[Section I Definitions](index=5&type=section&id=Section%20I%20Definitions) This section provides definitions of key terms used throughout the report [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section introduces the company's basic information and presents its key financial data and indicators for recent years [Company Basic Information](index=5&type=section&id=Company%20Basic%20Information) Beijing Aerospace Changfeng Co., Ltd. (Aerospace Changfeng), stock code 600855, is the reporting entity listed on the Shanghai Stock Exchange - The company's Chinese name is Beijing Aerospace Changfeng Co., Ltd., with stock abbreviation Aerospace Changfeng, listed on the Shanghai Stock Exchange under stock code **600855**[13](index=13&type=chunk)[18](index=18&type=chunk) [Key Financial Data and Indicators for the Past Three Years](index=7&type=section&id=Key%20Financial%20Data%20and%20Indicators%20for%20the%20Past%20Three%20Years) In 2021, operating revenue remained stable at 2.785 billion yuan, while net profit attributable to shareholders decreased by 19.96% Key Financial Data for the Past Three Years | Key Financial Data | 2021 (Yuan) | 2020 (Yuan) | Change from Prior Year (%) | 2019 (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 2,785,369,058.52 | 2,763,054,509.04 | 0.81 | 2,592,273,689.21 | | Net Profit Attributable to Shareholders | 117,395,965.12 | 146,666,053.23 | -19.96 | 42,693,776.59 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 76,734,431.79 | 100,366,650.73 | -23.55 | -36,589,183.39 | | Net Cash Flow from Operating Activities | -154,119,292.96 | 326,326,558.21 | -147.23 | 250,181,094.59 | | Net Assets Attributable to Shareholders | 1,778,467,995.35 | 1,686,540,068.07 | 5.45 | 1,691,677,222.64 | | Total Assets | 4,386,443,824.69 | 4,595,554,282.72 | -4.55 | 3,442,824,448.83 | Key Financial Indicators for the Past Three Years | Key Financial Indicators | 2021 | 2020 | Change from Prior Year (%) | 2019 | | :--- | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/Share) | 0.2677 | 0.3338 | -19.80 | 0.1076 | | Weighted Average Return on Net Assets (%) | 6.72 | 8.99 | Decreased by 2.27 percentage points | 2.98 | | Weighted Average Return on Net Assets (Excluding Non-Recurring Items) (%) | 4.39 | 6.15 | Decreased by 1.76 percentage points | -3.07 | [Quarterly Financial Data for 2021](index=8&type=section&id=Quarterly%20Financial%20Data%20for%202021) The company's quarterly revenue shows significant seasonality, with the fourth quarter being the peak, accounting for 43% of annual revenue Quarterly Financial Data for 2021 (Unit: Yuan) | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 249,038,847.33 | 727,544,572.18 | 612,322,547.74 | 1,196,463,091.27 | | Net Profit Attributable to Shareholders | -41,042,715.76 | 119,227,277.95 | 9,703,076.67 | 29,508,326.26 | | Net Cash Flow from Operating Activities | -401,064,591.31 | -54,905,008.68 | -57,046,267.09 | 358,896,574.12 | [Non-Recurring Gains and Losses](index=9&type=section&id=Non-Recurring%20Gains%20and%20Losses) In 2021, the company's non-recurring gains and losses totaled 40.66 million yuan, primarily from government subsidies Major Non-Recurring Gains and Losses Items for 2021 | Non-Recurring Gains and Losses Item | 2021 Amount (Yuan) | Explanation | | :--- | :--- | :--- | | Government subsidies included in current profit/loss | 38,290,170.53 | Government subsidies | | Reversal of impairment provision for individually tested receivables | 6,623,679.49 | Reversal of impairment provision for long-aged receivables | | Other non-operating income and expenses | 6,314,602.32 | Primarily recovery from Wei Zhong case | | Other profit/loss items meeting the definition of non-recurring | -5,270,009.88 | Loss from disposal of Zhejiang Changfeng subsidiary | | **Total** | **40,661,533.33** | | [Section III Management Discussion and Analysis](index=11&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section provides a comprehensive discussion and analysis of the company's operational performance, industry conditions, core competencies, and future development strategies [Discussion and Analysis of Operations](index=12&type=section&id=Discussion%20and%20Analysis%20of%20Operations) In 2021, the company achieved operating revenue of 2.785 billion yuan and net profit attributable to shareholders of 117 million yuan, demonstrating stable development - The company achieved **operating revenue of 2.785 billion yuan** and **net profit attributable to shareholders of 117 million yuan**, showing stable overall operational development[30](index=30&type=chunk) - Significant market expansion results include new contract values: **886 million yuan for security technology**, **642 million yuan for power industry**, **101 million yuan for medical industry**, and **448 million yuan for electronic information** (a historical high)[30](index=30&type=chunk) - Technological innovation capabilities continuously strengthened, with **over 140 invention patent applications** completed and successful applications for multiple national-level projects, securing approximately **60 million yuan in funding**[31](index=31&type=chunk) [Industry Analysis](index=13&type=section&id=Industry%20Analysis) The company operates across public