High Dream(SZ:300720)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was ¥252,672,652.42, representing a 15.76% increase compared to ¥218,264,445.00 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥76,888,935.62, a 5.19% increase from ¥73,095,650.91 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥73,142,518.98, up 7.11% from ¥68,287,111.61 in 2020[20]. - The total assets at the end of 2021 were ¥630,165,439.66, reflecting a 7.49% increase from ¥586,227,911.57 at the end of 2020[20]. - The net assets attributable to shareholders increased by 8.37% to ¥575,885,464.36 from ¥531,405,824.06 in 2020[20]. - The basic earnings per share for 2021 were ¥0.3955, a 5.19% increase compared to ¥0.3760 in 2020[20]. - The weighted average return on equity for 2021 was 13.89%, down from 14.48% in 2020[20]. - The company achieved a total revenue of CNY 252.67 million in 2021, representing a year-on-year growth of 15.76%[37]. - The net profit attributable to shareholders reached CNY 76.89 million, an increase of 5.19% compared to the previous year[37]. Cash Flow and Investments - The net cash flow from operating activities decreased by 4.01% to ¥72,331,787.81 from ¥75,351,244.20 in 2020[20]. - Operating cash inflow totaled ¥275,763,229.40 in 2021, reflecting an 11.06% increase compared to ¥248,307,384.09 in 2020[56]. - The net cash flow from investment activities turned positive at ¥117,157,782.37 in 2021, compared to a negative cash flow of ¥141,393,238.12 in 2020, marking a 182.86% improvement[56]. - The net increase in cash and cash equivalents was ¥155,195,141.91, a significant improvement of 279.52% compared to a decrease of ¥86,450,762.49 in 2020[57]. - Investment activity cash inflow decreased by 51.11% to ¥464,440,524.14 in 2021, down from ¥950,016,107.44 in 2020[56]. Business Operations and Market Position - The company is positioned as a leading provider of dynamic combination weighing and continuous automatic mixing systems in China, with its products widely recognized in the market[31]. - The smart manufacturing industry is experiencing rapid growth, driven by increased automation and the shift from manual to automated production processes, creating new opportunities for the company[31]. - The company’s main business includes the R&D, production, and sales of automatic weighing instruments, which are essential in industries such as food, pharmaceuticals, and plastics[32]. - The company operates on an "order assembly" production model, allowing for flexibility and responsiveness to market demands[33]. - The growth in demand for high-end intelligent weighing instruments is supported by national industrial policies, providing a favorable environment for the company's expansion[32]. Research and Development - The company holds a total of 131 patents, including 9 invention patents and 67 utility model patents, highlighting its strong focus on technology and innovation[34]. - The company’s R&D expenses increased by 27.48% in 2021, amounting to ¥18,624,502.22, primarily due to increased investment in research and development[50]. - The company is currently in batch production for several new products, including a microcomputer combination scale and IoT water meters, aimed at expanding its product line and market applications[52]. - The company aims to enhance its product offerings and market reach through ongoing R&D projects, including advanced scales and IoT solutions[52]. - The company plans to increase R&D investment and expand its R&D team to enhance innovation and product development, focusing on high-end market opportunities[73]. Risk Management - The company has disclosed potential risks and corresponding countermeasures in its future development outlook[5]. - The company recognizes risks from macroeconomic fluctuations and plans to enhance product quality and expand its customer base to mitigate potential impacts on performance[74]. - The company faces exchange rate fluctuation risks due to a high proportion of export business, primarily settled in USD, and will implement measures to manage foreign exchange exposure[75]. - The company is addressing the risk of declining operating performance due to rising raw material costs by implementing bulk purchasing strategies and developing new suppliers[76]. Governance and Compliance - The company has established a governance structure that complies with relevant regulations, ensuring independent operation of its board and management[81]. - The company emphasizes information disclosure, adhering to regulations and ensuring timely and accurate communication with investors[86]. - The company has a total of three supervisors in its supervisory board, including one employee supervisor, complying with legal requirements[86]. - The company has implemented a budget management system to enhance the efficiency of fund utilization[84]. - The company has completed the internal control system updates, including management regulations for directors and supervisors, ensuring compliance with the latest laws and regulations[131]. Shareholder and Capital Structure - The company plans to distribute cash dividends of RMB 2.0 per 10 shares, totaling approximately RMB 40,000,000, which represents 100% of the distributable profit[124]. - The total distributable profit available for shareholders as of December 31, 2021, is RMB 240,617,001.25, after accounting for the previous year's dividends and reserve allocations[125]. - The company’s total share capital will increase to 194,400,000 shares after the capital reserve conversion, with a bonus share distribution of 8 shares for every 10 shares held[122]. - The company’s shareholder structure saw an increase in limited shares from 51,382,350 to 113,530,815 due to the conversion of shares[188]. - Major shareholder Zheng Jinkang holds 43.19% of the shares, totaling 84,170,340 shares, with an increase of 37,409,040 shares during the reporting period[192]. Employee Management - The company has a total of 524 employees, with 266 in the parent company and 258 in major subsidiaries[113]. - The company emphasizes competitive, fair, and performance-oriented principles in its employee compensation policy[115]. - The company has established a comprehensive training system, including new employee orientation and leadership training, to enhance organizational capabilities[120]. - The company has established a comprehensive employee compensation management system over years of development[115]. - The company emphasizes talent as its greatest resource, providing competitive salaries and various forms of compensation to employees[141].