KLM(SH:600686)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥15.42 billion, an increase of 10.46% compared to ¥13.96 billion in 2020[21]. - The revenue from core business operations, after excluding unrelated income, was approximately ¥14.42 billion, reflecting a 9.94% increase from ¥13.11 billion in the previous year[21]. - The company reported a net profit attributable to shareholders of -595.22 million RMB for 2021, a significant decline compared to a profit of 31.90 million RMB in 2020[22]. - The operating cash flow for the year was 1.89 billion RMB, an increase of 1,006.82% from 170.45 million RMB in 2020[22]. - Total assets increased by 9.97% year-over-year, reaching 26.08 billion RMB at the end of 2021, compared to 23.72 billion RMB at the end of 2020[22]. - The company achieved a basic earnings per share of -0.89 RMB, down from -0.02 RMB in 2020[23]. - The weighted average return on equity decreased to -16.36%, down 15.96 percentage points from -0.40% in 2020[23]. - Operating costs increased by 14.96% to ¥14.06 billion from ¥12.23 billion, leading to a decline in overall profitability[57]. - The net profit attributable to shareholders was -¥595.22 million, a significant decrease of 1,965.87% from ¥31.90 million in the previous year[57]. Sales and Market Performance - The company sold 50,699 buses in 2021, a year-over-year increase of 16.30%, with electric vehicle sales reaching 16,600 units, up 50.31%[30]. - Export volume reached 17,400 units, representing an 8.05% increase, with export revenue of 4.75 billion RMB, up 46.11% from the previous year[30]. - The bus industry sales in 2021 reached 492,300 units, representing a year-on-year increase of 12.7%, with domestic market growth of 11.7% and export market growth of 21.5%[34]. - The company achieved a total sales volume of 16,154 pure electric vehicles, marking a significant year-on-year increase of 60.07% from 10,092 units sold last year[83]. - The company has seen a substantial increase in the sales of medium-sized buses, with a total of 7,724 units sold, reflecting a 29.06% increase from the previous year[80]. - The total sales of buses in 2021 reached 492,306 units, representing a year-on-year growth of 12.66%[104]. Research and Development - The company is focusing on R&D in smart and electric vehicle technologies, achieving significant advancements in autonomous driving systems[30]. - The company has a total of 1,629 R&D personnel, accounting for 14.29% of the total workforce as of the end of 2021[47]. - The company holds 1,327 valid authorized patents, including 179 invention patents and 146 software copyrights as of the end of 2021[48]. - Research and development expenses rose by 2.45% to ¥643.10 million, indicating continued investment in innovation[57]. - The company has launched several innovative products, including the first nucleic acid testing vehicle and vaccine delivery vehicle, contributing to pandemic control efforts[30]. Risk Management and Compliance - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section[8]. - The company is committed to addressing risks and has provided strategies for potential challenges in its future outlook[8]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures regarding external guarantees[8]. - The company has not engaged in any securities investments or held shares in other listed companies during the reporting period[97]. Corporate Governance - The board of directors has confirmed that all members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has established a stable profit distribution policy, with a shareholder return plan for 2021-2023 approved at the 2020 annual general meeting[125]. - The company maintains a high level of independence from its controlling shareholder, with separate financial departments and independent decision-making processes[126]. - The company emphasizes investor communication through various channels, including performance briefings and investor hotlines, to enhance transparency[124]. - The company has a robust internal control system in place, ensuring effective supervision of decision-making processes by the board and audit committees[123]. Environmental and Social Responsibility - The company has maintained compliance with environmental standards, with actual emissions of pollutants significantly below allowed levels[162]. - The actual discharge of COD was 248 mg/L, well below the allowed limit of 500 mg/L[163]. - The company is committed to green development and has increased investment in energy conservation and emission reduction initiatives[175]. - The company has actively participated in social responsibility initiatives, including purchasing nearly 1.7 million yuan worth of poverty alleviation products in 2021[194]. - The company has publicly disclosed self-monitoring environmental information and accepted social supervision[190]. Future Outlook - The company aims for a revenue growth of over 10% in 2022, with expense ratios expected to remain stable compared to 2021[114]. - The company plans to invest approximately 108 million yuan in ongoing projects in 2022, primarily funded by internal resources, bank loans, bond issuance, and fundraising[115]. - The company is focusing on expanding its new energy vehicle product line and enhancing its international development strategy[113]. - The company recognizes the risk of changes in new energy vehicle policies affecting sales and profitability, and is focusing on core technology development to mitigate this risk[117]. - The company is addressing risks related to macroeconomic conditions, including trade protectionism and currency fluctuations, which may impact international market demand[116].