晨曦航空(300581) - 2021 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2021 was 26.72 million yuan, a decrease of 57.55% compared to 62.96 million yuan in the previous year[6]. - The company's operating revenue for 2021 was ¥224,176,731.14, a decrease of 17.20% compared to ¥270,757,745.01 in 2020[28]. - The net profit after deducting non-recurring gains and losses was ¥21,480,902.35, a decrease of 54.09% from ¥46,791,904.38 in 2020[28]. - The basic earnings per share for 2021 were ¥0.0864, down 57.56% from ¥0.2036 in 2020[28]. - The weighted average return on equity for 2021 was 3.65%, a decrease of 5.48% from 9.13% in 2020[28]. - The company reported a total tax reduction of 77,857.39 thousand yuan, contributing to a total of 128,701.71 thousand yuan in non-operating income[35]. - The company’s revenue is primarily driven by military product sales, which are influenced by domestic military procurement orders[40]. - The company reported a total revenue of 6.8 billion in 2021, showing a significant increase compared to previous years[132]. Impact of COVID-19 - The decline in performance was primarily due to the impact of COVID-19, leading to a suspension of operations from December 23, 2021, and delays in the procurement cycle of domestic components[6]. - The company experienced operational disruptions in December 2021 due to the COVID-19 pandemic, resulting in delays in product acceptance and delivery, which negatively impacted annual performance[120]. Customer Concentration and Risks - The sales proportion to the top five customers for 2021 was 69.12%, with the largest customer accounting for 21.05% of total sales[11]. - The company faces risks related to customer concentration, with a significant reliance on military procurement which can be subject to fluctuations[11]. - The company acknowledges the potential risks of performance volatility due to the nature of military product procurement and pricing adjustments[9]. - The company faces risks related to the volatility of military product orders, which can lead to fluctuations in revenue and performance due to the nature of military procurement[118]. Research and Development - The company emphasizes research and development investment and has formed a core technology system in inertial navigation and aviation engine technology through independent research and collaboration with universities[52][54]. - The company has developed various inertial navigation products, including flexible strapdown inertial navigation systems and fiber optic inertial navigation systems, which are crucial for aviation navigation[42]. - The company has established a technology team of over 100 people and has developed core technologies in inertial navigation, engine control, and UAVs, enhancing its technical competitiveness[50][51]. - The company is focusing on the development of drone technology, identifying gaps in design and integration compared to international standards as opportunities for growth[40]. - The company has implemented a flexible talent incentive mechanism to attract and retain skilled personnel, which is crucial for maintaining its competitive edge[55]. Governance and Compliance - The company has a board of directors consisting of 7 members, including 3 independent directors, in compliance with legal requirements[125]. - The company has established various committees, including an audit committee and a strategic development committee, to ensure proper governance[125]. - The company has not faced any penalties from the China Securities Regulatory Commission or the Shenzhen Stock Exchange regarding internal control issues during the reporting period[126]. - The company has a total of 3 supervisors on its supervisory board, including one employee representative, in accordance with legal requirements[125]. - The company has conducted annual training programs to enhance operational and management skills among employees[162]. Profit Distribution and Dividends - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[13]. - The total distributable profit for the year was 364,409,996.68 CNY, with no cash dividends distributed[168]. - The company will not issue cash dividends, bonus shares, or increase capital from reserves for the fiscal year 2021[169]. - The company plans to utilize undistributed profits mainly for R&D investments, external investments, asset acquisitions, and equipment purchases[188]. - The company will distribute at least 20% of the current year's distributable profits in cash dividends, subject to certain conditions[187]. Future Development Plans - The company plans to enhance its industry position and overall competitiveness to achieve high-quality development in the future[6]. - Future development plans include expanding into the UAV system technology market and enhancing the aviation engine digital control technology[110]. - The company aims to enhance its next-generation avionics technology platform through the integration, miniaturization, and platformization upgrades of existing avionics systems, including engine parameter acquisition and display systems[114]. - The company is actively exploring potential mergers and acquisitions to accelerate growth and market expansion[136]. Operational Efficiency - The company aims to improve operational efficiency and increase profitability through strategic management and innovation[136]. - The company has implemented new operational strategies that are expected to improve profit margins by 5% in the upcoming fiscal year[142]. - The company has reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a 20% year-over-year growth[142]. Employee and Talent Management - The total number of employees at the end of the reporting period is 458, including 411 from the parent company and 47 from major subsidiaries[160]. - The company has a remuneration decision-making process involving the shareholders' meeting and the board of directors[148]. - The company has implemented a performance-based salary distribution system to enhance employee engagement and productivity[161]. - The company is focused on attracting and retaining high-end composite talents to enhance its management and service innovation capabilities[117].