SHEN YU(SZ:300563)2022-03-28 16:00Financial Performance - The company's operating revenue for 2021 was ¥839,656,623.33, representing a 35.10% increase compared to ¥621,487,603.26 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥69,694,323.84, a 12.70% increase from ¥61,841,873.94 in the previous year[19]. - The net cash flow from operating activities increased by 69.12% to ¥87,937,232.10 in 2021, up from ¥51,996,018.92 in 2020[19]. - The basic earnings per share for 2021 was ¥0.39, a 5.41% increase from ¥0.37 in 2020[19]. - Total assets at the end of 2021 were ¥1,263,155,655.45, reflecting a 14.91% increase from ¥1,099,209,994.45 at the end of 2020[19]. - The net assets attributable to shareholders at the end of 2021 were ¥937,705,978.87, a 3.36% increase from ¥907,196,310.31 in 2020[19]. - The company reported a weighted average return on equity of 7.65% for 2021, down from 8.62% in 2020[19]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥59,237,937.09, a 6.10% increase from ¥55,830,435.11 in 2020[19]. Revenue Breakdown - The company's total revenue for Q4 was approximately 238.34 million, showing a significant increase compared to Q1's 201.43 million and Q2's 165.63 million[21]. - The net profit attributable to shareholders for Q3 was approximately 21.30 million, which is a 39.5% increase from Q2's 15.28 million[21]. - The net cash flow from operating activities in Q4 reached approximately 35.59 million, a notable increase from Q3's 14.39 million[21]. - Sales revenue from RF coaxial cables and components reached 565.08 million yuan, an increase of 18.42% compared to the previous year[41]. - The communication equipment sector contributed ¥565,081,091.62, accounting for 67.30% of total revenue, with an 18.42% increase from the previous year[68]. - The electronic materials sector saw a significant growth of 96.39%, generating ¥243,484,675.06, which is 29.00% of total revenue[68]. Market and Product Development - The company has successfully developed full-band cable components and stable amplitude and phase high-frequency cables, achieving import substitution[32]. - The overall market size for RF coaxial cables used in medical devices is estimated to exceed 10 billion, indicating strong demand for domestic alternatives[32]. - The automotive electronics market for RF coaxial cables is also projected to exceed 10 billion, driven by the increasing integration of smart electronic products in vehicles[32]. - The demand for RF coaxial cables has surged due to the COVID-19 pandemic, particularly in wireless communication products like laptops and routers[33]. - The rapid development of 5G technology is expected to significantly boost the demand for RF coaxial cables, particularly in consumer electronics[29]. - The company is actively expanding its product offerings into medical and aerospace RF coaxial cables, enhancing product value and technical capabilities[42]. - The company has developed a one-stop multi-target service platform to meet customized demands from clients, enhancing its competitive edge[34]. - The company is focusing on expanding into new markets such as aerospace, medical devices, and automotive electronics as part of its strategic goals[59]. Research and Development - The company holds 109 authorized patents, including 34 invention patents and 75 utility model patents, reflecting its strong emphasis on technology research and development[43]. - Research and development expenses increased by 18%, totaling 150 million RMB, to support innovation in new technologies[46]. - The company invested ¥21,848,600 in R&D in 2021, which is 2.60% of total revenue, and 4.09% of the parent company's revenue[63]. - The company is developing high-frequency, low-loss RF coaxial cables for aviation communication, which are expected to enhance technological innovation capabilities and contribute to national defense[79]. Strategic Initiatives - The company has implemented a strategy of "one main body, four directions," which has opened up significant growth opportunities for its products[42]. - The company plans to invest 200 million RMB in expanding its production capacity over the next year[46]. - The company aims to enhance its scale and profitability by expanding into downstream markets for wireless communication, responding to national policies, and increasing product R&D efforts[110]. - The company plans to focus on four strategic development directions: aerospace RF coaxial cables, high-end medical device cables, high-speed data transmission cables, and automotive communication cables[111]. Governance and Management - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear division of responsibilities and mutual checks and balances[128]. - The board of directors consists of 7 members, including 3 independent directors, and has established 4 specialized committees to enhance decision-making processes[131]. - The company has developed and implemented a series of internal control regulations tailored to its operational characteristics, ensuring effective management[134]. - The company maintains a strict information disclosure system, utilizing designated platforms for timely and accurate communication with investors[135]. - The company has established a comprehensive supervision mechanism to promote standardized operations[168]. Employee and Talent Management - The total number of employees at the end of the reporting period was 546, with 513 in the parent company and 33 in major subsidiaries[172]. - The company has a professional composition of 385 production personnel, 22 sales personnel, 98 technical personnel, 9 financial personnel, and 32 administrative personnel[172]. - The company has a training plan that includes new employee orientation, professional skills training, and backup cadre training to enhance employee capabilities[174]. - The company emphasizes a talent development strategy, planning to invite external training institutions for employee training in the future[175]. Profit Distribution - The company has established a profit distribution policy that prioritizes cash dividends, with a minimum cash dividend ratio of 20% of the distributable profit for the year[179]. - For the 2021 profit distribution plan, the company proposed a cash dividend of RMB 0.90 per 10 shares, amounting to RMB 15,991,427.34, based on a total share count of 177,682,526 shares[187]. - The total cash dividend for the reporting period accounted for 100% of the total distributable profits of RMB 345,365,247.64[184].