Financial Performance - The company reported a profit distribution plan of 6.00 RMB per 10 shares (including tax) for all shareholders, based on a total of 66,277,427 shares[6]. - The company's operating revenue for 2021 was ¥384,916,466.51, representing a 70.14% increase compared to ¥226,232,662.02 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥80,476,737.63, a 45.30% increase from ¥55,385,255.94 in 2020[25]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥67,703,131.68, up 44.78% from ¥46,762,780.81 in 2020[25]. - The total assets at the end of 2021 reached ¥975,913,268.48, a significant increase of 160.71% from ¥374,333,380.06 at the end of 2020[25]. - The net assets attributable to shareholders at the end of 2021 were ¥723,341,421.86, reflecting a 193.23% increase from ¥246,681,027.29 at the end of 2020[25]. - The company reported a basic earnings per share of ¥1.36 for 2021, which is a 22.52% increase compared to ¥1.11 in 2020[25]. - The company experienced a net cash flow from operating activities of ¥25,069,510.44 in 2021, an 11.17% increase from ¥22,549,647.29 in 2020[25]. Market Position and Strategy - The company is focusing on high-end markets in the circuit protection device sector, particularly in emerging industries such as new energy vehicles and renewable energy[39]. - The company has established stable partnerships with major clients in the new energy vehicle supply chain, including Tesla and BYD[42]. - The rapid development of industries such as new energy and digital technology is expected to drive further growth in the fuse market, with increasing demands for performance and reliability[39]. - The company has established a clear strategic layout, focusing on emerging industries and continuously developing new products to capture market demand[54]. - The company has entered the new energy vehicle market early, supplying major domestic and international brands, including Tesla and Daimler[55]. - The company has gained significant market share in the domestic electric fuse market, with a strong competitive advantage in high-end segments like new energy vehicles and renewable energy[57]. - The company has established partnerships with industry leaders such as Ningde Times and Huawei, indicating strong market relationships in the renewable energy sector[57]. Research and Development - The company holds a total of 135 national patents, including 2 invention patents and 129 utility model patents, demonstrating a strong focus on technology research and innovation[43]. - The company has developed nearly 60 product series and over 6,000 product specifications, primarily serving high-end markets such as new energy vehicles and renewable energy[47]. - The company has a mature technical team of nearly 120 professionals, with a focus on talent development and innovation[63]. - Research and development expenses rose by 90.26% year-on-year to 27.87 million yuan, driven by increased activities in new product and technology development[85]. - The number of R&D personnel increased by 71.43% to 120 in 2021, with a higher proportion of staff holding bachelor's degrees[89]. - The company aims to enhance its R&D efforts and develop new products, particularly in the high-end market for power fuses, while expanding into new fields such as rail transit and renewable energy[190]. - New product development will focus on innovative fuses and smart fuses to cultivate new growth points for the company[197]. Operational Efficiency - The company has a robust sales model, primarily focusing on direct sales while also leveraging distributors to expand market coverage[50]. - The company has a strict supplier evaluation process to ensure the quality and reliability of raw materials, which is crucial for maintaining product standards[48]. - The company achieved total operating revenue of ¥384,916,466.51 in 2021, representing a year-on-year increase of 70.14% compared to ¥226,232,662.02 in 2020[70]. - The company's sales volume of electric fuses reached 1,393.25 million units in 2021, a year-on-year increase of 56.78% compared to 888.67 million units in 2020[76]. - The production volume of electric fuses was 1,601.5 million units in 2021, up 79.26% from 893.41 million units in 2020[76]. - The company's operating costs increased by 80.06% year-on-year to 228.49 million yuan, with the cost of electric fuses and accessories accounting for 98.30% of total operating costs[80]. - The company's direct sales to customers accounted for 79.65% of total revenue, amounting to ¥306,579,015.72, reflecting a year-on-year growth of 84.83%[70]. Financial Management - The company reported a total of 39,618.37 million RMB raised from its initial public offering, with a net amount of 396,183,656.94 RMB after deducting issuance costs[115]. - The company plans to use up to 35,000 million RMB of idle raised funds for cash management, ensuring it does not affect project construction and normal operations[119]. - The company has not changed the purpose of the raised funds, with a cumulative change amount of 0[115]. - The company raised a net amount of RMB 396.18 million from its initial public offering, with an excess of RMB 33.85 million allocated for other uses[141]. - As of December 31, 2021, the company had an unused balance of RMB 230.87 million from idle raised funds for cash management, with RMB 13.02 million remaining in the special account[181]. Future Outlook - The company plans to focus on the rapidly growing circuit protection component market, particularly in the electric vehicle sector, which is projected to account for 20% of new car sales in China by 2025[189]. - The company will invest in the development of intelligent fuses and accelerate the mass production process, while also exploring long-term smart automotive technology needs[193]. - The company will maintain a focus on market demand and actively explore new customer needs while adhering to national industrial policies[192]. - In 2022, the company will move to a new facility with an area of approximately 69,000 square meters, aimed at improving production management and quality control[195]. - The company will continue to increase R&D investment to upgrade and optimize main products, meeting market and customer demands[197]. - The company aims to enhance its strategic research foresight and improve its R&D innovation capabilities and market competitiveness[197]. - In 2022, the company plans to further improve its performance evaluation system to ensure effective operation[200].
中熔电气(301031) - 2021 Q4 - 年度财报