JAC(SH:600418)2022-03-24 16:00Financial Performance - The company achieved a net profit of CNY 380,551,978.05 for the year 2021, with a statutory surplus reserve of CNY 38,055,197.81 deducted, resulting in a distributable profit of CNY 2,738,350,813.01[6] - The proposed cash dividend is CNY 0.28 per share, totaling CNY 61,152,274.15, which represents 30.58% of the net profit attributable to shareholders[6] - The company reported a net profit attributable to shareholders of CNY 199,999,353.78 for the year 2021[6] - The net profit attributable to shareholders was CNY 199.99 million, representing a 40.24% increase from CNY 142.61 million in 2020[25] - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to CNY -1.88 billion in 2021, compared to CNY -1.72 billion in 2020[25] - The total operating revenue for 2021 was 40.31 billion RMB, a decrease of 6.05% compared to the previous year[44] - The company’s total assets increased by 10.10% to CNY 46.37 billion at the end of 2021, compared to CNY 42.12 billion at the end of 2020[25] - The net cash flow from operating activities was CNY 1.72 billion, a significant recovery from a negative cash flow of CNY 1.33 billion in 2020[25] - Basic earnings per share rose to CNY 0.10, up 25.00% from CNY 0.08 in 2020[26] - The weighted average return on equity increased to 1.50%, up 0.40 percentage points from 1.10% in 2020[26] Market and Sales Performance - The company sold 524,200 vehicles in 2021, achieving a year-on-year growth of 15.63%, with total revenue for the year at ¥40.31 billion, a decrease of 6.05% compared to the previous year[36] - The company achieved a market share of 13.4% in the new energy vehicle sector, up 8 percentage points from the previous year[40] - New energy vehicle sales surged by 169.12% to 134,118 units, with production increasing by 162.40% to 131,451 units[68] - The company’s overseas sales revenue reached approximately 6.28 billion RMB, reflecting an increase of 87.94% year-on-year[47] Research and Development - The company’s R&D expenses in 2021 were approximately 1.37 billion RMB, down 18.05% from the previous year[45] - The total R&D investment amounted to 1,794,197,174.10 yuan, which is 4.46% of the operating revenue, with capitalized R&D accounting for 23.41% of the total[55] - The company is actively pursuing new technologies and product innovations to strengthen its competitive position in the automotive industry[25] - The company is focusing on product innovation, launching new models such as the "Starry Digital Cockpit" and "Intelligent Coupe" aimed at younger consumers[37] Corporate Governance - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations[83] - The total pre-tax compensation for the executives during the reporting period amounted to 767.73 million CNY[87] - The company has established several specialized committees, including the Audit Committee and the Strategic Committee, to enhance governance[102] - The audit committee confirmed that related party transactions were legal and did not harm the interests of the company and its shareholders[103] Environmental Management - The company has implemented a comprehensive waste management strategy, ensuring hazardous waste is handled according to regulatory standards[131] - The company’s emissions management includes advanced systems for treating volatile organic compounds (VOCs) during the painting process[130] - The company emphasizes compliance with environmental regulations and has established protocols for pollutant discharge[130] - The company has implemented noise reduction measures to minimize adverse effects on surrounding residents and businesses[177] Leadership Changes - The company reported a change in leadership with Xiang Xingchu becoming the chairman after the retirement of former chairman An Jin in April 2021[90] - The company announced the appointment of Li Ming as the new general manager on December 24, 2021[90] - Zhang Lichun was appointed as the financial officer following the dismissal of the previous financial officer Tao Wei on December 24, 2021[90] Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming years[25] - The company plans to produce and sell 568,000 vehicles and chassis in 2022, representing a year-on-year growth of 8.36%[79] - The expected total revenue for 2022 is RMB 45 billion, an increase of 11.63% compared to the previous year[79] - The company anticipates stable automotive market demand in 2022, despite challenges such as chip shortages and high raw material prices[77]