SQTEG(SH:603339)2022-04-18 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,649,915,319.04, representing a 49.56% increase compared to CNY 1,103,203,106.18 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 168,767,513.78, a 58.55% increase from CNY 106,447,554.94 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.55, reflecting a 61.76% increase compared to CNY 0.34 in 2020[22]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 150,772,667.52, a 52.58% increase from CNY 98,816,113.05 in 2020[21]. - The net profit attributable to shareholders for Q4 2021 was CNY 37.96 million, with a total annual net profit of CNY 168.77 million[31]. - The total revenue for Q4 2021 was CNY 503.86 million, marking a steady increase throughout the year[31]. - The company achieved a main business revenue of ¥1,583,699,596.53, an increase of 47.66% compared to the previous year, driven by economic recovery and product innovation[51]. - The company reported a net cash flow from operating activities increase due to higher sales revenue and order volume, alongside rising steel prices impacting cash payments for goods and services[50]. - The company reported a significant increase in sales revenue from services, totaling approximately ¥1.74 billion in 2021, compared to ¥1.16 billion in 2020, representing a growth of about 50%[198]. Assets and Liabilities - The company's total assets as of the end of 2021 were CNY 2,825,009,016.59, a 13.86% increase from CNY 2,481,126,362.31 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,948,375,495.15, a 7.63% increase from CNY 1,810,283,529.43 at the end of 2020[21]. - Total assets at the end of the current period were 924,631,306.19, representing 32.73% of total assets, an increase of 67.87% from the previous period due to expanded sales scale[65]. - Total liabilities grew to ¥876,633,521.44 in 2021, up from ¥670,842,832.88 in 2020, indicating an increase of around 30.7%[184]. - Short-term borrowings increased to 144,117,740.00, accounting for 5.10% of total liabilities, reflecting a rise in short-term financing needs[65]. Research and Development - The company’s research and development expenses amounted to CNY 69,238,899.04, reflecting a 15.34% increase compared to the previous year[49]. - The company successfully developed B1 grade PIR polyurethane metal-faced sandwich panels for cold storage and vaccine storage through its subsidiary, Sifang Energy, and applied for 56 new patents while obtaining 60 new authorizations, totaling 245 valid patents by December 31, 2021[33]. - The company is focusing on technological innovation and product market positioning to build a differentiated competitive advantage[75]. - New product development for 2022 includes tunnel frying machines and new spiral freezing machines, focusing on market needs and customer customization[77]. Market Trends and Demand - The demand for freezing equipment is rapidly increasing due to the growing consumer preference for convenient and frozen food products, driven by lifestyle changes and rising living standards[35]. - The company is responding to market needs by launching various freezing devices, including spiral, tunnel, and plate freezing equipment, to meet the demands of the fast-developing food industry[36]. - The tank container industry is expected to grow due to its advantages in logistics for liquid and gaseous products, aligning with modern supply chain requirements[39]. - The company aims to expand its market presence in the frozen food sector and special container products, particularly in new materials and renewable energy sectors[76]. Risk Management - The company faced various risks including policy risks, international trade environment risks, and raw material price fluctuation risks, which were detailed in the report[8]. - The company recognizes risks such as policy changes, international trade environment, raw material price fluctuations, and product price competition that could impact operations[80][81]. - The company will implement measures to mitigate risks from raw material price volatility by enhancing supplier collaboration and material utilization[80]. - The company will strengthen its foreign exchange risk management due to reliance on USD for export transactions[81]. Governance and Compliance - The company is committed to improving its governance structure and ensuring compliance with relevant laws and regulations[84]. - The company emphasizes the importance of internal control and risk management to ensure effective operations and safeguard stakeholder interests[86]. - The internal control audit report issued by Tianjian Accounting Firm received a standard unqualified opinion, confirming the effectiveness of the internal control system[116]. - The company has maintained a strong governance structure, with no issues requiring rectification identified during self-inspection[116]. Employee Management - The company has a total of 1,403 employees, with 662 in the parent company and 741 in major subsidiaries[107]. - The employee composition includes 903 production personnel, 92 sales personnel, 184 technical personnel, and 28 financial personnel[108]. - The company has established a salary management system to align employee compensation with performance and company benefits[109]. - A total of 17 management personnel were promoted, and 19 technical personnel achieved skill level upgrades in 2021[110]. Environmental Responsibility - The company has invested in environmental protection facilities, including a wastewater treatment capacity of 100,000 m³/a, ensuring compliance with discharge standards[120]. - The company has implemented a new organic waste gas treatment device, achieving compliance with pollutant discharge standards during the reporting period[120]. - The company has actively promoted photovoltaic power generation projects, resulting in a reduction in solid waste disposal during the reporting period[126]. - The company has developed a comprehensive emergency response plan for environmental pollution incidents, ensuring efficient handling of potential emergencies[123].