天奥电子(002935) - 天奥电子调研活动信息-

Financial Performance - In 2021, the company's revenue reached 1,042.94 million CNY, an increase of 13.81% compared to the previous year [2] - Net profit for 2021 was 118.40 million CNY, up 16.71% year-on-year; net profit attributable to shareholders was 110.67 million CNY, a growth of 29.39% [2] - Operating cash flow increased significantly by 619.77%, totaling 109.48 million CNY [2] - In Q1 2022, revenue grew by 9.21%, but net profit saw a decline due to a more than 50% increase in sales expenses [3] Product Performance - Revenue from frequency series products, including crystal oscillators and atomic clocks, showed significant growth; however, time synchronization products remained stable due to pandemic-related delays [3] - The Beidou satellite watch has shown promising sales, ranking sixth among domestic watches during the Double Eleven shopping festival [3] - The company’s military and civilian products accounted for over 75% of revenue in 2021, with civilian products including atomic clocks and Beidou satellite watches [4] Strategic Developments - The company established a Power Components Division to focus on power supply products for critical national platforms [3] - A new series of Beidou satellite watches is set to be launched, with increased resources allocated for development and marketing [4] - The company has made adjustments to its organizational structure in line with the "14th Five-Year Plan" [3] Shareholder Returns - In 2021, the company distributed a cash dividend of 1.5 CNY per 10 shares and increased shares by 3 for every 10 shares, reflecting its commitment to shareholder returns [3] - Over the past three years, cash dividends have exceeded 30% of the company's net profit [3] Future Outlook - The company is working on the CPT atomic clock technology, aiming to address challenges in miniaturization and efficiency [4] - The transition of 230 million CNY in construction projects to fixed assets is expected to impact annual depreciation and operational costs significantly [5]