JZNEE(SH:603507)2022-04-21 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,424,659,107.94, representing a 25.54% increase compared to CNY 1,931,352,189.04 in 2020[22]. - Net profit attributable to shareholders reached CNY 179,246,026.89, a significant increase of 166.15% from CNY 67,348,724.59 in the previous year[22]. - Basic earnings per share (EPS) for 2021 was CNY 1.44, up 164.81% from CNY 0.54 in 2020[23]. - The company's total assets increased by 36.20% to CNY 4,868,863,754.33 at the end of 2021, compared to CNY 3,574,669,521.70 at the end of 2020[22]. - The weighted average return on equity (ROE) improved to 11.76%, an increase of 6.99 percentage points from 4.77% in 2020[23]. - The net cash flow from operating activities was CNY 356,708,750.61, a decrease of 9.77% from CNY 395,328,839.11 in 2020[22]. - The company's net assets attributable to shareholders increased by 12.93% to CNY 1,616,342,682.08 at the end of 2021, compared to CNY 1,431,227,550.37 at the end of 2020[22]. - The company's revenue for the reporting period reached ¥2,424,659,107.94, representing a 25.54% increase compared to ¥1,931,352,189.04 in the same period last year[58]. - The company's operating costs increased by 20.94%, amounting to ¥1,877,907,479.71, up from ¥1,552,738,232.09 in the previous year[58]. Dividend Distribution - The company plans to distribute a cash dividend of 2.90 CNY per 10 shares, totaling 36,431,056.86 CNY based on a total share base of 125,624,334 shares after deducting repurchased shares[5]. - The company does not plan to increase capital reserves or issue bonus shares in this profit distribution[5]. - The company implements a stable profit distribution policy, ensuring that cash dividends account for at least 20% of the distributable profits in profitable years[135]. - In mature stages without significant capital expenditure, cash dividends should constitute at least 80% of the profit distribution; if there are major expenditures, this minimum drops to 40%[136]. - The company prioritizes cash dividends over stock dividends, ensuring that any stock dividends do not dilute shareholder value excessively[136]. - The company has a clear and transparent cash dividend policy that aligns with shareholder interests and long-term benefits[138]. Audit and Compliance - The company has received a standard unqualified audit report from DaHua Certified Public Accountants[4]. - The board of directors and supervisory board confirm the authenticity, accuracy, and completeness of the annual report[11]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report[9]. - The company has established a comprehensive governance structure and internal control system in compliance with relevant laws and regulations[144]. - The internal control system has been audited by Da Hua Accounting Firm, receiving a standard unqualified opinion[143]. - The company has disclosed the fund occupation situation in its 2020 annual report and has taken corrective actions as required by the Jiangsu Securities Regulatory Bureau[181]. Operational Strategy - The company has outlined its future plans and development strategies, but these do not constitute substantive commitments to investors[6]. - The company has a robust order backlog of 1.856 billion yuan as of the end of the reporting period, including 1.535 billion yuan in wind power equipment orders and 53 million yuan in photovoltaic equipment orders[34]. - The company is strategically positioned to leverage national initiatives such as the "Belt and Road" and "dual carbon" goals, focusing on high-quality development[33]. - The company is focusing on transitioning from low-end to mid-to-high-end fastener products to meet market demand[41]. - The company is actively pursuing refinancing options to strengthen its capital structure and reduce financial risks[95]. Research and Development - The company plans to increase R&D in core technologies for automotive key components and wind power photovoltaic fasteners, aiming to enhance product structure and market share[42]. - Research and development expenses increased to 803.72 million RMB, a rise of 13.97% year-on-year, driven by new product development[59]. - The number of R&D personnel is 123, making up 4.86% of the total workforce[70]. - The company has a total of 225 valid patent authorizations as of December 31, 2021, showcasing its strong technological capabilities[52]. Market Position and Growth - The global wind power market is experiencing rapid growth, with significant demand for the company's wind power equipment components, such as nacelle covers and rotor rooms[36]. - The renewable energy sector, particularly solar energy, presents substantial growth potential, with solar energy reserves being 2850 times the current global energy demand[37]. - The company is focusing on the development of offshore wind power technology, which is expected to drive growth in the wind power industry[89]. - The global photovoltaic market saw an increase of 54.88 GW in new installed capacity in China in 2021, with a total cumulative capacity of 305.987 GW by the end of the year[90]. Corporate Governance - The board of directors consists of 5 members, including 2 independent directors, complying with the requirements of the guidelines for independent director systems[102]. - The supervisory board has 3 members, including 1 employee supervisor, meeting the legal requirements[102]. - The company maintains independence in assets, personnel, finance, institutions, and business, with no issues affecting its independence or operational capability[103]. - The company has established specialized committees under the board, including a strategy committee, compensation and assessment committee, nomination committee, and audit committee, to enhance governance[102]. - The company has implemented a stock incentive plan, with the second phase approved during the reporting period[104]. Social Responsibility and Community Engagement - The company has been recognized as a "Green Enterprise" by the Jiangsu Provincial Ecological and Environmental Department and as an "Environmental Demonstration Enterprise" by the Wuxi Ecological Environment Bureau[145]. - The company participates in community charity events annually, enhancing its social image and gaining public support[149]. - The company emphasizes the importance of high-quality service as a core value, aiming to enhance customer satisfaction and loyalty[93]. Legal and Regulatory Issues - The company is involved in a significant lawsuit regarding an insurance contract dispute, which has been accepted by the Shanghai Maritime Court[177]. - The actual controller of the company, Hu Zhen, occupied company funds amounting to CNY 31.5 million from 2018 to 2020, which has been fully repaid along with interest by April 27, 2021[179]. - The company has received a public reprimand from the Shanghai Stock Exchange on October 15, 2021, regarding fund occupation issues involving the company and its key executives[118].