YongLi(SZ:300230)2022-05-30 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 profit after tax for 2021 was ¥2.80 million, a decrease of 81.5% compared to ¥15.12 million in 2020[28]. - The company achieved a revenue of 3,213.21 million CNY, a slight increase of 0.13% year-on-year, indicating stable overall operations despite challenges from the pandemic and changes in business structure[80]. - Operating profit reached 257.23 million CNY, a significant increase of 157.29% year-on-year, primarily due to a low base from the previous year when impairment provisions were made[80]. Cash Flow and Investments - The net cash flow from operating activities decreased by 41.56% to CNY 297,114,652.30 from CNY 508,389,894.23 in 2020[23]. - The company’s cash flow from operating activities was 297.11 million CNY, a decrease of 41.56% year-on-year, attributed to rising raw material costs and changes in consolidation[80]. - Investment cash inflow surged by 274.65% to approximately $226.96 million, primarily due to increased investment income[116]. - Cash paid for the acquisition of fixed assets rose by 84.87% to approximately $256.15 million, indicating increased capital expenditures[117]. - The company reported a significant decrease in dividend distribution payments, down 95.45% to approximately $19.52 million[117]. Revenue Breakdown - Revenue from regions outside mainland China accounted for 37.41% of total income in 2021[5]. - Revenue from lightweight conveyor belts increased by 21.70% to ¥955,594,455.83, accounting for 29.74% of total revenue[95]. - Revenue from automotive and home appliance plastic parts decreased by 10.82% to ¥1,194,789,567.04, representing 37.18% of total revenue[95]. - Revenue from other regions grew by 7.60% to ¥1,201,945,183.32, while revenue from mainland China decreased by 3.85% to ¥2,011,261,661.32[95]. Operational Strategies - The company plans to focus on its core business and enhance cash flow reserves to improve risk resistance amid uncertainties caused by the COVID-19 pandemic[8]. - The company has actively adjusted its operational strategies to enhance competitiveness and reduce the impact of market fluctuations on its business[37]. - The company is focusing on high-end product development and market expansion to mitigate the impact of rising raw material costs and supply chain disruptions[34]. - The company plans to consolidate its leading position in the lightweight conveyor belt sector while actively expanding into other product lines like plastic chain belts[74]. Research and Development - The company submitted 9 patent applications and obtained 9 patents during the reporting period, enhancing its R&D capabilities[59]. - The company has established a comprehensive R&D system that combines independent and collaborative research, focusing on various material formulations and process improvements[61]. - Research and development expenses amounted to ¥115,909,216.14, a decrease of 4.79% compared to the previous year[112]. - The company’s R&D investment in 2021 was ¥115,916,376.53, representing 3.61% of total operating revenue[114]. Market Presence and Expansion - The company has expanded its international presence by establishing subsidiaries in multiple countries, enhancing its market influence and brand recognition[35]. - The company has established multiple subsidiaries and offices across China and internationally, enhancing its service network and market reach[65]. - The company is currently constructing projects in Shanghai and Anhui to increase production capacity by 10 million square meters[59]. - The company aims to become a world-class provider of lightweight conveyor belt solutions and expand its product line while penetrating the intelligent equipment sector[140]. Governance and Management - The company has established a fair and transparent performance evaluation and incentive mechanism for its directors and senior management[165]. - The company ensures timely and accurate information disclosure, maintaining good communication with investors through various channels[166]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, and finance[169]. - The company has a complete business system and independent procurement and sales systems[171]. Risks and Challenges - The company has established a risk management strategy to mitigate foreign exchange fluctuations, which could impact pricing and profitability[147]. - The domestic lightweight conveyor belt industry is rapidly developing, and the company faces risks from increasing competition and changing customer preferences[152]. - The precision molding business has established a competitive position through technology and quality, but market expansion risks may rise if the company fails to adapt to market changes[153]. - The company has expanded its overseas subsidiaries in various countries, but international political and economic factors may impact business development[154].