DHI(SZ:002487)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was ¥4,431,981,035.44, representing a 33.28% increase compared to ¥3,325,417,315.93 in 2020[32]. - The net profit attributable to shareholders for 2021 was ¥577,402,207.90, up 24.17% from ¥465,022,875.68 in 2020[32]. - The net profit after deducting non-recurring gains and losses was ¥562,168,587.48, reflecting a 24.23% increase from ¥452,518,888.20 in 2020[32]. - The basic and diluted earnings per share for 2021 were both ¥1.04, a 23.81% increase from ¥0.84 in 2020[32]. - The total assets at the end of 2021 were ¥6,650,087,927.21, a 42.71% increase from ¥4,659,929,270.87 at the end of 2020[32]. - The net cash flow from operating activities for 2021 was ¥21,223,949.62, which is a 21.79% increase from ¥17,427,320.33 in 2020[32]. - The company reported a weighted average return on equity of 21.35% for 2021, up from 20.85% in 2020[32]. - The total revenue for the year 2021 was reported at 3.5 billion RMB, representing a year-over-year increase of 15%[180]. - The company achieved a net profit of 450 million RMB in 2021, which is a 20% increase compared to the previous year[180]. Dividend and Shareholder Information - The company reported a cash dividend of 0.22 RMB per 10 shares, totaling a distribution based on a total share capital of 555,661,000 shares[8]. - The company has a total of 260,083,000 shares held by its directors and senior management, with some experiencing changes in shareholding due to personal financial needs[160]. - The company held three shareholder meetings during the reporting period, with participation rates of 42.02% and 52.65% for the temporary meetings[156]. Governance and Management - The company has maintained its commitment to transparency, with all board members present for the report's approval[7]. - The company has not undergone any changes in its controlling shareholders during the reporting period, ensuring continuity in governance[30]. - The company has a robust governance structure, with independent directors and committees in place to ensure compliance with legal and regulatory requirements[155]. - The company operates independently from its controlling shareholders, with no reliance on related party transactions for its main business revenue and profits[154]. - The company has established a complete independent business operation system, including procurement, production, R&D, and marketing[155]. - The company has a clear and independent decision-making process for financial operations, with its own bank accounts and tax registration[155]. - The current management team includes experienced professionals with diverse backgrounds in engineering, finance, and management[175]. - The management team is focused on strategic growth and operational efficiency, leveraging their extensive industry experience[175]. Business Operations and Strategy - The company has not engaged in any mergers or acquisitions during the reporting period, focusing on organic growth[30]. - The company plans to build 2 million kW of new energy projects within three years and has reserved resources for 5 million kW of new energy development[50]. - The company is expanding its business into the downstream wind power industry, with a 300MW wind farm under construction expected to be operational in 2022[69]. - The company is actively expanding its customer base and seeking new industry partnerships to create additional value and ensure sustainable development[63]. - The company is focusing on improving management levels and governance structures to support its rapid development and global expansion[74]. Research and Development - Research and development expenses increased by 38.01% to ¥183,373,132.69, primarily due to increased investment in R&D[100]. - The company aims to enhance product quality and reduce costs through ongoing R&D efforts, focusing on wind power equipment structure products[101]. - The company has developed several patented technologies aimed at improving product structure and economic benefits in the wind power sector[101]. - The number of R&D personnel increased by 62.22% from 90 in 2020 to 146 in 2021, with R&D personnel accounting for 11.74% of the total workforce[106]. - R&D investment amounted to ¥242,872,047.30 in 2021, a 77.18% increase from ¥137,073,520.60 in 2020, representing 5.48% of operating revenue[106]. Market and Industry Trends - In 2021, China's wind power industry added 47.57 million kW of new installed capacity, a decrease from 54.43 million kW in 2020, but still the second highest since the 13th Five-Year Plan, with a cumulative installed capacity of 328.48 million kW, accounting for 13.8% of the national total[45]. - The offshore wind power market in China is expected to grow at a compound annual growth rate of 27% over the next decade, with cumulative installed capacity reaching 100 GW by 2030[45]. - The global wind power industry achieved nearly 93.6 GW of new installed capacity in 2021, with 72.5 GW from onshore and 21.1 GW from offshore wind power, marking a 153% increase in bidding volume compared to 2020[48]. Risks and Challenges - The company faces risks from industry policy adjustments, particularly with the gradual reduction of subsidies for onshore wind projects, which may impact investment willingness and subsequently affect revenue and profit levels[141]. - The international economic environment poses uncertainties, including trade protectionism and the impact of the COVID-19 pandemic, which could adversely affect product sales and profit levels[142]. - Fluctuations in the prices of key raw materials, such as steel and flanges, significantly impact the cost structure, with these materials constituting a high proportion of the main business costs[143]. - The company is increasing its export sales, which raises exposure to exchange rate fluctuations, and is implementing measures to mitigate these risks, including price adjustments and cost control[146]. Subsidiaries and Expansion - The company added 14 subsidiaries during the year, including three second-level units and six third-level units[85]. - The company established a wholly-owned subsidiary, Yantai Dajin Mother Port Wind Power Co., Ltd., with a registered capital of ¥50 million[85]. - The company is actively involved in the research and development of new energy technologies, including offshore wind power systems[88]. - The company has expanded its market presence by establishing subsidiaries in key regions such as Hebei and Shandong provinces[91].