LSKJ(SZ:300680)2022-04-27 16:00Company Overview - The company operates in the automotive parts industry, focusing on the development, production, and sales of EGR systems, new energy products, and precision components[6]. - The company's main business segments include engine exhaust gas recirculation (EGR) systems, new energy, and precision components, covering various vehicle types[122]. Financial Performance - Wuxi Longsheng Technology Co., Ltd. reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year growth of 15%[24]. - The company achieved a net profit of RMB 150 million in 2021, which is an increase of 20% compared to the previous year[24]. - The company's operating revenue for 2021 was ¥929,697,401.75, representing a 60.83% increase compared to ¥578,056,435.44 in 2020[32]. - The net profit attributable to shareholders for 2021 was ¥97,646,056.71, an increase of 81.94% from ¥53,669,453.56 in 2020[32]. - The total assets at the end of 2021 were ¥1,683,407,160.77, a 21.03% increase from ¥1,390,877,871.77 at the end of 2020[32]. - The company reported a significant growth in the automotive industry, with a 3.4% increase in production and sales of automobiles in 2021, totaling 26.08 million units[42]. - The company achieved a sales revenue of 929.70 million yuan in 2021, representing a year-on-year growth of 60.83%[63]. - The EGR product segment generated sales revenue of 328.21 million yuan in 2021, up 47.50% from 240.59 million yuan in 2020[79]. Research and Development - The company plans to invest RMB 200 million in R&D for new products and technologies in 2022, focusing on electric vehicle components[25]. - The company has a total of 319 valid patents, including 59 invention patents, 249 utility model patents, and 11 design patents[74]. - The company is actively involved in research and development, which is crucial for maintaining competitive advantage in the technology sector[141]. - The company’s R&D expenses amounted to ¥38,895,912.46, representing a 29.81% increase from ¥29,963,883.69 in 2020[101]. Market Strategy and Expansion - Longsheng Technology aims to increase its market share by 10% in the next fiscal year through strategic partnerships and market expansion initiatives[25]. - The company is exploring potential acquisitions to enhance its product offerings and technological capabilities, with a target of completing at least one acquisition in 2022[25]. - The company is focused on expanding its EGR technology application from light-duty to medium and heavy-duty diesel vehicles, as well as non-road machinery[68]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[153]. Corporate Governance - The company has established a governance structure that ensures effective checks and balances, promoting compliance with relevant laws and regulations[175]. - The company has a clear governance structure with independent directors and supervisors, ensuring effective oversight[137]. - The company has a dedicated internal audit system to monitor financial management and internal controls[133]. - The company has not reported any significant internal control deficiencies during the reporting period, with zero major or important deficiencies identified[171]. Risk Management - The company is subject to risks related to changes in automotive industry policies, which could impact its operational performance[6]. - The company acknowledges the risk of goodwill impairment due to potential adverse changes in the economic environment and customer demand[12]. - The company is closely monitoring macroeconomic trends and adjusting its business strategies to ensure sustainable high-quality development[8]. Employee and Compensation Management - The total number of employees at the end of the reporting period was 651, with 334 in production, 36 in sales, and 96 in technical roles[157]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 4.2285 million[147]. - The company has a compensation decision-making process based on annual operational targets and performance evaluations[145]. - The company has a training program aimed at improving employee skills and overall quality through a combination of internal and external training[159]. Environmental and Social Responsibility - The company emphasizes environmental responsibility and has not faced any administrative penalties related to environmental issues during the reporting period[174]. - The company is committed to sustainability initiatives, with plans to reduce carbon emissions by 20% over the next three years[181]. Future Outlook - The company has set a performance guidance for 2022, projecting a revenue growth of 18% and a net profit increase of 22%[24]. - 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 strategies[180]. - The company aims to launch three new products in 2022, which are anticipated to contribute an additional 200 million RMB in revenue[181].