YongLi(SZ:300230)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,213,206,844.64, a slight increase of 0.13% compared to CNY 3,208,881,015.95 in 2020[23]. - Net profit attributable to shareholders was CNY 200,692,252.44, representing a significant increase of 136.84% from a loss of CNY 544,777,190.65 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 197,890,210.61, up 135.34% from a loss of CNY 559,898,083.61 in 2020[23]. - Basic earnings per share increased to CNY 0.2459 from a loss of CNY 0.6675 in the previous year, marking a 136.84% improvement[23]. - The company's total revenue for 2021 was CNY 3,213,206,844.64, with revenue from regions outside mainland China accounting for 37.41%[57]. - The company achieved a revenue of 3,213.21 million CNY, a slight increase of 0.13% year-on-year, despite challenges from the pandemic and the exclusion of the Yingdong Molding segment in Q4[77]. - Operating profit reached 257.23 million CNY, representing a significant increase of 157.29% year-on-year, primarily due to a low base from the previous year[77]. - The company reported a net cash flow from operating activities of 297.11 million CNY, a decrease of 41.56% year-on-year, attributed to rising raw material costs and the exclusion of Yingdong Molding from consolidation[77]. Asset Management - The company's goodwill on the consolidated balance sheet was valued at ¥144,979,441.22 at the end of the reporting period, highlighting potential impairment risks[7]. - Total assets at the end of 2021 were CNY 3,422,660,798.74, a decrease of 15.14% from CNY 4,033,435,031.33 at the end of 2020[23]. - Net assets attributable to shareholders increased by 7.53% to CNY 2,343,639,640.95 from CNY 2,179,520,299.41 in 2020[23]. - The company recorded a significant decrease in fixed assets to ¥554,539,205.02, which is 16.20% of total assets, down by 2.19% due to the disposal of Qingdao Yingdong[118]. - Accounts receivable decreased to ¥487,293,281.90, accounting for 14.24% of total assets, down by 3.20% due to the disposal of 100% equity in Qingdao Yingdong[118]. - Inventory decreased to ¥434,748,036.89, making up 12.70% of total assets, a reduction of 2.38% attributed to the same equity disposal[118]. - The company recorded a decrease in goodwill to ¥144,979,441.22, which is 4.24% of total assets, down by 0.94% due to the disposal of Qingdao Yingdong[118]. Strategic Focus and Business Operations - The company plans to focus on core operations and enhance cash flow reserves to mitigate risks associated with the ongoing COVID-19 pandemic[9]. - The company aims to enhance competitiveness through refined management and strategic procurement to mitigate raw material price fluctuations[34]. - The company is currently constructing projects in Shanghai and Anhui to increase production capacity by 10 million square meters[56]. - The company plans to consolidate its leading position in the lightweight conveyor belt sector while expanding into plastic chain conveyor belts and other product lines[71]. - The company is focusing on long-term investments and strategic partnerships to enhance market presence and product offerings[126]. - The company is actively pursuing new product development and market expansion strategies[126]. - The company has established a comprehensive service model for precision molding products, focusing on high-end brand clients in the automotive and home appliance industries[51]. Market and Industry Trends - The lightweight conveyor belt industry saw a 29.9% year-on-year increase in express service volume, reaching 1,083 billion items in 2021, driving demand for conveyor belts[32]. - The precision molding business experienced a decline due to the sale of the Yingdong molding segment, impacting automotive and home appliance sectors[36]. - The precision molding segment, Weifeng International, generated revenue of 1.06 billion RMB, down 1.95% year-on-year, impacted by the pandemic and changes in product sales structure[81]. - The lightweight conveyor belts are utilized across numerous downstream industries, including food processing, logistics, agriculture, and construction materials[41]. - The company’s overseas business generated significant revenue, with a focus on lightweight conveyor belts and precision molded products[96]. Research and Development - The company submitted 9 patent applications and obtained 9 patents in the lightweight conveyor belt sector during the reporting period[56]. - The number of R&D personnel increased by 1.16% to 349, with the proportion of R&D personnel rising to 8.94% of the total workforce[111]. - The R&D investment for 2021 was ¥115,916,376.53, representing 3.61% of the operating revenue[111]. - The company is focusing on R&D for new technologies, with an investment of CNY 2 million allocated for the development of advanced materials[190]. Governance and Management - The company is committed to enhancing its governance structure and management capabilities, including the introduction of effective performance evaluation and talent management systems to align with its group development strategy[153]. - The board of directors held 9 meetings during the reporting period to review significant matters such as external investments and internal controls, ensuring compliance with legal and regulatory requirements[160]. - The company has established a transparent performance evaluation and incentive mechanism for its executives, aligning with its current development status[163]. - The company has appointed independent directors and supervisors, ensuring governance independence[176]. - The company has a diverse management team with extensive backgrounds in finance, law, and engineering, enhancing its strategic capabilities[182][183]. Future Outlook - Future outlook indicates a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[190]. - The company plans to pursue strategic acquisitions to enhance its product portfolio, targeting a completion of at least one acquisition by Q3 2022[190]. - The company aims to enhance production capacity and smart manufacturing by constructing a new production line in Nantong and a smart manufacturing base in Guangde[140].