SACA(SZ:300464)2022-04-25 16:00Financial Performance - The company reported a revenue of 3.66 billion RMB for the year, a decrease of 33.74% compared to the previous year[6]. - The net profit attributable to shareholders was -1.52 billion RMB, with a net profit of -1.58 billion RMB after deducting non-recurring gains and losses[6]. - The company's operating revenue for 2021 was ¥3,659,752,249.38, a decrease of 33.74% compared to ¥5,522,961,491.98 in 2020[24]. - The net profit attributable to shareholders was -¥1,523,629,920.80, representing a decline of 819.60% from a profit of ¥211,731,685.93 in 2020[24]. - The total revenue for the year 2021 was approximately 3,662,000,000 CNY, a decrease of 39.75% compared to 2020[71]. - The company reported a net profit attributable to shareholders of -1,520,942,443.78 yuan for the fiscal year 2021[158]. Revenue Breakdown - The cross-border e-commerce business generated a revenue of 2.58 billion RMB, down 46.02% year-on-year, while the precision hardware business achieved a revenue of 1.05 billion RMB, an increase of 44.38%[6]. - Revenue from non-Amazon channels, including self-operated platforms and Walmart, reached 617 million RMB, a year-on-year increase of 96.02%[7]. - The cross-border e-commerce business generated a total revenue of 6.05 billion RMB from non-Amazon channels, a 92.06% increase compared to 3.15 billion RMB in 2020, accounting for 23.47% of total cross-border e-commerce revenue[48]. - Amazon sales dropped by 55.76%, contributing 76.54% of total revenue in 2021, down from 93.40% in 2020[50]. - The small home appliance category generated CNY 1.04 billion in 2021, representing 40.34% of total revenue, down 42.11% year-over-year[52]. Operational Challenges - The company faced significant impacts from the "Amazon account suspension" incident, leading to a goodwill impairment provision of 677 million RMB and inventory write-down provision of 416 million RMB[6]. - The company recognized an impairment provision of CNY 680 million for goodwill related to the Zebaotech asset group[64]. - The company reported a significant asset impairment of ¥1,131,682,487.52, accounting for 71.58% of total profit, primarily due to goodwill and inventory write-downs[95]. Strategic Initiatives - The company plans to adopt a multi-platform online operation strategy and enhance offline channel promotion to mitigate the impact of the Amazon incident[6]. - The company has established a multi-platform strategy, expanding sales channels to Walmart, eBay, Rakuten, and Newegg, reducing reliance on Amazon[48]. - The company plans to enhance its cross-border e-commerce and precision hardware dual business strategy, focusing on product innovation and brand development[111]. - The company aims to optimize its organizational structure and personnel allocation to enhance per capita output[112]. - The company is actively expanding its market presence in the US, Europe, Japan, and emerging markets in Asia-Pacific[112]. Research and Development - The company has invested in R&D for smart home appliances, launching a new generation of 4K short-throw laser TVs that raised over 4 million USD on Indiegogo in the first day of crowdfunding[46]. - The company is committed to continuous innovation in product development, particularly in smart home appliances and video technology[59]. - The company’s R&D investment in 2021 amounted to ¥111,905,276.53, representing 3.06% of total operating revenue, an increase from 2.43% in 2020[90]. - The company has introduced new products, including a hinge system with a self-closing feature, which is expected to enhance market competitiveness and fill product line gaps[89]. Governance and Management - The company held one annual general meeting and two extraordinary general meetings during the reporting period, all convened by the board of directors[120]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, overseen by the remuneration and assessment committee[122]. - The company emphasizes information disclosure, ensuring timely and accurate communication with investors through various channels[122]. - The company has a history of strong governance with independent directors and a well-structured supervisory board[132]. Future Outlook - Future guidance indicates a projected revenue growth of approximately 15% for the next fiscal year[140]. - The company provided a positive outlook for 2022, projecting a revenue growth of 15% to 1.725 billion RMB, driven by new product launches and market expansion efforts[188]. - Looking ahead, the company projects a revenue growth of 10% for 2022, targeting 1.32 billion yuan[184]. Employee and Labor Relations - The company reported a total of 1,778 employees at the end of the reporting period, with 539 in the parent company and 1,239 in major subsidiaries[149]. - The employee composition includes 656 production personnel, 418 sales personnel, 426 technical personnel, 53 financial personnel, and 225 administrative personnel[149]. - The company emphasizes talent development through internal and external training resources, enhancing overall employee quality and management capabilities[152]. Environmental and Social Responsibility - The company maintains a strong commitment to environmental protection, with no administrative penalties related to environmental issues during the reporting period[171]. - The company has engaged in community support initiatives, including donations to local elderly care facilities and assistance for underprivileged employees[175]. - The company emphasizes the protection of supplier, customer, and consumer rights, fostering long-term strategic partnerships based on integrity[173].