浙江力诺(300838) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥688,359,532.75, representing a 46.53% increase compared to ¥469,768,361.77 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥85,265,603.29, a 37.34% increase from ¥62,083,446.32 in 2020[18]. - The net profit after deducting non-recurring gains and losses was ¥81,557,750.47, up 45.56% from ¥56,029,473.89 in 2020[18]. - The total assets at the end of 2021 reached ¥1,238,317,529.45, a 26.47% increase from ¥979,158,500.48 at the end of 2020[18]. - The net assets attributable to shareholders increased by 8.38% to ¥838,165,711.44 at the end of 2021 from ¥773,351,108.15 at the end of 2020[18]. - The company reported a basic earnings per share of ¥0.63 for 2021, which is a 21.15% increase from ¥0.52 in 2020[18]. - The cash flow from operating activities for 2021 was ¥51,172,321.29, a slight decrease of 2.78% compared to ¥52,638,287.61 in 2020[18]. - The company achieved a revenue of 688.36 million RMB in the reporting period, representing a year-on-year growth of 46.53%[34]. - The domestic market share of local control valve brands increased to 40.35% in 2021, up from 38.50% in 2020, indicating a strong trend towards import substitution[32]. - The chemical industry contributed 448.59 million yuan to total revenue, accounting for 65.17% of the company's total revenue, with a year-on-year growth of 51.26%[57]. Research and Development - The company reported a significant focus on research and development in control valves, which are critical in industrial automation, indicating a strong market position[10]. - The company has developed a comprehensive R&D model that combines independent research and industry-academia collaboration, resulting in 77 patents held by the end of the reporting period[46]. - Research and development expenses increased by 72.97% to ¥27,702,739.34 in 2021, compared to ¥16,015,778.77 in 2020, indicating a strong commitment to innovation[78]. - The number of R&D personnel increased by 33.33% to 92 in 2021, with a higher proportion of staff under 30 years old, rising from 11 to 21[81]. - The company is focusing on developing high-parameter valves and industrial process pumps, with ongoing research in laser cladding remanufacturing technology[80]. Corporate Governance - The company’s financial report has been confirmed as true, accurate, and complete by its board and management, ensuring transparency[2]. - The company’s governance structure includes a board of directors and supervisory board, ensuring accountability and oversight[2]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements and future plans[3]. - The company has established a comprehensive internal control and management system to ensure compliance with governance standards[116]. - The company held its annual general meeting with a participation rate of 62.22% and a temporary meeting with 58.49% participation, ensuring shareholder engagement[127]. Market Position and Strategy - The company is positioned in the first tier of the domestic control valve industry, reflecting its strong market presence and brand reputation[34]. - The company is expected to continue expanding its production capacity and market presence through strategic acquisitions and industry consolidation[33]. - The company has established long-term stable partnerships with major clients, including China Petroleum and Chemical Corporation and China National Offshore Oil Corporation[49]. - The company is actively developing new industry clients, achieving good cooperation with several new energy companies[49]. - The company is recognized as a national high-tech enterprise and has established a provincial-level research and development center, enhancing its competitive edge[46]. Risk Management - The company has identified potential risks related to industry development policies that could impact its performance, particularly in relation to fixed asset investments in downstream industries[107]. - The company has implemented various risk management measures, including credit assessments and legal follow-ups on overdue debts, to mitigate collection risks[109]. - The company emphasizes the need for a high-quality management team and plans to enhance talent through training and recruitment to meet growth demands[111]. Shareholder Engagement and Profit Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, based on a total of 136,340,000 shares[3]. - The cash dividend distribution accounted for 100% of the total profit distribution amount, with no stock dividends or capital reserve transfers[161][162]. - The company aims to distribute profits at least once a year, within two months after the annual general meeting approval[186]. - The company will ensure that any repurchased shares will be canceled to avoid affecting the distribution of equity and capital scale[185]. - The company has committed to maintaining a consistent financial accounting system across its subsidiaries[188]. Environmental Commitment - The company is committed to achieving the dual carbon goals of peak carbon emissions by 2030 and carbon neutrality by 2060, aligning with national policies[10]. - The company emphasizes environmental protection and has implemented measures to reduce carbon emissions, including energy-saving initiatives[173]. - The control valve industry is supported by national policies, which emphasize the importance of automation and modernization in industrial manufacturing[28]. Employee Development - The company has implemented a comprehensive training system to enhance employee skills and support strategic goals, including various training programs and partnerships with universities[157]. - The company reported a total of 728 employees at the end of the reporting period, with 441 in production, 139 in sales, 80 in technical roles, and 56 in administration[154][155]. - The company has no current plans for stock incentive programs or employee stock ownership plans[163]. Financial Management - The company has maintained effective internal controls related to financial statements as of December 31, 2021, according to the internal control verification report[168]. - The company has fulfilled all commitments on time during the reporting period[192]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[172].