safety, health safety, and defense security sectors, with each business segment experiencing different stages of industry development - The company's main businesses are divided into four industrial segments: security technology, power, medical, and electronic information, belonging to the public safety, health safety, and defense security industry sectors, respectively[33](index=33&type=chunk) - Each business operates in different industry development stages: the public safety industry is in a mature stage, the power market is in a relatively fast development stage, the medical industry is rapidly developing due to policy and pandemic influences, and the defense security industry is in a high-growth period[34](index=34&type=chunk) [Main Business Operations](index=13&type=section&id=Main%20Business%20Operations) The company's main business covers four segments: security technology, power industry, medical industry, and electronic information industry, each with distinct product and service offerings - The security technology segment primarily focuses on system solutions and integration projects, with self-developed software platforms as its core, serving public security, political and legal, and border defense sectors[35](index=35&type=chunk) - The power industry segment covers module-level, combination-level, and system-level power products for aerospace, marine, and high-speed rail applications[36](index=36&type=chunk) - The medical industry segment is a comprehensive solution provider for hospital operating rooms and ICUs, with core products including ventilators and anesthesia machines, also undertaking digital operating room and clean room projects[36](index=36&type=chunk) - The electronic information industry segment primarily engages in the research, development, production, and sales of infrared optoelectronic detection products[37](index=37&type=chunk) [Analysis of Core Competencies](index=14&type=section&id=Analysis%20of%20Core%20Competencies) The company's core competencies are rooted in its technological innovation, market position, brand advantage, and comprehensive qualifications across its diverse business segments - The company possesses core technologies and product layouts in its four major segments: security, power, medical, and electronic information, supported by significant national projects like "Science and Technology Winter Olympics" and ECMO[40](index=40&type=chunk) - Leveraging the brand advantage of its actual controller, China Aerospace Science and Industry Corporation, the company has established a nationwide marketing network and an efficient collaborative marketing mechanism[41](index=41&type=chunk) - The company holds comprehensive and complete qualifications in security technology, medical devices and engineering, and special equipment manufacturing, ranking among the top in the domestic industry[41](index=41&type=chunk) [Analysis of Key Operating Performance](index=14&type=section&id=Analysis%20of%20Key%20Operating%20Performance) In 2021, the company achieved stable operations with operating revenue of 2.785 billion yuan, while facing impacts from non-core business items like equity incentive expenses and goodwill impairment [ (I) Analysis of Main Business](index=14&type=section&id=(I)%20Analysis%20of%20Main%20Business) In 2021, the company's main business revenue was 2.777 billion yuan, with security technology being the largest contributor at 56.76%, while medical equipment revenue and gross margin declined due to normalized sales Major Changes in Income Statement and Cash Flow Statement Items | Item | Current Period (Yuan) | Prior Year (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,785,369,058.52 | 2,763,054,509.04 | 0.81 | | Financial Expenses | 7,803,229.13 | -3,978,350.09 | 296.14 | | R&D Expenses | 150,678,272.73 | 103,931,526.78 | 44.98 | | Net Cash Flow from Operating Activities | -154,119,292.96 | 326,326,558.21 | -147.23 | Main Business by Industry Segment | Industry Segment | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin (%) | Change in Operating Revenue from Prior Year (%) | Change in Gross Margin from Prior Year | | :--- | :--- | :--- | :--- | :--- | :--- | | Security Technology Business | 1,576,146,090.57 | 1,467,322,511.50 | 6.90 | 2.19 | Increased by 3.62 percentage points | | Power Business | 570,989,406.80 | 285,237,599.19 | 50.05 | 8.30 | Increased by 1.66 percentage points | | Medical Device Business | 263,762,107.30 | 118,169,758.33 | 55.20 | -29.81 | Decreased by 9.81 percentage points | | Electronic Information Business | 365,904,569.84 | 217,806,336.83 | 40.47 | 20.86 | Increased by 2.04 percentage points | - To optimize its industrial layout and focus on core businesses, the company completed the public transfer of **61.44% equity in its subsidiary Zhejiang Changfeng** on June 1, 2021, removing it from the scope of consolidated financial statements[57](index=57&type=chunk)[58](index=58&type=chunk) [ (II) Explanation of Significant Profit Changes Due to Non-Core Business](index=21&type=section&id=(II)%20Explanation%20of%20Significant%20Profit%20Changes%20Due%20to%20Non-Core%20Business) In 2021, the company's profit was significantly impacted by equity incentive expenses and goodwill impairment