AVD(SZ:300939)2022-04-14 16:00Financial Performance - The company reported a profit distribution plan of 6.00 RMB (including tax) per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[6]. - The company’s total revenue for 2021 was 800 million RMB, representing a year-on-year increase of 20% compared to 2020[16]. - The net profit attributable to shareholders for 2021 was 120 million RMB, an increase of 15% from the previous year[16]. - The company's operating revenue for 2021 was ¥1,111,485,303.92, representing a 34.88% increase compared to ¥824,064,138.71 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥109,663,859.61, up 31.58% from ¥83,344,899.90 in 2020[20]. - The total revenue for the year was CNY 1,111.49 million, representing a year-on-year increase of 34.88% from CNY 824.06 million[64]. - The company reported a net profit of RMB 109.39 million for the year 2021, with a legal surplus reserve of RMB 10.94 million, leaving an undistributed profit of RMB 98.45 million[190]. User Growth and Market Expansion - User data showed a growth in active users by 30% year-on-year, reaching 1.5 million active users by the end of 2021[16]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[16]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[155]. - The company has expanded its customer base in various sectors, including industrial control, IoT, healthcare, and automotive electronics, with new clients such as Gilbarco and Faurecia[44]. Research and Development - The company has allocated 50 million RMB for research and development in 2022, focusing on innovative display solutions[16]. - The company has increased its R&D investment, focusing on core technologies such as electronic paper modules and autonomous driving laser radar LCD valves[45]. - Research and development expenses increased by 18%, totaling 200 million RMB, to support innovation in product offerings[157]. - The company invested a total of CNY 49.51 million in R&D, accounting for 4.45% of its revenue, maintaining a high level compared to peers[51]. - The company has applied for 12 patents related to electronic paper technology, with 3 invention patents and 2 utility model authorizations granted[47]. Financial Management and Investment - The company has approved the use of raised funds to invest in the construction of the Shenzhen industrial base[174]. - The company plans to adopt a prudent investment strategy, focusing on areas closely related to its main business for external expansion[120]. - The company has committed to maintaining the investment total and usage of raised funds despite the adjustments in project timelines[99]. - The company reported a significant increase in cash and cash equivalents of ¥742,001,901.05, a substantial rise of 4,868.43% from ¥14,934,322.42 in 2020[81]. Governance and Compliance - The company emphasizes transparency in information disclosure, ensuring timely and accurate communication with shareholders through various media outlets[130]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making or operations[129]. - The company has established a comprehensive internal control system to enhance governance and operational efficiency in response to rapid growth[54]. - The company has not faced any penalties from regulatory authorities in the past three years[166]. Risks and Challenges - The company identified potential risks including supply chain disruptions and market competition, with strategies in place to mitigate these risks[6]. - The company faces risks from market competition, particularly in the touch display industry, and aims to maintain its competitive edge through innovation[113]. - The company is aware of potential risks from overseas market fluctuations and will implement measures to mitigate these risks[114]. - The company acknowledges risks associated with the implementation of fundraising investment projects, particularly if market conditions or customer demands change significantly[118]. Talent Development - The company has implemented a talent development strategy focusing on both internal training and external recruitment to strengthen its talent pool[52]. - The company has established a comprehensive training program for employees across different levels and functions to enhance overall quality[185]. - The company emphasizes the importance of talent development and will implement competitive incentive mechanisms to optimize its talent pool[109]. Product Development and Innovation - New product development includes the launch of a next-generation display technology expected to increase production efficiency by 40%[16]. - The company has developed core technologies including high-reliability COG bonding and high-performance PMVA-LCD, enhancing its market competitiveness[30]. - The Touch Plus gesture touch module has completed formal sample production and is in the market expansion process[50]. Shareholder Engagement - The company held one annual general meeting and two extraordinary general meetings during the reporting period, ensuring compliance with legal and regulatory requirements[125]. - The company emphasizes the importance of protecting the interests of minority shareholders in its decision-making[177]. - The company reported a total shareholding of 37,712,317 shares, with significant holdings by key executives[145].