日久光电(003015) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥488,343,586.57, a decrease of 5.60% compared to ¥517,327,193.63 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥82,362,360.15, down 16.88% from ¥99,085,052.60 in 2020[18]. - The basic earnings per share for 2021 was ¥0.29, a decline of 35.56% from ¥0.45 in 2020[18]. - In 2021, the company achieved operating revenue of CNY 488.34 million, a decrease of 5.6% compared to the previous year, and a net profit attributable to shareholders of CNY 82.36 million, down 16.88% year-on-year[45]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year 2021, representing a year-over-year growth of 20%[156]. - The total revenue for 2021 reached 1.2 billion yuan, reflecting a growth of 20% compared to the previous year[190]. Cash Flow and Investments - The net cash flow from operating activities increased by 43.71% to ¥161,308,303.09 in 2021, compared to ¥112,246,546.17 in 2020[18]. - The net cash flow from investment activities increased by 113.99% to ¥46,185,304.97, mainly due to the maturity of time deposits and recovery of funds[72]. - The net cash flow from financing activities decreased by 150.35%, resulting in a net outflow of ¥166,935,187.77, attributed to a reduction in received investment funds[72]. - The company invested ¥400 million during the reporting period, a significant increase of 566.67% compared to the previous year[78]. - The company allocated ¥229.96 million to the construction of a 5 million square meter ITO conductive film project and ¥5.30 million to the R&D center[83]. Product Development and Market Strategy - The company plans to expand its product offerings to include optical films and adhesives, diversifying its business structure[29]. - The company is focusing on the automotive touch display and foldable smart terminal sectors as part of its market expansion strategy[29]. - The company is developing MITO conductive film with advantages such as ultra-low resistivity and good adhesion, aimed at expanding its application in touch modules[66]. - The company is also working on electrochromic conductive films for applications in energy-saving and thermal control fields, enhancing its market position in the film industry[66]. - The company aims to expand its business structure beyond flexible optical conductive materials into upstream touch display application materials[54]. - The company is focused on expanding its market presence and enhancing product development capabilities[123]. Research and Development - The company's R&D investment amounted to ¥24,824,698.01 in 2021, a decrease of 12.15% compared to ¥28,258,113.04 in 2020, with R&D investment accounting for 5.08% of operating revenue[70]. - Research and development expenses increased by 30% to 150 million RMB, focusing on advanced optical technologies[167]. - The company is investing in new technologies, allocating $50 million towards R&D to drive innovation and improve product offerings[114]. - The company plans to increase R&D investment in optical film products, particularly for automotive displays and foldable screen applications, anticipating a market growth to 50.35 million foldable screen devices by 2025 in China[94]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4]. - The report includes a detailed analysis of potential risks faced by the company in its future operations[4]. - The company faces risks related to a high concentration of suppliers for key raw materials, including PET base film and ITO targets, which could affect production if suppliers fail to meet quality and delivery requirements[97]. - The company is exposed to exchange rate fluctuations, particularly for raw materials priced in Japanese yen and US dollars, which could impact financial performance[97]. Corporate Governance - The company has established a comprehensive corporate governance structure, including a board of directors and various committees, to ensure effective oversight and compliance with regulations[101]. - The company operates independently from its controlling shareholders in terms of business, assets, personnel, finance, and organization, ensuring complete operational autonomy[105]. - The company has established effective internal controls in compliance with relevant laws and regulations, ensuring the legality and safety of operations[141]. - The company has not encountered significant discrepancies between its governance practices and regulatory requirements, indicating a commitment to compliance and best practices[103]. Shareholder Engagement and Dividends - The company reported a cash dividend of 2.00 RMB per 10 shares (including tax) for all shareholders, with no bonus shares issued[4]. - The total cash dividend, including other methods, amounted to 103,753,984.82 yuan, representing 100% of the total profit distribution[137]. - The company plans to distribute a cash dividend of 2 RMB per 10 shares (including tax), totaling approximately 54.82 million RMB based on the adjusted share capital of 274,089,991 shares after buybacks[138]. Market Trends and Future Outlook - The company anticipates significant growth in the touch display industry driven by the advent of 5G technology and the increasing demand for smart devices[30]. - By 2025, the Chinese market for foldable screen smart terminals is expected to reach 50.35 million units, accounting for over 50% of the global market[31]. - The company provided a positive outlook for 2022, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[158].