同享科技(839167) - 2021 Q4 - 年度财报

Revenue and Customer Concentration - The company achieved a revenue concentration risk, with sales to JinkoSolar and its subsidiaries accounting for 45.89% and to LONGi Green Energy Technology Co., Ltd. and its subsidiaries accounting for 35.07% of total revenue, totaling 98.90% from the top five customers[12] - The company’s major customer, JinkoSolar, accounted for 45.89% of total sales, highlighting a significant reliance on key clients[78] - The company has maintained a high customer concentration, with sales to Jinko Solar and its subsidiaries accounting for 45.89% of total revenue, and sales to Longi Green Energy and its subsidiaries accounting for 35.07%, totaling 98.90% for the top five customers[105] Financial Performance - The company's operating revenue for 2021 was RMB 802,624,894.71, representing a year-on-year increase of 28.45% compared to RMB 624,832,620.95 in 2020[28] - The net profit attributable to shareholders for 2021 was RMB 53,976,618.37, a decrease of 10.25% from RMB 60,141,950.32 in 2020[28] - The gross profit margin for 2021 was 12.13%, down from 17.66% in 2020[28] - The company's weighted average return on equity based on net profit attributable to shareholders was 17.17% in 2021, down from 30.33% in 2020[28] - The basic earnings per share for 2021 was RMB 0.52, a decrease of 56.30% from RMB 1.19 in 2020[28] - The total operating costs increased by 37.08% to 705,257,686.71 yuan, driven by rising raw material prices[68] Assets and Liabilities - The company's asset-liability ratio stood at 37.28%, with indirect financing from banks amounting to 120.79 million yuan, representing 25.72% of current assets[12] - Total assets increased by 13.33% to RMB 540,313,112.99 at the end of 2021, compared to RMB 476,767,688.70 at the beginning of the year[30] - The total liabilities at the end of 2021 were RMB 201,426,351.84, an increase of 8.23% from RMB 186,117,545.92 at the beginning of the year[30] - The company’s total liabilities included short-term borrowings of 120,789,485.62 yuan, accounting for 22.36% of total assets, an increase of 31.46% from the previous period[60] Cash Flow - The cash flow from operating activities for 2021 was RMB 46,273,011.35, a significant improvement from a negative cash flow of RMB -66,162,745.69 in 2020[32] - The net cash flow from operating activities increased by ¥112,435,757.04 compared to the same period last year, primarily due to an increase in the discounting of accounts receivable notes[83] - The net cash flow from investing activities increased by ¥10,491,994.64 year-on-year, mainly due to significant machinery and equipment purchases in the previous year to meet order demands[83] - The net cash flow from financing activities decreased by ¥107,340,268.13 compared to the previous year, primarily due to cash inflow from a public stock offering in the prior year[83] Research and Development - The company is committed to continuous R&D investment to maintain its competitive edge in the photovoltaic welding strip industry[14] - Research and development expenses amounted to ¥26,909,207.82, reflecting a year-on-year increase of 35.46%[49] - The proportion of R&D personnel to total employees increased to 22.52% from 21.71%[89] - The company holds a total of 82 intellectual property rights, including 3 software copyrights and 2 invention patents[49] - The company is focused on expanding its market share and improving profitability through strong product quality and customer recognition[185] Risks and Challenges - The company is facing risks related to raw material price fluctuations, particularly for copper and tin, which are critical for production[13] - The company is subject to potential changes in government policies that could affect the photovoltaic industry and its operations[104] - The company has established measures to protect intellectual property and stay updated on industry developments to ensure technological leadership[110] Corporate Governance - The company has implemented new governance systems after transitioning to a listed company on the Beijing Stock Exchange[189] - The company has improved its corporate governance structure and internal control systems in compliance with relevant laws and regulations[197] - The company’s board of directors consists of 7 members, with no changes in the chairman or general manager during the reporting period[174] - Independent directors attended 6 board meetings and 5 shareholder meetings, ensuring active participation in governance[200] Shareholder Information - The company’s total share capital increased by 80.00% to 103,320,000 shares at the end of 2021, compared to 57,400,000 shares at the beginning of the year[35] - The largest shareholder, Suzhou Tongyou Investment Management Partnership, holds 54,630,000 shares, representing 52.87% of total shares[149] - The company has 8,060 shareholders as of the end of the reporting period[146] - The controlling shareholder, Suzhou Tongyou Investment Management Partnership, holds 52.87% of the company's shares, with the actual controllers being Lu Libin and Zhou Dongju, who together hold 57.05% of the equity[154] Operational Highlights - The company has established a stable supplier management system, ensuring a good relationship with key suppliers[43] - The company actively participated in exhibitions to expand its market and develop new customers[49] - The company is positioned in the midstream segment of the photovoltaic industry, which is supported by national policies promoting renewable energy[183] - The company has established an ISO14001 environmental management system and complies with national environmental regulations, ensuring legal and compliant emissions[100]