PAIKE(605123)2022-03-15 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥1.73 billion, representing a 68.65% increase compared to ¥1.03 billion in 2020[22]. - The net profit attributable to shareholders for 2021 was approximately ¥304.09 million, an increase of 82.59% from ¥166.54 million in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥286.38 million, reflecting a 91.14% increase from ¥149.83 million in 2020[22]. - The cash flow generated from operating activities was approximately ¥6.09 million, a decrease of 54.10% compared to ¥13.27 million in 2020[22]. - Basic earnings per share increased by 52.16% to ¥2.8156 in 2021 from ¥1.8505 in 2020[26]. - The weighted average return on net assets rose to 17.89% in 2021, an increase of 1.01 percentage points from 16.88% in 2020[26]. - Total revenue for the year was 1,733,347,550.09 RMB, representing a significant growth of 68.65% compared to the previous year, with a net profit attributable to shareholders of 304,086,600 RMB, up 82.59% year-on-year[61]. - The gross margin for the forging industry improved slightly by 0.6 percentage points to 30.71%, with a year-on-year revenue increase of 65.40%[63]. Assets and Liabilities - The net assets attributable to shareholders reached ¥1,824,350,453.50 at the end of 2021, an increase of 15.80% compared to ¥1,575,373,822.25 at the end of 2020[25]. - Total assets increased by 31.69% to ¥3,132,798,046.14 in 2021 from ¥2,378,890,639.80 in 2020[25]. - The company's cash and cash equivalents increased by 69.11% to ¥515,876,348.11, accounting for 16.47% of total assets[84]. - The accounts receivable rose to ¥615,506,131.30, a 32.22% increase from the previous period[84]. - The total manufacturing costs increased to ¥56,519,397.49, a 77.31% increase compared to the previous period[72]. - Accounts payable increased by 53.05% year-on-year, driven by higher raw material purchases and outsourcing[87]. Research and Development - The company holds 68 patents, including 40 invention patents, indicating strong R&D capabilities in the forging industry[52]. - The company’s research and development expenses rose to 78,787,414.31 RMB, an increase of 83.59% year-on-year, reflecting a commitment to enhancing aerospace and new energy product development[61]. - The R&D investment as a percentage of operating income was 4.55%[78]. - The company has participated in multiple national key R&D projects, demonstrating its commitment to innovation and technology advancement[55]. Market and Industry Trends - The company has initiated multiple first-piece development projects for orders from Rolls-Royce and GE in the aviation sector[40]. - The company achieved CE certification for wind power products, indicating a commitment to increasing investment in wind power product development[40]. - The forging industry in China has seen a cumulative output value growth of 29.008 billion yuan since 2016, with an average annual compound growth rate of 5.02%[43]. - The global wind power industry saw a 53% year-on-year increase in new installations, reaching 93 GW in 2020, with offshore wind accounting for approximately 7% of this total[97]. Governance and Compliance - The company has established a robust internal control system and governance structure, complying with relevant laws and regulations to protect shareholders' rights[130]. - The board of directors has set up four specialized committees: Strategy Committee, Compensation and Assessment Committee, Audit Committee, and Nomination Committee, to enhance governance effectiveness[131]. - The company adheres to strict information disclosure practices, ensuring that all shareholders have equal access to information in a timely and accurate manner[132]. - The independent directors consistently provide independent opinions on major matters, safeguarding the interests of all shareholders, especially minority shareholders[131]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[61]. - The company aims to enhance its technological capabilities to adapt to the diversification of raw materials and optimize traditional petrochemical industries[96]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 100 million allocated for potential deals[145]. - The company plans to establish a subsidiary in Europe as part of its market expansion strategy[152]. Employee and Community Engagement - The company employed a total of 687 staff members, with 311 in production, 64 in sales, 159 in technology, 8 in finance, and 145 in administration[163]. - The company conducted 88 training sessions throughout 2021, focusing on various skills and compliance training for employees[167]. - The company has committed to increasing its annual scholarship and assistance fund to 200,000 RMB for the Northwest Polytechnical University from 2021 to 2031[185]. - The company has committed to donating 100,000 RMB to the Wuxi Charity Foundation for disaster relief in 2021[185].