HJT(SH:603577)2022-03-24 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,498,434,839.61, representing a year-on-year increase of 28.98% compared to CNY 1,937,063,005.45 in 2020[24]. - The net profit attributable to shareholders of the listed company decreased by 37.49% to CNY 66,243,345.34 in 2021 from CNY 105,966,944.26 in 2020[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 53,370,946.21, down 49.47% from CNY 105,615,924.52 in the previous year[24]. - The net cash flow from operating activities was negative CNY 312,960,732.03, compared to negative CNY 64,378,138.23 in 2020, indicating a significant decline in cash flow[24]. - The basic earnings per share for 2021 was CNY 0.2201, down 40.13% from CNY 0.3676 in 2020[26]. - The company's gross profit margin decreased due to a 35.57% increase in operating costs, which outpaced the revenue growth[35]. - The company's total revenue for 2021 was CNY 2,498.43 million, representing a year-on-year increase of 28.98%[35]. - The weighted average return on equity decreased to 4.49%, down 3.77 percentage points from the previous year[35]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares, totaling CNY 20,348,346.00, which accounts for 30.72% of the net profit attributable to shareholders for 2021[7]. - The company has a cash dividend policy that ensures at least 30% of the annual net profit attributable to shareholders is distributed as dividends[147]. - For the fiscal year 2021, the proposed cash dividend is 20,348,346.00 CNY, representing 30.72% of the net profit attributable to shareholders[149]. Market and Product Development - The company is focused on expanding its market presence and developing new technologies in the power equipment sector[8]. - The company plans to expand into new markets such as 5G communications and photovoltaic sectors, supported by its existing technology and brand resources[36]. - The company is positioned to benefit from the anticipated construction boom in high-voltage transmission projects, with a planned investment of 380 billion yuan during the 14th Five-Year Plan[47]. - The company is advancing its digital transformation through an intelligent manufacturing management platform, enabling real-time monitoring and data collection during production processes[37]. - The company is focusing on digital transformation by implementing PDM and MES systems to improve operational efficiency and reduce costs[106]. Research and Development - The company obtained 21 authorized utility model patents during the reporting period, emphasizing its commitment to innovation[36]. - The company’s research and development expenses increased by 19.10% to CNY 82.99 million, indicating a focus on innovation[72]. - The total R&D expenditure was ¥82,985,724.21, representing 3.32% of total revenue, indicating a commitment to innovation[85]. - The company plans to increase investment in R&D to enhance product technology and market competitiveness, particularly in welding and new process research[107]. Environmental and Sustainability Efforts - The company has implemented measures to manage air pollutants, adhering to the GB16297-1996 standards for comprehensive emission of air pollutants[158]. - The company has established a comprehensive environmental management system and conducted an audit in January 2022, valid until January 28, 2025[167]. - The company has invested in advanced pollution control technologies to minimize the environmental impact of its operations[163]. - The company is committed to environmental sustainability by ensuring that all production wastewater is treated and reused within the facility[165]. Corporate Governance - The audit report issued by Zhongtianyun Accounting Firm was a standard unqualified opinion, ensuring the accuracy of the financial report[6]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards[114]. - The company has established a comprehensive internal control system to enhance risk management and ensure sustainable development[115]. - The company has maintained effective internal controls in all significant aspects, as confirmed by the internal control audit report[116]. Strategic Acquisitions and Partnerships - The acquisition of Chongqing Jiangdian is underway, with plans for deep integration to enhance operational management and resource sharing[112]. - The company has completed two strategic acquisitions in the past year, enhancing its product portfolio and operational capabilities[127]. - The company has established a management agreement with Chongqing Jiangdian, with a management fee of 300 million RMB per year[200]. Financial Stability and Risks - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[192]. - The company has not faced any penalties from securities regulatory authorities in the past three years[130]. - The company faces significant market competition risks due to potential slowdowns in domestic grid investment and increasing international competition[109]. - Raw material prices, particularly steel and zinc, significantly impact production costs, with high prices during the reporting period affecting performance[109]. Employee and Management Structure - The company employed a total of 1,788 staff, with 1,478 in the parent company and 310 in major subsidiaries[143]. - The management team includes individuals with significant experience in both operational and financial roles, contributing to effective governance and oversight[122]. - The total pre-tax compensation for all listed directors, supervisors, and senior management amounted to 548.02 million yuan for the reporting period[121]. Future Outlook - The company aims to achieve a revenue target of 3.5 billion yuan and a product output of 400,000 tons for 2022[105]. - Future guidance indicates an expected EBITDA margin of 20% for the upcoming year, up from 18%[186]. - The company has set a target to reduce operational costs by 10% through efficiency improvements in the supply chain[185].