天银机电(300342) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,039,148,999.38, representing a 15.67% increase compared to ¥898,386,035.02 in 2020[17] - The net profit attributable to shareholders for 2021 was ¥99,630,736.61, a decrease of 21.91% from ¥127,579,308.33 in 2020[17] - The net profit after deducting non-recurring gains and losses was ¥92,517,583.95, down 23.90% from ¥121,569,488.32 in the previous year[17] - The net cash flow from operating activities was ¥38,530,009.97, a significant decline of 78.10% compared to ¥175,941,651.63 in 2020[17] - Basic earnings per share for 2021 were ¥0.23, a decrease of 23.33% from ¥0.30 in 2020[17] - The total assets at the end of 2021 were ¥2,264,126,887.37, an increase of 8.61% from ¥2,084,657,267.24 at the end of 2020[17] - The net assets attributable to shareholders at the end of 2021 were ¥1,535,005,601.61, up 2.28% from ¥1,500,792,413.99 at the end of 2020[17] - The weighted average return on equity for 2021 was 6.58%, down from 8.77% in 2020[17] Revenue Breakdown - In 2021, the company's total revenue for the four quarters was approximately CNY 1.04 billion, with the highest revenue in Q4 at CNY 321.22 million, representing a 40% increase from Q1[19] - The net profit attributable to shareholders for the year was CNY 99.63 million, with Q2 showing the highest quarterly profit of CNY 37.02 million[19] - The revenue from refrigerator compressor components reached 715.93 million CNY, up 18.19% year-on-year[57] - The sales volume of refrigerator compressor starters and protectors was 49.49 million units, a year-on-year increase of 5.59%[57] - The sales volume of silencer products increased by 34.24% year-on-year, reaching 55.16 million units[57] - The company’s foreign sales revenue for refrigerator compressor components was 65.38 million CNY, a growth of 61.61% compared to the previous year[58] - The foreign sales revenue accounted for 9.13% of total revenue, indicating a relatively small proportion[58] - Domestic sales contributed CNY 972.43 million, which is 93.71% of total revenue, showing a growth of 13.42% year-on-year[63] Research and Development - The company has continuously increased R&D investment, enhancing product quality and maintaining a leading market share and brand recognition in the industry[40] - The company’s R&D expenses increased by 11.83% to CNY 92.64 million, reflecting ongoing investment in new technologies[72] - The number of R&D personnel increased by 1.33% to 381 in 2021, with a higher proportion of bachelor's degree holders at 59.6%[75] - The company is focusing on R&D, allocating 10% of its revenue towards innovation and technology advancements[140] - New product development includes the launch of a low-power starter, which is expected to enhance market competitiveness[144] Market Position and Strategy - The company has established itself as a leading supplier in the refrigerator compressor parts industry, serving major domestic manufacturers like Gree and Midea[27] - The company has a stable market share in the refrigerator compressor parts industry, despite challenges in the overall appliance market[28] - The company aims to enhance its market share in the military electronics sector by focusing on electronic technology and expanding its radar and aerospace electronics business[100] - The company is actively expanding its market presence in Europe, Southeast Asia, and South America while strengthening its domestic market share[105] - The company anticipates growth in the refrigerator compressor parts business despite challenges from the COVID-19 pandemic and supply chain disruptions[96] Governance and Compliance - The company has established a complete and independent production, sales, procurement, and R&D system, ensuring operational independence from its controlling shareholder[122] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards and enhancing decision-making capabilities[117] - The company adheres to legal and regulatory requirements for information disclosure, ensuring transparency and equal access to information for all shareholders[121] - The company has implemented a governance structure that complies with the Corporate Law and relevant regulations, enhancing its governance level[114] - The company has established a sound internal control system to regulate operations and improve governance standards[114] Employee and Social Responsibility - The total number of employees at the end of the reporting period was 1,131, with 516 in the parent company and 615 in major subsidiaries[168] - The company emphasizes a comprehensive salary management system and incentive mechanisms to align employee interests with company goals[169] - The company is committed to continuous improvement in employee training and development to stimulate learning and growth[171] - The company actively participates in social welfare initiatives, aiming to contribute to societal harmony and fulfill its social responsibilities[193] - The company maintains a strong commitment to environmental protection and sustainable development, promoting a green and low-carbon philosophy[193] Dividend Policy - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares, totaling 63,755,266.95 CNY (including tax) based on a share base of 425,035,113 shares after deducting treasury shares[173] - The cash dividend distribution plan for 2021 proposes a cash dividend of 1.00 CNY per 10 shares, amounting to 42,503,511.30 CNY (including tax), pending shareholder approval[177] - The company maintains a cash dividend policy where the cash dividend proportion should be at least 80% during the mature development stage, with the current distribution being 100% of the distributable profit[175] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[140] - The company aims to enhance its operational efficiency and financial performance in the upcoming fiscal year[136] - The management team emphasized the importance of sustainability in future strategies, aiming for a 30% reduction in carbon emissions by 2025[140]