Heli Technology(SH:603917)2022-04-19 16:00Financial Performance - In 2021, the company's operating revenue was RMB 704,056,982.60, a decrease of 1.85% compared to 2020[24] - The net profit attributable to shareholders was RMB 64,901,841.38, representing a decline of 22.98% year-on-year[24] - The net profit after deducting non-recurring gains and losses was RMB 43,721,439.78, down 32.47% from the previous year[24] - The net cash flow from operating activities was RMB 107,594,875.58, a decrease of 19.10% compared to 2020[24] - The total assets at the end of 2021 were RMB 1,462,744,438.27, a decrease of 3.05% from the end of 2020[24] - The company's net assets attributable to shareholders were RMB 1,033,524,808.16, down 4.91% year-on-year[24] - Basic earnings per share for 2021 were RMB 0.4139, a decrease of 22.98% compared to 2020[25] - The weighted average return on net assets was 6.14%, a decrease of 1.88 percentage points from the previous year[25] - The company's operating income for 2021 was RMB 153,940,290.69, a decrease from RMB 197,577,962.01 in 2020, representing a decline of approximately 22%[29] - The net profit attributable to shareholders for 2021 was RMB 14,920,990.57, down from RMB 22,368,805.84 in 2020, indicating a decrease of about 33%[29] - The net profit after deducting non-recurring gains and losses was RMB 11,252,033.43 in 2021, compared to RMB 15,816,712.29 in 2020, reflecting a decline of approximately 29%[29] Market and Business Development - The company completed the construction of a project to produce 100 sets of large precision die-casting molds and 1.5 million aluminum alloy parts, which has started generating economic benefits[35] - The company has established a joint venture with Nabtesco to develop and manufacture electric air compressors for commercial vehicles, enhancing its product offerings in the new energy sector[36] - The company has expanded its market presence by strengthening partnerships with international clients such as AK in Spain and NEMAK in Mexico, while also developing relationships with domestic manufacturers in the new energy vehicle sector[34] - The company has invested in digital factory initiatives, including the implementation of PLM, ERP, and MES systems to enhance its manufacturing capabilities[35] - The company has focused on R&D for aluminum alloy materials to improve mechanical properties while reducing production costs[36] - The company completed the acquisition of Helit Brake, which is expected to enhance its operational scale and profitability in the automotive brake industry[35] - The company focuses on the development, design, manufacturing, and sales of automotive casting molds, hot stamping molds, aluminum alloy components, and automotive brake systems, emphasizing new energy and lightweight strategies[43] - The company has established three main business segments: mold division, aluminum alloy division, and brake system division, providing one-stop services for various clients in automotive and rail transportation sectors[43] - The company maintains a strong market position as a leading supplier of high-end precision molds and components, consistently ranking among the top in domestic market share for casting molds[53] Production and Operational Efficiency - The company has developed advanced technologies in large precision casting mold design and manufacturing, achieving high technical parameters in both casting and hot stamping molds[57] - The company has received multiple awards for its mold products, including "National Key New Product" and "Precision Mold Award" from the China Mold Industry Association[55] - The company employs a customized production model, focusing on "sales-driven production" and "production-driven orders" to meet specific client needs[47] - The company utilizes advanced processing technologies and automation in its manufacturing processes, ensuring high precision and efficiency in mold production[56] - The company has a stable team of skilled workers with an average experience of over 10 years, ensuring quality control and stability in mold product quality[56] Research and Development - The company's R&D expenses increased by 25.79% to CNY 33.13 million, reflecting a commitment to innovation[65] - The total R&D expenditure was ¥33,127,331.17, which is 4.71% of operating revenue[78] - The number of R&D personnel is 107, making up 12.36% of the total workforce[79] - The company plans to maintain a high level of R&D investment, targeting a significant portion of its main business revenue to be allocated to research in casting molds and aluminum components[101] - The company is establishing partnerships with universities and research institutions to stay updated on industry advancements and improve its independent innovation capabilities[101] Financial Management and Shareholder Relations - The company plans to distribute a cash dividend of RMB 1.3 per 10 shares, totaling RMB 20,384,000[5] - The company aims to distribute at least 10% of the annual distributable profits as cash dividends, provided there are no significant investment plans or cash expenditures[150] - In the absence of major investments, the company will prioritize cash dividends, with a minimum cash dividend ratio of 80% for mature companies without significant capital expenditures[150] - The company will review its shareholder return plan at least every three years, considering the opinions of shareholders, especially minority shareholders, and independent directors[153] - The company’s profit distribution policy emphasizes sustainability and reasonable returns to investors while maintaining operational capabilities[149] - The board of directors will propose mid-term profit distributions based on the company's financial situation, subject to shareholder approval[149] Risk Management - The company acknowledges potential risks from macroeconomic fluctuations and cyclical changes in the automotive industry, which could impact its performance[104] - The procurement cost of mold steel and aluminum alloy ingots represented a high percentage of total raw material costs, exposing the company to raw material price fluctuation risks[107] - Exchange rate fluctuations can impact the company's operating performance, particularly if the RMB appreciates against the Euro and USD, affecting product pricing and gross margins[110] Corporate Governance - The company has experienced a significant turnover in its management team, with several key positions seeing changes in personnel[122] - The board's focus on improving corporate governance and operational efficiency is evident from the changes in shareholding and management structure[121] - The company has established a robust internal control management system in compliance with regulations, enhancing decision-making efficiency and ensuring asset safety[158] - The internal control audit report received a standard unqualified opinion, indicating effective internal control measures[160] - The company actively promotes carbon emission reduction by utilizing solar energy and optimizing production schedules to minimize energy waste[164] Compliance and Legal Matters - The company has not faced any administrative penalties related to environmental issues during the reporting period[162] - The company has not faced any delisting risks or significant regulatory issues during the reporting period[195] - The company has committed to avoiding and minimizing related party transactions with its controlling shareholders[188] - The company has established a commitment to avoid competition with other businesses controlled by its major shareholders[187] Employee Management and Development - The company has a comprehensive employee training program to support professional development and ensure compliance with labor laws[164] - The company encourages employee participation in management and offers various allowances based on job roles and performance[145] - The company employed a total of 866 staff, with 640 in the parent company and 226 in major subsidiaries[143]