JGBR(SZ:300421)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was CNY 973,904,660.69, representing a 23.69% increase compared to CNY 787,351,854.35 in 2020[16]. - The net profit attributable to shareholders for 2021 was CNY 90,330,808.06, a 49.06% increase from CNY 60,599,891.85 in 2020[16]. - The net profit after deducting non-recurring gains and losses was CNY 79,736,646.32, up 39.25% from CNY 57,261,237.88 in 2020[16]. - The basic earnings per share for 2021 was CNY 0.3726, an increase of 47.27% compared to CNY 0.2530 in 2020[16]. - The total assets at the end of 2021 were CNY 1,686,365,697.97, reflecting a 13.27% increase from CNY 1,488,849,291.80 at the end of 2020[16]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,231,850,175.13, a 6.45% increase from CNY 1,157,180,588.20 at the end of 2020[16]. - The net cash flow from operating activities for 2021 was CNY 20,546,581.28, a decrease of 76.37% compared to CNY 86,968,837.46 in 2020[16]. - The weighted average return on equity for 2021 was 7.55%, up from 5.37% in 2020[16]. Revenue Breakdown - The company's total revenue for Q1 was ¥245.53 million, Q2 was ¥254.06 million, Q3 was ¥252.21 million, and Q4 was ¥222.11 million, showing a decline in Q4 compared to previous quarters[18]. - Net profit attributable to shareholders for Q1 was ¥33.51 million, Q2 was ¥29.04 million, Q3 was ¥23.19 million, and Q4 dropped significantly to ¥4.60 million[18]. - The revenue from bearing manufacturing accounted for 98.89% of total revenue, with a year-on-year increase of 23.10%[57]. - The sales of roller products reached 50.88 million yuan, representing a growth of 51.29% year-on-year[49]. Research and Development - In 2021, the company's R&D investment reached CNY 50.14 million, a year-on-year increase of 34.58%, with 19 patents applied for, including 9 invention patents[53]. - The company has a total of 136 patents, including 46 invention patents, showcasing its strong innovation capabilities in precision bearing steel ball technology[43]. - The company is developing a non-destructive testing process for 10MW offshore wind power steel balls to enhance product quality and meet stringent industry standards[72]. - The company has developed an intelligent cleaning and packaging technology for high-end bearing steel balls, significantly improving production efficiency and reducing labor intensity[73]. Market Position and Strategy - The company is focusing on high-end precision rolling body production, which is expected to see increased market demand and concentration due to rising quality standards from major clients[26]. - The global bearing industry is dominated by eight major manufacturers, which hold over 70% of the market share, creating significant barriers for new entrants[32]. - The company aims to optimize technical parameters for rolling bodies to meet the specific requirements of various downstream markets, enhancing its market share in niche segments[28]. - The company is a leading domestic enterprise in the precision bearing steel ball sector, with sales revenue ranking first in China for several consecutive years[42]. Environmental and Social Responsibility - The company has implemented a wastewater treatment facility with a design capacity of 400 tons per day, ensuring compliance with environmental standards[173]. - The total annual discharge of chemical oxygen demand (COD) was reported at 23.59 tons, which is below the regulatory limit of 85.18 tons[172]. - The company has established an emergency response plan for environmental incidents, which has been filed with local environmental authorities[175]. - The company donated 250,000 RMB to the municipal charity foundation, demonstrating its commitment to social responsibility and community support[191]. Corporate Governance - The company held 8 board meetings and 4 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[118]. - The company disclosed 98 announcements in 2021, maintaining timely and accurate information disclosure[119]. - The company emphasized investor relations management, conducting online performance briefings and on-site research activities[119]. - The company maintains an independent procurement and sales system, ensuring that the selection of raw material suppliers is based on a homogeneous comparison principle[123]. Future Outlook - The company plans to establish an intelligent manufacturing laboratory and a professional team to achieve partial automation in manufacturing processes within five years and full digitalization within ten years[108]. - The company aims to cultivate a young talent pool and enhance its workforce through internal training and external recruitment, focusing on automation and information technology skills[109]. - The company faces risks related to potential underperformance in sales growth due to market conditions and customer demand fluctuations[110]. - The company is investing in new projects, including a new production line for precision conical rollers with an annual capacity of 16,000 tons, which is expected to enhance profitability[110].