HPEC(SH:600312)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was CNY 9,273,310,045.93, a decrease of 5.19% compared to CNY 9,781,065,124.63 in 2020[18]. - The net profit attributable to shareholders of the listed company was CNY 70,774,235.93, down 43.87% from CNY 126,099,057.73 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 35,096,638.13, a decrease of 23.79% compared to CNY 46,049,615.89 in 2020[18]. - The net cash flow from operating activities was CNY 1,197,783,890.57, down 10.29% from CNY 1,335,099,963.93 in the previous year[18]. - The total assets at the end of 2021 were CNY 19,175,290,656.28, a decrease of 7.59% from CNY 20,750,745,705.73 at the end of 2020[18]. - The basic earnings per share for 2021 were CNY 0.0522, a decrease of 43.81% from CNY 0.0929 in 2020[19]. - The diluted earnings per share were also CNY 0.0522, reflecting the same percentage decrease as basic earnings[19]. - The weighted average return on net assets was 0.78%, down 0.61 percentage points from 1.39% in 2020[19]. - The total profit for 2021 was 133 million RMB, down 34.6% year-on-year[25]. - The company reported a total cost of 7.906 billion RMB, a decrease of 6.72% compared to the previous year[44]. Research and Development - Research and development expenses increased by 32.55% to 310 million RMB, indicating a focus on innovation[38]. - The company successfully developed the world's first 1100 kV environmentally friendly GIL and other high-end products, showcasing its technological innovation capabilities[34]. - The company has implemented 32 measures to enhance quality and efficiency, including 18 design redundancy reduction measures and the localization of over 500 imported components in the past three years[28]. - The company achieved a 63-item implementation of material substitution and process improvement measures to address rising raw material costs[28]. - Total R&D investment reached 274,000,900.16 RMB, which is 2.95% of operating revenue, with 43.38% of R&D costs capitalized[51]. Market Performance - The company maintained a leading market share in collective bidding amounts for State Grid and Southern Grid, indicating strong market performance[26]. - The company’s marketing strategy focuses on direct sales to major clients, including State Grid Corporation and Southern Power Grid, with a centralized procurement approach[32]. - The company has established a complete overseas marketing network, successfully promoting products to over 60 countries and regions[36]. - The company anticipates a 5%-6% growth in total electricity consumption for 2022[30]. - The company is focusing on expanding its market presence in new energy and comprehensive energy sectors, aiming for diversified market development[72]. Corporate Social Responsibility - The company successfully provided high-quality power equipment and emergency repair services during the Zhengzhou flood, demonstrating its corporate social responsibility[26]. - The company has been recognized as a "national green factory," reflecting its commitment to sustainable practices in production[33]. - The company has received multiple honors, including "National Green Factory" and "National Environmental Protection Advanced Enterprise"[135]. - The company has continued to engage in energy-saving promotional activities, such as "National Energy Conservation Publicity Week" and "National Low Carbon Day," to foster a low-carbon development atmosphere[137]. Governance and Compliance - The company is committed to improving governance structures and ensuring compliance with legal regulations to protect shareholder interests[78]. - The board of directors operates in accordance with the Company Law and the company's articles of association, ensuring clear responsibilities and compliance with decision-making procedures[79]. - The company has established independent financial and operational structures, ensuring no guarantees were provided to controlling shareholders or their affiliates during the reporting period[80]. - The company has implemented strict information disclosure management systems, enhancing the quality and transparency of annual report disclosures[81]. - The company has a clear governance structure with defined roles for board members and management, ensuring accountability and oversight[94]. Environmental Management - The company has established a comprehensive environmental management system, ensuring that all pollutants are treated and discharged in accordance with regulatory standards[120]. - The company has invested approximately 40 million CNY in a zero discharge heavy metal wastewater treatment system and advanced pollution control facilities, with annual operating costs for wastewater treatment facilities reaching 3.265 million CNY[124]. - The company has enhanced its hazardous waste management practices in line with the new solid waste law, including the establishment of a solid waste pollution prevention IoT system[121]. - The company has constructed or upgraded advanced pollution prevention facilities, including a zero discharge treatment system for heavy metals in electroplating wastewater and a plasma purification device for painting exhaust[135]. - The company has implemented a carbon emission reduction strategy, focusing on low-carbon green development and supporting the clean transformation of the power grid[136]. Future Outlook - The company plans to achieve an operating revenue of 9.5 to 10 billion yuan in 2022, with the realization dependent on macro policies and market conditions[70]. - The company plans to continue focusing on market expansion and new product development in the upcoming year[195]. - The company is advancing the development of a 550 kV high-speed circuit breaker and promoting the research of environmentally friendly products[72]. - The company plans to invest in the development of smart products, including a 252 kV smart GIS, and aims to complete key tests for 72.5 kV GIS for offshore wind power[72]. - The company is positioned to benefit from the ongoing investment in the power grid, with a planned investment of 350 billion USD (approximately 2.23 trillion yuan) by the State Grid during the 14th Five-Year Plan[68].