for subsidiaries Aerospace Jingyi and Aerospace Baike - The company implemented a restricted stock incentive plan, recognizing **15.35 million yuan in equity incentive expenses** in 2021, accounting for **13.08% of net profit attributable to shareholders** for the year[71](index=71&type=chunk) - Due to underperformance of subsidiaries Aerospace Jingyi and Aerospace Baike, the company recognized **goodwill impairment provisions totaling 41.84 million yuan**, impacting **35.64% of net profit attributable to shareholders** for the year[72](index=72&type=chunk) [ (III) Analysis of Assets and Liabilities](index=22&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets decreased by 4.55% to 4.386 billion yuan, with significant changes in prepayments, construction in progress, goodwill, and contract liabilities Major Changes in Balance Sheet Items | Item Name | Current Period End (Yuan) | Prior Period End (Yuan) | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Prepayments | 80,654,516.66 | 181,481,246.23 | -55.56 | Due to transfer upon arrival and acceptance of engineering project equipment and raw materials | | Construction in Progress | 25,297,636.88 | 62,778.30 | 40,196.79 | Due to investment in subsidiary Aerospace Chaoyang Power's module power production line | | Goodwill | 71,766,699.69 | 113,609,086.94 | -36.83 | Due to impairment provision for Aerospace Jingyi and Aerospace Baike goodwill | | Contract Liabilities | 556,937,480.26 | 1,080,122,924.37 | -48.44 | Due to settlement of engineering projects and sales of medical devices | [ (VII) Analysis of Major Holding and Participating Companies](index=25&type=section&id=(VII)%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The performance of the company's major subsidiaries varied, with Aerospace Chaoyang Power and Changfeng Kewei being key profit contributors, while Aerospace Jingyi continued to incur losses Financial Data of Major Holding Subsidiaries (Unit: 10,000 Yuan) | Company Name | Main Business | Total Assets | Net Assets | Operating Revenue | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | | Changfeng Technology | Urban emergency and comprehensive security | 189,232.58 | 11,857.68 | 159,151.54 | 563.37 | | Aerospace Jingyi | Software development; information system integration | 5,351.34 | -1,935.24 | 2,389.58 | -3,605.11 | | Changfeng Kewei | R&D and production of infrared imaging systems | 67,004.03 | 32,025.89 | 36,590.46 | 9,748.64 | | Aerospace Chaoyang Power | Power equipment manufacturing | 85,048.48 | 65,120.39 | 35,807.60 | 10,360.65 | | Aerospace Baike | R&D and production of UPS/EPS power supplies | 38,007.37 | 25,327.69 | 21,291.34 | 396.72 | - Aerospace Chaoyang Power exceeded its performance commitments for three consecutive years from 2019 to 2021, demonstrating a strong operating development trend[86](index=86&type=chunk) - Aerospace Jingyi remains in a loss-making state with negative net assets; the company has fully impaired its goodwill and long-term equity investment, resulting in zero book value[85](index=85&type=chunk) [Discussion and Analysis of Future Development](index=27&type=section&id=Discussion%20and%20Analysis%20of%20Future%20Development) The company anticipates favorable development opportunities across its four core industries and outlines its "Digital Changfeng" strategy to enhance military-oriented business and increase proprietary product and software contributions [ (I) Industry Landscape and Trends](index=27&type=section&id=(I)%20Industry%20Landscape%20and%20Trends) The company's four major business segments are poised for growth, driven by policy support, technological advancements, and increasing demand in their respective markets - The security industry will benefit from "Safe China" and "Smart City" policies, evolving towards intelligence, cloud-based solutions, and digitalization[87](index=87&type=chunk) - The power industry is projected to grow at an annual rate of **8%-10% during the "14th Five-Year Plan" period**, with green and low-carbon trends driving domestic substitution[87](index=87&type=chunk) - The medical industry's future transformation will be driven by digitalization and domestic production, supported by policy initiatives[88](index=88&type=chunk) - The infrared product market shows significant growth potential in both military and civilian sectors, with promising prospects for companies mastering core components and high-end complete machine manufacturing capabilities[88](index=88&type=chunk) [ (II) Company Development Strategy](index=27&type=section&id=(II)%20Company%20Development%20Strategy) The company's core strategy is "Digital Changfeng," aiming to deepen its presence in security technology, power, medical, and electronic information industries, with a focus on military applications and increasing proprietary product and software contributions - The core strategy is "Digital Changfeng," aiming to enhance digital R&D, production, operations, and governance capabilities[89](index=89&type=chunk) - The transformation and upgrading strategy is "One More, Two Enhancements": more business serving military applications, increasing the proportion of proprietary products, and increasing the proportion of software in integrated businesses and