WXHS(SH:603090)2022-03-30 16:00Financial Performance - The company's operating revenue for 2021 was CNY 559,323,180.01, representing a 72.02% increase compared to CNY 325,149,347.38 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 14,664,978.91, a 124.16% increase from CNY 6,542,159.28 in 2020[19]. - The net profit after deducting non-recurring gains and losses was CNY 7,881,092.23, up 73.84% from CNY 4,533,409.06 in 2020[19]. - The company's basic earnings per share increased by 114.29% to CNY 0.15 in 2021 compared to CNY 0.07 in 2020[20]. - Operating profit reached CNY 12.32 million, up 26.54% year-on-year, while net profit was CNY 14.70 million, reflecting an 84.00% increase[40]. - The company reported a net profit attributable to shareholders of CNY 8,359,319.94 in Q3 2021, but a loss of CNY -1,430,242.99 in Q4 2021[21]. - The company reported a net profit of CNY 166,517,721.26, compared to CNY 151,852,742.35 in 2020, indicating an increase of 9.7%[185]. - The total comprehensive income for 2021 was RMB 14,687,261.21, compared to RMB 7,990,431.15 in 2020, showing a strong performance[190]. Assets and Liabilities - The total assets at the end of 2021 were CNY 768,665,508.41, a 10.11% increase from CNY 698,100,946.40 at the end of 2020[19]. - The total liabilities rose to CNY 241,326,303.07, up from CNY 188,978,262.66, reflecting an increase of 27.7%[185]. - The company's total net assets were CNY 527.34 million, a year-on-year increase of 3.58%[40]. - Current assets totaled CNY 460,267,742.87, an increase of 21.8% from CNY 377,834,006.07 in 2020[184]. - Cash and cash equivalents decreased to CNY 94,963,738.23 from CNY 122,487,491.86, a decline of 22.4%[184]. - Accounts receivable rose to CNY 195,005,809.46, up 23.0% from CNY 158,558,750.88 in the previous year[184]. - Inventory increased significantly to CNY 119,852,253.72, compared to CNY 83,734,264.34, marking a growth of 43.1%[184]. Cash Flow - The cash flow from operating activities for 2021 was negative at CNY -52,751,925.30, a decrease of 213.27% compared to CNY 46,570,097.19 in 2020[19]. - The net cash flow from operating activities decreased by 213.27%, resulting in a cash outflow of 52,751,925.30 yuan due to increased working capital[55]. - The net cash flow from financing activities was 17,973,573.60 CNY, recovering from -61,161,436.12 CNY in the previous year[196]. - The ending cash and cash equivalents balance decreased to 69,663,738.23 CNY from 114,951,491.86 CNY, a decline of approximately 39.3%[197]. Business Operations - The core business of heat exchangers achieved revenue exceeding CNY 500 million, representing a 63% year-on-year growth[24]. - The main business revenue from heat exchangers was CNY 502.65 million, with a gross margin decrease of 7.43 percentage points to 18.25%[44]. - The cost of main business increased to CNY 458.38 million, a rise of 86.56% year-on-year, primarily due to a 33% increase in aluminum prices[42]. - The production volume of heat exchangers was 10,382.74 tons, with sales volume at 9,867.35 tons, reflecting a production increase of 65.47%[45]. Research and Development - Research and development expenses amounted to 24,756,014.89 yuan, representing 4.43% of total operating revenue[53]. - The company is investing in new product development, including systems for wind power gear lubrication, multi-layer cooling systems for agricultural machinery, and cooling systems for energy storage and new energy vehicles[74]. - The company has filed for 7 utility model patents and 1 software copyright during the reporting period[25]. Governance and Compliance - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm[4]. - The company held 10 supervisory board meetings during the reporting period, all attended by the supervisors, ensuring compliance with relevant regulations[81]. - The company has implemented measures to manage insider information and ensure confidentiality obligations are met[81]. - The company has not faced significant differences in governance compared to regulatory requirements[81]. - The company has established specialized committees under the board, including the audit committee, nomination committee, compensation and assessment committee, and strategic committee[99]. Future Outlook - In 2022, the company plans to achieve a revenue target of 550 million yuan and a net profit of 40 million yuan, focusing on cost reduction and efficiency improvement strategies[74]. - The company aims to generate 30 million yuan in revenue from its new lithium battery PACK business in 2022, leveraging customer resource advantages[75]. - The company provided a positive outlook for 2022, projecting a revenue growth of 25% based on new product launches and market expansion strategies[103]. Shareholder Information - The total number of shares held by the chairman and general manager, Niu Faqing, decreased by 1,160,900 shares due to funding needs, resulting in a year-end holding of 3,482,800 shares[87]. - The largest shareholder, Niu Yuxia, holds 54,675,000 shares, representing 54.68% of the total shares[161]. - The total number of ordinary shareholders was 8,569, down from 9,100 at the end of the previous month[159]. Environmental and Social Responsibility - The company monitors environmental emissions, reporting particulate matter emissions of 0.118 tons per year and VOCs emissions of 0.1669 tons per year[120]. - The company donated ¥60,000 to the Wuxi Binhu District Charity Foundation to support various charitable projects, focusing on assisting rural and urban impoverished households with medical care, education, and basic living needs[123].