Financial Performance - The company's operating revenue for 2021 was CNY 488,786,681.58, representing a slight increase of 0.13% compared to CNY 488,170,942.02 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 92,647,061.01, a decrease of 8.23% from CNY 100,958,873.43 in 2020[20]. - The net profit after deducting non-recurring gains and losses was CNY 88,520,958.25, down 5.07% from CNY 93,251,838.12 in the previous year[20]. - The net cash flow from operating activities increased by 20.90% to CNY 105,564,640.41, compared to CNY 87,312,360.44 in 2020[20]. - The total assets at the end of 2021 reached CNY 1,037,858,758.32, a significant increase of 69.24% from CNY 613,246,330.79 at the end of 2020[20]. - The net assets attributable to shareholders rose by 112.06% to CNY 831,964,861.45, compared to CNY 392,318,910.92 at the end of 2020[20]. - The basic earnings per share for 2021 were CNY 0.72, a decrease of 21.74% from CNY 0.92 in 2020[20]. - The weighted average return on equity for 2021 was 15.11%, down from 28.84% in 2020, indicating a decline in profitability[20]. - The company achieved operating revenue of 48,878.67 million yuan, a slight increase of 0.13% year-on-year[51]. - Operating profit decreased by 8.86% year-on-year to 10,818.64 million yuan, while net profit attributable to shareholders fell by 8.23% to 9,264.71 million yuan[51]. Dividend Distribution - The company plans to distribute a cash dividend of 2.70 RMB per 10 shares to all shareholders, based on a total of 146,400,000 shares[5]. - A cash dividend of CNY 2.70 per 10 shares (including tax) was proposed, totaling CNY 39,528,000.00, which represents 100% of the total profit distribution[154]. - The company has no plans for capital reserve conversion or bonus shares distribution for the reporting period[154]. - The company will maintain a cash dividend ratio of at least 80% during mature phases without major expenditures, and at least 40% with significant spending[177]. - The company’s profit distribution decisions will involve thorough research and consideration of various financial conditions and shareholder interests[177]. Research and Development - The company is focusing on the development of new sealing materials, including metal-coated boards, to meet personalized user demands and replace imported products[33]. - The company has successfully launched the first phase of the thick-coated metal-coated board production line, which has passed user testing and generated sales revenue[33]. - The company is actively expanding into the new energy sector, with ongoing R&D for hydrogen fuel cell-related products and electric drive systems for new energy vehicles[35]. - The company has formed a research and development collaboration with renowned universities for hydrogen fuel cell technology and solid oxide fuel cells[36]. - The company is focusing on R&D for cylinder gaskets that meet the National VI emission standards, which is crucial for improving competitiveness in the diesel engine gasket sector[77]. - The company is developing high-reliability graphite stainless steel gaskets to meet the increasing domestic emission standards for engines, which will enhance the sealing performance and extend the engine's lifespan[78]. - The company has applied for 8 patents during the reporting period, including 1 invention patent and 7 utility model patents, with R&D investment increasing by 7.01% to 2,286.10 million yuan[60]. Market Trends and Challenges - The commercial vehicle market saw a decline in production and sales by 10.7% and 6.6% respectively in 2021, impacting the company's core business[30]. - The company aims to maintain its leading position in traditional markets while addressing challenges posed by the transition to new energy vehicles[35]. - The automotive market in China is expected to maintain stable demand in 2022, despite challenges such as chip shortages and high raw material prices[108]. - The company faces risks from macroeconomic fluctuations and intensified market competition, particularly in the commercial vehicle sector[114]. - The transition to non-asbestos sealing materials is gaining momentum, with domestic companies gradually capturing market share from foreign competitors[107]. Corporate Governance - The company adheres to regulatory requirements for corporate governance, ensuring compliance and protecting shareholder interests[122]. - The company maintains a strict governance structure, ensuring no interference from controlling shareholders in decision-making processes[124]. - The company emphasizes transparency and timely information disclosure, utilizing multiple channels to communicate with investors[124]. - The company has established a robust investor relations management system to enhance communication and protect shareholder rights[124]. - The company has a clear separation of personnel, ensuring that senior management does not hold positions in controlling entities[127]. Sustainability and Social Responsibility - The company has actively engaged in social responsibility initiatives, including supporting local businesses during the pandemic and organizing community volunteer activities[165]. - The company adheres to national environmental protection standards and has implemented an ISO14001-based environmental management system to prevent pollution and ensure compliance[169]. - The company promotes a "green operation" philosophy, encouraging practices such as paperless offices and resource sharing to enhance sustainability[169]. Employee Management - The company has a total of 484 employees at the end of the reporting period, with 334 in production, 31 in sales, 50 in technical roles, 10 in finance, 54 in administration, and 5 in other categories[150]. - Employee training in 2022 focused heavily on safety, followed by technical and process development, aiming to enhance overall employee skills and business performance[153]. - The company is focused on retaining technical talent and has established mechanisms to enhance employee engagement and performance[119]. Financial Management - The company has established measures to stabilize stock prices, including public explanations for any failure to implement these measures[189]. - The company will not distribute cash dividends in the current and future years if it violates share lock-up commitments, until full compliance is met[189]. - The company has committed to ensuring that its initial public offering (IPO) prospectus does not contain false records or misleading statements, and will bear legal responsibility for any inaccuracies[183]. - The company will publicly disclose reasons for not implementing price stabilization measures and apologize to shareholders if such measures are not taken[183].
密封科技(301020) - 2021 Q4 - 年度财报