TES(SZ:003019)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,592,319,938.02, representing a 33.40% increase compared to ¥1,193,656,060.29 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥150,887,739.71, a 35.71% increase from ¥111,183,753.54 in 2020[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥127,312,000.89, up 26.45% from ¥100,681,390.16 in 2020[20]. - The company's total assets at the end of 2021 were ¥1,875,446,688.67, a 26.28% increase from ¥1,485,124,137.28 at the end of 2020[20]. - The net assets attributable to shareholders at the end of 2021 were ¥1,309,191,941.11, an 8.19% increase from ¥1,210,115,087.20 at the end of 2020[20]. - The basic earnings per share for 2021 was ¥1.18, a 4.42% increase from ¥1.13 in 2020[20]. - The weighted average return on equity for 2021 was 12.03%, down from 20.42% in 2020, reflecting an 8.39% decrease[20]. - The company achieved operating revenue of ¥1,592,319,938.02, representing a year-on-year growth of 33.40%[67]. - The net profit attributable to shareholders was ¥150,887,739.71, reflecting a year-on-year increase of 35.71%[67]. Market Opportunities - The company operates in the commercial smart interactive display device sector, which has strong demand from various industries including retail, finance, and healthcare[30]. - The company benefits from supportive national policies aimed at promoting the development of the smart display industry, enhancing its growth prospects[31]. - The commercial IoT market in China is expected to grow from the current scale of 100 billion RMB to 500 billion RMB as penetration increases to 50%[34]. - The smart commercial terminal market in China was valued at 8.9 billion RMB in 2020, with projections to reach 14.1 billion RMB by 2023, reflecting a strong recovery post-pandemic[35]. - The global smart cockpit market was approximately 44.7 billion USD in 2020, projected to reach 73.8 billion USD by 2025, with a compound annual growth rate (CAGR) of 10.4%[39]. - The smart fitness market in China reached around 10 billion RMB in 2019, expected to exceed 82 billion RMB by 2025, with a CAGR of approximately 46%[37]. - The global market for large-sized LCD panels is anticipated to see significant growth, particularly in commercial interactive whiteboards, with a CAGR of 24% from 2021 to 2026[38]. - The penetration rate of smart interactive displays in global meeting rooms is currently below 3%, indicating substantial market potential exceeding 1 trillion USD[38]. Product Development and Innovation - The company focuses on customized commercial interactive display solutions, including hardware and software development, to meet diverse client needs[42]. - The company plans to acquire a 51% stake in Longxing Technology to enhance its large-size product line and establish a supply chain suitable for both domestic and global markets[39]. - The company has expanded its product applications to include remote conferencing and automotive smart cockpit areas following the acquisition of Taiwan Longxing Technology and investment in Hongtong Technology[47]. - The company is enhancing its capabilities in the medical display sector, providing high-resolution and color-accurate displays tailored for various medical imaging applications[53]. - The company is actively pursuing acquisitions of high-quality overseas assets, leveraging domestic financing advantages and valuation differences[142]. - The company plans to launch new products, including NFC integrated touch displays and curved monitors, with mass production expected by the end of 2022[103]. - The company developed 137 new products/projects during the reporting period, focusing on customer customization needs[79]. Financial Management and Investments - The company reported a negative net cash flow from operating activities of ¥229,445,860.22 in 2021, a decrease of 353.01% compared to ¥90,686,425.42 in 2020[20]. - The company's total investment amount for the reporting period was CNY 90,978,000, representing a 100% increase compared to the previous year[116]. - The company acquired a 51% stake in Longxing Display Technology Co., Ltd. for CNY 65,108,000, which is part of its strategy to expand into large-size commercial displays[117]. - The company also invested CNY 25,870,000 for a 10% stake in Hongtong Technology (Xiamen) Co., Ltd., focusing on automotive smart cockpit equipment[117]. - The company received various quality certifications, including ISO9001 and AEO, ensuring product quality and compliance with international standards[75]. - The company aims to mitigate foreign exchange risks through its derivative investments, specifically using foreign exchange forward contracts[122]. Corporate Governance - The governance structure of the company has been strengthened, ensuring compliance with relevant laws and regulations, enhancing internal control systems[158]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with legal requirements and effective governance[160]. - The supervisory board is composed of 3 members, ensuring oversight of major company matters and compliance with regulations[161]. - The company maintains a transparent performance evaluation and incentive mechanism, linking compensation to company and individual performance[162]. - The company respects and protects the rights of stakeholders, promoting balanced interests among shareholders, employees, and society[163]. - Information disclosure practices are strictly adhered to, ensuring accuracy and completeness in compliance with legal requirements[164]. - The company has established a robust investor relations management system to ensure fair information disclosure to all investors[165]. Future Outlook - The company expects a net profit growth of 30% to 50% for the year 2022 compared to 2021[135]. - The company is optimistic about its future outlook, projecting continued revenue growth and market expansion in the coming years[180]. - The company plans to explore potential mergers and acquisitions to accelerate growth and expand its market reach[178]. - The company aims to leverage its expertise in optical technology to drive future growth and innovation in the industry[181]. - The company is committed to maintaining transparency and accountability in its financial reporting and corporate governance practices[176].