SANYOU CORP.(SZ:300932)2022-05-11 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,692,380,764.52, representing a 29.03% increase compared to ¥1,311,609,533.76 in 2020[21]. - The net profit attributable to shareholders decreased by 21.68% to ¥117,226,645.81 from ¥149,674,014.25 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥95,945,924.67, down 30.14% from ¥137,347,436.10 in 2020[21]. - The basic earnings per share fell by 40.25% to ¥0.95 from ¥1.59 in 2020[21]. - The total assets at the end of 2021 reached ¥2,546,297,220.35, an increase of 85.19% from ¥1,374,986,952.00 at the end of 2020[21]. - The net assets attributable to shareholders increased by 89.22% to ¥1,651,203,209.34 from ¥872,630,475.34 in 2020[21]. - The net cash flow from operating activities was ¥58,281,229.22, a decrease of 32.23% compared to ¥85,992,447.14 in 2020[21]. - The weighted average return on equity was 7.55%, down 11.21% from 18.76% in the previous year[21]. - The company reported a diluted earnings per share of ¥0.95, consistent with the basic earnings per share[21]. - The company achieved total operating revenue of ¥1,692,380,764.52, representing a year-on-year growth of 29.03%[62]. - Relay sales accounted for ¥1,485,136,970.60, which is 87.75% of total revenue, showing a 19.90% increase from ¥1,238,694,862.32 in 2020[79]. - Domestic revenue was ¥1,365,356,678.40, making up 80.68% of total revenue, with a 25.48% increase from ¥1,088,065,936.66 in 2020[79]. - Overseas revenue increased by 46.29% to ¥327,024,086.12, up from ¥223,543,597.10 in 2020, representing 19.32% of total revenue[79]. Dividends and Capital Plans - The company plans to distribute a cash dividend of 3.00 yuan (including tax) for every 10 shares based on a total of 125,629,513 shares, with no bonus shares issued[5]. - The company has a capital reserve plan to increase the share capital by 4 shares for every 10 shares held[5]. Market and Industry Trends - The relay market is projected to reach 50.27 billion by 2025, with an average growth rate of approximately 5.2% from 2020 to 2025[32]. - The global smart grid market is expected to grow from 23.8 billion in 2018 to 61.3 billion in 2023, indicating strong investment trends[35]. - The global transformer market is anticipated to maintain a compound annual growth rate of 4.35%, reaching 10.7 billion by 2026[35]. - The demand for soft magnetic materials is projected to increase from 240,000 tons in 2020 to 490,000 tons by 2025, with a compound annual growth rate of 15.4%[35]. Research and Development - The company has a strong R&D team with 528 authorized patents as of December 31, 2021, including 74 invention patents[49]. - The company’s R&D investment totaled 73,699,303.16 yuan, accounting for 4.35% of operating revenue, focusing on various relay types[68]. - The company has developed a strong R&D and technological innovation advantage, enabling rapid development of new products to meet market demands[50]. - The company is investing 50 million in R&D for new technologies aimed at enhancing product efficiency and sustainability[179]. Acquisitions and Expansion - The company acquired a 55% stake in Qingxian Zeming Langxi Electronic Devices Co., Ltd. in June 2021, expanding its product line to include current transformers[36]. - The company completed the acquisition of Qingxian Zeming in June 2021, which contributed to a one-time gain recognized in the financial results[98]. - The company has established subsidiaries in Canada, South Korea, and Germany to enhance regional sales efforts and strengthen customer relationships[57]. - The company is in the process of constructing new factories in Dongguan and Ningbo, with total investments of ¥42,918,345.01 and ¥33,696,170.40 respectively[111]. Operational Efficiency and Strategy - The company is focusing on digitalization and smart management in its operations to adapt to industry changes and enhance efficiency[32]. - The company has implemented a vertical integration strategy to enhance its component manufacturing capabilities, increasing the production ratio of core components[54]. - The company has established a comprehensive supplier management system, integrating supply chain and information management[73]. - The company is enhancing its talent acquisition and training systems to support sustainable development and innovation capabilities[140]. Risks and Challenges - The company faces risks related to product concentration, particularly in the home appliance and electrical equipment manufacturing sectors[141]. - The ongoing COVID-19 pandemic presents risks such as reduced operational capacity, supply chain disruptions, and delayed deliveries from downstream customers[146]. - Rising labor costs due to economic growth and improved labor regulations pose a risk to future operating profits if automation investments are not sustained[145]. - The company is exposed to investment and operational risks in its overseas markets due to varying political, legal, and market environments[141]. Corporate Governance - The company maintains a complete and independent business system, ensuring no interference from the controlling shareholder in decision-making[154]. - The company has established specialized committees within the board to enhance governance and decision-making processes[156]. - The company complies with all relevant corporate governance regulations, ensuring no significant discrepancies exist[160]. - The company held four shareholder meetings during the reporting period, ensuring compliance with relevant laws and regulations[153]. Employee and Management Information - The total number of employees at the end of the reporting period was 3,807, including 956 at the parent company and 2,851 at major subsidiaries[198]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 5.497 million[188]. - The company has established a remuneration plan for directors and senior management based on their positions and performance evaluations[186]. - The company’s compensation policy is designed to promote long-term mutual development between the company and its employees, focusing on performance and capability[200].