TJT(SZ:002977)2022-04-14 16:00Dividend Distribution - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares (including tax) to all shareholders, based on a total of 71,500,000 shares[4]. - The cash dividend distribution plan includes a payout of CNY 3.00 per 10 shares (tax included) and a capital reserve increase of 4 shares per 10 shares, with a total cash dividend amounting to CNY 21,450,000.00[123]. - The cash dividend distribution accounted for 100% of the total profit distribution amount, aligning with the company's commitment to maximizing shareholder returns[123]. Financial Performance - The company's operating revenue for 2021 was ¥278,412,932.08, representing a 27.35% increase compared to ¥218,622,306.07 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥111,351,443.00, a 35.19% increase from ¥82,369,550.58 in 2020[19]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥101,861,175.93, up 37.48% from ¥74,089,046.55 in 2020[19]. - The total assets at the end of 2021 were ¥1,218,046,187.30, an 8.38% increase from ¥1,123,832,495.50 at the end of 2020[19]. - The company's basic earnings per share for 2021 was ¥1.56, a 26.83% increase from ¥1.23 in 2020[19]. - The weighted average return on net assets for 2021 was 11.51%, up from 10.70% in 2020[19]. Customer Concentration and Risks - The company has a high customer concentration risk, which is highlighted in the report[4]. - The report emphasizes potential risks including quality risk, technology risk, and risks associated with existing operational sites[4]. - The company's top five customers accounted for 98.53% of total sales, with the largest customer contributing 88.81%[46][47]. - The company faces risks related to product quality, as its main products require high reliability, particularly in missile guidance systems[83]. - The company has a high concentration of accounts receivable, which poses a risk to its cash flow and profitability if major customers face financial difficulties[83]. Research and Development - The company has received multiple awards, including 2 National Defense Science and Technology Awards and 1 National Science and Technology Progress Award, highlighting its strong R&D capabilities[30]. - Future R&D projects include high-band microwave components and anti-jamming technology, aimed at enhancing competitive advantages[50]. - Research and development expenses amounted to CNY 9.53 million, accounting for 3.42% of operating revenue, down from 5.22% in the previous year[51]. - The company plans to continue to invest in research and development of new products and technologies, focusing on higher-band microwave front-end technology and new phased array antennas[80]. Market Position and Growth - The company has a strong position in the military electronics industry, focusing on high-band, high-power solid-state microwave front-end products[30]. - The company anticipates significant growth in the missile support industry during the 14th Five-Year Plan period, driven by increased demand for missile consumables[30]. - The company is positioned to benefit from the growing demand in the defense sector due to increased national defense spending and modernization efforts[33]. - The company plans to focus on high-band, high-power solid-state transmitters and expand applications in precision guidance, radar, communication, and electronic countermeasures[78]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its management[3]. - The company has established a robust internal control system, including governance frameworks and management regulations to ensure effective operational oversight[128]. - The company’s board of directors includes experienced professionals with backgrounds in finance and technology, enhancing its strategic direction[96]. - The company is committed to maintaining transparency and engaging with shareholders through regular meetings and updates[91]. Employee Management - The total number of employees at the end of the reporting period was 159, with 80 in production, 3 in sales, and 44 in technical roles[118]. - The company has a comprehensive salary and welfare system, providing competitive compensation and various benefits beyond the statutory requirements[120]. - The company implemented an annual training plan to enhance employee skills and management quality, focusing on both internal and external training[121]. Cash Flow and Investment - The net cash flow from operating activities for 2021 was ¥4,438,228.39, a significant decrease of 84.09% compared to ¥27,892,067.55 in 2020[19]. - The total investment amount for the reporting period was ¥421,864,589.26, a decrease of 40.00% from ¥703,060,580.05 in the previous year[63]. - The company’s cash flow management remains stable, ensuring sufficient liquidity for ongoing operations and investments[52]. Compliance and Regulatory Matters - The company has established clear procedures for managing related party transactions to ensure fairness and transparency[129]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[138]. - The company emphasizes the importance of corporate social responsibility, focusing on investor relations, employee rights protection, and supplier and customer relationship maintenance[139]. Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 20% to 1.8 billion CNY, driven by new product launches and market expansion strategies[152]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[161]. - Future guidance includes a focus on sustainability initiatives, aiming to reduce operational carbon emissions by 20% by 2025[154].