Financial Performance - The company's operating revenue for 2021 was ¥1,500,228,718.35, representing a 27.64% increase compared to ¥1,175,342,861.01 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥202,242,236.54, a 9.79% increase from ¥184,214,405.21 in 2020[19]. - The net profit after deducting non-recurring gains and losses was ¥190,798,588.82, up 11.33% from ¥171,385,433.39 in 2020[19]. - The company's total assets at the end of 2021 were ¥1,641,662,668.74, a 21.70% increase from ¥1,348,925,568.22 at the end of 2020[19]. - The net assets attributable to shareholders increased by 24.10% to ¥1,034,874,201.09 at the end of 2021 from ¥833,879,590.91 at the end of 2020[19]. - The basic earnings per share for 2021 was ¥1.150, reflecting a 9.52% increase from ¥1.050 in 2020[19]. - The weighted average return on equity for 2021 was 21.64%, down from 24.72% in 2020[19]. - The net cash flow from operating activities for 2021 was ¥162,597,281.39, a slight increase of 2.13% from ¥159,201,656.19 in 2020[19]. - The company reported a total revenue of 11,443,647.72 in the current period, a decrease of 4,684,446.73 compared to the previous period[26]. - In 2021, the company achieved a total revenue of 1,500,228,718.35 CNY, representing a year-on-year growth of 27.64%[74]. - The net profit attributable to ordinary shareholders was 20,224,000 CNY, an increase of 9.79% compared to the previous year[74]. - The company reported a total of ¥12,749,062.36 in government subsidies related to normal business operations for 2021[25]. Dividend Distribution - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares to all shareholders, based on a total of 233,600,000 shares[5]. - The company reported a cash dividend of 3.00 yuan per 10 shares, totaling 70,080,000 yuan, which represents 100% of the profit distribution[183]. - The total distributable profit for the year was 286,827,305.81 yuan[183]. Market Outlook and Trends - The FPC market is projected to reach a value of $14.231 billion in 2023, driven by innovations in consumer electronics and the adoption of 5G technology[35]. - The domestic market for new energy vehicles is expected to exceed 5.5 million units in 2022, with a significant increase in demand for FPC in this sector[36]. - The global market for energy storage battery FPC is anticipated to reach between 4.6 billion to 7.9 billion yuan by 2030[37]. - The automotive FPC market is projected to reach 140-240 billion yuan globally and 72-120 billion yuan domestically by 2030[39]. - The global connector market is experiencing rapid growth, with China being the largest market, driven by domestic substitution and policies like "New Infrastructure" and "East Data West Calculation" that will create massive demand[41]. - The Chinese connector market share is continuously expanding, supported by the growth in downstream industries such as 5G networks, new energy vehicles, and consumer electronics[42]. - The LCD display market in China is projected to reach $10.39 billion by 2024, with a compound annual growth rate (CAGR) of 10.62% from 2018 to 2024, significantly outpacing global market growth[44]. Research and Development - The company invests a significant portion of its revenue into R&D, maintaining a competitive edge through continuous technological innovation and optimization of existing technologies[48]. - The company has developed multiple proprietary technologies, including high-precision progressive stamping technology and high-uniformity backlight module technology, which are recognized as industry-leading[69]. - R&D investment amounted to ¥103,352,743.94 in 2021, representing 6.89% of total revenue, an increase from 6.32% in 2020[104]. - The number of R&D personnel increased by 9.50% to 392 in 2021, while the proportion of R&D personnel to total employees slightly decreased by 0.28%[104]. - The company is focusing on enhancing product competitiveness through various R&D projects, including outdoor application backlight sources and LCD connector stamping molds[100]. - The company has increased its R&D investment to develop new products, including CCS and precision structural components for new energy batteries[78]. Production and Operations - The company has established a complete procurement, R&D, production, and sales system, ensuring a sustainable profit model[60]. - The company operates six manufacturing bases across China and India, covering a total area of approximately 120,000 square meters, with ongoing projects to further increase production capacity[70]. - The company has developed a unique operational model that provides comprehensive production services across different product types, catering to the high customization and large-scale demands of its clients[50]. - The company has a precision mold design and manufacturing capability, achieving processing accuracy of ±0.002mm and surface roughness of Ra0.02, which enhances production efficiency and reduces costs[65]. - The company has implemented cost control measures and improved production efficiency, contributing to stable operational performance[79]. - The company has established strong relationships with numerous high-quality clients, including Fortune 500 companies, across various industries such as consumer electronics and automotive electronics[71]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by the environmental protection department[192]. - Total emissions of pollutants include 1.26 tons of hydrochloric acid and 0.816 tons of nitrogen oxides, all within regulatory limits[192]. - The wastewater treatment facilities were upgraded in 2017, employing advanced processes to ensure compliance with environmental standards[195]. - The company achieved a 100% collection rate for organic waste gas and a 99% collection rate for acidic waste gas[196]. - The company has implemented a self-monitoring plan, achieving a 100% monitoring rate for wastewater, waste gas, noise, soil, and groundwater[200]. - The company has committed to regular training and drills for employees to handle potential environmental pollution incidents effectively[199]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[135]. - The company has a complete and independent asset, personnel, financial, institutional, and business structure, ensuring operational independence from controlling shareholders[142]. - The company has established strict safety management and quality control systems to regulate production and operational safety[129]. - The company has implemented strict internal management and control systems to enhance governance levels continuously[133]. - The company has not experienced any changes in the board of directors, supervisors, or senior management during the reporting period[150]. - The company has a governance structure that does not involve any differential voting rights arrangements[149]. Employee and Compensation - The total remuneration paid to directors, supervisors, and senior management amounted to 3.71 million yuan[169]. - The highest remuneration was received by the chairman, totaling 1.0786 million yuan[169]. - The total remuneration for the general manager was 792,400 yuan[169]. - The company has established a comprehensive compensation system based on performance evaluation, work performance, and employee relations[180]. - The company has implemented annual training plans to enhance employees' professional capabilities and management skills[181]. - The total number of employees at the end of the reporting period was 3,148, with 1,824 in the parent company and 1,324 in major subsidiaries[178].
奕东电子(301123) - 2021 Q4 - 年度财报