恒立液压(601100) - 2021 Q4 - 年度财报

Financial Performance - The company achieved a net profit of ¥1,238,534,456.27 for the fiscal year 2021, with a statutory reserve of ¥123,853,445.63 and a dividend distribution of ¥783,216,000.00 for the previous year[5]. - The proposed cash dividend for 2021 is ¥7.30 per 10 shares, totaling ¥952,912,800.00, with retained earnings of ¥2,224,080,662.29 to be carried forward[5]. - The total distributable profit available for shareholders at the end of the reporting period was ¥3,176,993,462.29[5]. - The company's operating revenue for 2021 was CNY 9,309,218,098.53, representing an 18.51% increase compared to CNY 7,855,038,369.93 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 2,693,599,997.73, a 19.51% increase from CNY 2,253,874,553.32 in 2020[21]. - The net cash flow from operating activities increased by 41.15% to CNY 2,795,650,375.60 in 2021, compared to CNY 1,980,571,208.32 in 2020[21]. - The company's total assets reached CNY 12,332,043,327.93 at the end of 2021, up 16.12% from CNY 10,620,327,083.83 at the end of 2020[21]. - Basic earnings per share for 2021 were CNY 2.06, a 19.08% increase from CNY 1.73 in 2020[22]. - The weighted average return on equity decreased by 1.9 percentage points to 32.83% in 2021, down from 34.73% in 2020[22]. Research and Development - The company increased its R&D investment to enhance long-term competitiveness and improve internal management efficiency[29]. - The company invested 636 million yuan in R&D, a 106% increase compared to the previous year, and filed 72 patent applications, including 10 invention patents[32]. - The company plans to increase R&D investment to enhance product variety and maintain a technological and quality advantage in the hydraulic cylinder market[64]. - The company is focusing on expanding its market share in foreign brands of excavator hydraulic cylinders while continuing to strengthen its leading position in domestic brands[64]. Market Strategy and Expansion - The company plans to continue its strategic focus on market expansion and new product development in the upcoming years[6]. - The company plans to expand its market share in electric control and execution devices to align with the electrification trend in the construction machinery industry[29]. - The company is expanding its international presence with a new factory in Mexico, which is currently in the preparation stage[31]. - The company plans to maintain a borrowing limit of 150 million RMB from its controlling shareholder, with an interest rate of 3% for a term of 36 months[130]. Corporate Governance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report[4]. - The audit report issued by the accounting firm is a standard unqualified opinion[4]. - The management team includes experienced professionals with backgrounds in engineering and finance, enhancing the company's strategic direction[77]. - The company has established a robust internal audit and compliance framework, ensuring financial integrity and operational efficiency[77]. - The performance evaluation for executives is based on KPI metrics, ensuring accountability and alignment with company goals[81]. Environmental Responsibility - The company reported a total pollutant discharge of 11.5 tons, with a permitted discharge limit of 30 tons, and no exceedance of standards noted[109]. - Environmental protection investments exceeded 6.6 million yuan in 2021, representing a 37% year-on-year increase[117]. - The company has implemented energy-saving measures, including the replacement of traditional lighting with LED lights, achieving significant energy savings[117]. - The company has established a wastewater treatment station that operates continuously and meets discharge standards[110]. Financial Management - The company has committed to not engaging in any competitive activities that conflict with its business interests, ensuring compliance with its commitments[120]. - The company commits to a stable cash dividend plan, distributing no less than 10% of the annual distributable profit in cash, and a cumulative distribution of at least 30% of the average annual distributable profit over the next three years[122]. - The company has no significant litigation or arbitration matters during the reporting period[126]. - The company has no significant related party transactions involving asset or equity acquisitions or sales during the reporting period[129]. Shareholder Information - The total number of employees in the parent company and major subsidiaries is 5,801, with 4,009 in production roles[95]. - The company reported a total of ¥3,176,993,462.29 available for distribution to shareholders at the end of the reporting period[100]. - The company has established a three-year shareholder return plan from 2021 to 2023[5]. - The company’s major customers accounted for 60.17% of total annual sales, indicating a strong reliance on a few key clients[47]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[7]. - The company faces market risks in its international operations due to various factors such as political and cultural differences[67]. - The company is exposed to exchange rate risks, particularly with its growing North American business involving USD transactions[67]. - The company is vulnerable to fluctuations in raw material prices, including steel and castings, which could impact production costs[67].