CFT(SH:603685)2022-11-17 14:24Profit Distribution - The company plans to distribute a cash dividend of 1.20 CNY per 10 shares, totaling 20,280,000.00 CNY (tax included) based on a total share capital of 16.9 million shares as of December 31, 2021 [1] - The profit distribution plan for 2021 is subject to approval at the annual general meeting scheduled for May 17, 2022 [2] Impact of COVID-19 - The company experienced significant operational disruptions due to COVID-19, particularly in April when the parent company halted production [2] - Logistics have been severely affected by the pandemic, but a gradual recovery is expected in the second half of the year if the situation improves [2] Currency Fluctuations - Approximately 20% of the company's business is export-oriented, thus the recent depreciation of the RMB has minimal impact on operations [2] Overseas Operations - The overseas factory in India is currently expanding, with plans to lease an additional factory space of approximately 60,000 square feet and complete the construction of a self-built factory by the end of the year [2] - The labor costs in India are significantly lower than in China, providing a competitive advantage [2] Domestic Expansion - The company is not planning significant domestic expansion outside of the lighting sector, but is exploring opportunities in kitchenware and automotive parts [2] - The subsidiary, Haining Mingyi Electronics, is focusing on die-casting components, including high-power LED heat sinks and kitchen appliance parts [2] Material Cost Management - The company has initiated hedging activities to manage raw material price fluctuations and is employing centralized and strategic purchasing methods [3] - Efforts are being made to enhance organizational efficiency and budget control to mitigate the impact of rising material costs [3] Corporate Governance - The company has decided not to adjust the conversion price of its convertible bonds as per the board meeting held on April 27, 2022 [3]