常辅股份(871396) - 2021 Q4 - 年度财报

Company Overview - The company was listed on the Beijing Stock Exchange on November 15, 2021, becoming one of the first companies to do so[6]. - The company has a total share capital of 53,263,891 shares, with the controlling shareholder being Du Faping[28]. - Du Faping has been the chairman and general manager since the company's establishment in 2001, exerting significant influence over company decisions[196]. - The company did not conduct any public or private stock offerings during the reporting period[200]. - There were no changes in the controlling shareholder or actual controller during the reporting period[197]. Financial Performance - The company's operating revenue for 2021 was ¥227,523,358.24, a decrease of 2.02% compared to ¥232,210,495.75 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥30,511,712.56, down 8.75% from ¥33,437,933.41 in 2020[34]. - The gross profit margin for 2021 was 37.49%, a decline from 40.16% in 2020[34]. - The company's basic earnings per share for 2021 was ¥0.5728, a decrease of 17.64% from ¥0.6955 in 2020[34]. - The net cash flow from operating activities for 2021 was ¥13,894,046.59, a significant decline of 46.44% from ¥25,941,854.81 in 2020[37]. - The average return on net assets after deducting non-recurring gains and losses was 16.53% in 2020 and dropped to 11.23% in 2021, highlighting a trend of declining profitability[18]. - The weighted average return on net assets for 2021 is 12.64%, down from 17.97% in 2020, reflecting a potential risk of declining profitability[131]. Assets and Liabilities - Total assets increased by 3.31% to ¥376,222,340.31 at the end of 2021, compared to ¥364,184,421.72 at the beginning of the year[36]. - Total liabilities decreased by 6.27% to ¥123,008,608.35 at the end of 2021, down from ¥131,239,346.32 at the beginning of the year[36]. - The company's inventory value at the end of the reporting period was 65.21 million yuan, accounting for 17.33% of total assets[17]. - The company's cash and cash equivalents decreased by 0.30% to CNY 116,986,234.89, representing 31.09% of total assets[66]. - The accounts receivable increased by 0.47% to CNY 67,937,927.66, making up 18.06% of total assets[66]. Research and Development - The company has developed core technologies in valve electric actuators and intelligent control systems, maintaining a leading position in the industry[15]. - The company holds 50 patents as of December 31, 2021, including 5 invention patents and 43 utility model patents, along with 3 software copyrights[16]. - Research and development expenses increased by 11.88% to CNY 9,204,191.25, reflecting the company's commitment to innovation[69]. - The company is focused on continuous technological innovation and product line expansion to enhance market competitiveness and profitability[97]. - The company has invested in 8 R&D projects, including the development of IIOT-based smart new energy cloud electric devices[95]. Market Position and Competition - The company specializes in the manufacturing of valve actuators, with products widely used in nuclear power, petrochemical, metallurgy, municipal, and electric power industries[51]. - The company is positioned among the top three in market competitiveness domestically and aims to move towards high-end products[112]. - The domestic valve actuator industry is projected to grow rapidly due to national industrial restructuring, technological upgrades, and strong government support for fixed asset investment[103]. - The company is positioned to benefit from the increasing demand for high-end automation products, particularly in the nuclear power sector, where domestic manufacturers are improving their technology[65]. Risks and Challenges - The company faces risks related to market competition and the potential for performance fluctuations if it cannot maintain its technological advantages[15]. - The company is exposed to risks from natural disasters, wars, and major pandemics that could impact its operations and profitability[18]. - The company faces management risks associated with scale expansion, necessitating improvements in internal control and governance structures[129]. - The company acknowledges the potential impact of natural disasters and other uncontrollable events on its operations and profitability[132]. - The company faces uncertainties in obtaining future nuclear product orders if there are significant adverse changes in national nuclear development policies or project approvals[136]. Corporate Governance and Shareholder Relations - The company has a significant concentration of ownership, with the top two shareholders holding over 36% of the total shares[196]. - The top ten shareholders collectively hold 63.08% of the company's shares, with 25,839,520 shares at the beginning of the period and 33,602,464 shares at the end[194]. - The company commits to communicate with shareholders, especially minority shareholders, regarding any changes to the profit distribution policy[166]. - The company will adjust its profit distribution policy and future shareholder return plans based on discussions with independent directors and shareholder approval, requiring a two-thirds majority vote[166]. Quality Management - The company has established a strict quality management system, with no major product quality accidents reported, highlighting its commitment to product quality control[16]. - The company has implemented a comprehensive quality management approach to ensure the reliability and safety of its nuclear products throughout the entire process[136][137]. Future Outlook - The future outlook indicates a growing market for nuclear energy as a clean and efficient energy source, contributing to carbon neutrality goals[107]. - The company plans to actively participate in the nuclear power industry chain construction and increase its market share in nuclear power products[111]. - The company aims to enhance the intelligence of civilian products and improve their stability and reliability to meet diverse industry needs[108].