Financial Performance - The company's revenue for the year ended December 31, 2021, was RMB 60.296 billion, an increase of 18.39% from RMB 50.930 billion in 2020[11]. - The total profit for the year was RMB 5.315 billion, reflecting a growth of 24.53% compared to RMB 4.268 billion in the previous year[11]. - Net profit attributable to the parent company's shareholders was RMB 2.369 billion, up 22.56% from RMB 1.933 billion in 2020[11]. - The gross profit margin for 2021 was 21.06%, compared to 20.49% in 2020, indicating a slight improvement[11]. - The operating profit for the year was RMB 5.262 billion, an increase of RMB 0.989 billion or 23.15% from RMB 4.273 billion in the previous year[35]. - The revenue from the aviation complete machine business was RMB 20.388 billion, an increase of RMB 1.329 billion or 6.97% compared to RMB 19.059 billion in the previous year[28]. - The revenue from aviation supporting systems and related businesses reached RMB 33.181 billion, an increase of RMB 7.658 billion or 30.00% from RMB 25.523 billion in the previous year[28]. - The revenue from the aviation engineering services business in 2021 was RMB 6.727 billion, an increase of 5.97% year-on-year[52]. - Employee costs for the year amounted to RMB 11.180 billion, an increase of RMB 1.802 billion or 19.22% compared to RMB 9.378 billion in the previous year[62]. Assets and Liabilities - The total assets of the company as of December 31, 2021, amounted to RMB 133.889 billion, an increase from RMB 115.649 billion in 2020[12]. - The total liabilities increased to RMB 79.123 billion from RMB 69.499 billion in the previous year[12]. - As of December 31, 2021, the group's cash and cash equivalents net amount was RMB 23.539 billion, primarily generated from operating activities and the issuance of A-shares by subsidiaries[41]. - The total borrowings of the group as of December 31, 2021, amounted to RMB 10.579 billion, with short-term borrowings of RMB 3.315 billion and long-term borrowings of RMB 6.140 billion[44]. Research and Development - The company incurred research and development expenses of RMB 3.452 billion, an increase of RMB 0.450 billion or 14.99% compared to RMB 3.002 billion in the previous year[33]. - Investment in R&D has increased by 25%, focusing on innovative technologies to enhance product offerings and maintain competitive advantage[75]. - The company has invested a total of RMB 5.521 billion in fundraising for the production and R&D of advanced trainer aircraft, helicopters, and aviation composite materials as of December 31, 2021[60]. Strategic Initiatives - The company plans to continue expanding its aviation high-tech military and civilian products and services, aiming to enhance its market position[22]. - The company aims to promote the industrialization of civil helicopters and explore new growth drivers in the aviation industry[23]. - The group aims to become a flagship company for high-tech military and civilian aviation products and services, focusing on strategic deployment and technological innovation[53]. - The company plans to enhance its high-tech aviation industry group and focus on market-driven and innovation-driven transformations in the aviation industry[23]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next three years[76]. Governance and Compliance - The company emphasizes the importance of maintaining a robust governance structure and compliance with regulatory requirements to mitigate operational risks[23]. - The company has implemented internal controls to ensure compliance with relevant laws and regulations in China, with no significant violations reported as of December 31, 2021[142]. - The board of directors includes experienced professionals with backgrounds in finance and management, ensuring strong governance and strategic oversight[72]. - The company has established a risk management and internal control system tailored to its business model to improve risk management standards[153]. - The board is responsible for the integrity of financial data and the effectiveness of internal controls and risk management procedures[157]. Shareholder Information - The total revenue for the fiscal year ended December 31, 2021, was reported at RMB 616,906,579.36, with a proposed final dividend of RMB 0.08 per share, an increase from RMB 0.05 per share in the previous year[84]. - The board of directors proposed a final dividend amounting to RMB 616,906,579.36, subject to approval at the annual general meeting scheduled for May 27, 2022[85]. - As of December 31, 2021, the total number of shares issued was 7,711,332,242, with 1,500,669,406 domestic shares (19.46%) and 6,210,662,836 H-shares (80.54%)[88]. Related Party Transactions - The company engaged in continuous related party transactions with China Aviation Industry Group and its subsidiaries, including agreements for mutual supply of aviation products and services until December 31, 2023[102]. - A product mutual supply agreement was signed on August 21, 2020, allowing the exchange of manufacturing materials, components, and services related to aviation products[102]. - The company agreed to provide entrusted loans to Aviation Industry New Energy through AVIC Finance, with a daily balance not exceeding RMB 300 million until December 31, 2022[108]. Market Position and Recognition - The company has been recognized as one of the Fortune Global 500 for the 13th consecutive year, ranking 140th overall and 2nd in the aerospace and defense sector[22]. - The group showcased its new 10-ton medium utility helicopter at the 13th China International Aviation and Aerospace Exhibition, highlighting advancements in aviation equipment development[55]. - The L15 advanced trainer aircraft gained significant attention at the 17th Dubai International Airshow, enhancing the group's market influence in the trainer aircraft sector[56]. Risk Management - The company is subject to various financial risks, including exchange rate risks, which may affect its performance and operations[144]. - The audit and risk management committee reviewed the effectiveness of the group's risk management and internal control systems for the year ending December 31, 2021, determining them to be effective and sufficient[178]. - The company emphasizes continuous improvement of its risk management and internal control systems to adapt to new regulations and business developments[195].
中航科工(02357) - 2021 - 年度财报