Company Recognition and Achievements - The company was approved for the "Weihai Ventilator Fluid Technology Key Laboratory" by the Weihai Science and Technology Bureau on April 2, 2021[5]. - The company was recognized as a "Gazelle Enterprise" in Shandong Province in October 2021 and as a "Single Champion Enterprise" in the manufacturing sector in November 2021[5]. - The company received a civil nuclear safety equipment design and manufacturing license from the National Nuclear Safety Administration on April 7, 2021[6]. - The self-developed JZL/ZF12.0-13 evaporative cooling axial flow fan, CZ-80A marine axial flow fan, and high-efficiency ventilation fan for data centers were included in several national energy-saving product catalogs in 2021[7]. - The company was listed in the 2021 Green Manufacturing List by the Ministry of Industry and Information Technology and recognized as a green supply chain management enterprise[8]. Financial Performance - The company's operating revenue for 2021 was CNY 391,565,816.79, representing a 37.43% increase compared to CNY 284,919,652.08 in 2020[30]. - The net profit attributable to shareholders for 2021 was CNY 45,771,938.12, an increase of 80.24% from CNY 25,394,750.06 in 2020[30]. - The total assets at the end of 2021 amounted to CNY 489,826,840.68, reflecting a growth of 19.83% from CNY 408,754,869.62 at the beginning of the year[33]. - The company's debt-to-asset ratio was 41.00% at the end of 2021, compared to 40.46% at the beginning of the year[33]. - The cash flow from operating activities for 2021 was CNY 9,336,019.16, a decrease of 61.76% from CNY 24,417,096.37 in 2020[34]. - The company achieved a gross profit margin of 29.66% in 2021, down from 31.57% in 2020[30]. - The weighted average return on equity was 17.13% for 2021, up from 10.40% in 2020[30]. - The company reported a net profit margin of 11.71% for 2021, compared to 8.91% in 2020[30]. Risks and Challenges - The company faces risks related to macroeconomic slowdown affecting customer demand, particularly in the rail transit and new energy equipment sectors[15]. - The company is exposed to raw material price fluctuation risks, which could impact production costs and profitability[15]. - The company has a high customer concentration risk, which could adversely affect operations if major customers reduce purchases[15]. - The company has been recognized for its commitment to quality, but faces risks associated with product reliability and potential economic losses from failures[16]. - The company has not experienced significant changes in major risks during the reporting period[16]. Research and Development - The company’s R&D expenses for the last fiscal year were ¥5,281,883.11, compared to ¥5,619,658.31 in the previous year[44]. - The company aims to leverage market opportunities and enhance its core competitiveness through increased technological innovation[53]. - The company has a total of 92 R&D personnel, accounting for 22.86% of the total workforce[111]. - The number of patents held by the company increased to 79 from 57 in the previous year[112]. - The company plans to enhance its R&D capabilities by constructing a new R&D center and acquiring advanced equipment to improve product performance[137]. Market Trends and Opportunities - The demand for new high-speed trains is estimated to be around 211 units annually over the next 15 years, leading to a total increase of approximately 3,165 units by 2035[57]. - The wind power sector in China saw an installed capacity increase of 71.67 GW in 2020, with onshore wind accounting for 68.61 GW and offshore wind for 3.06 GW[61]. - During the "14th Five-Year Plan" period, China plans to add 289 GW of onshore wind and 24 GW of offshore wind capacity, translating to a demand for approximately 72,300 ventilation units[62][63]. - The global gas turbine market was valued at $22.54 billion in 2020, with an expected growth to $25.1 billion by 2023, driven by advancements in technology and environmental policies[66]. - The projected investment for each nuclear power project is approximately 45 billion RMB, with a market space of 1.98 to 2.97 billion RMB for ventilation products per nuclear unit[69]. Corporate Governance and Shareholder Information - The company has a total of 213 common shareholders as of the end of the reporting period[161]. - The largest shareholder, Weihai Klate Group Co., Ltd., holds 32,936,000 shares, representing 51.95% of the total shares[163]. - The second largest shareholder, Nuclear Industry Fund Management Co., Ltd., holds 7,690,000 shares, accounting for 12.13%[164]. - The third largest shareholder, Shenzhen Zhongguo Guohui Investment Co., Ltd., has 5,150,000 shares, which is 8.12% of the total[164]. - The total shares held by the top ten shareholders amount to 58,741,663, representing 92.65% of the total shares[166]. Employee and Management Information - The company reported a total of 411 employees at the end of the period, an increase of 13 employees from the beginning of the period[199]. - The total number of management personnel remained stable at 5, while production personnel increased from 207 to 219[199]. - The company has established training partnerships with universities to enhance management capabilities[200]. - The company’s board of directors consists of 9 members, while the supervisory board has 3 members[192]. - The company appointed two new independent directors, Qian Suxin and Wang Shouhai, during the reporting period[195].