JASIC(SZ:300193)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,249,347,145.27, representing a 22.45% increase compared to ¥1,020,262,386.15 in 2020[21] - The net profit attributable to shareholders for 2021 was ¥200,473,971.95, up 23.33% from ¥162,547,422.34 in the previous year[21] - The net profit after deducting non-recurring gains and losses was ¥162,703,500.11, reflecting a 24.48% increase from ¥130,709,714.04 in 2020[21] - The basic earnings per share for 2021 was ¥0.41, a 20.59% increase from ¥0.34 in 2020[21] - The total assets at the end of 2021 amounted to ¥2,788,307,906.20, a 3.40% increase from ¥2,696,683,208.82 at the end of 2020[21] - The net assets attributable to shareholders at the end of 2021 were ¥2,255,289,106.98, showing a slight increase of 0.07% from ¥2,253,599,555.96 in 2020[21] - The weighted average return on net assets for 2021 was 9.32%, an increase of 2.00% from 7.32% in 2020[21] - The total revenue for the reporting period was CNY 1,249,347,145.27, representing a year-on-year increase of 22.45%[38] - The net profit attributable to shareholders was CNY 200,473,971.95, reflecting a growth of 23.33% compared to the previous year[38] - The company reported a total profit of CNY 226,964,100.10, which is a 20.34% increase from the previous year[38] Sales and Market Performance - Domestic sales revenue reached CNY 633,966,083.04, up 18.85% year-on-year, while international sales revenue was CNY 592,055,711.56, an increase of 27.06%[38] - The industrial segment accounted for 98.13% of total revenue, with sales amounting to ¥1,226,021,794.60, up 22.68% from ¥999,387,704.79 in the previous year[50] - Export sales increased by 27.06% to ¥592,055,711.56, while domestic sales rose by 18.85% to ¥633,966,083.04[50] - The company sold 1,133,160 units in 2021, marking a 23.80% increase from 915,320 units in 2020[53] - The production volume for the year was 1,200,054 units, up 24.44% from 964,341 units in 2020[53] Cash Flow and Investment - The net cash flow from operating activities decreased significantly by 68.73% to ¥73,267,845.11 from ¥234,269,899.82 in the previous year[21] - The total cash inflow from investment activities surged by 652.63% to ¥366,017,200.01, mainly due to an increase in the redemption of financial products[63][64] - The total amount of direct materials used in 2021 was ¥778,973,866.91, which constituted 89.36% of the total operating costs, reflecting a year-on-year increase of 28.20%[55] - The company’s total cash and cash equivalents increased by 145.32% to ¥74,227,939.00 in 2021[63][64] Research and Development - The company has maintained a leading position in the domestic welding equipment manufacturing sector, with strong R&D and innovation capabilities[34] - The company’s R&D expenses for 2021 were ¥69,167,322.26, representing 5.54% of total revenue, an increase of 17.11% compared to 2020[58][60] - The number of R&D personnel increased by 9.88% to 178, although their proportion of total employees decreased slightly to 12.98%[60] - The technology center is committed to investing in new product development and technological innovation, ensuring key projects are completed on schedule[83] Corporate Governance and Management - The company has a complete governance structure with independent boards and management, ensuring no interference from controlling shareholders[106] - The company maintains complete independence from its controlling shareholder, ensuring no reliance on them for business, personnel, assets, or financial matters[106] - The company has established a comprehensive investor relations management system to maintain good interactions with investors and uphold a standardized image in the capital market[104] - The company has a current board of directors consisting of 7 members, including 3 independent directors[112] - The company has undergone a board restructuring, with new independent directors elected on February 22, 2022, to enhance governance[116] Risk Management - The company faces risks including rising procurement costs, international sales risks, exchange rate risks, and capital management risks[4] - The company is exposed to international sales risks due to increasing political and trade conflicts, with a significant portion of its business reliant on exports[86] - The company is implementing measures to mitigate foreign exchange risks, particularly with USD settlements, by monitoring exchange rates and using appropriate hedging tools[87] - The supply chain center is enhancing risk management for commodity prices and increasing local sourcing to control procurement costs[83] Social Responsibility and Environmental Compliance - The company actively engages in social responsibility initiatives, including disaster relief efforts during natural disasters[167] - The company has established an environmental management system compliant with ISO 14001:2015 standards and has obtained certification from SGS[161] - The company has implemented measures to treat waste gas and wastewater, ensuring compliance with local environmental standards[159] - The company conducts regular environmental monitoring through qualified third-party agencies to ensure compliance with pollution discharge regulations[162] Employee Relations and Compensation - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 4.3225 million yuan[120] - The company has implemented a performance-based flexible salary system linked to its performance management system[136] - A restricted stock incentive plan and employee stock ownership plan were executed to motivate the core team and ensure steady performance improvement[136] - The company established the Jiasi Academy in June 2018 to provide systematic training for employees, enhancing their skills and professional development[137] Future Outlook and Strategic Initiatives - The company provided a positive outlook for 2022, projecting a revenue growth of 25% based on anticipated market expansion and new product launches[175] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[175] - A strategic acquisition of a local competitor is in progress, which is expected to increase the company's market share by 5% and enhance its product offerings[174] - The management team has set a goal to reduce operational costs by 15% through improved efficiency measures in 2022[174]