ZTT(600522)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was CNY 46.16 billion, an increase of 9.70% compared to CNY 42.08 billion in 2020[15]. - The net profit attributable to shareholders in 2021 was CNY 172.09 million, a significant decrease of 92.43% from CNY 2.27 billion in 2020[15]. - The net profit after deducting non-recurring gains and losses was CNY 45.68 million, down 97.82% from CNY 2.10 billion in 2020[15]. - The company's cash flow from operating activities was negative CNY 547.07 million in 2021, compared to positive CNY 2.59 billion in 2020[15]. - The total assets at the end of 2021 were CNY 45.63 billion, a decrease of 3.21% from CNY 47.15 billion at the end of 2020[15]. - The net assets attributable to shareholders increased by 14.78% to CNY 26.93 billion at the end of 2021, up from CNY 23.47 billion at the end of 2020[15]. - Basic earnings per share for 2021 were CNY 0.057, a decline of 92.44% from CNY 0.754 in 2020[16]. - The weighted average return on equity decreased to 0.73% in 2021, down 9.41 percentage points from 10.14% in 2020[16]. - The company recognized a total impairment provision of CNY 3.62 billion for high-end communication business risk assets in 2021[16]. - The company reported a significant increase in credit impairment losses, totaling -¥2.12 billion, primarily due to full impairment provisions for high-end communication business receivables[130]. Dividend and Audit - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders based on the total share capital registered on the dividend distribution date[2]. - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm[2]. - The company’s financial report has been confirmed for its authenticity, accuracy, and completeness by the responsible persons[2]. Operational Outlook and Risks - The management has outlined potential risks in the future development section of the report, which may impact actual results[4]. - The company’s future operational outlook is based on current business judgments and macroeconomic policies[4]. Market Position and Competitive Advantage - The company achieved a market share of 15.38 billion in the domestic special wire market, ranking first, showcasing its top-tier performance in high-performance overhead transmission wires[35]. - The company maintained a 100% market share in the ultra-high voltage projects for major transmission lines, indicating strong competitive positioning[36]. - The company successfully bid for multiple ultra-high voltage projects, including Baihetan-Jiangsu and Jingmen-Wuhan, maintaining the first position in market share for ordinary wires, special wires, and OPGW[35]. - The company has secured approximately 7 billion RMB in orders for its marine series business as of December 2021[26]. - The company has signed strategic cooperation agreements with well-known enterprises to promote renewable energy projects, enhancing its competitive advantage in the market[34]. Technological Innovation and Development - The company is focused on technological innovation and market integration in the fields of offshore wind power, energy storage, and photovoltaic development[25]. - The company has established three common technology platforms to support the development of high-end transmission power equipment, contributing to the high-quality development of the power grid industry chain[39]. - The company is actively involved in various green energy storage projects, including a 10MW/20MWh wind storage project in Hunan[96]. - The company is developing new technologies and high-end products for offshore wind power, including dynamic cables for deep-sea floating wind turbines[93]. - The company has developed high-performance PI films, breaking the reliance on imports, with ZI-C products in the thickness range of 25um to 62.5um being supplied to the market, and ZI-C ultra-thick products of 100um and above successfully introduced[108]. International Expansion and Market Growth - The company has enhanced its global marketing network and overseas production capacity, resulting in significant revenue growth from overseas industrial bases during the reporting period[46]. - The company established new subsidiaries in Georgia and Bangladesh, as well as a project service company in Singapore, to facilitate the expansion of its overseas business[48]. - The company is expanding its investment in new energy sectors, including solar and energy storage technologies, in response to national policies[161]. Renewable Energy and Environmental Commitment - The offshore wind power sector in China saw a new installed capacity of 16.9 GW in 2021, leading the world in both new and cumulative installed capacity[51]. - The cumulative installed capacity of electrochemical energy storage in China reached 5.51 GW by the end of 2021, representing a year-on-year growth of 68.5%[58]. - The company aims to reduce energy consumption intensity by 40% and carbon dioxide emissions by 50% by 2030 compared to 2020 baseline data, as part of its green low-carbon manufacturing initiative[125]. - The company has been recognized with multiple certifications for energy management and greenhouse gas management across its subsidiaries, promoting sustainable manufacturing practices[125]. Research and Development - The company's R&D expenses rose to ¥1.47 billion, reflecting a significant increase of 20.68% from ¥1.22 billion year-on-year[130]. - The number of R&D personnel was 736, accounting for 5.73% of the total workforce[140]. - In 2021, the company submitted 374 patent applications in China and 20 PCT applications, receiving 98 invention patents, with notable awards including the Silver Award at the 22nd China Patent Awards[119]. - The company completed over 170 new product and technology developments, with 26 products recognized as internationally leading by relevant authorities[117]. Strategic Partnerships and Collaborations - The company has established strategic partnerships with several state-owned power generation groups and energy enterprises to enhance its photovoltaic resource development capabilities[97]. - The company has established innovation cooperation platforms with 53 research institutes and universities, maintaining over 40 annual research projects to enhance key technology research and talent training[121]. Investment and Financial Management - The company has invested a total of RMB 17,600 million in Zhongtian Jintou Co., Ltd., holding a 100% stake[155]. - The company has a total of RMB 20,000 million invested in Zhongtian Energy Storage Technology Co., Ltd., also holding a 100% stake[155]. - The company's short-term borrowings rose by 189.84% to approximately CNY 3.45 billion, mainly to support marine business liquidity needs[144]. - Long-term equity investments increased by 63.35% to approximately CNY 732.75 million, primarily due to increased investment in China Communications Technology Co., Ltd.[144].