DAYE(SZ:300879)2022-04-18 16:00Financial Performance - The company reported a total revenue of RMB 1.6 billion for the year 2021, representing a year-on-year increase of 15%[1] - The net profit attributable to shareholders was RMB 200 million, an increase of 10% compared to the previous year[1] - The company's operating revenue for 2021 was ¥1,607,004,244.05, representing a 60.52% increase compared to ¥1,001,115,503.78 in 2020[23] - The net profit attributable to shareholders for 2021 was ¥55,522,875.02, a decrease of 27.61% from ¥76,701,625.69 in 2020[23] - The net profit after deducting non-recurring gains and losses was ¥31,499,659.34, down 37.71% from ¥50,572,093.02 in 2020[23] - The net cash flow from operating activities was -¥237,300,003.43, a decline of 277.75% compared to ¥133,503,434.23 in 2020[23] - Basic earnings per share decreased by 40.68% to ¥0.35 from ¥0.59 in 2020[23] - The company reported a total non-operating income of CNY 24,023,215.68 in 2021, a decrease of 8.0% from CNY 26,129,532.67 in 2020[29] - The company reported a gross profit margin for the garden machinery segment of 15.19%, a decrease of 4.00% from the previous year[73] - The company reported a gross margin of 35%, which is an improvement from 30% in the previous year, reflecting better cost management[130] User Growth and Market Expansion - User data showed a growth in active users by 25%, reaching 500,000 by the end of 2021[1] - The company has set a revenue target of RMB 2 billion for 2022, indicating a growth expectation of 25%[1] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[1] - The company is planning to expand its market presence in North America, targeting a 30% increase in sales in that region by 2023[130] - The company has expanded its user base, reaching 500,000 active users, which is a 20% increase compared to the previous year[165] Research and Development - The company is investing RMB 50 million in R&D for new technologies in smart gardening solutions[1] - The company has a total of 148 patents, including 71 invention patents, showcasing its strong R&D capabilities[40] - R&D expenses reached CNY 49.39 million in 2021, an increase of 4.36% compared to 2020, reflecting the company's commitment to innovation and product development[57] - The company is focusing on lithium battery technology to enhance product offerings and increase customer base, aligning with industry trends[84] - The company is developing a new generation of robotic lawn mowers featuring motion control, multi-sensor fusion, navigation, and wireless connectivity, which have received positive market feedback and are now being sold at scale[58] Strategic Acquisitions and Investments - A strategic acquisition of a local competitor is planned, which is expected to enhance production capacity by 20%[1] - The company has completed two strategic acquisitions in the past year, enhancing its product portfolio and market reach[165] - The company has committed to invest ¥36,526.18 million in a new production project for 900,000 garden equipment units, with a progress rate of 100.13% as of October 31, 2021[109] Operational Efficiency and Cost Management - The company is investing in new technology to improve manufacturing efficiency, aiming for a 15% reduction in production costs by the end of 2022[130] - Operating expenses have been reduced by 5% through cost optimization initiatives, contributing to overall profitability[159] - The company’s procurement strategy includes "just-in-time" purchasing to manage costs effectively[46] Governance and Management - The board of directors consists of 7 members, including 3 independent directors, meeting legal and regulatory requirements[135] - The company has established specialized committees within the board, including a nomination committee, audit committee, strategy committee, and compensation and assessment committee[135] - The company has a performance evaluation and incentive mechanism in place, linking annual performance assessments to long-term development goals[138] - The company has not experienced any major governance issues and complies with relevant laws and regulations[142] Future Outlook - The company has set a future outlook with a revenue target of 1.5 billion RMB for 2022, indicating a projected growth rate of 25%[130] - New product launches are expected to contribute an additional 200 million in revenue, with a focus on smart gardening equipment[159] - Market expansion plans include entering three new international markets by the end of 2022, targeting a 10% increase in global market share[159] Dividend Policy - The company plans to enhance its cash dividend policy where the cash distribution should not be less than 30% of the average distributable profit over the last three years[185] - The company proposed a cash dividend of RMB 1.30 per 10 shares, totaling RMB 20,800,000.00[192] - The cash dividend accounted for 100% of the total profit distribution[191]