JIN LEI(300443)2022-02-25 16:00Financial Performance - The company reported a significant increase in revenue, with a total of 261,753,484.00 RMB for the year 2021, maintaining a stable cash dividend distribution of 0.00 RMB per 10 shares[11]. - The company's operating revenue for 2021 was approximately ¥1.65 billion, an increase of 11.80% compared to ¥1.48 billion in 2020[34]. - The net profit attributable to shareholders for 2021 was approximately ¥496.38 million, a decrease of 4.95% from ¥522.23 million in 2020[34]. - The net cash flow from operating activities increased by 78.00% to approximately ¥293.80 million in 2021, compared to ¥165.06 million in 2020[34]. - The total assets at the end of 2021 were approximately ¥3.58 billion, reflecting a growth of 14.85% from ¥3.11 billion at the end of 2020[34]. - The company's weighted average return on equity for 2021 was 16.31%, down from 23.24% in 2020, indicating a decrease of 6.93%[34]. - The basic earnings per share for 2021 were ¥1.90, a decline of 12.04% from ¥2.16 in 2020[34]. - The net profit after deducting non-recurring gains and losses was approximately ¥442.35 million, a decrease of 3.09% from ¥456.44 million in 2020[34]. - The company achieved a revenue of 1.651 billion yuan and a net profit of 496 million yuan during the reporting period[57]. - The company reported a significant increase in cash flow from operations, with the fourth quarter showing a net cash flow of approximately ¥2.40 million[38]. Market Strategy and Expansion - The company is focusing on expanding its market presence in the precision transmission shaft sector, increasing investment in new products, technologies, and processes to enhance core competitiveness[6]. - The company has a balanced development strategy focusing on both domestic and international markets, ensuring adaptability to changing trade policies[10]. - The company is actively expanding its horizontal product range, targeting industries such as cement, mining, energy generation, metallurgy, and shipping[61]. - The company is positioned to benefit from the national push for renewable energy, with significant government support for wind power development[52]. - The company is well-aligned with China's dual carbon goals, which aim for peak carbon emissions by 2030 and carbon neutrality by 2060, driving long-term growth in the wind power sector[51]. - The company is focused on the research, development, and sales of wind turbine main shafts and large castings, enhancing its market share in the wind power industry[49]. - The company has established strategic partnerships with major global wind turbine manufacturers, enhancing its market position[61]. - The company is currently working on an intelligent paint mixing system to enhance efficiency and reduce waste in the coating process for wind turbine components[103]. Risk Management - The company faces risks related to macroeconomic fluctuations and changes in the wind power industry, which could affect market demand and operational stability[6]. - The company is closely monitoring global wind power market fluctuations and adjusting its business direction and product offerings accordingly to mitigate risks from policy changes and economic conditions[10]. - The company is actively managing foreign exchange risks due to its substantial export business, implementing strategies to mitigate the impact of currency fluctuations on sales revenue[11]. - The company acknowledges the potential impact of government policies on the wind power market and is prepared to adjust its strategies in response to significant industry changes[7]. Research and Development - The company applied for 8 patents and was granted 10 patents during the reporting period, reflecting its commitment to R&D and technology advancement[62]. - The company has developed 29 new types of wind turbine spindle products, contributing to its technological innovation efforts[77]. - The company’s R&D investment has been a key focus, with a significant portion of revenue allocated to various projects[102]. - The company's R&D investment in 2021 amounted to ¥62,128,721.75, a decrease of 1.03% from ¥62,773,912.68 in 2020, with the R&D expenditure accounting for 3.76% of operating revenue[107]. - The company has successfully processed hydropower shafts, enhancing precision control and laying the groundwork for future mass production of hydropower products[99]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholders' rights[152]. - The company emphasizes the importance of information disclosure and investor relations, ensuring timely and accurate communication with stakeholders[156]. - The company is committed to maintaining high standards of corporate governance and transparency following the board changes[175]. - The company has implemented a performance evaluation and incentive mechanism for its senior management, linking compensation to operational performance[156]. - The company has no reported penalties from securities regulatory agencies for current or recently departed directors, supervisors, and senior management[184]. Operational Efficiency - The company emphasizes the importance of project management optimization to ensure timely project completion and expected returns on investments[11]. - The company has implemented a comprehensive quality control process, achieving various industry certifications and awards for product quality[67]. - The company has a balanced internal and external sales structure, maintaining a strong market response capability and brand advantage[68]. - The company plans to enhance its forging business by optimizing management and increasing customer engagement to secure bulk orders[140]. - The company aims to improve operational efficiency and increase market share through strategic initiatives and potential acquisitions[179]. Financial Investments - The company reported an investment amount of ¥50,000,000 for the current period, a 100% increase compared to ¥0 in the same period last year[117]. - The fair value change gain for financial assets was ¥53,071,465.85, with a total investment return of ¥136,185,293.41, resulting in a final amount of ¥209,625,293.41[117]. - As of December 31, 2021, the company had utilized ¥49,714.52 million of the raised funds for offshore wind power main shaft and other precision transmission shaft construction projects[122]. - The company has completed the procedures for the cancellation of the special account for raised funds, with no unused raised funds remaining as of December 31, 2021[132]. Shareholder Engagement - The company held three shareholder meetings during the reporting period, all conducted in compliance with legal requirements[153]. - The annual shareholders meeting had a participation rate of 42.36% on March 1, 2021[158]. - The first extraordinary shareholders meeting on May 13, 2021, also had a participation rate of 42.36%[161]. - The second extraordinary shareholders meeting on December 27, 2021, had a participation rate of 41.66%[161]. - The company is committed to protecting investors' rights and has implemented measures to ensure compliance[164].