江南奕帆(301023) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 206,426,143.60, representing an increase of 11.91% compared to CNY 184,462,483.92 in 2020[24] - The net profit attributable to shareholders for 2021 was CNY 65,528,004.43, a decrease of 3.48% from CNY 67,890,895.72 in the previous year[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 59,098,969.63, down 4.51% from CNY 61,888,127.45 in 2020[24] - The net cash flow from operating activities for 2021 was CNY 72,144,427.30, a decline of 5.27% compared to CNY 76,159,714.68 in 2020[24] - The basic earnings per share for 2021 was CNY 2.05, a decrease of 15.29% from CNY 2.42 in the previous year[24] - The gross profit margin declined to 45.73%, down 8.79% compared to the previous year, primarily due to rising commodity prices and exchange rate fluctuations[61][62] - The company achieved a revenue of ¥206,426,143.60 in 2021, representing a year-on-year increase of 11.91%[51] - The company reported a total revenue of 513.49 million for the year 2021[153] Assets and Liabilities - The total assets at the end of 2021 amounted to CNY 904,445,174.92, an increase of 176.84% from CNY 326,705,203.23 at the end of 2020[25] - The net assets attributable to shareholders at the end of 2021 were CNY 807,500,283.04, up 207.20% from CNY 262,862,324.25 at the end of 2020[25] - The company's total liabilities included accounts payable of ¥37.34 million, which accounted for 4.13% of total assets, down from 10.10% at the beginning of the year, a decrease of 5.97% due to increased raw material purchases[87] - The company reported a total of ¥104.87 million in restricted assets, primarily due to cash deposits and collateral for loans[90] Research and Development - Research and development investment increased by 19.11% to CNY 9.84 million, focusing on upgrading existing products and developing new ones[61] - The company has achieved the goal of forming independent intellectual property rights through its R&D projects, which are expected to drive high-quality development[76] - The company completed the development of a compact high-voltage circuit breaker with a built-in dual-direction clutch, aimed at enhancing safety and operational reliability[76] - The company is developing a linear actuator motor in collaboration with RV accessory companies, focusing on low noise and multi-rod synchronous control capabilities[52] Market Position and Strategy - The company operates in the micro special reduction motor sector, focusing on customized solutions for the power distribution and RV accessory industries, with a product range of nearly 3,000 specifications[39] - The RV market in China saw a sales growth of 74% from January to November 2021, indicating a strong market potential for the company's products[38] - The high-voltage switch industry in China is expected to grow at a compound annual growth rate of 4.9% from 2019 to 2024, providing a favorable environment for the company's expansion[35] - The company has established long-term partnerships with renowned global clients such as Siemens and Schneider Electric, enhancing its market position[39] Corporate Governance - The company has established a robust corporate governance structure, including a complete and independent internal management system[131] - The company has held multiple shareholder meetings, with participation rates of 100% for the first annual meeting and around 75% for subsequent meetings[132] - The company has a clear structure for its supervisory board, with members having relevant industry experience[145] - The company has maintained a stable management team, with key personnel holding their positions for several years[146] Shareholder Actions and Dividends - The company plans to distribute a cash dividend of CNY 5.00 per 10 shares to all shareholders, based on a total of 37,333,500 shares[6] - The total cash dividend, including other methods, amounted to RMB 18,666,750, which represents 100% of the total distributable profit of RMB 265,879,845.97[173] - The company has adhered to its profit distribution policy, ensuring that all procedures and mechanisms are complete and transparent[171] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20%[200] - New product launches are expected to contribute an additional $50 million in revenue in the upcoming year[200] - Market expansion plans include entering three new international markets by the end of 2022[200] - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[200] Employee Management - The company has implemented various employee welfare policies, including meal subsidies and employee stock ownership plans to attract and retain talent[167] - The company has established a training program to enhance employee skills and ensure coverage across different levels and types of staff[168] - The total remuneration paid to directors, supervisors, and senior management in 2021 amounted to 5.1349 million yuan[151] Risk Management - The company has outlined potential risks and countermeasures in its future development outlook, which investors should be aware of[6] - The company is aware of international trade policy risks, particularly due to tariffs imposed by the U.S. government on Chinese products, which could adversely affect its export business[112][113] - The company plans to implement measures such as product and technology R&D, diversified raw material procurement, and supply chain management to mitigate the risk of declining gross margins[114]