HAGG(SH:601177)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,140,022,101.55, representing an increase of 11.55% compared to CNY 1,918,436,700.15 in 2020[21] - The net profit attributable to shareholders for 2021 was CNY 137,048,852.70, a significant increase of 63.32% from CNY 83,914,652.63 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 58,959,877.49, up 75.36% from CNY 33,622,579.22 in 2020[21] - The basic earnings per share (EPS) increased by 63.30% to CNY 0.3426 compared to CNY 0.2098 in the previous year[23] - The diluted EPS also rose by 63.30% to CNY 0.3426 from CNY 0.2098 year-on-year[23] - The weighted average return on equity improved to 7.32%, up 2.34 percentage points from 4.98% in the previous year[23] - The company reported a significant non-recurring gain from the disposal of assets and government subsidies totaling CNY 78.09 million for the year[32] - The company reported a significant increase in trading financial assets, rising from 1.5 million yuan to 47.2 million yuan, a change of 3046.67%[90] Cash Flow and Investments - The net cash flow from operating activities decreased by 60.42% to CNY 162,453,777.72 from CNY 410,407,610.36 in 2020[21] - Investment activities resulted in a net cash flow of -¥42,865,516.88, a significant decline of 811.74% compared to the previous year[64] - Financing activities showed a net cash inflow of -¥71,246,541.79, improving by 72.98% year-on-year[64] - The company reported an investment income of ¥141,522,302.45, up 58.23% from the previous year, attributed to the sale of a 5% stake in a former subsidiary[64] Assets and Liabilities - As of the end of 2021, the total assets amounted to CNY 4,598,729,541.22, an increase of 14.53% compared to CNY 4,015,179,367.77 at the end of 2020[21] - The net assets attributable to shareholders reached CNY 1,941,328,944.92, reflecting a growth of 12.84% from CNY 1,720,478,647.03 in 2020[21] - The company faced a 10.38% year-on-year increase in accounts receivable, totaling 5.78 trillion yuan by the end of 2021[41] - The company's other receivables increased by 168.57% year-on-year, reaching 19,879,875.69 RMB, compared to 7,402,003.90 RMB in the previous period[91] - Long-term equity investments rose by 33.92% year-on-year, totaling 1,228,551,519.84 RMB, up from 917,396,729.24 RMB[91] Sales and Market Performance - Domestic sales of marine products increased by over 16% year-on-year, while overseas sales saw a slight increase despite challenges[36] - Engineering products' sales grew by over 23% year-on-year, driven by key overseas orders[36] - The sales of agricultural machinery increased by 8.1% year-on-year, with total profits rising by 21.4%[48] - The production of agricultural machinery products surged by 159.41%, with sales increasing by 150.10%[70] - The company achieved operating revenue of 2.14 billion yuan, an increase of 11.55% year-on-year[35] Research and Development - The company completed the development of 104 new products and 7 key components, with 56 new patents granted during the year[37] - Research and development expenses increased by 11.20% to ¥106,568,320.61, driven by investments in new product development[63] - The company has 478 R&D personnel, representing 16.33% of the total workforce[84] - Investment in research and development has increased by 15%, aiming to drive future product innovations[146] Governance and Compliance - The financial report has been audited by Tianjian Certified Public Accountants, providing a standard unqualified opinion[4] - The company maintains a transparent governance structure, ensuring equal treatment of all shareholders and protecting the rights of minority shareholders during decision-making processes[133] - The company has implemented measures to ensure the independence of its operations from its controlling shareholder, maintaining a clear separation in personnel, assets, and business activities[134] - The company has established a robust internal control management system, ensuring compliance with relevant laws and regulations, which has effectively promoted the steady implementation of the company's strategy[181] Environmental and Social Responsibility - The company has been committed to environmental monitoring, engaging third-party agencies for wastewater, waste gas, and noise monitoring, with results meeting national and local standards[190] - The company has maintained its ISO14001:2004 environmental management system certification since 2007, adapting to the revised standards GB/T24001-2016/IS014001-2015[191] - The company has emphasized ecological protection and pollution prevention, continuously investing in pollution control measures[192] Future Outlook and Strategy - The company aims for a revenue target of 2.15 billion yuan in 2022, with operating expenses controlled at 395 million yuan[120] - The company plans to enhance its product development focusing on "lightweight, automation, green, and intelligence" to accelerate product upgrades and develop hybrid and electric products[121] - The company anticipates challenges due to geopolitical risks and inflation pressures but remains optimistic about long-term economic fundamentals[108] - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $100 million allocated for this purpose[151]