴瑞科技(002937) - 2021 Q4 - 年度财报

Financial Performance - The company achieved a revenue of 1.251 billion CNY in 2021, representing a year-on-year growth of 20.32%[4] - The net profit attributable to the parent company was 113 million CNY, reflecting strong operational performance despite external challenges[4] - Revenue from the automotive electronics sector reached 395 million CNY, marking a significant year-on-year increase of 59.95%[4] - The company reported a gross margin of 35% for 2021, indicating strong operational efficiency[25] - The company's operating revenue for 2021 was CNY 1,251,827,686.86, representing a 20.32% increase compared to CNY 1,040,387,534.88 in 2020[40] - The net profit attributable to shareholders for 2021 was CNY 113,399,452.02, a decrease of 10.87% from CNY 127,230,835.37 in 2020[40] - The net cash flow from operating activities for 2021 was CNY 224,769,352.87, down 21.25% from CNY 285,412,478.56 in 2020[40] - The total assets at the end of 2021 were CNY 1,433,687,739.50, an increase of 13.42% from CNY 1,264,029,860.68 at the end of 2020[40] - The basic earnings per share for 2021 was CNY 0.38, a decrease of 11.63% compared to CNY 0.43 in 2020[40] Strategic Initiatives - The company plans to accelerate the construction of new production capacities, including a new factory in Dongguan and a production line capable of producing 1.26 million automotive battery components and 13 million 5G smart terminal parts annually[7] - The company is focusing on five growth strategies, including deepening relationships with major clients and enhancing R&D capabilities to drive innovation[7] - The company aims to leverage capital investments and acquisitions in the new energy vehicle and smart terminal sectors to drive growth in 2022[7] - The company emphasizes a commitment to high-quality development with a focus on "zero defects" and the establishment of smart, digital, and green factories[8] - The company is committed to a dual circulation strategy, enhancing market, R&D, service, and production capacity layouts to achieve stable and orderly growth[7] Research and Development - The company invested 4.52% of its revenue in R&D, with a team of 270 R&D personnel and 104 patents[81] - The company’s R&D investment reached ¥56.64 million, accounting for 4.52% of total revenue, emphasizing the importance of innovation in enhancing competitiveness[91] - Major R&D projects completed include the development of energy distribution systems and high-pressure waterproof connectors for electric vehicles, aimed at increasing market sales[108] - The number of R&D personnel rose by 4.25% to 270, with R&D personnel accounting for 10.00% of the total workforce[111] Market Expansion - Xingsui Technology aims to expand its market presence in Southeast Asia, targeting a 30% increase in sales from this region by 2023[28] - The company has established long-term partnerships with leading manufacturers in the smart terminal sector, enhancing its market position[71] - The company aims to expand into the smart terminal and new energy vehicle sectors, providing customized system solutions for high-end clients[185] - The company intends to leverage its existing partnerships with smart terminal OEMs to enter the supply chain of large OEMs in Southeast Asia[186] Investment and Financial Management - A cash dividend of 1.80 CNY per 10 shares (including tax) is proposed for shareholders, based on a total of 297,379,500 shares[14] - The company reported a total investment of 8,835.40 million CNY in its projects, with 58.16% funded by raised capital and self-owned funds[130] - The company’s total investment during the reporting period was 163.77 million yuan, an increase of 75.35% compared to the previous year[127] - The company has committed to investment projects totaling RMB 39,739.65 million, with RMB 10,439.07 million invested in the reporting period and a cumulative investment of RMB 29,889.56 million[158] Operational Challenges - The company faces risks from global macroeconomic conditions, including potential slowdowns in downstream industries affecting product demand, and will closely monitor economic trends to adjust strategies accordingly[195] - Ongoing COVID-19 pandemic risks may impact production and business expansion, particularly in factories located in Vietnam and Indonesia, prompting the company to adopt various preventive measures[196] - Currency fluctuation risks are significant, with approximately 74% of sales revenue in 2021 being settled in foreign currencies, leading the company to implement hedging strategies[197] - Commodity price volatility poses risks to the company's operating performance, and the company plans to enhance procurement strategies and inventory management to mitigate these effects[198] Production and Efficiency - The company has implemented lean production strategies, which are projected to reduce operational costs by 10%[28] - The company will implement a "smart factory" and lean production management system to enhance production efficiency and improve profitability[193] - The company has established a closed-loop system for data management, enhancing operational efficiency and smart manufacturing processes[91] Subsidiaries and Regional Performance - Dongguan ZTE Rui Electronic Technology Co., Ltd. reported total assets of RMB 258.21 million and net profit of RMB 21.18 million for 2021[174] - Suzhou ZTE Lian Precision Industry Co., Ltd. achieved total revenue of RMB 238.19 million and net profit of RMB 22.22 million in 2021[176] - The company reported that its subsidiary PT Sunrise Technology Batam achieved sales of RMB 55.44 million and net profit of RMB 10.79 million in 2021[181] - The total assets of Xingsui Technology (Vietnam) Co., Ltd. were RMB 15.24 million, with a net profit of RMB 0.83 million in 2021[180]