吉鑫科技(601218) - 2021 Q4 - 年度财报

Financial Performance - In 2021, the company's operating revenue was CNY 1,858,647,141.73, a decrease of 9.28% compared to 2020[20] - The net profit attributable to shareholders was CNY 208,928,336.75, down 10.63% from the previous year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 185,967,431.02, a decline of 19.43% year-on-year[20] - The net cash flow from operating activities was CNY 105,028,728.40, a significant drop of 85.61% compared to 2020[20] - As of the end of 2021, the total assets amounted to CNY 4,013,160,577.27, a decrease of 5.33% from the previous year[20] - The net assets attributable to shareholders were CNY 2,736,741,459.52, showing a slight increase of 0.51% year-on-year[20] - Basic earnings per share decreased by 10.64% to CNY 0.2142 in 2021 compared to CNY 0.2397 in 2020[21] - Diluted earnings per share decreased by 9.52% to CNY 0.2138 in 2021 compared to CNY 0.2363 in 2020[21] - The net profit for the period was CNY 208,252,657.03, reflecting an 11.11% decline from the previous year[42] - The total profit for 2021 was approximately ¥216.89 million, down 20.59% from ¥272.98 million in 2020[188] Revenue and Sales - Revenue from casting business declined by 12.8% to CNY 1.63 billion in 2021 due to a decrease in wind turbine component prices[29] - The company achieved operating revenue of 1.859 billion yuan, a decrease of 9.28% compared to the same period last year[31] - The company achieved sales revenue of CNY 1,662.71 million from hub and base products, a decrease of 12.90% compared to CNY 1,908.97 million in 2020[170] - The company reported sales revenue of CNY 195.94 million from wind power services, an increase of 40.15% compared to CNY 139.80 million in 2020[170] Costs and Expenses - The operating cost was CNY 1,450,715,338.17, down 4.81% year-on-year[42] - The cost of casting business decreased by 5.45% to CNY 1.389 billion in 2021 despite rising raw material prices[30] - Research and development expenses increased by 13.77% to CNY 70,298,709.32, indicating a focus on innovation[42] - The gross margin for the wind turbine manufacturing segment was 14.79%, a decrease of 6.63 percentage points year-on-year[44] - The company reported a decrease in financial expenses to approximately ¥40.64 million in 2021 from ¥43.62 million in 2020, a reduction of 6.78%[188] Investments and R&D - The company completed the development of 37 new processes with a first-time verification pass rate of 93.1% during the reporting period[31] - A total of 4 invention patents and 9 utility model patents were applied for and accepted during the reporting period[31] - The company is investing in new technology development, allocating $50 million towards R&D initiatives in the upcoming fiscal year[89] - The company has committed to increasing R&D investments and attracting high-end talent, especially in digital innovation[75] Market and Industry Outlook - The wind power industry is expected to see an average annual increase of 23 GW in new installation capacity in China from 2018 to 2027, with a CAGR of 1.9%[35] - By the end of 2021, the cumulative installed capacity of wind power in China reached 328 million kilowatts, with onshore wind power accounting for 302 million kilowatts[35] - The global offshore wind power capacity is expected to increase from 13 GW in 2015 to 100 GW by 2030, driven by technological advancements and cost reductions[63] Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with the guidelines for independent director systems[81] - The company has established a robust information disclosure system, ensuring timely and accurate communication with all shareholders[82] - The company has a strategic committee, a compensation and assessment committee, a nomination committee, and an audit committee to enhance governance and decision-making processes[81] - The company has implemented measures to ensure the independence of its operations, including asset, personnel, and financial independence[82] Environmental and Social Responsibility - The company is committed to achieving carbon neutrality by 2060, aligning with national goals for carbon emissions reduction[64] - The company aims to achieve a clean energy ratio of 50% or more by 2025, as outlined in the "14th Five-Year Plan" for major state-owned enterprises[70] - The company has implemented pollution prevention facilities in compliance with environmental protection requirements, ensuring effective operation through monitoring systems[121] - The company donated 188,600 RMB to local education reward funds and public welfare organizations during the reporting period[128] Challenges and Risks - The company faces risks from fluctuations in the wind power industry, policy changes, and rising raw material prices[76] - The company is navigating challenges posed by the ongoing COVID-19 pandemic, which may impact overall performance in 2022[78] - The company has faced regulatory scrutiny, which may impact its market reputation and operations[95] Shareholder Information - The largest shareholder, Bao Shijin, holds 273,199,388 shares, representing 27.95% of the total shares, with 76,627,778 shares pledged[157] - The second-largest shareholder, Zhang Jinyu, holds 68,415,200 shares, representing 7.00% of the total shares[157] - The total number of ordinary shareholders as of the end of the reporting period is 92,114, down from 97,732 at the end of the previous month[154] Cash Flow and Financial Position - The net cash flow from investing activities was -¥262,731,917.10 in 2021, compared to ¥7,790,412.78 in 2020, indicating a shift towards more investment expenditures[195] - The ending cash and cash equivalents balance for 2021 was ¥208,655,182.95, a decrease from ¥549,001,424.81 in 2020[195] - Total current assets for 2021 amounted to ¥2,105,641,126.31, a decrease from ¥2,241,018,376.20 in 2020, reflecting a decline of approximately 6.06%[182]