products[90](index=90&type=chunk) [ (III) Operating Plan](index=28&type=section&id=(III)%20Operating%20Plan) For 2022, the company plans to achieve growth in new contract value, complete state-owned enterprise reform tasks, and implement the "Digital Changfeng" strategy through various initiatives - The 2022 goals include achieving annual economic targets, increasing new contract value, completing the three-year state-owned enterprise reform tasks, and implementing the "Digital Changfeng" strategy[91](index=91&type=chunk) - Plans include promoting the implementation of key projects and building core capabilities across the four major industrial segments: security, power, medical, and electronic information[92](index=92&type=chunk) - The company aims to gradually become a capital operation platform that supports industrial development through governance mechanisms and internal control improvements[95](index=95&type=chunk) [ (IV) Potential Risks](index=30&type=section&id=(IV)%20Potential%20Risks) The company identifies five major risks: strategic management, insufficient core technical advantages, talent cultivation and incentive, market competition, and engineering project management - The company faces five major risks: strategic management, insufficient core technical advantages, talent cultivation and incentive, market competition, and engineering project management[98](index=98&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) - Countermeasures include: scientific argumentation of the "14th Five-Year Plan," strengthening industry-university-research cooperation, implementing restricted stock incentive plans, benchmarking against industry leaders, and enhancing full lifecycle project management[98](index=98&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) [Section IV Corporate Governance](index=31&type=section&id=Section%20IV%20Corporate%20Governance) This section outlines the company's corporate governance framework, including its compliance with regulations, shareholder meeting practices, and information on its directors, supervisors, and senior management [Overview of Corporate Governance](index=31&type=section&id=Overview%20of%20Corporate%20Governance) During the reporting period, the company consistently improved its corporate governance structure and internal control systems in strict compliance with relevant laws and regulations - The company strictly adheres to requirements of laws and regulations such as the "Company Law" and "Securities Law," continuously improving its corporate governance structure and standardizing company operations[103](index=103&type=chunk) [Shareholder Meeting Information](index=32&type=section&id=Shareholder%20Meeting%20Information) During the reporting period, the company convened one annual general meeting and five extraordinary general meetings, all conducted in compliance with regulations to safeguard shareholder rights - In 2021, the company held **6 shareholder meetings**, including **1 annual general meeting** and **5 extraordinary general meetings**[104](index=104&type=chunk)[105](index=105&type=chunk) [Directors, Supervisors, and Senior Management](index=34&type=section&id=Directors,%20Supervisors,%20and%20Senior%20Management) The reporting period saw significant changes in the company's board of directors, supervisors, and senior management, with total compensation for the executive team amounting to 5.43 million yuan Changes in Directors, Supervisors, and Senior Management in 2021 | Name | Position Held | Change Type | Reason for Change | | :--- | :--- | :--- | :--- | | Xiao Haichao | Chairman | Election | Work transfer | | Jin Cangsang | Chairman (Resigned) | Resignation | Work transfer | | Huang Yunhai | Director | Election | Work transfer | | Chen Guangcai | Director | Election | Work transfer | | Qiu Xuyang | Director | Election | Work transfer | | Chen Lei | Director (Resigned) | Resignation | Work transfer | | Wen Tao | Director (Resigned) | Resignation | Work transfer | | Wang Yanfeng | Director (Resigned) | Resignation | Work transfer | | Li Rongchu | Chairman of the Supervisory Board | Election | Work transfer | | Lin Ye | Chairman of the Supervisory Board (Resigned) | Resignation | Work transfer | | Zhao Zhihua | Vice President (Resigned) | Resignation | Work transfer | - The total remuneration received by all directors, supervisors, and senior management at the end of the reporting period was **5.4337 million yuan**[126](index=126&type=chunk) [Employee Information](index=47&type=section&id=Employee%20Information) As of the end of the reporting period, the company and its major subsidiaries employed a total of 1,706 staff, with technical personnel forming the largest professional group and over 60% holding bachelor's degrees or higher Employee Professional Composition | Professional Category | Number of Employees | | :--- | :--- | | Production Personnel | 432 | | Sales Personnel | 206 | | Technical Personnel | 654 | | Financial Personnel | 67 | | Administrative Personnel | 347 | | **Total** | **1,706** | [Profit Distribution Plan](index=48&type=section&id=Profit%20Distribution%20Plan) The company's board of directors proposes a 2021 profit distribution plan of 0.79 yuan cash dividend (tax inclusive) per 