KN(SH:603111)2022-04-29 16:00Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was CNY 370,396,645.41, with accumulated undistributed profits amounting to CNY -1,131,550,113.34[6] - The company will not distribute cash dividends or stock dividends for 2021 due to negative accumulated undistributed profits[6] - In 2021, the company achieved operating revenue of CNY 3,525,220,662.26, an increase of 6% compared to 2020[23] - The net profit attributable to shareholders was CNY 370,396,645.41, a decrease of 13.16% from the previous year, primarily due to a provision for investor compensation losses of CNY 65,991,000[25] - The net cash flow from operating activities was CNY 474,093,671.61, down 19.14% year-on-year, attributed to increased cash outflows for purchasing goods and services[25] - The company's total assets at the end of 2021 were CNY 5,837,241,809.35, reflecting a 7.81% increase from the end of 2020[23] - The weighted average return on equity decreased to 11.75% in 2021, down 3.73 percentage points from 2020[24] - The basic earnings per share for 2021 was CNY 0.37, a decrease of 13.95% compared to 2020[24] - The company reported a net asset attributable to shareholders of CNY 3,338,630,126.60 at the end of 2021, an increase of 12.47% from the previous year[23] Revenue Breakdown - Revenue from the rail transit main business was CNY 265,270,060.00, a decrease of 5.4% year-on-year, due to project delays caused by the pandemic[25] - Revenue from new energy vehicle components increased by 129.45% to CNY 21,265,120.00, driven by growth in the new energy vehicle industry[25] - The company's operating revenue for the rail transit main business in 2021 was CNY 2.653 billion, a decrease of CNY 152 million or 5.43% compared to the previous year[35] - The sales revenue from the new energy vehicle parts business increased by CNY 213 million compared to 2020[35] Legal and Compliance Issues - As of April 29, 2022, the Nanjing Intermediate People's Court has accepted 8 claims from investors against the company, with a provision for estimated liabilities recognized at CNY 65,991,000[5] - The company has not confirmed any performance compensation income from Longxin Technology due to unmet performance targets as of December 31, 2019[5] - The company is involved in significant litigation, including a case against 20 former shareholders of Longxin Technology for breaching the "Agreement on Issuing Shares and Paying Cash to Purchase Assets" and seeking compensation[156] - The Jiangsu High Court upheld the lower court's decision to dismiss the company's lawsuit against the defendants due to the case being classified as involving economic crime, not a general economic dispute[156] - The company has been under investigation by the China Securities Regulatory Commission since August 22, 2018, and received an administrative penalty notice on May 12, 2020[157] - The company received a penalty of 300,000 RMB from the China Securities Regulatory Commission for violations of the Securities Law[158] Corporate Governance - The company has established a sound corporate governance structure and internal control system, ensuring compliance with relevant laws and regulations[98] - The annual shareholders' meeting on May 14, 2021, approved all eight ordinary resolutions with over 50% of voting rights present[99] - The total remuneration for directors and senior management during the reporting period amounted to CNY 2,216.14 million, with a decrease of CNY 41.88 million compared to the previous year[101] - The company has implemented measures to enhance the management of insider information and strengthen information disclosure practices[98] - The company’s board of directors has not raised any objections to company matters during the reporting period[114] Research and Development - Research and development expenses rose by 11.29% to 285 million RMB, reflecting the company's commitment to innovation[51] - The number of R&D personnel was 677, accounting for 20.90% of the total workforce[63] - The company has established a technology center for independent research and development, focusing on key technologies and market trends in the rail transit door systems and other main products[42] - The company has developed innovative technologies, including the "variable lead drive and locking" system for automatic doors, which has received national and international patents[45] Market Expansion and Strategy - The company actively expanded its market presence, establishing operations in Zhengzhou and setting up branches in Wuhan, Jinan, and Guiyang[39] - The company aims to focus on the core business of rail transit products and the growth business of new energy vehicle components, with a strategic positioning of a "smart transportation equipment platform" centered on electromechanical technology[84] - The company is committed to maintaining the integrity of its financial practices and ensuring compliance with legal obligations regarding investor compensation[151] Environmental Responsibility - The company has completed an environmental impact assessment for the 2021 bracket assembly robot project, which is currently in progress[135] - The company has reduced the use of VOCs cleaning agents by approximately 50% through process improvements[140] - The company has established an environmental protection management responsibility system, ensuring accountability at all levels[139] - The company has made significant investments in environmental protection, ensuring compliance with environmental management needs[139] Shareholder Information - The total number of ordinary shareholders increased to 28,199 by the end of the reporting period, up from 26,532 in the previous month[179] - The top ten shareholders hold a total of 85,094,595 shares, representing 8.57% of the total shares[181] - The largest shareholder, Nanjing Engineering Institute Asset Management Co., Ltd., holds 85,094,595 shares, with no restrictions on sale[181] - The company has a diversified shareholding structure with no controlling shareholder, with major shareholders being asset management companies holding over 5%[184] Financial Management - The company has entrusted cash asset management with a total of 1,590,000,000.00 RMB in bank wealth management products[166] - The company has consistently recovered principal and interest from all financial investments, indicating effective management of financial assets[168] - The company plans to continue engaging in entrusted financial management in the future, reflecting a strategy for capital growth[168]