宝胜股份(600973) - 2021 Q4 - 年度财报

Financial Performance - In 2021, the company's operating revenue reached RMB 42,878,357,807.26, an increase of 25.07% compared to RMB 34,284,215,420.93 in 2020[20] - The net profit attributable to shareholders of the listed company was RMB -762,988,864.54, representing a decrease of 435.91% from RMB 227,141,875.43 in the previous year[20] - Basic earnings per share decreased to -0.56 CNY, a decline of 429.41% compared to 2020[22] - The company reported a net profit attributable to shareholders of -1.049 billion CNY in Q4 2021[24] - The company reported a net profit for 2021 was a loss of ¥645.91 million, compared to a profit of ¥264.47 million in 2020, indicating a significant decline[173] - The company incurred a credit impairment loss of CNY 1,293,825,855.48 in 2021, a significant increase from a gain of CNY 25,621,614.16 in 2020, indicating rising credit risks[176] - The company reported a net loss of approximately CNY 451.97 million, compared to a loss of CNY 872.60 million in the previous year, indicating an improvement of around 48%[190] Cash Flow and Assets - The net cash flow from operating activities was RMB 437,635,519.16, a significant improvement from RMB -157,766,252.84 in 2020[20] - The total assets at the end of 2021 were RMB 20,752,024,462.86, a slight decrease of 0.47% from RMB 20,850,440,570.01 at the end of 2020[21] - The company's cash and cash equivalents increased to CNY 3,821,867,905.00 from CNY 3,574,910,162.81, reflecting a growth of about 6.9%[163] - The company's accounts receivable increased to CNY 4,728,408,591.67 from CNY 3,843,248,139.93, reflecting a growth of approximately 23.0%[163] - The total liabilities rose to CNY 16,097,993,917.75, compared to CNY 14,934,935,385.86 in 2020, representing an increase of approximately 7.8%[165] - The total cash outflow from operating activities was CNY 46,351,903,116.66, compared to CNY 38,819,961,414.25 in 2020, indicating increased operational expenditures[179] Investments and R&D - Research and development expenses increased by 44.55% to ¥718,512,912.59, reflecting a rise in investment in innovation[52] - The company completed 224 technology projects, with 88 projects concluded during the year[45] - The company plans to invest approximately 680 million RMB to construct an innovation research and sales center in Yangzhou, covering an area of about 16.86 million square meters[132] - The company is investing in new product development, with a budget allocation of 4,988,739.23 for R&D initiatives[199] Market and Industry Outlook - The company has identified various industry and market risks that may impact future performance, as detailed in the report[7] - The demand for high-voltage and ultra-high-voltage cables is expected to grow significantly due to the increasing need for large-scale power transmission and the construction of new power grids[35] - In 2021, China's offshore wind power installations accounted for over 50% of the global new installations, positioning China as the second-largest offshore wind market globally[39] - The military drone market is projected to reach 770 million yuan during the 14th Five-Year Plan period, driven by increased procurement and development efforts[41] Governance and Compliance - The company is committed to maintaining transparency and has ensured that all board members attended the board meeting to approve the report[4] - The audit report issued by Da Xin Accounting Firm confirmed the accuracy and completeness of the financial statements[5] - The company held one annual general meeting and three extraordinary general meetings during the reporting period, ensuring compliance with legal requirements[85] - The board of directors consists of 8 members, including 3 independent directors, complying with legal requirements[86] - The company has not faced significant differences in governance compared to regulatory requirements[88] Strategic Initiatives - The company plans to implement a three-year rolling plan for digital transformation from 2021 to 2023[33] - The company aims to enhance its core competitiveness by focusing on internationalization, high-end, specialization, informatization, and service-oriented strategies[78] - The company plans to optimize product structure and enhance profitability by seizing opportunities in new infrastructure and renewable energy markets[79] - The company is focusing on technological innovation and quality improvement as part of its strategic initiatives to enhance operational efficiency and management standards[42] Social Responsibility and Community Engagement - The company conducted volunteer services for COVID-19 prevention, enhancing employee awareness and community support[118] - The company recognized the need for ongoing improvement in fulfilling social responsibilities compared to stakeholder expectations[119]