Youngy Health(SZ:300247)2022-04-24 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥526.50 million, representing a 2.42% increase compared to ¥514.08 million in 2020[22]. - The net profit attributable to shareholders for 2021 was approximately ¥24.20 million, a significant turnaround from a loss of ¥65.73 million in 2020, marking a 136.82% improvement[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥4.98 million, compared to a loss of ¥68.17 million in the previous year, reflecting a 107.31% increase[22]. - The company's total assets at the end of 2021 were approximately ¥1.02 billion, an increase of 6.86% from ¥956.58 million at the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥831.43 million, up 2.86% from ¥808.30 million at the end of 2020[22]. - The basic earnings per share for 2021 were ¥0.03, compared to a loss of ¥0.08 per share in 2020, indicating a 137.50% improvement[22]. - The weighted average return on net assets for 2021 was 2.95%, a significant increase from -7.79% in 2020[22]. - The net cash flow from operating activities for 2021 was approximately ¥10.82 million, a decrease of 86.63% from ¥80.97 million in 2020[22]. Revenue Breakdown - The company's total revenue for Q1 2021 was approximately CNY 141.96 million, with a net profit attributable to shareholders of CNY 8.19 million[27]. - In Q2 2021, the company reported revenue of CNY 126.45 million and a net profit of CNY 602,582.17[27]. - The company achieved total operating revenue of CNY 526.50 million in 2021, representing a year-on-year growth of 2.42%[44]. - Net profit attributable to shareholders reached CNY 24.20 million, a significant increase of 136.82% compared to the previous year[44]. - Sales revenue from infrared therapy rooms increased by 3.67% to CNY 275.60 million, accounting for 52.35% of total revenue[45]. - Air purification product sales surged by 70.41% to CNY 77.51 million, representing 14.72% of total revenue[49]. - The company sold 38,576 infrared therapy devices in 2021, a 12.15% increase from 34,398 units in 2020[50]. - The air purification series saw a remarkable sales volume increase of 100.70%, with 181,663 units sold compared to 90,513 units in the previous year[51]. Investments and Cash Flow - The net cash flow from investing activities turned negative at -¥69,261,623.54, a decrease of 273.99% year-on-year, attributed to increased purchases of bank wealth management products and term deposits[61]. - The net cash flow from financing activities improved by 84.48%, resulting in a net cash outflow of -¥5,696,896.85, as the company had no bank borrowings or interest repayments during the reporting period[61]. - Total investments during the reporting period amounted to ¥149,220,000, reflecting a year-on-year increase of 22.36% from ¥121,946,015[72]. - The company's cash and cash equivalents decreased by 192.87% to -¥68,661,101.30, primarily due to procurement payments and investments in bank wealth management products[60]. - Investment income contributed ¥7,252,074.22, accounting for 19.20% of total profit, with sustainable income from bank wealth management products[64]. - Fair value gains amounted to ¥15,862,813.46, representing 42.00% of total profit, also linked to bank wealth management products[64]. Research and Development - R&D expenses slightly increased by 0.81% to ¥13,515,661.18, accounting for 2.57% of total revenue[58]. - The number of R&D personnel rose by 16.18% to 79, with their proportion of total employees increasing to 11.92%[58]. - The company is in the functional testing phase for a smart health control system for sauna rooms, aiming to enhance product competitiveness[57]. - A new air purifier product is in the verification stage, designed to meet diverse user needs with features like UVC sterilization and negative ion purification[57]. - The company has completed the development of a compact massage chair targeting young professional women, which is now in mass production[58]. - The R&D investment in 2021 was ¥13,515,661.18, a slight increase from the previous year, maintaining a stable investment strategy[58]. Market and Industry Outlook - The health industry in China had a market size of CNY 7.24 trillion in 2020, with significant growth potential driven by policy support and an aging population[32]. - The health service industry is projected to reach a total scale of CNY 16 trillion by 2030, indicating strong future growth prospects[33]. - The company aims to achieve a compound annual growth rate of 8.3% in the health service industry by 2030, reaching a total scale of 16 trillion yuan[88]. Corporate Governance - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring complete operational autonomy[117]. - The annual shareholders' meeting had a participation rate of 22.32%[119]. - There were no significant discrepancies between the company's governance practices and the regulations set by the China Securities Regulatory Commission[116]. - The company has a strong governance structure that complies with relevant laws and regulations[116]. - The board of directors includes experienced members with extensive backgrounds in finance and industry, enhancing strategic decision-making[123][124]. Risk Management - The company has outlined potential risks and countermeasures in its future development outlook, emphasizing the importance of risk awareness for investors[5]. - The company faces risks from a complex macroeconomic environment, including potential reductions in foreign trade orders due to factors like the pandemic and international transport issues[97]. - To mitigate competition risks, the company will accelerate new product development, optimize product structure, and enhance brand value to increase market share[99]. - The company is actively optimizing its supply chain to manage the risk of raw material price fluctuations, which significantly impact operating costs[101]. Employee and Stakeholder Relations - The company emphasizes the importance of stakeholder communication to balance interests among shareholders, employees, and society[115]. - The total number of employees at the end of the reporting period is 663, with 383 in the parent company and 280 in major subsidiaries[149]. - The employee composition includes 433 production personnel, 79 sales personnel, 79 technical personnel, 22 financial personnel, and 50 administrative personnel[149]. - The company emphasizes its commitment to employee rights, ensuring reasonable income growth and promoting a safe working environment[164]. Legal and Compliance - The company is currently involved in several legal disputes, with a total amount of 1,343.54 million RMB in one case and 809.95 million RMB in another, both of which are ongoing[178]. - The company has confirmed that it and its controlling shareholders have no records of legal violations or dishonesty[181]. - The company has maintained compliance with environmental regulations, confirming it is not classified as a key pollutant unit and has not faced any administrative penalties during the reporting period[164].