SAIC MOTOR(600104)2022-04-29 16:00Financial Performance - The total operating revenue for 2021 was CNY 779.85 billion, an increase of 5.08% compared to CNY 742.13 billion in 2020[16]. - The net profit attributable to shareholders of the listed company reached CNY 24.53 billion, reflecting a growth of 20.08% from CNY 20.43 billion in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 18.58 billion, which is a 4.68% increase from CNY 17.74 billion in 2020[16]. - The company reported an operating income of CNY 759.91 billion, up 5.10% from CNY 723.04 billion in the previous year[16]. - Total revenue reached 779.85 billion yuan, representing a year-on-year growth of 5.1%, while net profit attributable to shareholders was 24.53 billion yuan, up 20.1%[24]. - The company achieved total vehicle sales of 5.464 million units, with retail sales reaching 5.811 million units, a year-on-year increase of 5.5%[24]. - The sales of new energy vehicles increased by 128.9% to 733,000 units, ranking first in China and among the top three globally[24]. - The company reported a net profit of ¥33.94 billion, representing a 16.5% increase compared to ¥29.19 billion in 2020[172]. - The comprehensive income for the year amounted to RMB 35.36 billion, reflecting a significant increase compared to the previous year[179]. Cash Flow and Investments - The net cash flow from operating activities was CNY 21.62 billion, a decrease of 42.39% compared to CNY 37.52 billion in 2020[16]. - The company reported a significant fluctuation in net cash flow from operating activities across quarters, with Q2 showing a negative cash flow of ¥423.37 million[19]. - The net cash flow from operating activities for 2021 was ¥21,615,739,153.91, a decrease of 42.5% compared to ¥37,517,935,804.19 in 2020[176]. - The net cash flow from investing activities was -¥1,497,529,157.01, an improvement from -¥7,110,266,592.95 in 2020[177]. - The company received ¥6,135,340,377.11 from investments, which included cash from minority shareholders, compared to ¥985,602,190.22 in 2020[177]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 6.82 per 10 shares, totaling CNY 7.85 billion, based on a total share capital of 11,505,840,704 shares[4]. - Cash dividends amounted to 9.22 billion yuan, accounting for 45.1% of the net profit attributable to shareholders for the year[25]. - The company implemented a cash dividend policy, distributing 6.82 CNY per 10 shares, totaling approximately 7.85 billion CNY for the 2020 profit distribution[94]. Research and Development - Research and development expenses rose to RMB 19.67 billion, an increase of 46.83% compared to the previous year[32]. - The company is focusing on the development of new energy vehicles and has made significant advancements in core technologies such as software, artificial intelligence, and big data[29]. - The number of R&D personnel was 31,748, making up 14.4% of the total workforce[39]. Market Expansion and Sales - The company expanded its overseas market presence, with overseas sales reaching 697,000 units, a year-on-year increase of 78.9%[24]. - The proportion of self-owned brand vehicle sales reached 52.3%, with a year-on-year increase of 10%[24]. - The company aims for total vehicle sales to exceed 6 million units in 2022, representing a year-on-year growth of over 10%[64]. Corporate Governance and Compliance - The company received an A rating for its information disclosure practices from the Shanghai Stock Exchange, reflecting its commitment to transparency[69]. - The board of directors consists of 7 members, including 3 independent directors, and held 11 meetings during the reporting period[68]. - The company has not reported any significant differences in governance practices compared to regulatory requirements[69]. Environmental Responsibility - The company has established an environmental protection leadership group to enhance its environmental protection system and strictly implement various environmental policies[100]. - The company has implemented measures to enhance energy management and promote green manufacturing practices[110]. - In 2021, SAIC Group achieved energy savings of 24,000 tons of standard coal, reducing carbon emissions by approximately 1%[112]. Risk Management - The company is focused on risk management, particularly in supply chain and quality control, to ensure steady improvement in operational quality[64]. - The company faced risks including uncertainty in automotive production and sales due to recurring pandemics, supply chain disruptions from chip shortages, and geopolitical instability affecting raw material prices[65]. Employee Development and Training - In 2021, the company trained 1.91 million personnel, accumulating around 830,000 person-days of training[93]. - The company has built 9 national-level and 11 Shanghai-level skill master studios, supporting over 4000 skilled personnel in achieving vocational skill level upgrades in 2021[93]. Financial Position - The company's total assets reached RMB 328.77 billion, indicating a solid asset base for operations[179]. - The debt-to-asset ratio decreased to 64.14% in 2021 from 66.28% in 2020, showing a reduction of 3.23%[153]. - The company's retained earnings grew to ¥148.76 billion in 2021, up from ¥134.96 billion in 2020, indicating an increase of about 10.2%[169].