HUAFA(SZ:200020)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was CNY 765,611,248.70, representing a 10.68% increase compared to CNY 691,742,269.12 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 7,201,902.02, up 5.44% from CNY 6,830,187.40 in the previous year[19] - The net profit after deducting non-recurring gains and losses increased by 55.47% to CNY 6,379,384.96 from CNY 4,103,393.55 in 2020[19] - The basic earnings per share for 2021 was CNY 0.0254, a 5.39% increase from CNY 0.0241 in 2020[19] - For the full year 2021, the company achieved total revenue of CNY 765.61 million, a 10.68% increase compared to CNY 691.74 million in 2020[28] - The total operating revenue for 2021 reached CNY 765.61 million, an increase of 10.67% compared to CNY 691.74 million in 2020[186] - Total operating costs for 2021 were CNY 754.72 million, up from CNY 686.63 million in 2020, reflecting a growth of 9.91%[186] - Net profit for 2021 was CNY 7.20 million, representing a 5.42% increase from CNY 6.83 million in 2020[187] - Operating profit for 2021 was CNY 11.04 million, a 26.56% increase from CNY 8.74 million in 2020[187] - The total profit for 2021 was CNY 11.95 million, up from CNY 8.82 million in 2020, reflecting a growth of 35.67%[187] Assets and Liabilities - The total assets at the end of 2021 were CNY 659,933,225.57, a 5.12% increase from CNY 627,779,621.06 at the end of 2020[20] - The net assets attributable to shareholders increased by 2.14% to CNY 343,450,639.31 at the end of 2021 from CNY 336,248,737.29 at the end of 2020[20] - Current liabilities rose to CNY 312,000,766.08 in 2021, up from CNY 226,422,832.77 in 2020, indicating an increase of about 37.8%[180] - Non-current liabilities decreased significantly from CNY 65,108,051.00 in 2020 to CNY 4,481,820.18 in 2021, a reduction of approximately 93.1%[180] - The company's total equity increased to CNY 343,450,639.31 in 2021 from CNY 336,248,737.29 in 2020, reflecting a growth of about 2.0%[181] - The total liabilities increased to CNY 316,482,586.26 in 2021 from CNY 291,530,883.77 in 2020, marking an increase of approximately 8.5%[180] Cash Flow - The net cash flow from operating activities for 2021 was negative CNY 12,323,760.07, a decrease of 120.64% compared to CNY 59,719,269.60 in 2020[19] - Cash inflow from investment activities was 262,594.04 CNY, while cash outflow totaled 6,583,893.47 CNY, leading to a net cash flow of -6,321,299.43 CNY[196] - Cash inflow from financing activities reached 132,181,709.17 CNY, with cash outflow of 108,092,163.32 CNY, resulting in a net cash flow of 24,089,545.85 CNY[196] - The total cash and cash equivalents at the end of the period were 14,532,253.75 CNY, a decrease from 14,743,404.73 CNY at the beginning of the period[200] - The company's cash and cash equivalents decreased significantly, indicating potential liquidity concerns that need to be monitored[178] Revenue Breakdown - The video business generated CNY 415.42 million in revenue, up 4.89% year-over-year, while the injection molding business saw a 21.27% increase to CNY 224.95 million[33] - The property leasing business reported revenue of CNY 50.35 million, reflecting a 24.05% increase compared to the previous year[33] - The domestic revenue surged by 94.40% to CNY 509.99 million, while international revenue decreased by 11.55% to CNY 255.61 million[35] - The company's main business revenue from display and injection molded foam parts for 2021 was RMB 637.26 million, accounting for 83.23% of total operating revenue[168] Research and Development - Research and development expenses increased by 48.16% to ¥10,794,872.74 in 2021, reflecting a rise in R&D projects[47] - The number of R&D personnel increased by 26.32% to 96 in 2021, with R&D personnel accounting for 8.57% of the total workforce[49] Corporate Governance - The company has established a complete and independent business system, ensuring separation from the controlling shareholder in terms of personnel, assets, finance, and operations[74] - The company maintains a fully independent financial accounting system in compliance with the Accounting Standards for Enterprises[74] - There are no significant discrepancies between the company's governance practices and the regulations set by the China Securities Regulatory Commission[73] - The board of directors and supervisory board operate independently, with no shared offices or mixed operations with the controlling shareholder[75] - The company has a clear ownership structure, with full control over its production systems and assets[74] Risks and Future Plans - The company has reported risks related to its future development and has outlined corresponding countermeasures in its board report[5] - The company plans to enhance its product structure and expand online sales channels to improve future performance[32] - The company is focusing on developing new customer resources and increasing the proportion of structural component orders to meet sales targets for 2022[33] - The company plans to enhance technology upgrades and product development to improve profitability amid increasing market competition and supply chain pressures[65] - The company aims to accelerate urban renewal projects in Shenzhen to secure stable long-term revenue sources[67] Legal and Compliance - The company is involved in a significant arbitration case with a total penalty of 234 million yuan, which it believes should be fully borne by a related party[170] - The management is assessing the impact of the arbitration case on financial statements, which may lead to significant judgments regarding liabilities[171] - The audit firm has identified key audit matters, including significant related party transactions and the ongoing arbitration case, which may affect financial reporting[176] Shareholder Information - The total number of shares is 283,161,227, with 100% being unrestricted shares[150] - The largest shareholder, Wuhan Zhongheng Group, holds 42.13% of shares, totaling 119,289,894, with 116,100,000 shares pledged[151] - The company has 19,773 common shareholders at the end of the reporting period, down from 20,689 at the previous month-end[151]