Jinma Rides(SZ:300756)2022-04-27 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[12]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[12]. - The company's operating revenue for 2021 was ¥503,894,988.69, representing a 31.56% increase compared to ¥383,010,329.31 in 2020[17]. - The net profit attributable to shareholders for 2021 was ¥21,272,496.53, a significant turnaround from a loss of ¥20,160,581.67 in 2020, marking a 205.52% increase[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,395,966.20, up 136.25% from a loss of ¥36,949,381.65 in 2020[17]. - The company's cash flow from operating activities was negative at -¥63,319,090.50, a decline of 158.63% compared to ¥107,996,669.86 in 2020[17]. - The company reported a gross margin of 40% in 2021, up from 35% in the previous year[159]. - The company reported a net profit margin of 12% in 2021, up from 10% in the previous year, indicating improved operational efficiency[168]. Revenue and Growth Projections - The company has set a revenue target of RMB 1.5 billion for 2022, indicating a growth forecast of 25%[12]. - Future outlook indicates a projected revenue growth of 25% for 2022, driven by new product launches and market expansion strategies[167]. - The company plans to expand its new product offerings and business models to other regions in China, aiming to create additional growth points[63]. - The company is focusing on digital transformation, with plans to launch an online platform for user engagement by mid-2022[168]. User Engagement and Market Expansion - User data showed an increase in active users by 25% year-on-year, reaching 500,000 active users by the end of 2021[12]. - The company has expanded its user base, with active users increasing by 20% to reach 500,000 in 2021[168]. - The company is expanding its market presence by entering two new provinces in China, aiming to increase market share by 10%[12]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[163]. Product Development and Innovation - New product development includes the launch of three new amusement rides, expected to contribute an additional RMB 200 million in revenue[12]. - The company has developed over 300 types of large amusement facilities and 8 series of virtual immersive amusement projects, showcasing its innovation in the industry[33]. - The company is focusing on innovative product development, including new-generation roller coasters and immersive virtual products, to meet market demands and drive industry leadership[113]. - The company is actively involved in the development of new technologies and innovative amusement products, integrating cultural and technological elements[48]. Strategic Initiatives and Acquisitions - A strategic acquisition of a local competitor is planned, which is expected to enhance the company's operational capabilities and market reach[12]. - The company completed a strategic acquisition of a local competitor, which is expected to enhance its market share by 15%[168]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of 100 million RMB allocated for this purpose[165]. Research and Development - The company has invested RMB 50 million in technology research and development to innovate its product offerings[12]. - Research and development expenses increased by 77.83% to CNY 99,496,220.48, reflecting a recovery in R&D activities post-pandemic[81]. - The company's R&D investment as a percentage of operating income was 19.75%, up from 14.61% in the previous year[83]. - The number of R&D personnel increased by 10.88% to 214, with a notable rise in the number of personnel holding a master's degree or higher[83]. Operational Efficiency and Management - The company has optimized its organizational management structure to enhance operational efficiency and responsiveness to market changes[62]. - The company has established a comprehensive quality management system that exceeds national standards, ensuring product safety and reliability[51]. - The company has implemented organizational changes to improve operational efficiency and talent cultivation, focusing on a customer-centric approach and enhancing the capabilities of various departments[119]. Financial Management and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.45 per 10 shares, with a total payout based on a share base of 101,149,860 shares[5]. - The cash dividend accounted for 100% of the total profit distribution amount, reflecting the company's commitment to shareholder returns[186]. - The total distributable profit for the consolidated financial statements as of December 31, 2021, was CNY 452.70 million, while the parent company had a distributable profit of CNY 507.77 million[186]. Risk Management - The management highlighted potential risks including market competition and regulatory changes that could impact future performance[5]. - The company is facing macroeconomic risks due to complex global economic conditions, which may challenge its industry and international market expansion[121]. - The company is managing accounts receivable risks by carefully selecting clients and enhancing the management of receivables to reduce overdue accounts[125]. Corporate Governance - The company held 2 extraordinary general meetings and 1 annual general meeting during the reporting period, ensuring compliance with legal regulations and providing convenience for shareholders to exercise their rights[132]. - The board of directors consists of 5 members, including 2 independent directors, and held 8 meetings during the reporting period, adhering to legal and internal regulations[135]. - The company maintains complete independence from its controlling shareholder in terms of assets, business, personnel, and finance, ensuring autonomous operational capabilities[141].