SILVER(SZ:300221)2022-04-24 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥2.25 billion, representing a 37.35% increase compared to ¥1.64 billion in 2020[19]. - The net profit attributable to shareholders decreased by 27.29% to approximately ¥73.46 million in 2021 from ¥101.03 million in 2020[19]. - The net profit after deducting non-recurring gains and losses fell by 58.36% to approximately ¥38.23 million in 2021 from ¥91.83 million in 2020[19]. - The net cash flow from operating activities was negative at approximately -¥94.18 million, a decline of 170.22% compared to ¥134.13 million in 2020[19]. - The total assets at the end of 2021 were approximately ¥1.95 billion, an increase of 22.25% from ¥1.60 billion at the end of 2020[19]. - The net assets attributable to shareholders increased by 9.68% to approximately ¥1.15 billion at the end of 2021 from ¥1.05 billion at the end of 2020[19]. - The company reported a basic earnings per share of ¥0.1644, down 26.77% from ¥0.2245 in 2020[19]. - The company achieved a revenue of CNY 2,253.40 million in 2021, representing a year-on-year growth of 37.35%[49]. - The net profit attributable to the parent company was CNY 73.46 million, a decrease of 27.29% compared to the previous year, primarily due to rising raw material prices and increased stock incentive expenses of CNY 37.34 million[49]. - The modified plastic business generated revenue of CNY 1,749.22 million, an increase of 25.92% year-on-year, while the gross margin decreased by 3.57%[50]. - The smart lighting segment saw a revenue increase of 101.15% to CNY 45.78 million, with a net profit of CNY 1.99 million, up 501.39%[51]. Market and Industry Trends - The modified plastics industry in China grew from 7.8 million tons in 2010 to 22.5 million tons in 2021, with a compound annual growth rate of 12.5%[29]. - The company anticipates continued growth potential in the modified plastics sector due to expanding application fields[29]. - The global demand for modified plastics was approximately 11 million tons in 2021, with an expected growth rate of around 3%, reaching 13 million tons by 2026[30]. - The smart lighting market was valued at $10.85 billion in 2020, with an anticipated growth to $46.9 billion by 2028, reflecting a compound annual growth rate (CAGR) of 20.4%[32]. - The Chinese smart lighting market is expected to reach 43.1 billion yuan in 2022, with a growth rate of approximately 23%[32]. Research and Development - The company has developed 90 patents, including 82 invention patents, enhancing its competitive edge in the modified plastics sector[39]. - The company has significantly increased its R&D efforts in smart lighting, resulting in 19 new patents in 2021 alone[45]. - The company has established multiple R&D and manufacturing bases across various regions to support its strategic growth and market development[34]. - The company’s R&D investment amounted to CNY 105,850,363.10, representing 4.70% of operating revenue[69]. - The number of R&D personnel increased by 8.09% to 147, with the proportion of R&D staff rising to 15.90%[69]. Governance and Management - The company has a structured governance framework with a board of directors and supervisory board in place to oversee operations[4]. - The company held three shareholder meetings in 2021, ensuring compliance with governance standards and protecting shareholder rights[109]. - The company conducted a total of 11 board meetings in 2021, demonstrating active governance and oversight[110]. - The company has a complete and independent business structure, with no competition from the former controlling shareholder[113]. - The company emphasizes transparency and timely information disclosure, enhancing investor relations management[111]. Risk Management - The company emphasizes the importance of risk awareness regarding raw material price fluctuations, intensified market competition, and potential loss of technical personnel[5]. - The company has established a long-term cooperative relationship with key suppliers to mitigate risks associated with raw material price volatility[96]. - The company has faced risks related to market competition and the need for continuous technological advancement[95]. Environmental and Social Responsibility - The company has obtained various environmental permits, including pollution discharge permits valid until September 2023[43]. - The company actively fulfills its social responsibilities, providing continuous support to impoverished students, including funding for 7 students in Xinjiang in 2021[174]. - The company has implemented measures to reduce carbon emissions and maintained normal operation of air pollution control facilities, with no environmental pollution incidents reported in 2021[173]. - The company has established environmental monitoring protocols, hiring third-party agencies for regular assessments in compliance with national standards[173]. Employee Relations - The company has established a competitive employee benefits system to attract and retain top research personnel, including profit-sharing and patent rewards for core technical staff[98]. - The total number of employees at the end of the reporting period was 922, with 411 in production, 122 in sales, 147 in technical roles, 33 in finance, and 209 in administration[146]. - The company has implemented a comprehensive training program to improve employee skills and performance, including various training categories and a campus recruitment initiative[148]. Strategic Initiatives - The company plans to enhance its production capacity for modified polymers and expand its market presence in central, northern, and southern China[34]. - The company aims to enhance its operational management and expand its customer base to improve overall competitiveness in the modified plastics industry[102]. - The company plans to invest up to 300 million yuan in the "Yinxi New Materials Zhuhai Production Base" and up to 600 million yuan in the "Yinxi Polymer New Materials Industrial Park" projects[100]. - The company is committed to maintaining high standards of corporate governance and transparency, as evidenced by its independent board members[127].