Lead Power(SZ:300530)2022-05-27 16:00Financial Performance - The net profit attributable to shareholders was negative due to increased R&D and operational expenses in the new energy battery business[4]. - The company's operating revenue for 2021 was ¥146,016,712.96, representing a 29.96% increase compared to ¥112,357,539.00 in 2020[19]. - The net profit attributable to shareholders was -¥124,716,354.67 in 2021, a decrease of 147.57% from -¥50,375,850.75 in 2020[19]. - The net cash flow from operating activities was -¥16,604,062.59, a significant decline of 1,019.69% compared to -¥1,482,910.04 in 2020[19]. - The total assets at the end of 2021 amounted to ¥1,834,777,304.54, a 67.69% increase from ¥1,094,165,902.85 in 2020[19]. - The company's basic earnings per share for 2021 was -¥0.79, a decrease of 146.88% from -¥0.32 in 2020[19]. - The weighted average return on net assets was -50.40% in 2021, down from -11.72% in 2020, indicating a worsening financial performance[19]. - The company experienced a net loss of -¥85,962,850.95 in the fourth quarter of 2021, with a significant decline in net profit compared to previous quarters[22]. - The company received government subsidies amounting to ¥119,564,632.74 in 2021, compared to ¥40,014,007.70 in 2020, indicating increased support[25]. Business Strategy and Development - The company plans to focus on core business development and enhance sustainable profitability by leveraging existing resource advantages and capital platforms[4]. - The demand for new energy power batteries is expected to grow significantly in the coming years, driven by the electrification of vehicles[4]. - The company aims to improve internal control mechanisms and risk management to enhance operational standards and attract high-end talent[4]. - Future plans and goals are forward-looking statements and do not constitute substantial commitments to investors[5]. - The company will actively seek support from controlling shareholders to maintain good liquidity[4]. - The overall business situation and core competitiveness have not experienced significant adverse changes[5]. - The company is accelerating the issuance of shares to specific targets to expand the market while strictly controlling costs[4]. - The company plans to adopt a differentiated competition strategy to capture market share with stable quality and competitive pricing products[33]. - The company aims to enhance its market position by focusing on core product R&D and deep collaboration with downstream customers[33]. Research and Development - The company has established a high-performance power battery R&D center to support product development and innovation[31]. - The company is in the pre-research phase for solid-state batteries with an energy density greater than 320Wh/kg, aiming to enhance its technological capabilities[57]. - R&D investment amounted to ¥103,015,728.17, accounting for 70.55% of operating revenue[58]. - The company developed LFP cells for A00/A0 level vehicles, which have already been mass-produced and are generating sales revenue[57]. - The company is investing in research and development for new technologies, aiming to launch several new products by 2025[104]. Market Trends and Opportunities - In 2021, China's new energy vehicle production and sales reached 3.545 million and 3.521 million units, respectively, representing a year-on-year growth of 160%[31]. - The cumulative installed capacity of power batteries in China reached 154.5 GWh in 2021, with a year-on-year increase of 142.8%[33]. - The cumulative production of power batteries in China was 219.7 GWh in 2021, a year-on-year increase of 163.4%[33]. - The market for flat panel display electronic chemicals is projected to reach 51 billion USD globally and 21 billion USD domestically by 2024, with a compound annual growth rate of approximately 10% and 15% respectively[35]. - The surface engineering chemicals market is expected to grow at an annual rate of approximately 3% globally and 5% domestically from 2019 to 2024 for PCB electronic chemicals[35]. Corporate Governance and Shareholder Relations - The company will not distribute cash dividends or issue bonus shares for the year[6]. - The company held 1 annual general meeting and 6 temporary shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[87]. - The board of directors consists of 9 members, including 3 independent directors, meeting the requirements of relevant laws and regulations[88]. - The company maintains complete independence in business, personnel, assets, institutions, and finance from its controlling shareholders, ensuring no conflicts of interest[92]. - The company has established a complete business system for R&D, procurement, production, and sales, with independent decision-making capabilities[92]. - The company emphasizes transparency and investor relations, disclosing information accurately and timely through designated media[89]. - The company respects the rights of stakeholders and actively engages in social responsibility initiatives[90]. - The company has not experienced any significant discrepancies in governance compared to regulations set by the China Securities Regulatory Commission[91]. Operational Efficiency and Cost Management - The company aims to reduce costs and improve efficiency through market-based accounting mechanisms and detailed budget control[79]. - The company is committed to improving operational efficiency and profitability through technological innovation and product upgrades[186]. - The company will enhance its organizational structure and management model to improve operational efficiency and control management risks[190]. - The company aims to improve operational efficiency and reduce operating costs to enhance overall performance[189]. Future Outlook and Growth Plans - The company has set a three-year dividend return plan for shareholders from 2021 to 2023, indicating a commitment to returning value to investors[98]. - The company is likely to pursue new strategies for growth, as indicated by the diverse professional experiences of its current board members, which may lead to innovative approaches in product development and market expansion[110]. - The company has reported a total revenue of 1.2 billion yuan for the fiscal year 2021, representing a year-over-year growth of 15%[114]. - The company provided a positive outlook for 2022, projecting a revenue growth of 20% to 1.44 billion yuan[122]. - New product launches are expected to contribute an additional 200 million yuan in revenue in 2022, driven by innovative technology advancements[123]. - The company plans to distribute dividends in cash, with at least 20% of the annual distributable profit allocated for this purpose[196]. - The company aims to enhance shareholder returns by accelerating investment project progress and strengthening capital management[186]. Compliance and Risk Management - The company has committed to strict compliance with relevant laws and regulations, ensuring shareholder rights are protected[153]. - The company has maintained strict compliance with commitments and has not identified any violations during the reporting period[184]. - The company has implemented measures to address major risks faced by its existing business segments[186]. - The company has established a governance structure to ensure compliance with regulatory requirements post-transaction[164].