10 shares, totaling 35.58 million yuan, representing 30.31% of net profit attributable to shareholders - The 2021 profit distribution plan proposes a cash dividend of **0.79 yuan (tax inclusive) per 10 shares**, with the total cash dividend accounting for **30.31% of net profit attributable to shareholders**[4](index=4&type=chunk)[140](index=140&type=chunk) [Equity Incentive Plan](index=49&type=section&id=Equity%20Incentive%20Plan) During the reporting period, the company implemented its 2020 restricted stock incentive plan, completing initial and reserved grant registrations to align core personnel with company development - The company completed the initial grant registration for its restricted stock incentive plan on **March 22, 2021**[142](index=142&type=chunk) - The company completed the reserved grant registration for its restricted stock incentive plan on **December 27, 2021**[143](index=143&type=chunk) [Section V Environmental and Social Responsibility](index=54&type=section&id=Section%20V%20Environmental%20and%20Social%20Responsibility) This section notes the absence of detailed disclosures regarding the company's environmental protection, social responsibility, and rural revitalization efforts [Environmental and Social Responsibility](index=54&type=section&id=Environmental%20and%20Social%20Responsibility) The report does not disclose the company's environmental status as a key pollutant-discharging entity, nor does it detail specific work on environmental protection, social responsibility, or rural revitalization - The report does not disclose the company's environmental status as a key pollutant-discharging entity, nor does it detail specific work on environmental protection, social responsibility, or rural revitalization[154](index=154&type=chunk) [Section VI Significant Matters](index=55&type=section&id=Section%20VI%20Significant%20Matters) This section covers the fulfillment of commitments, major litigation and arbitration matters, and significant related party transactions during the reporting period [Fulfillment of Commitments](index=55&type=section&id=Fulfillment%20of%20Commitments) During the reporting period, all relevant parties strictly fulfilled their commitments, with Aerospace Chaoyang Power exceeding its performance commitments for 2019-2021 - Aerospace Chaoyang Power Co., Ltd. fulfilled its performance commitments for 2019-2021, with actual net profits exceeding the committed figures for all three years, achieving a **119.98% completion rate in 2021**[174](index=174&type=chunk) [Major Litigation and Arbitration Matters](index=73&type=section&id=Major%20Litigation%20and%20Arbitration%20Matters) The company was involved in major litigation, including a contract dispute where subsidiary Changfeng Technology was awarded 8.95 million yuan, and a recovery of 5.40 million yuan from a former general manager's embezzlement case - Subsidiary Changfeng Technology was awarded **8.9504 million yuan** in equipment and integration service fees in a contract dispute with China Mobile Tibet Company, following a second-instance judgment[181](index=181&type=chunk) - All property related to the case of former general manager Wei Zhong of subsidiary Changfeng Kewei was executed, with **5.4063 million yuan** in seized cash returned to the company in 2021[182](index=182&type=chunk) [Major Related Party Transactions](index=75&type=section&id=Major%20Related%20Party%20Transactions) In 2021, the company's related party transactions for daily operations were within the estimated range, including sales, procurement, and leasing, with significant deposits held at an affiliated financial company Actual Completion of Daily Operating Related Party Transactions in 2021 (Unit: 10,000 Yuan) | Transaction Type | Estimated Total | Actual Completion | | :--- | :--- | :--- | | Sales | Not exceeding 25,000 | 11,070.35 | | Procurement | Not exceeding 14,300 | 14,226.32 | | Leasing | Not exceeding 2,000 | 1,334.11 | - As of the end of 2021, the total deposit balance of the company and its subsidiaries at affiliated Aerospace Science and Industry Finance Co., Ltd. was **789.6518 million yuan**[191](index=191&type=chunk)[195](index=195&type=chunk) [Section VII Changes in Shares and Shareholder Information](index=82&type=section&id=Section%20VII%20Changes%20in%20Shares%20and%20Shareholder%20Information) This section details changes in the company's share capital due to equity incentives and provides an overview of its shareholder structure and actual controller [Changes in Share Capital](index=82&type=section&id=Changes%20in%20Share%20Capital) During the reporting period, the company's total share capital increased from 439 million shares to 451 million shares due to the implementation of the 2020 restricted stock incentive plan - Due to the implementation of the restricted stock incentive plan, the company's total share capital increased from **438,536,633 shares to 450,753,101 shares**, an increase of **12,216,468 shares**[204](index=204&type=chunk)[205](index=205&type=chunk) [Shareholder and Actual Controller Information](index=85&type=section&id=Shareholder%20and%20Actual%20Controller%20Information) As of the end of the reporting period, the company had 47,105 shareholders, with China