CCG(605099)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was RMB 2,301,660,263.01, representing a 24.39% increase compared to RMB 1,850,288,253.27 in 2020[25]. - The net profit attributable to shareholders of the listed company decreased by 7.45% to RMB 380,293,419.69 from RMB 410,922,324.35 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 355,158,574.81, down 7.53% from RMB 384,096,686.76 in 2020[25]. - The net cash flow from operating activities was RMB 255,649,774.43, a decrease of 36.81% compared to RMB 404,546,476.91 in 2020[25]. - The total assets at the end of 2021 were RMB 2,398,875,677.46, reflecting a 15.87% increase from RMB 2,070,381,367.43 at the end of 2020[25]. - The net assets attributable to shareholders of the listed company increased by 9.94% to RMB 1,998,801,865.06 from RMB 1,818,038,399.70 in 2020[25]. - The weighted average return on equity decreased to 20.29%, down 13.51 percentage points from the previous year[26]. - The basic earnings per share for the year was RMB 0.95, a decline of 14.41% compared to the previous year[26]. - The gross profit margin for artificial turf decreased by 9.01 percentage points to 28.02%[76]. - The company achieved a total revenue of 2.291 billion RMB, representing a year-on-year growth of 24.26%[84]. Market Expansion and Sales - The company achieved a total sales volume of artificial turf products of 66.59 million square meters, representing a year-on-year growth of 29.78%[37]. - In 2021, the international market achieved sales revenue of 2,017.23 million yuan, a year-on-year increase of 30.54%, accounting for 87.64% of the company's total revenue[39]. - Sales revenue from leisure grass products reached 1,646.69 million yuan, up 31.62% year-on-year, driven by strong market demand[42]. - Domestic market sales revenue was 284.43 million yuan, a decline of 6.73% year-on-year, primarily due to the impact of COVID-19 on the sports grass market[39]. - The company’s artificial turf products are exported to over 120 countries and regions, demonstrating its extensive market reach[58]. - The company plans to continue expanding its global sales layout and enhancing customer loyalty[73]. Production and Capacity - The production volume of artificial turf reached 69.56 million square meters, an increase of 29.51% year-on-year, with the Vietnam production base significantly contributing to capacity release[43]. - The company has a total production capacity of 160 million square meters of artificial turf, with specific capacities of 16 million in Huai'an, 40 million in Huai'an Industrial Park, 24 million in the first phase of Vietnam, and 30 million in the second phase of Vietnam[55][57]. - The company plans to expand its production capacity to 50 million square meters annually in Vietnam, which will further increase its total capacity to 160 million square meters[57]. Research and Development - The company launched approximately 300 innovative products in 2021, enhancing its position in the artificial turf market[44]. - The R&D team consists of 368 personnel, with 43 authorized patents, including 17 invention patents and 26 utility model patents[69]. - The company invested CNY 74.23 million in R&D during the reporting period, accounting for 3.23% of its operating revenue[134]. - The company intends to increase R&D investment to drive innovation and develop new products, processes, and equipment[127]. Risk Management - The company has outlined potential risks in its future development strategy, which investors should be aware of[8]. - The company faces risks from intensified market competition, with a market share of 15% in 2019, which may pressure pricing and operational performance[129]. - The ongoing COVID-19 pandemic poses risks to production and logistics, potentially affecting the company's operations in Huai'an and Vietnam[140]. Governance and Management - The company held 1 annual and 3 extraordinary shareholder meetings during the reporting period, ensuring compliance with governance regulations[142]. - The board of directors convened 10 meetings during the reporting period to ensure effective decision-making[145]. - The company has established effective communication channels with investors, enhancing transparency and information disclosure[146]. - The management team includes experienced professionals with backgrounds in finance, management, and engineering, ensuring strong leadership[158]. Profit Distribution - The company plans to distribute a cash dividend of RMB 4.72 per 10 shares (including tax) based on the total share capital as of the dividend record date[6]. - The proposed cash dividend for 2021 is 4.72 yuan per 10 shares (including tax), totaling 189,986,608 yuan (including tax) based on a total share capital of 402,514,000 shares[192]. - The company maintains a cash dividend policy where at least 80% of profits should be distributed as cash dividends if in a mature stage without major capital expenditures[186].