GDDP(SZ:300808)2022-04-19 16:00Financial Performance - The company achieved operating revenue of RMB 628,877,958.08, a year-on-year decrease of 10.87%[5] - The net profit attributable to shareholders was RMB 8,332,990.58, down 78.27% year-on-year[5] - The decline in performance was primarily due to the ongoing impact of the COVID-19 pandemic and rising costs of raw materials and logistics[5] - The company's operating revenue for 2021 was ¥628,877,958.08, a decrease of 10.87% compared to ¥705,548,042.18 in 2020[20] - The net profit attributable to shareholders for 2021 was ¥8,332,990.58, down 78.27% from ¥38,339,271.58 in 2020[20] - The net profit after deducting non-recurring gains and losses was ¥5,339,955.93, representing an 82.87% decline from ¥31,176,255.84 in 2020[20] - The net cash flow from operating activities was ¥13,790,004.71, a significant drop of 87.10% compared to ¥106,869,750.05 in 2020[20] - The company's total revenue for 2021 was ¥628,877,958.08, representing a decrease of 10.87% compared to ¥705,548,042.18 in 2020[56] Dividend Policy - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[7] - The company emphasizes a profit distribution policy that ensures cash dividends are at least 10% of the annual distributable profit when conditions are met[170] - The company has a cash dividend policy that mandates a minimum cash dividend ratio of 80% for mature companies without significant capital expenditure plans[172] - In 2021, the company reported a total distributable profit of CNY 346,031,263.09, with no cash dividends distributed, resulting in a cash dividend ratio of 0.00%[176] - The decision to not distribute cash dividends in 2021 was based on the need to retain profits for daily operations and long-term development[176] - The company plans to distribute cash dividends, with a minimum of 10% of the annual distributable profits to be distributed in cash[200] Market and Industry Conditions - Future performance may be affected by various risks, including policy changes, exchange rates, and market conditions[6] - The LED lighting market is experiencing structural overcapacity and increased competition, prompting the need for industry consolidation and strategic acquisitions[30] - The company is experiencing challenges in expanding its overseas business due to uncertainties in export policies, local market demand, and foreign exchange markets[102] - Fluctuations in raw material prices, including plastics, LED lights, batteries, and circuit boards, could adversely affect the company's production costs[103] - The company faces intensified market competition in the lighting industry, which has a low entry barrier and a relatively low industry concentration[101] Research and Development - The company is focusing on LED lighting products, with a strong emphasis on product development and innovation to meet market demands[30] - The company emphasizes R&D, having mastered core technologies such as LED constant current driving and human body induction technology, enhancing its competitive edge[46] - The company has invested heavily in R&D to continuously upgrade its products, ensuring alignment with market demands[46] - The company’s R&D expenses were ¥23,172,859.22 in 2021, a decrease of 4.23% compared to ¥24,195,398.85 in 2020[69] - The number of R&D personnel decreased by 4.40% from 91 in 2020 to 87 in 2021, with the proportion of R&D staff dropping from 11.04% to 10.62%[71] - The company has a strong emphasis on research and development, particularly in semiconductor lighting technology, which is expected to drive future growth[141] Operational Strategy - The company will continue to monitor the pandemic's impact on its operations and adjust strategies accordingly[6] - The company has established a comprehensive procurement model, evaluating suppliers based on multiple criteria, including price and delivery capability[40] - The company maintains a dynamic production management system, ensuring quality control and timely delivery of products[41] - The company operates a sales model primarily through distributors, supplemented by e-commerce platforms, covering both domestic and international markets[42] - The company has integrated its production management to enhance supply chain efficiency and production capacity, allowing for both large-scale and customized production[50] - The company plans to enhance its marketing personnel training and expand sales channels for LED home lighting products[98] Risk Management - The report highlights the need for investors to recognize the risks associated with future plans and performance forecasts[5] - The company has implemented a comprehensive internal control system to enhance risk management and ensure sustainable development[179] - The internal control evaluation report indicates that 100% of the total assets of the evaluated units are included in the company's consolidated financial statements[181] - The company has not identified any significant internal control deficiencies during the reporting period[180] - The company faces significant accounts receivable risks, especially from overseas clients, which could lead to cash flow pressures[113] - The company is exposed to foreign exchange risks due to a large proportion of its revenue being denominated in USD[114] Governance and Management - The company has a complete independent business system and does not engage in unfair related transactions with its controlling shareholders[133] - The company has implemented strict information disclosure and investor relations management systems[126] - The company’s governance structure complies with relevant laws and regulations without significant discrepancies[127] - The company’s senior management does not hold positions in the controlling shareholders' enterprises, ensuring personnel independence[130] - The company has a robust internal management structure that operates independently from its controlling shareholders[132] - The company has undergone a board restructuring, with several directors and supervisors completing their terms in December 2021, including independent directors and a financial director[139] Employee and Labor Relations - The total number of employees at the end of the reporting period was 685, with 297 in the parent company and 388 in major subsidiaries[162] - The company had a total of 819 employees receiving salaries during the reporting period[162] - The company conducts training programs to enhance employees' professional skills and moral qualities[164] - The company has a total of 385 production personnel, 98 sales personnel, 125 technical personnel, 25 financial personnel, and 52 administrative personnel[162] Environmental and Social Responsibility - The company does not belong to the key pollutant discharge units as per environmental protection department regulations[186] - The company has not faced any administrative penalties related to environmental issues during the reporting period[186] - The company emphasizes social responsibility by ensuring shareholder rights and maintaining integrity with suppliers and customers[187] - No poverty alleviation or rural revitalization initiatives were undertaken by the company during the reporting year[188]