Aerospace Science and Industry Defense Technology Research Institute as the controlling shareholder and China Aerospace Science and Industry Corporation as the ultimate actual controller Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End | Proportion (%) | Nature | | :--- | :--- | :--- | :--- | | China Aerospace Science and Industry Defense Technology Research Institute | 141,150,722 | 31.31 | State-owned Legal Person | | Chaoyang City Power Co., Ltd. | 42,949,467 | 9.53 | Domestic Non-State-owned Legal Person | | Beijing Institute of Computer Application and Simulation Technology | 10,245,120 | 2.27 | State-owned Legal Person | | The 206th Institute of China Aerospace Science and Industry Corporation Second Academy | 9,284,640 | 2.06 | State-owned Legal Person | - The company's controlling shareholder is **China Aerospace Science and Industry Defense Technology Research Institute**, and the ultimate controlling party is **China Aerospace Science and Industry Corporation Limited**[632](index=632&type=chunk) [Section VIII Preferred Shares Information](index=93&type=section&id=Section%20VIII%20Preferred%20Shares%20Information) This section confirms that the company has no preferred shares during the reporting period [Preferred Shares Information](index=93&type=section&id=Preferred%20Shares%20Information) During the reporting period, the company had no preferred shares - The company has no preferred shares information to disclose[228](index=228&type=chunk) [Section IX Bond Information](index=94&type=section&id=Section%20IX%20Bond%20Information) This section confirms that the company has no bond-related information to disclose during the reporting period [Bond Information](index=94&type=section&id=Bond%20Information) During the reporting period, the company had no information regarding corporate bonds, company bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds - The company has no bond-related information to disclose[230](index=230&type=chunk) [Section X Financial Report](index=94&type=section&id=Section%20X%20Financial%20Report) This section presents the company's audited financial statements for 2021, including the audit report and detailed financial statements [Audit Report](index=94&type=section&id=Audit%20Report) Grant Thornton China (Special General Partnership) issued a standard unqualified audit opinion on the company's 2021 financial statements, highlighting revenue recognition, goodwill impairment, and impairment provisions for receivables as key audit matters - The auditing firm is **Grant Thornton China (Special General Partnership)**, which issued a **standard unqualified audit opinion**[231](index=231&type=chunk) - Key audit matters include: - **Revenue Recognition**: Due to its nature as a key performance indicator and inherent risk of management override[233](index=233&type=chunk) - **Goodwill Impairment Testing**: Due to significant management judgment involved[235](index=235&type=chunk) - **Provision for Bad Debts and Impairment of Receivables**: Due to significant judgment involved in recognizing expected credit losses[236](index=236&type=chunk) [Financial Statements](index=98&type=section&id=Financial%20Statements) This chapter includes the company's audited consolidated and parent company financial statements for 2021, comprising the balance sheet, income statement, cash flow statement, statement of changes in equity, and detailed notes to the financial statements [Consolidated Balance Sheet](index=98&type=section&id=Consolidated%20Balance%20Sheet) This section presents the company's consolidated balance sheet as of the end of the reporting period [Company Balance Sheet](index=101&type=section&id=Company%20Balance%20Sheet) This section presents the company's parent company balance sheet as of the end of the reporting period [Consolidated Income Statement](index=104&type=section&id=Consolidated%20Income%20Statement) This section presents the company's consolidated income statement for the reporting period [Company Income Statement](index=106&type=section&id=Company%20Income%20Statement) This section presents the company's parent company income statement for the reporting period [Consolidated Cash Flow Statement](index=108&type=section&id=Consolidated%20Cash%20Flow%20Statement) This section presents the company's consolidated cash flow statement for the reporting period [Company Cash Flow Statement](index=111&type=section&id=Company%20Cash%20Flow%20Statement) This section presents the company's parent company cash flow statement for the reporting period [Consolidated Statement of Changes in Equity](index=114&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) This section presents the company's consolidated statement of changes in equity for the reporting period [Company Statement of Changes in Equity](index=120&type=section&id=Company%20Statement%20of%20Changes%20in%20Equity) This section presents the company's parent company statement of changes in equity for the reporting period

2021 年第三季度报告 证券代码：600855 证券简称：航天长峰 北京航天长峰股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是√否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 比上年同 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 612,322,547.74 | -0.81 | 1,588,905,967.25 | 9.7 ...

