Andawell(SZ:300719)2022-04-25 16:00Financial Performance - The net profit attributable to shareholders for 2021 was RMB 10.4257 million, a significant decrease of 89.08% compared to the previous year[4]. - The company's operating revenue for 2021 was ¥475,457,221.77, representing a decrease of 22.02% compared to the previous year[20]. - The net profit attributable to shareholders for 2021 was ¥10,425,688.23, a significant decline of 89.08% from ¥95,478,461.42 in 2020[20]. - The basic earnings per share for 2021 was ¥0.0410, down 89.08% from ¥0.3755 in 2020[20]. - In 2021, the company achieved total revenue of 475 million RMB, a year-on-year decrease of 22.02%[55]. - The net profit attributable to shareholders was 10.43 million RMB, down 89.08% year-on-year, with basic earnings per share of 0.0410 RMB, also a decrease of 89.08%[55]. - The company reported a total of ¥1,060,545.15 in non-recurring gains and losses for 2021, a decrease from ¥9,007,241.46 in 2020[26]. - The total assets at the end of 2021 were ¥1,271,026,715, down 11.95% from the previous year[21]. - The net assets attributable to shareholders decreased by 3.46% to ¥1,014,854,329 at the end of 2021[21]. - The gross profit margin for the aviation equipment manufacturing and services sector was 46.58%, a decrease of 7.93% from the previous year[65]. Impact of COVID-19 - The decline in performance was primarily due to the impact of COVID-19 on the civil aviation business and delays in the procurement process for defense airborne equipment[4]. - The company decided to terminate the expansion project for civil aviation airborne equipment manufacturing and maintenance capabilities due to the impact of COVID-19 and the international competitive environment[98]. - The company plans to terminate the civil aviation airborne equipment research and maintenance capability expansion project due to the impact of COVID-19 and international competition, focusing instead on optimizing existing resources[103]. - The civil aviation industry in China is expected to have a good long-term development outlook, despite recent challenges from the pandemic[98]. Strategic Plans and Market Expansion - The company plans to enhance market expansion and develop new business areas to improve performance and achieve steady growth[4]. - Future plans include addressing potential operational risks and implementing corresponding measures[5]. - The company aims to strengthen the transformation of scientific research achievements into industrial applications to boost performance[4]. - The company aims for sustainable growth through a combination of internal and external growth strategies, with a three-year rolling strategic planning cycle[46]. - The company is focusing on core capabilities, including the development of third-generation seats and new radio altimeters, while also expanding into new maintenance projects[122]. - The company is expanding its market presence, targeting new regions in Southeast Asia, with an investment plan of 200 million RMB over the next two years[152]. - The company aims to achieve a sales revenue of 700-800 million RMB for 2022, which is subject to various external factors and carries significant uncertainty[119]. Research and Development - The company has developed six new models of aviation seats that have reached mass production status, with 80% of research projects achieving flight test status[57]. - The company is focusing on emerging businesses in intelligent manufacturing, particularly in RFID-based smart asset management solutions[61]. - The company's R&D investment amounted to ¥70,157,194.32 in 2021, representing 14.76% of total revenue, an increase from 13.72% in 2020[76]. - The number of R&D personnel increased to 248 in 2021, up by 0.81% from 246 in 2020, with a notable rise in the number of master's degree holders by 27.12%[76]. - The R&D budget has increased by 25% to support innovation and product development initiatives[152]. Corporate Governance and Management - The board of directors consists of 8 members, including 3 independent directors, and has held 8 meetings during the reporting period, all in compliance with relevant laws and regulations[136]. - The supervisory board is composed of 3 members, including 2 shareholder representatives and 1 employee representative, ensuring compliance with legal requirements[137]. - The company has established a complete and independent business operation system, ensuring no interference from the controlling shareholder in its operations[136]. - The company has committed to avoiding any business competition with the controlling shareholder, ensuring operational independence[140]. - The company has established an audit committee under the board of directors to oversee internal controls and financial reporting, ensuring independent audit functions[189]. - The company has implemented measures to adjust the salaries of independent directors to align with industry standards[144]. - The company is focusing on enhancing its corporate governance structure and ensuring compliance with regulations[145]. Financial Management and Fundraising - The company raised a total of RMB 511,980,000.00 from its initial public offering, with a net amount of RMB 472,657,304.31 after deducting underwriting and other fees[90]. - The company has permanently supplemented its working capital with RMB 56,084,096.11 from the remaining raised funds as of December 31, 2020[93]. - The company plans to permanently supplement the remaining raised funds into working capital to maximize investment efficiency and reduce investment risks[98]. - The company has shifted its information technology development focus primarily to the defense sector, terminating investments in the civil aviation field[98]. - The company has not made any significant equity or non-equity investments during the reporting period[88]. Employee and Training Initiatives - The company provided over 50,000 hours of online training in 2021, achieving a training coverage rate of 100% among employees[173]. - The company has a comprehensive salary policy that includes basic salary, position salary, allowances, and bonuses, linking employee income to performance[172]. - The total number of employees at the end of the reporting period is 644, with 133 in the parent company and 511 in major subsidiaries[170]. - The educational background of employees includes 6 with a PhD, 104 with a Master's degree, 408 with a Bachelor's degree, and 126 with an associate degree or below[171]. Market Trends and Industry Outlook - The defense budget for 2021 was RMB 1.27 trillion, an increase of RMB 10.68 billion, representing a growth rate of 6.8% compared to 2020[111]. - The civil aviation market in China is expected to grow at an average annual rate of approximately 17% from 2020 to 2025, with cargo and mail transport volume expected to grow at about 7% annually[113]. - The demand for measurement and control as well as ground support equipment is significantly increasing due to the growing training and support tasks of domestic aviation units[116]. - Digital technologies, including smart technology and industrial software, are key development areas for the aerospace and defense industries in the coming years[117]. Social Responsibility and Environmental Compliance - The company has actively engaged in social responsibility, emphasizing integrity, compliance, and quality in its operations over the past 20 years[196]. - The company has adhered to environmental laws and has not faced any administrative penalties related to environmental issues during the reporting period[195]. - The company has focused on sustainable development by promoting environmental awareness among employees and striving for harmony with the environment[195].