Stock Code: 603899 Short Name: M&G Corporation
SHANGHAI M&G STATIONERY INC.
Annual Report 2021
Starting Afresh
2021 was a year full of challenges and opportunities for M&G and also was a year when
M&G started afresh once again. Affected by COVID-19 resurgence, "Double Reduction",
and weakening domestic expectations, the year 2021 was tough for all of us. Our colleagues
and upstream and downstream partners demonstrated strong resilience and tackled the
difficulties head on. The Company’s "One main body and two wings" businesses maintained
steady development and solid growth, core competitiveness of the Company continued to
improve. In the past year, every person was remarkable and it was not easy for everyone. We
pushed the boundaries of our self-perception and limits of performance. As we all kow, life
goes on and business needs to develop. We salute every remarkable M&G colleague!
In 2021, the Company recorded revenue of RMB17.6 billion, an increase of 34%, and a net
profit attributable to the parent company of RMB1.52 billion, an increase of 21%. The year
2021 is the beginning of China's 14th Five-Year Plan, and also the first year of M&G's new
five-year strategy. The Company applied new development philosophyto guide high-quality
development and steadily executed Company's strategy. One important reason underlying
the Company’s solid and high-quality development is that we have a strong sense of mission
and responsibility, and we have been insist on doing the tough but right things for more than
3 decades.
In 2022, the international situation is complicated and the COVID-19 pendamic still has a
long way to go. Some investors are concerned that demographic trends and "Double
Reduction" negatively impact the realization of the Company's new five-year strategy. We
believe that if you desire something strong enough, you can always work out a way, there
are always new demands in market, which need to be satisfied with innovative products and
new capabilities. The key question is not whether you can or can not, but whether you want
it or not. If you truly aspire to something, you can make the seeminglyimpossible come true.
We see more opportunities in product categories, channel improvement, new business
development, and international markets. We believe that difficulties and challenges are the
touchstones of a good company, those with stronger management capability and better
business models can excel. We also believe that in the face of difficulties, a strong internal
drive can better unleash our potentials. In addition to having a good "energy, will and spirit",
we also keep pace with the times, strive for innovation and embrace change, keep an eye on
macro trends, carbon neutrality, learn from outstanding industry leaders, take initiative to
embrace new technologies such as artificial intelligence and metaverse, and continue to
optimize our business eco-chain. This year, we also formulated our sustainable development
strategy, with the mission of "Writing a Sustainable Business Future", with sustainable
products, response to climate change, sustainable supply chain, and empowering employees
and communities, as keypillars, in abid to achieve high-qualityandsustainabledevelopment.
M&G has made its jouney for more than three decades. To realize our vision to become a
"world-class M&G", we need passion and dreams, sharing and focus, mission and
responsibility, to provide better products and services for China and the world. We would
like to express our heartfelt thanks to our employees, to our customers and partners, and to
our shareholders, for your support and trust. M&G is willing to work together with all of you,
remain true to our original aspiration, and forge ahead to promote a sustainable, sound and
high-quality development, and create better value for all shareholders. Strive towards a
"world-class M&G". We look forward to working with you towards a bright future!
Board of Directors of Shanghai M&G Stationery Inc.
29 March 2022
Important Notice
I. The Board of Directors, Supervisory Committee, directors, supervisors and seniormanagement
of the Company warrant that the contents of this report are true, accurate and complete,
without any misrepresentation, misleading statements or material omissions, and severally and
jointly bear the legal responsibilities thereof.
II. All directors of the Company attended the Board meeting.
III. BDO China Shu Lun Pan CPAs (LLP) has issued the audit report with unqualified opinions to
the Company.
IV. Chen Huwen, the chairman of the Company, Quan Qiang, CFO of the Company and Zhai Yu,
the head of the accounting department (person in charge of accounting), warrant the
truthfulness, accuracy and completeness of the financial report in this annual report.
V. Profit
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