2021 年半年度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2021 年半年度报告 1 / 172 2021 年半年度报告 重要提示 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第三节管理层讨论与分析中可能 面对的风险对应内容。 十一、 其他 □适用 √不适用 2 / 172 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人金苍松、主管会计工作负责人 ...

2021 年第一季度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2021 年第一季度报告 1 / 25 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 7 | | 四、 | 附录 9 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 报告期内，公司实现营业收入 2.49 亿元，较上年同期增长 69.76%，归属于上市 公司股东净利润-0.41 亿元，较上年同期下降 17.33%。其中安保科技业务实现营业收 3 / 25 单位：元币种：人民币 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 4,470,591,153.47 4,595,554,282.72 -2.72 归属于上市公司股 东的净资产 1,736,042,255.66 1,686,540,068.07 2.94 年初至报告期末 上年初至上年报告期 末 比上年同期增减(%) 经营活动产生的现 金流量净额 -401,064,591.31 -264,117,252.27 -51.85 年初至报告期末 ...

2020 年第三季度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2020 年第三季度报告 1 / 30 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 8 | | 四、 | 附录 | 11 | 2020 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | --- | --- | | | 本报告期末 | | 上年度末 | 本报告期末比上年度 | | | | | | | 末增减(%) | | | 总资产 | 4,101,114,693.80 | | 3,442,824,448.83 | | 19.12 | | 归属于上市公司股东的 | 1,718,734,427.62 | | 1,691,677,222.64 | | 1.60 | | 净资产 | | | | | | | | 年初至报告期末 | | 上年初至上年报告期末 | 比上年同期 ...

2020 年半年度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2020 年半年度报告 1 / 163 2020 年半年度报告 重要提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质 承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 重大风险提示 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第四节经营情况讨论 与分析中关于公司未来发展的讨论与分析中可能面对的风险对应内容。 十、 其他 □适用 √不适用 2 / 163 一、本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法 律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人金苍松、主管会计工作负责人刘磊及会计机构负责人（会计主管人员） 孙会军声明：保证半年 ...

Financial Performance - The net profit attributable to the parent company for 2019 was CNY 42,693,776.59, with a cumulative profit available for distribution to shareholders of CNY 116,681,790.12[7]. - The proposed cash dividend for 2019 is CNY 0.30 per 10 shares, totaling CNY 13,187,732.61, which accounts for 30.89% of the net profit attributable to the parent company[7]. - The company's operating revenue for 2019 was approximately ¥2.59 billion, representing a 10.00% increase compared to 2018[24]. - Net profit attributable to shareholders decreased by 58.02% to approximately ¥42.69 million, while the net profit after deducting non-recurring gains and losses dropped by 158.70%[24]. - The basic earnings per share decreased by 58.74% to ¥0.1076, with diluted earnings per share reflecting the same figure[25]. - The weighted average return on equity fell to 2.98%, a decrease of 4.81 percentage points compared to 2018[25]. - The company reported a net profit for the reporting period of 103 million RMB, with the net profit attributable to shareholders amounting to 42.69 million RMB[57]. - The company reported a net profit of -2,244.69 million CNY for 2019, compared to a profit of 248.58 million CNY in 2018, indicating a significant decline[89]. - The company achieved a net profit of 3,187.55 million yuan for the year ending December 31, 2019[111]. - The company reported a net profit of 1,702.15 million yuan for the year ending December 31, 2019[112]. Cash Flow and Financial Management - The net cash flow from operating activities increased by 480.27% to approximately ¥250.18 million, attributed to improved collection of accounts receivable[28]. - In the first half of the year, the company's operating cash flow was negative at -28,494.36 million CNY, with a net profit attributable to the parent company of -3,506.24 million CNY[33]. - The operating cash flow and net profit began to increase in the third quarter, particularly in the fourth quarter, due to increased project progress and cash collection[33]. - The company achieved an annual operating cash flow of 250 million CNY in 2019, indicating a strong cash flow performance for the year[33]. - The company plans to extend payment terms through negotiations with suppliers, which may further enhance cash flow management[33]. - The cash flow from investment income decreased by 73.83% to 141.78 million CNY, mainly due to reduced returns from bank financial products of a subsidiary[75]. - The total amount of cash absorbed from investments was 30 million CNY, a decline of 74.83% compared to the previous year, due to last year's fundraising from mergers and acquisitions[75]. - The company’s cash flow is influenced by the nature of its clients, primarily government departments and large enterprises, which have lengthy internal payment approval processes[34]. Risk Management and Compliance - The company has disclosed potential risks related to future development in the report, urging investors to be aware of investment risks[9]. - The report emphasizes the importance of accurate financial reporting and the responsibilities of the board and management[4]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[9]. - The