Clenergy(SH:603628)2022-04-29 16:00Financial Performance - In 2021, the company's operating revenue reached ¥1,017,982,061.36, an increase of 13.05% compared to ¥900,474,452.36 in 2020[21]. - The net profit attributable to shareholders was ¥47,369,658.28, a decrease of 30.77% from ¥68,425,164.33 in the previous year[21]. - The net cash flow from operating activities was ¥64,302,629.04, down 81.07% from ¥339,669,082.03 in 2020[21]. - The company's total assets increased by 3.25% to ¥2,053,758,235.69 at the end of 2021, compared to ¥1,989,167,256.44 at the end of 2020[21]. - The company's net assets attributable to shareholders increased by 4.02% to ¥992,350,242.11 at the end of 2021, compared to ¥954,015,024.24 at the end of 2020[21]. - The company reported a basic earnings per share of ¥0.17, down 32.00% from ¥0.25 in 2020[21]. - The weighted average return on equity decreased to 4.87%, down 2.52 percentage points from 7.39% in 2020[21]. - The company's operating profit from the photovoltaic power stations was 2,573.19 million RMB, with a cash flow of 4,988.58 million RMB[111]. - The total revenue for the photovoltaic industry reached CNY 6,563,011.43, representing a significant increase of 271.83% compared to the previous year[85]. Research and Development - The company invested CNY 11,308,600 in R&D, leading to increased costs and a decrease in profit margins due to rising raw material prices[32]. - The company’s R&D expenses in 2021 amounted to 21.90 million yuan, a year-on-year increase of 106.73%[40]. - Research and development expenses surged by 106.73% to ¥21,904,058.74, attributed to an increase in R&D projects and personnel costs[72]. - The company has increased its R&D personnel to 72, representing 14.17% of the total workforce, with a focus on enhancing innovation capabilities[94]. - The company is committed to increasing R&D investment, particularly in smart energy systems, to enhance its product offerings[133]. Market and Product Development - The company is focused on enabling carbon neutrality and expanding its photovoltaic solutions[1]. - The company’s new product, the EZ-Tracker intelligent solar tracking system, is expected to improve energy generation efficiency by 13-20% compared to traditional fixed systems[33]. - The company has established strategic partnerships with domestic EPC firms for distributed solar brackets, enhancing its competitive position in the domestic market[36]. - The company is focusing on localizing production and supply chains to mitigate the impacts of global supply chain disruptions caused by the pandemic[32]. - The company has ongoing clean energy investment projects, with 18MW of photovoltaic power stations under construction, expected to be delivered and transferred in the second half of 2022[37]. Corporate Governance - The company has a complete internal control system that spans all levels and aspects of management, continuously improving governance standards to achieve operational goals[156]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring that the compensation system includes a basic annual salary and year-end performance assessment[152]. - The board of directors consists of 7 members, including 3 independent directors, exceeding the requirement of having independent directors account for more than one-third of the total[150]. - The company has implemented measures to ensure the independence of its financial operations, including separate bank accounts and independent financial decision-making[156]. - The company has held multiple shareholder meetings in 2021, with resolutions passed on significant matters, ensuring shareholder participation and transparency[159]. Profit Distribution - The company plans to distribute profits of CNY 0.35 per 10 shares, totaling CNY 9,583,000 for the year 2021[5]. - The proposed cash dividend for 2021 is set at 0.35 yuan per share, totaling 9,583,000 yuan, pending shareholder approval[199]. - The company distributed a total of 13,690,000 yuan in cash dividends for the fiscal year 2020, at a rate of 0.5 yuan per share[199]. - The company has a profit distribution policy that prioritizes cash dividends, aiming for at least 20% of distributable profits if there are no major investment plans[196]. - The company's retained earnings are primarily used for business operations, external investments, and asset acquisitions[199]. Risk Management - The company faces risks from policy changes, particularly in key markets like Australia and Japan, which could adversely affect future performance due to increased competition and changing subsidy structures[138]. - Raw material costs, which account for over 70% of product prices, have been volatile due to global events, impacting profit margins if not managed properly[139]. - The ongoing COVID-19 pandemic continues to pose risks to project development and construction timelines, potentially impacting the company's business operations[145]. - The company has not encountered significant changes in competitive conditions that would affect its operations, maintaining a stable business environment[157]. International Operations - The company is expanding its overseas operations but faces risks related to varying legal and operational environments in different countries[144]. - The company generated significant revenue from Australia, Japan, and Thailand, with sales in these markets accounting for 90.54%, 53.74%, and 62.41% of total revenue in 2019, 2020, and 2021 respectively[142]. - The company is exploring market expansion opportunities in overseas regions, particularly in Asia and Oceania, where sales have been robust[119]. Employee and Management Structure - The company reported a total of 508 employees, with 395 in the parent company and 113 in major subsidiaries[191]. - The workforce includes 154 production staff, 42 sales personnel, 15 technical staff, 31 financial staff, 194 administrative staff, and 72 R&D personnel[191]. - The remuneration for directors and senior management is determined based on actual profitability and individual contributions, with a monthly subsidy of 1,500 RMB for supervisors[173]. - The company has established a training management system to enhance employee competency and has developed annual training plans to ensure effective training outcomes[195].