On the evening of April 19, Dongshan Precision released its 2021 annual report. The company achieved operating income of 31.793 billion yuan, a year-on-year increase of 13.17%; net profit attributable to shareholders of listed companies was 1.862 billion yuan, a year-on-year increase of 21.72%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 1.577 billion yuan, a year-on-year increase of 21.17%; basic earnings per share was 1.09 yuan/share.
Dongshan Precision said that during the reporting period, the company closely focused on customer needs, insisted on increasing R&D investment, and worked hard to enhance its core competitiveness. During the reporting period, the operating income of the electronic circuit business continued to grow and achieved good operating results. On the basis of maintaining in-depth cooperation with core customers, MFLEX actively promoted the expansion of emerging businesses such as ARVR and new energy, and strived to give full play to its advantages in customer response, product development, and internal operations. The main operating indicators have achieved steady growth. Multek actively overcame the adverse effects of periodic power restrictions and rising raw material prices, and fully tapped internal potential through the integration of resources and the improvement of management capabilities, and achieved breakthrough operating results.
Dongshan Precision said that the company has always insisted that development is the core priority of the enterprise. Judging the situation, it has responded and deployed in combination with its own capabilities and market position, and further clarified the company's new "three-year development plan" from a strategic level. Make full use of the company's accumulated brands, related capabilities and advantages in the fields of electronic circuits and precision manufacturing, and actively cooperate with customers in the new energy vehicle industry to develop product solutions. During the reporting period, the operating income of the new energy vehicle industry increased by 120% year-on-year, and further increased research and development efforts, firmly grasped the new opportunities brought about by the innovation of technology in the industry and the growth of the industry scale, and accelerated forward-looking layout. At the same time, the company's headquarters has set up a special NE strategic department to actively seek the application and breakthrough of future products in the electrification and intelligence of new energy vehicles, and strive to expand industry-related customers and cultivate new profit growth points for the company.
It is reported that during the reporting period, the company continued to implement a prudent business strategy, strictly controlled capital expenditures, and continuously adjusted and optimized the capital structure and debt structure. The benchmarking management, cost reduction and efficiency improvement work carried out in the early stage played a positive role in improving the operating performance in 2021, especially the relevant operating indicators of the LED sector reached the excellent level of peers. In order to cope with the situation where the company has a high proportion of foreign currency assets and commodity prices impact material costs, the financial department cooperated with various business units to flexibly use hedging tools to hedge the adverse effects of fluctuations in exchange rates and commodity prices, and avoid market volatility risks. In the future, the company will adopt a more stable and prudent financial strategy, strive to improve asset turnover efficiency, and promote high-quality development of the company.
Regarding the business plan for 2022, Dongshan Precision pointed out that (1) it will continue to leverage the company's advantages in product research and development, technology, and delivery to ensure the consolidation and improvement of the basic foundation. It will deeply tap its own potential and actively improve the application of products in the field of new energy. In terms of business planning and sales coordination, it will leverage the strength of the headquarters to efficiently allocate resources and strive to provide customers with more accurate, one-stop products and services.
(2) Adhere to prudent operations, strengthen comprehensive budget management, and improve asset turnover efficiency. Ensure the security of the supply chain system, pay attention to changes in exchange rates and commodity prices, and strive to eliminate and reduce the impact of external factors on the company.
(3) Strengthen the integration of “industrialization and informationization”, adhere to lean operation and cost control, and strive to improve input-output efficiency. Implement system governance and promote high-quality development of the enterprise.
(4) Actively explore scientific and effective incentive mechanisms, deepen the development of organizations and talents, especially strengthen the training of young talents, and reserve strength for the company's future development.
(5) Maintain a healthy financial position, continue to strengthen cash flow management, and continuously optimize debt structure and financing costs.
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