Changqing(SH:603768)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,008,989,002.54, representing a 30.99% increase compared to CNY 2,297,081,707.05 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 59,409,224.03, a decrease of 20.97% from CNY 75,169,205.39 in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 43,464,569.62, down 15.49% from CNY 51,433,700.28 in 2020[22]. - The net cash flow from operating activities for 2021 was negative CNY 21,338,645.00, compared to negative CNY 691,887.99 in 2020, indicating a significant decline[22]. - The company reported a basic earnings per share of CNY 0.29, down 21.62% from CNY 0.37 in 2020[24]. - The weighted average return on equity decreased to 3.33%, down from 4.34% in the previous year, a reduction of 1.01 percentage points[24]. - Operating costs rose by 36.19% to CNY 2,618,083,883.17, attributed to increased business scale and rising raw material costs[42][43]. - Research and development expenses increased by 30.53% to CNY 79,455,630.87, reflecting the company's commitment to innovation[42]. Assets and Liabilities - As of the end of 2021, the total assets amounted to CNY 3,861,438,643.30, a 6.52% increase from CNY 3,624,927,039.34 at the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,800,933,705.77, reflecting a 2.07% increase from CNY 1,764,372,481.74 at the end of 2020[22]. - Total liabilities increased by 10.75% to ¥2,060,504,937.53 from ¥1,860,554,557.60, indicating a rise in overall financial obligations[66]. - Current liabilities rose to CNY 1,725,961,270.39 in 2021, compared to CNY 1,594,638,247.67 in 2020, indicating an increase of about 8.2%[180]. - Non-current liabilities totaled CNY 334,543,667.14 in 2021, up from CNY 265,916,309.93 in 2020, reflecting a growth of approximately 25.8%[180]. Cash Flow - The company’s cash and cash equivalents decreased by 43.25% to ¥275,612,708.32 from ¥485,651,548.80 in the previous year[65]. - Net cash flow from operating activities decreased by 2984.12% year-on-year, attributed to higher cash payments to employees and increased tax payments[44]. - Cash received from sales of goods and services increased by 8.77% to 1,394.57 million RMB compared to the previous year[62]. - Cash flow from investing activities showed a net outflow of CNY 260,687,515.26 in 2021, compared to a net inflow of CNY 320,040,828.40 in 2020[198]. - Cash flow from financing activities resulted in a net outflow of CNY 24,297,341.76 in 2021, an improvement from a net outflow of CNY 146,578,339.20 in 2020[198]. Market and Business Strategy - The production and sales of new energy vehicles reached 3.55 million and 3.52 million units respectively, with a year-on-year growth of 160% and a market share of 13.4%[32]. - The company is focusing on expanding its business in the new energy and lightweight sectors, leveraging existing customer relationships with major players like Volkswagen and NIO[33]. - The company plans to gradually transition its main operations over the next 3-5 years to focus on lightweight materials for vehicle body structures and chassis[33]. - The company aims to enhance internal governance and pursue high-quality development by improving internal control systems and talent management[33]. Governance and Compliance - The company emphasizes transparency and timely information disclosure, with all required information made available to shareholders through designated media[91]. - The company has established a comprehensive internal control system in accordance with relevant laws and regulations, ensuring operational independence from its controlling shareholder[89]. - The board of directors consists of 7 members, including 3 independent directors, and held 8 meetings during the reporting period to discuss key issues such as related party transactions and profit distribution[90]. - The company has implemented measures to maintain independence from its controlling shareholder, ensuring no interference in operational activities[93]. Environmental and Social Responsibility - Environmental protection measures include the installation of dust removal facilities, with normal operation reported for all environmental facilities during the reporting period[130]. - The company has established an emergency response plan for environmental incidents, which was approved by local environmental protection authorities[132]. - The company adheres to the principle of integrity and quality, actively fulfilling corporate social responsibility through wealth creation and shareholder returns[136]. - The company emphasizes employee rights and welfare, improving work and living conditions, and focusing on talent training for mutual growth[136].