Ledman(SZ:300162)2022-04-12 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-on-year increase of 15%[18]. - The gross profit margin for 2021 was 30%, which is a slight decrease from 32% in 2020[18]. - The company reported a net profit of 300 million RMB for 2021, an increase of 20% from the previous year[18]. - The company's operating revenue for 2021 was ¥1,303,357,407.04, representing a 59.17% increase compared to ¥818,833,110.50 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥47,451,528.81, a significant turnaround from a loss of ¥315,540,892.51 in 2020, marking a 115.04% increase[23]. - The net profit after deducting non-recurring gains and losses was ¥31,426,081.68 in 2021, compared to a loss of ¥312,488,720.12 in 2020, reflecting a 110.06% improvement[23]. - The net cash flow from operating activities reached ¥41,720,435.83, a remarkable increase of 511.03% from a negative cash flow of ¥10,150,115.77 in 2020[23]. - The total assets at the end of 2021 were ¥1,509,599,827.46, up 30.17% from ¥1,159,685,022.93 at the end of 2020[23]. - The company's weighted average return on equity improved to 7.69% in 2021, compared to -41.90% in 2020, indicating a significant recovery[23]. Market Expansion and Product Development - The company plans to invest 200 million RMB in R&D for new LED technologies in 2022, focusing on Micro LED and COB technologies[18]. - The company is expanding its market presence in Southeast Asia, with plans to establish a new manufacturing facility in Vietnam by mid-2022[18]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market share in the LED industry[18]. - The company has launched and mass-produced Micro LED ultra-high-definition display products based on advanced COB integration packaging technology, enhancing its product structure and business ecosystem[40]. - The company is positioned as a leader in the 8K ultra-high-definition LED display market and has established strategic partnerships in the aerospace sector[40]. - The company anticipates further market penetration of LED conference all-in-one machines, with projected sales of commercial tablets expected to reach 700.6 thousand units in 2022, a growth rate of 31.3%[34]. - The company plans to innovate with lightweight LED glass wall displays, enhancing transparency and usability[94]. - The company is developing a high-quality conference all-in-one machine, aiming to capture the high-end market with new patents[93]. R&D and Innovation - The company has accumulated over 500 domestic and international patents, including more than 80 related to COB technology, establishing a robust intellectual property system[54]. - R&D expenses increased by 8% year-on-year, with over 500 domestic and international patents accumulated, including more than 80 related to COB technology[77]. - The company plans to apply for more than 2 new patents related to Micro LED technology during the project implementation period[95]. - The company aims to enhance its research and development capabilities to drive innovation and accelerate new product iterations[114]. Risks and Challenges - The company faces risks related to raw material price fluctuations, with a projected increase of 10% in material costs for 2022[6]. - The ongoing COVID-19 pandemic poses risks to raw material procurement and overall operational efficiency, prompting the company to adjust its business strategies accordingly[125]. - Rising raw material prices and supply chain volatility are risks that the company plans to mitigate through supply chain optimization and cost control measures[126]. - The company recognizes the risk of intensified market competition and technological innovation, emphasizing the need for continuous product development and customer service improvements[127]. Governance and Management - The company has established a complete and independent business system, including R&D, procurement, production, and sales, with no reliance on the controlling shareholder for operations[145]. - The company reported that its governance structure complies with the requirements set by the China Securities Regulatory Commission, ensuring clear responsibilities among decision-making, supervisory, and management bodies[134]. - The company has a performance evaluation and incentive mechanism in place for directors, supervisors, and senior management, which is transparent and compliant with legal regulations[139]. - The company has established specialized committees within the board, including a strategy committee and an audit committee, to enhance decision-making processes[137]. - The company has maintained independence in its operations, with no competition from the controlling shareholder's other businesses[145]. Employee and Community Engagement - The company has established a "Man Tie Assistance Fund" to support employees facing unexpected hardships[196]. - The company actively participates in social welfare activities, including donations and community support initiatives[198]. - The company has a strong governance structure and operates in accordance with the Company Law and Securities Law, with no serious violations reported[191]. - The company has implemented measures to ensure the protection of supplier and customer rights through fair business practices[197]. Financial Management - The company has a structured decision-making process for remuneration, with the shareholders' meeting determining the remuneration for directors and supervisors[164]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.5891 million[166]. - The company reported a total distributable profit of -69,373,722.90 CNY for the year 2021, indicating a negative profit situation[181]. - The cash dividend amount for the year was 0.00 CNY, with a cash dividend ratio of 0.00% of the total profit distribution[181].