company has not violated decision-making procedures in providing guarantees to external parties[9]. - The company is facing risks related to technological innovation and the need to adapt to changing business models in the security technology sector[102]. - The company is addressing management risks associated with business expansion by improving its internal control management system[101]. Business Expansion and Market Presence - The company plans to continue expanding its market presence while managing costs and enhancing R&D efforts to improve competitiveness[28]. - The company has established over 150 branches and offices across 31 provincial-level regions in China, enhancing its regional marketing network[48]. - The company has expanded its business segments from three to four, adding a power supply segment after acquiring 100% of Aerospace Chaoyang Power Supply[43]. - The company is actively involved in national-level technology support projects, further solidifying its position in the industry[50]. - The company plans to expand its market share in the medical device sector and enhance its product promotion and sales efforts[97]. - The company is exploring potential mergers and acquisitions to bolster its market presence and drive revenue growth[115]. Research and Development - Research and development expenses increased by 56.49% year-on-year, totaling 74.49 million RMB, driven by increased investment in R&D[59]. - The company applied for 189 invention patents during the year, with 8 patents granted and 2 utility model patents authorized[56]. - The company is focusing on increasing R&D investments to improve core business capabilities, despite facing operational losses in some subsidiaries[90]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[1]. - The company has allocated 200 million for research and development in 2020, focusing on innovative solutions to improve operational efficiency[200]. Strategic Acquisitions - The company completed the acquisition of 100% equity in Aerospace Chaoyang Power through a share issuance, which was finalized on December 24, 2019[24]. - The company completed the acquisition of 100% equity in Aerospace Chaoyang Power, making it a wholly-owned subsidiary[167]. - The company completed a strategic acquisition, enhancing its capabilities in the tech sector, valued at $200 million[196]. - A strategic acquisition of a smaller tech firm is in progress, which is anticipated to enhance the company's technological capabilities and product offerings[200]. Shareholder and Stock Information - The company has maintained a consistent cash dividend policy since the revision of its articles of association in October 2014[104]. - The company has reported a decrease of 1,034,900 shares held by domestic natural persons, resulting in a total of 9,518,690 shares[163]. - The company has issued new shares amounting to 10,817,200, which is 77.5% of the total shares[163]. - The company completed a share repurchase and cancellation of 127,949 shares due to unmet performance commitments from a subsidiary[173]. - The company plans to unlock 44,738,297 shares held by China Aerospace Science and Technology Group in December 2022[179]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[197]. - The company has set a future outlook with a revenue target of 1.8 billion for 2020, indicating a projected growth of 20%[200]. - Overall, the company remains optimistic about future growth, with a commitment to sustainable practices and innovation[196].

2020 年第一季度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2020 年第一季度报告 1 / 25 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 9 | 2020 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | | | | | 减(%) | | 总资产 | 3,634,367,099.48 | 3,442,824,448.83 | 5.56 | | 归属于上市公司 | 1,618,048,509.07 | 1,691,677,222.64 | -4.35 | | 股东的净资产 | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | 经营活动产生的 现金流量净额 | -264,117,252.27 | -256,946,814.90 | 2.79 | | | 年初至报告期末 | 上年初至上年 ...

2019 年年度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2019 年年度报告 1 / 213 2019 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法 律责任。 二、 公司全体董事出席董事会会议。 三、 致同会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人金苍松、主管会计工作负责人刘磊及会计机构负责人（会计主管人员） 孙会军声明：保证年度报告中财务报告的真实、准确、完整。 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经致同会计师事务所（特殊普通合伙）审计，公司 2019 年度合并实现的归属于 母公司所有者的净利润为 42,693,776.59 元，母公司年末累计可供股东分配的利润为 116,681,790.12 元。 根据《公司章程》约定并结合公司实际经营情况，公司董事会建议 2019 年度利润 分配预案为：以 2019 年末公司总股本 43 ...

2019 年第三季度报告 公司代码：600855 公司简称：航天长峰 北京航天长峰股份有限公司 2019 年第三季度报告 1 / 30 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2019 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | 司股东的扣除 | | | | | | | --- | --- | --- | --- | --- | --- | | 非经常性损益 | | | | | | | 的净利润 | | | | | | | 加权平均净资 | -0.0090 | 0.9919 | 减少 | 1.00 | 个百分点 | | 产收益率（%） | | | | | | | 基本每股收益 | -0.0299 | 0.0293 | | | -202.05 | | （元/股） | | | | | | | 稀释每股收益 | -0.0299 | 0.0293 | | | -202.05 | | （元/股） | | | | ...