Saurer Intelligent(SH:600545)2022-04-29 16:00Financial Performance - In 2021, the company achieved a total revenue of 5,470,199 thousand RMB, representing a 12.8% increase compared to 4,849,549 thousand RMB in 2020[20]. - The net profit attributable to shareholders was -465,092 thousand RMB, an improvement from -561,458 thousand RMB in the previous year[20]. - The net cash flow from operating activities was 85,912 thousand RMB, a significant recovery from -1,092,621 thousand RMB in 2020[20]. - The total assets decreased by 5.6% to 12,127,896 thousand RMB at the end of 2021, down from 12,846,342 thousand RMB in 2020[20]. - The company's net assets attributable to shareholders decreased by 16.3% to 3,294,859 thousand RMB compared to 3,934,982 thousand RMB at the end of 2020[20]. - The weighted average return on net assets was -12.87% in 2021, compared to -12.49% in 2020[21]. - The basic earnings per share for 2021 was -0.2601 RMB, an improvement from -0.3043 RMB in 2020[21]. - The gross margin decreased due to a significant rise in raw material costs and logistics expenses, despite revenue growth[51]. - The company reported a net loss of 548.082 million yuan for the fiscal year 2021, leading to no cash dividend distribution[136]. Operational Highlights - The company achieved operating revenue of 5.47 billion RMB, an increase of 12.8% year-on-year[29]. - The spinning division generated operating revenue of 4.20 billion RMB, up 8.8% year-on-year, while the technology division's revenue rose by 27.5% to 1.30 billion RMB[31]. - The company received orders that increased by 59% year-on-year, with year-end orders reaching 2.2 times that of the previous year[29]. - The company reported a significant increase in finished goods inventory by 25.11% year-on-year, reflecting a robust production capacity[39]. - The production volume of ring spinning machines decreased by 8.3% year-on-year, while sales volume increased by 7.7%[54]. Market and Strategic Initiatives - Revenue from the Indian market surged by 119.4% year-on-year, while revenue from China declined by 24.3%[30]. - The company aims to enhance its automation, digitalization, and intelligence levels in the spinning equipment sector, focusing on comprehensive solutions from cotton bales to yarn production[41]. - The company plans to expand its industrial automation business through internal development and external collaborations, including mergers and acquisitions[41]. - The company aims to enhance its digital and intelligent capabilities in textile machinery and prioritize the development of industrial automation as part of its strategic focus[83]. - The company plans to establish a closed-loop data service business to create smart factory solutions for the textile industry, aligning with the integration of new information technology and manufacturing[83]. Risk Management and Compliance - The company warns investors about potential risks related to its future development strategies and operational plans[6]. - The company emphasizes the importance of maintaining financial stability and risk resistance for future operations[4]. - The company has established a comprehensive safety production code to mitigate risks associated with complex production processes, although operational errors may still occur[86]. - The company is required to adhere strictly to legal and regulatory requirements to ensure proper operation and information disclosure in the future[113]. - The company has committed to enhancing its internal control systems and compliance training for management and staff to prevent future violations[166]. Governance and Shareholder Relations - The company has a well-defined corporate governance structure, with no mixed operations or interference from controlling shareholders in its organizational setup[94]. - The company has conducted four shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting the rights of all shareholders[90]. - The board of directors includes independent members, ensuring unbiased oversight of company operations[100]. - The company has not engaged in any related party transactions that could compromise its financial integrity[94]. - The company ensures that independent directors fulfill their responsibilities and that minority shareholders have opportunities to express their opinions[137]. Human Resources and Employee Development - The total number of employees reached 163,400, indicating a stable workforce[102]. - The company has established a comprehensive training system to help employees acquire new skills and knowledge, including on-the-job training and skills training[128]. - The company offers competitive salary and benefits policies, including annual performance bonuses based on employee and company performance[127]. - The number of R&D personnel is 342, accounting for 10.4% of the total workforce, indicating a strong focus on innovation[61]. Future Outlook - The company anticipates challenges in 2022 due to complex international economic conditions but remains confident in its long-term growth potential[81]. - The company plans to continue increasing R&D investment to enhance its competitive edge in the market[62]. - The company aims to achieve a revenue growth target of 10% for the upcoming fiscal year[103]. - The company is committed to maintaining strong financial health while pursuing strategic investments[105].