Market Position and Growth - The company achieved a market share of over 20% in the domestic high-end metering products sector, establishing itself as a leader in China[9]. - The company aims to become a leading supplier in the international smart grid and metering sectors, driven by the global shift towards energy efficiency and carbon neutrality[13]. - The company is actively expanding its international market presence by establishing local subsidiaries and factories to enhance localization capabilities[34]. - The company plans to focus on five major power generation groups in 2022, gradually achieving domestic substitution of electric meters in renewable energy and traditional power sectors[77]. - The group aims to expand its overseas market presence, particularly in emerging markets like Latin America and Africa, leveraging opportunities in energy infrastructure development[85]. Financial Performance - The company's revenue for the fiscal year ended December 31, 2021, was approximately RMB 4.59 billion, representing a year-on-year growth of 16.3%[30]. - Net profit for the same period was approximately RMB 268 million, an increase of 16% compared to the previous year[30]. - Basic earnings per share were RMB 0.272, reflecting a year-on-year growth of 15.7%[30]. - International market revenue reached RMB 712 million, marking a significant year-on-year increase of 86.6% despite ongoing global pandemic challenges[30]. - The group’s total revenue for 2021 was RMB 4,590.76 million, an increase of 16% compared to RMB 3,948.75 million in 2020[70]. Research and Development - The company’s R&D efforts include the development of the fifth-generation high-speed power line carrier chip WTZ13, which meets the technical requirements of the State Grid and Southern Grid[12]. - The company is committed to continuous innovation and aims to enhance its core competitiveness through independent chip development[12]. - The company has increased R&D investment in energy internet and smart city technologies, achieving CMMI-ML5 certification for high-quality software integration[84]. - The company has established a research and development center in Shenzhen for integrated operation management of charging and swapping products targeting delivery and logistics personnel[111]. - The company invests over 8% of its annual revenue in research and development and technological innovation to enhance value creation capabilities[191]. Strategic Partnerships and Contracts - The company signed a supply contract with the Federal Electricity Commission in Mexico worth over RMB 260 million, supplying over one million electric meters[26]. - The company has initiated strategic cooperation with China Power International Development to jointly develop new energy and photovoltaic agriculture projects[27]. - The group has signed a strategic cooperation framework agreement with China Power International Development to expand the ADO new energy market in several provinces[92]. - The company has successfully won contracts worth RMB 637 million in the unified bidding organized by the State Grid, marking a five-year high[74]. - The group secured overseas orders amounting to approximately RMB 1,149.72 million, representing a year-on-year growth of 10.6%[98]. Sustainability and Social Responsibility - Wasion Holdings Limited is a leading provider of smart metering, smart distribution, and energy efficiency management solutions in China, aiming to become a global expert in energy metering and efficiency management[119]. - The company emphasizes its commitment to sustainable development and has integrated social responsibility into its mid- to long-term development strategy, focusing on energy technology advancement as a key driver for achieving carbon neutrality[121]. - The company has established a social responsibility management mechanism driven by the board of directors, ensuring stakeholder participation and continuous improvement in social responsibility performance[129]. - The company actively engages in social welfare and volunteer activities, enhancing its community presence and brand reputation[150]. - The company focuses on ESG performance as a comprehensive indicator of its sustainable development capabilities in response to climate change and carbon neutrality goals[138]. Innovation and Technology - The company launched the first domestically produced power control chip "Fuxi," ensuring the independence of core intellectual property rights[69]. - The company has developed and produced energy storage battery containers with 1000V and 1500V specifications, focusing on lithium iron phosphate battery materials[111]. - The company’s new modular NB-IoT water meter with current monitoring capabilities was launched in 2021, enabling remote battery level prediction and circuit fault self-diagnosis[110]. - The group completed the development and promotion of a new platform for single and three-phase ANSI meters in the Mexican market, and launched a new smart meter AMI solution based on Wi-SUN technology in Brazil[113]. - The company is focused on developing smart energy solutions, including energy storage and microgrid systems, to contribute to carbon reduction and energy efficiency[173]. Operational Efficiency and Management - Operating expenses accounted for 23% of total revenue in 2021, up from 22% in 2020, totaling RMB 1,039.59 million[50]. - The company achieved a 30% increase in production efficiency through smart manufacturing upgrades, including the establishment of a data center and the application of MES systems[182]. - The company has implemented a comprehensive waste management system to enhance recycling and reduce material loss during operations[169]. - The company emphasizes quality management, implementing scientific inspection standards and regular quality training to ensure product quality throughout its lifecycle[196]. - The company has established a comprehensive management system based on ISO standards, enhancing its lean management capabilities and supporting the "dual carbon" policy[134].
威胜控股(03393) - 2021 - 年度财报