J-Micro(300819)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was ¥480,329,632.98, representing a 38.18% increase compared to ¥347,602,064.10 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥30,669,928.72, a significant increase of 427.92% from ¥5,809,600.39 in 2020[21]. - The basic earnings per share for 2021 was ¥0.31, up 416.67% from ¥0.06 in 2020[21]. - The total assets at the end of 2021 were ¥948,818,931.02, a decrease of 1.62% from ¥964,420,619.67 at the end of 2020[21]. - The company achieved operating revenue of ¥480,329,632.98, an increase of 38.18% compared to the previous year[41]. - Net profit attributable to shareholders reached ¥30,669,928.72, marking a significant increase of 427.92% year-on-year[41]. - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-over-year growth of 15%[171]. - The gross margin for the year was reported at 35%, a slight increase from 32% in the previous year[171]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of ¥32,879,769.03, a decrease of 60.82% compared to the previous year[66]. - The company reported a cash dividend of 3.00 RMB per 10 shares (including tax) based on a total of 99,470,000 shares[142]. - The total cash dividend amount is 29,841,000 CNY, which accounts for 100% of the total profit distribution[142]. - The distributable profit for the year is reported at 173,749,987.52 CNY[142]. - The company will not distribute cash dividends if the proposed cash distribution ratio is below the stipulated minimum without independent director approval[174]. Market Strategy and Expansion - The company aims to expand its market presence and enhance product offerings in the microfiber sector, focusing on new product development and technological advancements[6]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[112]. - The company plans to enhance its R&D capabilities and expand its marketing system to maintain its leading position in the ultra-fine fiber fabric industry[94]. - The company is currently advancing a project for the construction of ultra-fine fiber impregnated fabric, indicating ongoing market expansion efforts[57]. - A strategic acquisition is in progress, which is expected to enhance the company's supply chain efficiency and reduce costs by 10%[112]. Research and Development - The company focused on optimizing production processes and enhancing core technology applications, leading to improved product value[42]. - Research and development investments were increased for new products such as regenerated fiber double-sided fleece and antibacterial double-sided fleece[42]. - The company plans to focus on cultivating and attracting high-quality R&D talent over the next three years to enhance its technical capabilities[137]. - New product development initiatives are underway, with an investment of 233 million allocated for R&D in innovative textile technologies[111]. Environmental Compliance - The company has established a wastewater treatment station and exhaust gas collection and treatment devices to effectively handle wastewater and exhaust generated during production[153]. - The company has received environmental impact assessment approvals and other environmental protection administrative licenses as required by national and local regulations[154]. - The company emphasizes its commitment to environmental protection and sustainable development, implementing measures to improve water reuse rates and reduce carbon emissions through the installation of distributed photovoltaic power stations[162]. - The company faced administrative penalties due to illegal discharge without a pollution discharge permit, resulting in a temporary production halt[158]. Governance and Compliance - The company has established a fair and transparent performance evaluation and incentive mechanism for its executives[105]. - The governance structure is in compliance with the Company Law and Articles of Association, ensuring proper functioning of the general meeting, board of directors, and supervisory board[106]. - The company has conducted a self-assessment of its governance structure, confirming compliance with relevant laws and regulations[149]. - The company is committed to maintaining compliance with relevant laws and regulations in its governance practices[128]. Risk Management - The company has faced potential risks as outlined in the management discussion, including market competition and supply chain challenges[6]. - The company faces financial risks due to potential increases in labor costs and raw material prices, which could impact profit margins[95]. - The company has established emergency mechanisms to mitigate the impact of public health events on its operations[99]. Employee and Management Structure - The total number of employees at the end of the reporting period was 1,303, with 182 in the parent company and 1,121 in major subsidiaries[133]. - The company has a total of 1,020 production personnel, 71 sales personnel, 80 technical personnel, 16 financial personnel, and 45 administrative personnel[133]. - The company has implemented a salary calculation formula that includes basic income and variable wages, ensuring confidentiality in salary distribution for management and administrative positions[136]. Shareholder Relations - The company emphasizes communication with minority shareholders regarding profit distribution proposals, ensuring their opinions are considered[174]. - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO, ensuring stability for investors[167]. - The company will ensure that any related transactions are conducted at market prices and in accordance with relevant regulations[175].