KingShine(SZ:300903)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was ¥2,252,597,520.88, representing a 40.60% increase compared to ¥1,602,150,265.49 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥70,948,323.47, a decrease of 32.45% from ¥105,033,801.80 in 2020[20]. - The net cash flow from operating activities was negative at ¥1,908,354.67, a decline of 102.16% compared to ¥88,368,108.55 in 2020[20]. - The total assets at the end of 2021 amounted to ¥3,569,871,913.84, reflecting a 58.52% increase from ¥2,251,971,831.23 in 2020[20]. - The basic earnings per share for 2021 was ¥0.4117, down 47.93% from ¥0.7907 in 2020[20]. - The company reported a weighted average return on equity of 6.03% for 2021, a decrease of 10.52% from 16.55% in 2020[20]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, which was ¥57,160,653.39 in 2021, down 39.36% from ¥94,266,157.05 in 2020[20]. - The company's total operating revenue for 2021 reached ¥2,252,597,520.88, representing a year-on-year increase of 40.60% compared to ¥1,602,150,265.49 in 2020[59]. - PCB manufacturing accounted for 95.95% of total revenue, with revenue of ¥2,161,427,247.75, up 38.94% from ¥1,555,617,597.11 in the previous year[59]. - The company's domestic sales amounted to ¥2,044,929,945.12, which is 90.78% of total revenue, reflecting a 41.87% increase from ¥1,441,422,151.25 in 2020[59]. Investment and Capital Management - The company reported an investment income of ¥4,023,209.98, accounting for 6.76% of total profit, primarily from structured deposits[80]. - The total amount of funds raised was RMB 562,886,000, with a net amount of RMB 501,654,310 after deducting issuance costs[91]. - As of December 31, 2021, the cumulative amount of raised funds used was RMB 409,109,700, with a remaining balance of RMB 99,520,700[92]. - The company invested RMB 39,110,970 in the reporting period, achieving an investment progress of 81.55% for the committed project[93]. - The main investment project, Jiangxi Kexiang PCB and Semiconductor Project, reported a loss of RMB 3,233,900 due to high operational costs during the setup phase[94]. Research and Development - Research and development (R&D) expenses increased by 51.89% to ¥113,620,456.52, primarily due to the increase in R&D projects[71]. - R&D investment in 2021 was ¥113,620,456.52, accounting for 5.04% of operating revenue, up from 4.67% in 2020[74]. - The number of R&D personnel increased by 34.26% to 388, with a notable rise in the proportion of personnel aged 30 to 40 years[73]. - The company is focusing on developing new technologies and products to meet the fast-paced updates in the electronic information product sector[74]. Market and Industry Trends - The global PCB industry achieved a growth rate of 20.6% in 2021, with a market size of $84 billion, indicating strong demand and growth potential[31]. - The overall circuit board market is expected to grow by over 6% in 2022, supported by strong demand for terminal electronic products[32]. - The global semiconductor market is projected to grow by at least 10% in 2022, with Taiwan's semiconductor output growth rate expected to reach 17.7%[35]. - By 2025, the global PCB market value is expected to reach $86.3 billion, with China's PCB market projected at $51.7 billion, reflecting a compound annual growth rate of 8% from 2020 to 2025[51]. Environmental Compliance - The company reported a total wastewater discharge of 10.98 tons for COD, complying with local pollution discharge standards[177]. - The ammonia nitrogen discharge was recorded at 0.3045 tons, also within the permissible limits set by local standards[177]. - The total nitrogen discharge was 3.575 tons, adhering to the established pollution discharge standards[177]. - The total phosphorus discharge was 0.139 tons, meeting the regulatory requirements[177]. - The company has not reported any significant environmental protection issues or non-compliance with pollution discharge standards[177]. Corporate Governance - The company maintains independent operations in business, personnel, assets, institutions, and finance, ensuring no interference from controlling shareholders[119]. - The company has established a performance evaluation and incentive mechanism for senior management, ensuring transparency and compliance with legal regulations[115]. - The company has a complete and independent financial accounting system, with no shared bank accounts with controlling shareholders[123]. - The company respects and maintains the legal rights of stakeholders, including employees, suppliers, and customers, promoting balanced interests[117]. Employee Relations and Development - The total number of employees at the end of the reporting period is 3,318, with 747 in the parent company and 2,571 in major subsidiaries[160]. - The company has established a comprehensive welfare system, including social insurance, housing provident fund, housing subsidies, accident insurance, and free meals and accommodation[161]. - The company plans to enhance employee skills through a structured training program, including onboarding, departmental training, and external training sessions[162]. - The company emphasizes employee development through various training programs and partnerships with universities for educational advancement[199]. Profit Distribution - The company reported a profit distribution plan of cash dividends of RMB 0.50 per 10 shares (including tax) and a capital reserve increase of 8 shares per 10 shares[5]. - The total distributable profit for the company is RMB 92,077,365.07, with cash dividends accounting for 100% of the profit distribution[167]. - The company will not issue bonus shares or convert capital reserves into share capital during this distribution[165].