航天机电(600151) - 2021 Q4 - 年度财报

Financial Performance - In 2021, the company's net profit attributable to the parent company was CNY 59,990,004.20, with cumulative undistributed profits amounting to CNY -1,049,901,510.96[7] - The parent company achieved a net profit of CNY 50,568,206.12, resulting in cumulative undistributed profits of CNY -65,319,937.49[7] - The company will not distribute cash dividends or increase capital reserves in 2021, as per its articles of association[7] - The company achieved operating revenue of RMB 6.29 billion in 2021, an increase of 3.28% compared to 2020[25] - The net profit attributable to shareholders was RMB 59.99 million, a decrease of 65.02% from the previous year[25] - The net cash flow from operating activities reached RMB 472.42 million, representing a significant increase of 165.71% year-on-year[25] - Basic earnings per share were RMB 0.0418, down 65.05% from RMB 0.1196 in 2020[26] - The company reported a weighted average return on equity of 1.10%, down from 3.19% in 2020[26] - The company achieved a consolidated revenue of RMB 6.29 billion, an increase of 3.28% year-on-year, while the net profit decreased by 57.93% to RMB 52.58 million due to the previous year's significant asset sale[51] Risk Management and Compliance - The company has detailed the risks and countermeasures in the report, which investors are advised to review[9] - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[9] - The company has not violated decision-making procedures for external guarantees[9] - All board members attended the board meeting, ensuring accountability for the report's accuracy[5] - The company has implemented measures to ensure compliance with corporate governance standards, maintaining transparency and protecting shareholder rights[159] - The company held multiple shareholder meetings in 2021, all of which passed resolutions without any rejections, indicating strong governance practices[166] - The company is committed to enhancing its governance structure in accordance with relevant laws and regulations to improve operational standards[162] Operational Highlights - The company disposed of non-current assets, generating a profit of RMB 96.00 million from the sale of 100% equity in a subsidiary[30] - Government subsidies recognized in the current period amounted to RMB 12.91 million, down from RMB 47.01 million in 2020[30] - The total assets at the end of 2021 were RMB 10.70 billion, a slight increase of 0.58% compared to the end of 2020[25] - The company plans to enhance market expansion and strengthen cost control measures moving forward[36] - The company completed a comprehensive exit from traditional automotive parts business and reduced stakes in certain projects to enhance investment efficiency[40] Research and Development - The company employed 396 R&D personnel and obtained 37 patent authorizations, including 18 invention patents, focusing on high-performance condenser technology and new energy vehicle applications[39] - The company has completed the development of a high-performance condenser, which is now being applied in customer projects[88] - The company is investing heavily in R&D, with a budget allocation of 100 million yuan for the development of new technologies in electric vehicle components[178] - The company has a structured remuneration decision process for independent directors, with compensation determined by the shareholders' meeting[184] Market and Industry Trends - The automotive parts industry saw a significant increase in domestic brand customer proportion, with key clients including BMW, Volkswagen, General Motors, and BYD[38] - In the photovoltaic sector, the company achieved a record sales volume of 1.4 GW of components, marking a historical high, while expanding into emerging markets like Brazil[38] - The automotive industry in China saw a production and sales increase of 3.4% and 3.8% respectively, with new energy vehicle sales growing by 160%[44] - China's photovoltaic industry achieved a record new installed capacity of approximately 54.88 GW, with a year-on-year growth of 13.9%[45] - The photovoltaic segment generated revenue of RMB 3.20 billion, a year-on-year increase of 10.12%, with profits totaling RMB 90.99 million, driven by strong market demand and price increases in silicon materials[56] Cost Management - Cost control measures were implemented, focusing on optimizing production and management processes to reduce costs and improve operational quality[41] - The total cost for raw materials increased by 16.72% to ¥2,012,296,594.22, accounting for 78.21% of total costs[72] - The overall total cost increased by 3.80% to ¥5,426,394,544.96 compared to the previous year[72] - The company reported a significant increase in transportation costs, which rose by 103.96% to CNY 28,075,920.27 due to new customer transportation fees and pandemic impacts[75] Future Outlook - The company aims to achieve a consolidated revenue of 72.12 billion and a profit of 50 million in 2022[149] - Future outlook indicates a projected revenue growth of 10% for 2022, driven by new product launches and market expansion strategies[178] - The company plans to enhance its production capacity through upgrades and new technology implementations, aiming for improved efficiency and output in the upcoming fiscal periods[127] - The company is actively managing risks related to raw material price increases and supply chain disruptions through long-term contracts and strategic partnerships[151] Corporate Governance - The company has implemented measures to ensure compliance with corporate governance standards, maintaining transparency and protecting shareholder rights[159] - The company held multiple shareholder meetings in 2021, all of which passed resolutions without any rejections, indicating strong governance practices[166] - The company is committed to enhancing its governance structure in accordance with relevant laws and regulations to improve operational standards[162] - The company has a diverse board with members holding positions in various other organizations, indicating a broad network and influence in the industry[182]