QuakeSafe Technology(SZ:300767)2022-03-20 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥670.33 million, representing a 15.48% increase compared to ¥580.49 million in 2020[17]. - The net profit attributable to shareholders decreased by 45.58% to approximately ¥87.46 million in 2021 from ¥160.72 million in 2020[17]. - The net cash flow from operating activities was negative at approximately ¥182.85 million, a decline of 251.62% compared to ¥120.60 million in 2020[17]. - Basic earnings per share fell by 45.60% to ¥0.4337 in 2021 from ¥0.7972 in 2020[17]. - Total assets increased by 39.33% to approximately ¥2.06 billion at the end of 2021, up from ¥1.48 billion at the end of 2020[17]. - The net assets attributable to shareholders rose by 15.82% to approximately ¥1.28 billion at the end of 2021, compared to ¥1.11 billion at the end of 2020[17]. - The company reported a total of 7,101,176.44 in non-recurring gains and losses for the year 2021, a decrease from 24,806,453.91 in 2020[24]. - The company reported a significant increase in credit impairment losses, totaling CNY 21.91 million, up 154.86% from the previous year due to rising accounts receivable[64]. - The company reported a total investment income of ¥3,671,969.74, accounting for 3.74% of total profit, primarily from bank wealth management[90]. - The total distributable profit for the company is 531,504,360.85 yuan, with the cash dividend accounting for 100% of the profit distribution[186]. Market Position and Strategy - The company is positioned in a growing industry, with the demand for seismic isolation technology expected to increase significantly due to new regulations and government support[28]. - The company is one of the few in the domestic market capable of providing comprehensive seismic isolation solutions, differentiating itself from competitors who primarily focus on manufacturing[30]. - The company aims to increase its market share nationwide as regulations and product standards improve[43]. - The seismic isolation technology industry is in a growth phase, supported by government policies and increasing awareness, with a broad market outlook[45]. - The company has established a high brand recognition and market share, aiming to improve product quality standards and promote the development of national and local standards[46]. - The company is actively expanding its market presence, particularly outside Yunnan, which has seen a significant increase in project volume[60]. - The company aims to become a leading supplier of complete solutions for building and facility isolation and damping, promoting the application of isolation technology[116]. - The company holds a market share of approximately 39.21% in the national building isolation market as of 2017[115]. - The company expects significant market space growth in the isolation and damping industry following the implementation of the "Construction Project Earthquake Management Regulations" on September 1, 2021[114]. Research and Development - The company's R&D expenses rose to CNY 23.90 million, a year-on-year increase of CNY 8.08 million or 51.08%, reflecting a focus on enhancing core competitiveness[62]. - The company has established a research and development team with strong capabilities in rubber, polymer materials, and engineering structures, ensuring high-quality product manufacturing[49]. - The company has completed the research and development of a new type of soft steel damper with a yield displacement design of 1.0±0.2mm and a good fatigue performance under a displacement of 30-35mm[83]. - The company has developed a series of friction pendulum isolation bearings, enhancing its production capabilities and achieving application in several engineering projects[84]. - The company has successfully developed high-damping rubber bearings that can replace lead-core rubber bearings, with good mechanical properties and extensive application in engineering projects[84]. - The company has developed a new type of low-cost friction pendulum isolation bearing that meets design requirements while significantly reducing costs[85]. - The company has established partnerships with three major universities to enhance its R&D capabilities[165]. Governance and Compliance - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring the protection of investor rights[197]. - The company’s governance structure aligns with the requirements of relevant laws and regulations, with no significant discrepancies noted[130]. - The company has implemented a stock incentive mechanism to attract and retain outstanding talent while optimizing resource allocation and enhancing project cost management[126]. - The company has established a performance evaluation and incentive mechanism for senior management, aligning their interests with the company's long-term development through a restricted stock incentive plan[139]. - The company’s audit department conducts internal audits to ensure compliance with laws and regulations, enhancing internal supervision and risk control[140]. - The company has maintained transparent communication with investors, ensuring timely access to public information[137]. Operational Efficiency and Risk Management - The company aims to improve operational efficiency and reduce costs by optimizing its supply chain management[155]. - The company plans to implement a comprehensive risk management system to mitigate uncertainties arising from industry policies and market competition[121]. - The company is focused on strengthening its governance structure and decision-making processes to improve overall operational effectiveness[197]. - The company has implemented measures to enhance operational efficiency and reduce operational risks as part of its internal control strategy[193]. Employee Development and Talent Management - The company has implemented a comprehensive salary management system and incentive mechanism to align employee interests with company performance[181]. - The company emphasizes talent development through a structured training program aimed at enhancing employee skills and aligning with corporate goals[182]. - The company has established a long-term training mechanism for core talent, combining external recruitment and internal development to meet the company's staffing needs[126]. - The company has increased its R&D personnel from 133 in 2020 to 142 in 2021, representing a growth of 6.77%[85]. Future Outlook - The company has set ambitious performance guidance for 2022, targeting a revenue growth of 15% year-over-year[156]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[165]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[157]. - The management emphasized the importance of sustainability and environmental responsibility in its future business strategies[158].