Huada(SH:603358)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was CNY 4,716,577,077.85, representing a 14.10% increase compared to 2020[13]. - Net profit attributable to shareholders increased by 56.38% to CNY 358,326,122.26 in 2021[13]. - The net profit after deducting non-recurring gains and losses was CNY 295,617,047.27, up 38.10% year-on-year[13]. - Basic earnings per share rose to CNY 0.82, a 12.33% increase from the previous year[15]. - The weighted average return on equity increased by 3.94 percentage points to 12.36%[15]. - Total assets at the end of 2021 reached CNY 5,650,513,811.06, an 11.22% increase from 2020[13]. - The company's net assets attributable to shareholders increased by 8.02% to CNY 3,010,884,902.80[13]. - The company's main business revenue reached ¥4,520,138,237.23, with a year-on-year increase of 13.70%[47]. - The gross profit margin for the main business improved by 0.47 percentage points to 14.92%[47]. - The total cost of sales was ¥3,845,637,487.88, representing a 13.07% increase compared to the previous year[52]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 3 RMB per 10 shares, totaling 131,712,000 RMB, which accounts for 36.76% of the net profit attributable to shareholders for 2021[3]. - The total unallocated profit retained for future distribution is 756,702,455.74 RMB[3]. - The net cash flow from operating activities decreased by 38.12% to CNY 337,264,556.08 due to extended payment settlement cycles[16]. - The operating cash flow net amount decreased by 38.12% to 337 million RMB due to extended payment cycles[44]. - The company has committed to a cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring clarity and completeness in decision-making processes[124]. Research and Development - The company invested 168.93 million yuan in R&D, accounting for 3.58% of its revenue, and developed 1,078 new products[24]. - The company has invested in R&D, with R&D expenses increasing by 6.84% to 169 million RMB in 2021[44]. - The total R&D expenditure for the period was CNY 168,928,104.53, accounting for 3.58% of the operating revenue[56]. - The company employed 155 R&D personnel, representing 6.2% of the total workforce[56]. - The company applied for 15 patents and received 11 patent grants, including 1 invention patent, bringing its total patents to 134[24]. Market Position and Strategy - The company established partnerships with key clients such as Tesla and Great Wall Motors, enhancing its market position[25]. - The company aims to cultivate several automotive parts suppliers with international competitiveness, targeting a scale of over 100 billion yuan[34]. - The automotive parts industry in China is projected to exceed 5.5 trillion RMB in main business revenue by 2026[37]. - The company has established stable partnerships with major domestic automakers, including SAIC Volkswagen and Dongfeng Honda, enhancing its core competitiveness[39]. - The company is focused on expanding its supplier network to ensure mutual benefits and optimize collaboration[89]. Governance and Management - The company has maintained a standard unqualified audit opinion from Zhongxinghua Accounting Firm[3]. - The governance structure of the company aligns with modern enterprise systems and regulatory requirements[94]. - The company’s board of directors and management team have undergone changes, with specific shareholding adjustments noted for key personnel[96][98]. - The company emphasizes the importance of talent development to support technological innovation and enhance competitive advantages[89]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 7.667 million yuan[107]. Risks and Compliance - The company reported no significant risks that could materially affect its operations during the reporting period[4]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[4]. - The company has not violated any decision-making procedures for providing guarantees[4]. - The company has detailed its potential risks and countermeasures in the management discussion and analysis section of the report[4]. - The company has not reported any significant litigation or arbitration matters during the reporting period[149]. Social Responsibility - The company has actively engaged in social responsibility initiatives, including annual donations of 100,000 yuan to local charities and support for poverty alleviation projects[136]. - The company has actively participated in local government initiatives to promote rural revitalization and poverty alleviation[136]. Inventory and Assets - As of December 31, 2021, the company's inventory balance was CNY 1,447.90 million, with a provision for inventory impairment of CNY 99.74 million[200]. - The fair market value of various properties owned by the company, such as the Huada Hotel, was reported at 1,100,000 thousand RMB[155]. - The company has engaged in cash asset management, with a total of 47,500 thousand RMB invested in bank financial products, with no overdue amounts[164]. Financial Management - The company has established a comprehensive internal control system that meets the requirements of the China Securities Regulatory Commission, effectively preventing major operational risks[128]. - The company has not reported any significant deficiencies in its internal control during the reporting period[129]. - The company has implemented a performance evaluation mechanism for senior management based on operational goals and performance, enhancing the incentive effect of evaluations[127]. - The company has adopted a multi-responsibility and performance-based compensation mechanism to enhance employee productivity[126].