KE Electric(SH:603050)2022-06-13 16:00Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of RMB 88,612,764.37, with the parent company net profit at RMB 42,562,644.01[6]. - The company's operating revenue for 2021 was approximately ¥2.04 billion, representing a year-over-year increase of 16.31% compared to ¥1.75 billion in 2020[23]. - The net profit attributable to shareholders decreased by 19.67% to approximately ¥88.61 million in 2021 from ¥110.31 million in 2020[23]. - The basic earnings per share (EPS) fell by 19.12% to ¥0.55 in 2021, down from ¥0.68 in 2020[24]. - The weighted average return on equity (ROE) decreased to 7.14% in 2021, down 2.34 percentage points from 9.48% in 2020[24]. - The net cash flow from operating activities showed a significant decline of 908.78%, resulting in a net outflow of approximately ¥155.06 million in 2021 compared to an inflow of ¥19.17 million in 2020[23]. - Total assets increased by 26.75% to approximately ¥3.80 billion at the end of 2021, compared to ¥2.99 billion at the end of 2020[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses dropped by 80.79% to approximately ¥19.20 million in 2021 from ¥99.97 million in 2020[23]. - The company achieved operating revenue of ¥2,039,207,683.10, representing a 16% increase compared to the same period last year[35]. - The net profit attributable to shareholders decreased by approximately 20% to ¥88,612,764.37 compared to the previous year[35]. Dividend Distribution - The total distributable profit for the parent company as of December 31, 2021, was RMB 249,032,217.86[6]. - The company plans to distribute a cash dividend of RMB 2 per 10 shares, totaling RMB 32,442,020, with no stock dividends or capital reserve transfers planned[6]. - The company has not adjusted its profit distribution policy during the reporting period[122]. - The company has established a complete decision-making process for its cash dividend policy, ensuring the protection of minority shareholders' rights[124]. - The company has implemented a stock incentive plan, granting 2,257,500 restricted shares at a price of RMB 8.27 per share[125]. Risks and Challenges - The company faces risks related to reliance on power industry investments, intensified market competition, continuous product and technology innovation, raw material price fluctuations, and declining gross margins[8]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[7]. - The company is at risk of intensified market competition as the smart grid construction in China accelerates, potentially affecting its market position[93]. - The company is addressing the challenges posed by the ongoing COVID-19 pandemic, which affects procurement, production, and logistics[94]. Research and Development - Research and development expenses rose by 26.35% to ¥116,916,116.54, reflecting the company's commitment to innovation in the smart grid sector[49]. - The company maintains a high ratio of professional R&D personnel, focusing on new technologies and products in the smart grid field[44]. - The number of R&D personnel reached 904, representing 41.77% of the total workforce, indicating a strong focus on innovation[65]. - The company achieved a total of 38 patent authorizations during the reporting period, including 24 invention patents, 4 utility model patents, and 10 design patents[67]. Market Position and Strategy - The company is positioned to capitalize on the distributed photovoltaic market, which is projected to be worth nearly ¥1 trillion[39]. - The company is advancing hydrogen energy storage technology projects, laying a foundation for future market engagement in renewable energy[36]. - The company is focusing on the construction of a new power system dominated by renewable energy, as emphasized in national policies[82]. - The company plans to enhance the digitalization and intelligence of the power grid, with a goal to fully establish a digital grid by 2025[83]. - The company aims to create new business models around renewable energy investments and smart operations, tapping into the trillion-level market for distributed solar energy[90]. Governance and Compliance - The company has implemented a robust governance structure to ensure compliance with legal and regulatory requirements[97]. - The company held one shareholders' meeting in 2021, ensuring all procedures complied with relevant laws and regulations[100]. - The company has not faced any penalties from securities regulatory authorities in the past three years[107]. - The company has established measures to protect the rights and interests of all shareholders[143]. Financial Management - The company has a strong focus on financial management, with CFO Dong Caihong overseeing the financial center and human resources department[103]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 6.4977 million yuan[106]. - The company has established a performance-oriented compensation system to align individual and organizational interests[92]. Shareholding Structure - The total number of shares held by Chairman Zhang Chengsuo remained unchanged at 17,951,894 shares, with a pre-tax compensation of 857,800 CNY[102]. - The total number of ordinary shareholders increased to 24,043 by the end of the reporting period[167]. - The company does not have a controlling shareholder, and the actual control is held by a group of five individuals who signed a joint action agreement[173]. - The joint action agreement among the five major shareholders is set to expire on April 14, 2022, after which the control structure may change[176]. Audit and Internal Control - The company received a standard unqualified audit report from Zhongxinghua Accounting Firm[5]. - The internal control audit report received a standard unqualified opinion[131]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2021[183]. - The company has not faced any risks of delisting during the reporting period[150].