SGEG(SH:601616)2022-06-29 16:00Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of RMB 74,436,237.60, a decrease of 1.66% compared to 2020[4]. - The company's total revenue for 2021 was RMB 1,004,696,405.97, reflecting a decline of 3.24% from the previous year[19]. - The net profit after deducting non-recurring gains and losses was RMB 59,146,417.50, down 11.38% from 2020[19]. - The cash flow from operating activities for 2021 was RMB 161,834,247.13, a decrease of 5.35% compared to the previous year[19]. - The company's total assets at the end of 2021 were RMB 3,036,815,044.40, a decline of 7.49% from the end of 2020[19]. - The net assets attributable to shareholders decreased by 9.60% to RMB 2,381,141,851.57 by the end of 2021[19]. - The company achieved a net profit attributable to shareholders of 74.44 million yuan in 2021, a decrease of 1.66% compared to the previous year[29]. - Total operating revenue for 2021 was 1.005 billion yuan, down 3.24% year-on-year[29]. - Basic earnings per share for 2021 were 0.0851 yuan, an increase of 5.19% from 2020[20]. - The weighted average return on equity was 2.95% in 2021, up 0.09 percentage points from 2020[20]. Shareholder Returns - The company repurchased 81,899,681 shares in 2021, with a total expenditure of RMB 271,322,230.51, which is considered as cash dividends[4]. - The cash dividend amount accounted for 364.50% of the net profit attributable to shareholders in the consolidated financial statements[4]. - The company did not implement cash dividends or capital reserve transfers in 2021, with remaining undistributed profits carried forward to future years[5]. - The company has implemented a cash dividend policy, with a total cash dividend of 170 million yuan over the past three years[35]. - The company has returned a total of CNY 170,072,950.34 in cash dividends to shareholders from 2018 to 2020, and in 2021, it repurchased 81,899,681 shares, accounting for 8.75% of the total share capital, at a total cost of CNY 271,322,230.51[121]. Market and Business Strategy - The company expanded its domestic marketing network, adding partners in cities such as Guangzhou, Shenzhen, and Beijing[29]. - The company is focusing on emerging business markets, making progress in sectors like renewable energy, medical, and data centers[30]. - The company established long-term partnerships in overseas markets to enhance its sales network[29]. - The company is adapting to industry trends by providing intelligent products and specialized services in traditional sectors[30]. - The company is focusing on digital transformation, having completed the first phase of its smart factory construction and the implementation of an intelligent operation center[33]. - The company is actively developing new products, including the P/V series smart medium-voltage switchgear and the SCB series low-carbon energy-saving dry-type transformers[31]. - The company is expanding its market presence in the electric vehicle charging sector with the successful launch of the AEG Poros Legend series charging stations[32]. - The company aims to enhance its core product line and become a benchmark enterprise in digital development and intelligent manufacturing[74]. - The company plans to focus on market expansion and new product development in the upcoming year[189]. Research and Development - The company invested over 4% of its sales revenue in R&D and new product promotion, resulting in 29 new authorized patents in 2021[48]. - The company has a strong emphasis on technological innovation, with over 200 professional honors in technology and innovation accumulated[47]. - The company is recognized as a high-tech enterprise and has been involved in the formulation and revision of national and industry standards[47]. - Research and development expenses for 2021 were CNY 42,527,159.69, a slight increase from CNY 41,577,479.26 in 2020[189]. - Research and development expenses increased to ¥13,088,392.71 in 2021, up from ¥10,507,504.36 in 2020, marking a 24.7% rise[194]. Risk Management - The company has outlined various risks in the annual report, which investors should be aware of[6]. - The company faces risks related to macroeconomic conditions and industry competition[77]. - The company continuously monitors raw material price fluctuations, implementing strategic reserves and optimizing supplier relationships to mitigate adverse impacts on pricing and profitability[79]. - The "14th Five-Year Plan" period is critical for achieving carbon peak goals, and the company aims to enhance its core competitiveness through innovation and development of low-carbon energy systems[80]. - The company has established a comprehensive talent development system to mitigate the risk of talent loss, focusing on career development and performance evaluation mechanisms[80]. Corporate Governance - The company held one shareholders' meeting and five board meetings during the reporting period, ensuring compliance with governance regulations and protecting shareholder rights[84]. - The supervisory board consists of three members, including a staff representative, and has conducted three meetings to oversee financial and operational compliance[85]. - The company maintains a good communication mechanism with investors, enhancing transparency and trust, which supports its market image and investor confidence[85]. - The company actively implements internal control measures and has disclosed the Internal Control Evaluation Report as per regulations[86]. - The company disclosed 38 interim announcements and regular reports for the reporting period, ensuring timely and accurate information dissemination[87]. - The company plans to enhance its governance structure and risk control mechanisms in 2022 to improve operational standards[88]. - The company has established a strict insider information management system to protect investor rights and ensure fair information disclosure[86]. - The total remuneration for directors and senior management during the reporting period amounted to 7.15 million yuan[90]. - The company has maintained a consistent shareholding structure with no changes in the number of shares held by directors during the reporting period[90]. Financial Position - The company reported a total guarantee amount of RMB 10,458.16 million, which accounts for 3.46% of the company's net assets[137]. - The company provided guarantees for its subsidiaries totaling RMB 12,255.88 million during the reporting period, with a year-end balance of RMB 10,458.16 million[138]. - The company has no significant related party transactions or changes in related transactions during the reporting period[135]. - The company has not reported any significant internal control deficiencies during the reporting period[116]. - The company’s total liabilities to equity ratio improved to approximately 20.14% from 19.39% in the previous year, indicating a slight strengthening of the capital structure[184]. Community Engagement and Social Responsibility - The company actively participates in social responsibility initiatives, including disaster relief and educational support, and has established a charity fund to assist vulnerable groups[122]. - The company emphasizes employee welfare and has been recognized as a "Shanghai Harmonious Labor Relations Standard Enterprise" after passing re-evaluation in 2021[121]. - The company has engaged in various community support activities, including training programs and competitions to foster employee engagement and skills development[121].