CHINT ELECTRICS(SH:601877)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was CNY 38.86 billion, an increase of 16.88% compared to CNY 33.25 billion in 2020[16]. - The net profit attributable to shareholders for 2021 was CNY 3.40 billion, a decrease of 47.09% from CNY 6.43 billion in 2020[16]. - The net cash flow from operating activities increased by 47.49% to CNY 7.09 billion in 2021, compared to CNY 4.81 billion in 2020[16]. - The total assets at the end of 2021 were CNY 85.45 billion, reflecting a 23.36% increase from CNY 69.27 billion at the end of 2020[16]. - The basic earnings per share for 2021 were CNY 1.58, down 47.16% from CNY 2.99 in 2020[18]. - The weighted average return on equity for 2021 was 10.90%, a decrease of 13.08 percentage points from 23.98% in 2020[18]. - The company achieved operating revenue of 38.87 billion RMB, a year-on-year increase of 16.88%[53]. - Net profit for the period was 3.77 billion RMB, a decrease of 43.25% compared to the previous year[53]. - The company’s total assets reached 85.45 billion RMB, reflecting a year-on-year growth of 23.36%[53]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 4 RMB per 10 shares to all shareholders, pending approval at the 2021 annual general meeting[3]. - The company reported a user base of 81,100, indicating a stable customer retention rate[108]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to CNY 15.3464 million[111]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[2]. - The company’s legal representative is Nan Cunhui, and the financial report is guaranteed to be true, accurate, and complete by the accounting personnel[2]. - The board of directors and supervisory board members were present at the board meeting to ensure the report's integrity[2]. - The company has not violated any decision-making procedures regarding external guarantees[4]. - The company adheres to strict governance practices, ensuring independence from its controlling shareholders and maintaining compliance with relevant regulations[104]. Research and Development - The company invested CNY 1.125 billion in R&D during the reporting period, a year-on-year increase of 9.33%, with a cumulative investment of nearly CNY 3.134 billion over three years[35]. - Research and development expenses increased by 9.32% to 1.13 billion RMB, emphasizing the company's commitment to innovation[55]. - The company is investing heavily in R&D for new technologies, with a budget allocation of 10% of total revenue towards innovation[109]. Environmental Compliance - The company achieved compliance in wastewater discharge with a CODcr value of 41 mg/L, well below the standard limit of 500 mg/L[136]. - The company’s air emissions for non-methane total hydrocarbons from various processes are within regulatory limits, with the highest concentration recorded at 52.6 mg/m³[140]. - The company has implemented a third-party testing system for emissions, ensuring adherence to environmental standards[135]. - The company achieved compliance with the emission standards for various pollutants, including non-methane total hydrocarbons at 1.360 mg/m³ (standard 120 mg/m³)[151]. - The company has maintained a record of no environmental pollution incidents across its subsidiaries[164]. Market Expansion and Strategy - The company plans to expand its market presence in countries such as Bulgaria, South Korea, and the Philippines, with ongoing development of overseas photovoltaic power station projects[80]. - The company aims to enhance its market share in low-voltage electrical appliances and household photovoltaic sectors while accelerating the divestment of low-margin businesses[96]. - The company plans to implement a digital transformation strategy, focusing on user-centered business digital platforms and the integration of AI and IoT technologies[97]. - The company intends to expand its international presence through the "Blue Ocean Plan," enhancing overseas business platforms and increasing market penetration in RCEP regions[98]. Operational Highlights - The company has established 7 new national subsidiaries, bringing the total to over 30 localized companies globally[32]. - The company added over 5,000 new customers and converted more than 1,300 distributors during the reporting period[29]. - The company has developed a comprehensive operation and maintenance (O&M) capability covering over 80 cities, with more than 1,500 O&M engineers and 400+ offline service points[47]. - The company has completed photovoltaic asset transactions involving 0.98 GW, with a transaction amount exceeding 3.8 billion CNY, effectively optimizing asset structure[46]. Financial Transactions and Related Party Deals - The company generated rental income of RMB 724.67 million from leasing properties to its parent company during the reporting period[196]. - The total rental income from various related parties amounted to RMB 1,200.00 million, with specific contributions from multiple subsidiaries[196]. - The company’s financial transactions with related parties are compliant with regulations, ensuring transparency in financial dealings[195]. Employee and Management Practices - The company has established a comprehensive training management system to enhance employee skills and leadership capabilities[124]. - The company has a performance-based compensation policy aimed at attracting and retaining talent aligned with future development needs[123]. - The company reported a total of 30,391 employees, with 15,418 in the parent company and 14,973 in major subsidiaries[121]. Sustainability and Carbon Reduction - The management team has emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[109]. - The company reduced carbon dust emissions by 220.77 thousand tons, CO2 emissions by 642.93 thousand tons, SO2 emissions by 24.35 thousand tons, and NOx emissions by 12.17 thousand tons during the reporting period[179]. - The company implemented a household power station development model with an investment cost of approximately 70,000 yuan per household, expecting an annual power generation of 25,000 kWh and an annual electricity revenue of about 10,000 yuan[181].