XUELONG(SH:603949)2022-04-27 16:00Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of RMB 128,237,476.46, a decrease of 12.23% compared to 2020[5]. - The company's operating income for 2021 was RMB 472,911,188.13, reflecting a decline of 3.03% from the previous year[22]. - The basic earnings per share for 2021 were RMB 0.61, down 19.74% from RMB 0.76 in 2020[23]. - The company reported a net profit excluding non-recurring gains and losses of RMB 106,265,385.25, a decrease of 23.28% from the previous year[22]. - Operating profit was ¥148,068,421.30, down 15.04% year-on-year, while net profit attributable to shareholders was ¥128,237,476.46, a decline of 12.23%[51]. - The main business revenue from automotive parts was ¥457,076,797.39, a year-on-year decrease of 3.11%, with a corresponding cost of ¥242,851,340.91, which increased by 10.47%[52]. - The gross profit margin for the automotive parts sector decreased by 6.53% due to rising raw material and manufacturing costs[55]. - The company achieved operating revenue of ¥472,911,188.13, a decrease of 3.03% compared to the previous year[51]. Cash Flow and Assets - The cash flow from operating activities increased significantly to RMB 185,033,676.66, up 313.41% compared to 2020[22]. - The total assets of the company at the end of 2021 were RMB 1,113,462,222.00, representing a growth of 3.39% from the previous year[22]. - The net assets attributable to shareholders were RMB 1,026.75 million, up 6.79% from the beginning of the year[32]. - Cash and cash equivalents decreased by 36.12% to ¥73,949,772.26, down from ¥115,766,659.02 in the previous period[68]. - Trade financial assets increased to ¥91,257,917.80, representing 100% growth due to increased purchases of financial products[68]. Market and Sales Performance - The sales volume of the clutch fan assembly reached 765,000 units, an increase of 9.5% compared to the previous year[32]. - The sales of the electronic controlled silicone oil clutch fan assembly were 141,000 units, representing a year-on-year growth of 31.1%[34]. - The commercial vehicle market experienced a cyclical turning point, with a high growth in Q1, a pullback in Q2, a low in Q3, and weakness in Q4, influenced by local pandemic impacts and supply chain issues like chip shortages[39]. - The agricultural machinery sector saw a 3.62% year-on-year increase in sales of large and medium-sized tractors, reaching 315,000 units in 2021, driven by government policies promoting agricultural production[40]. Research and Development - R&D expenses accounted for 4.64% of total revenue, reflecting an increase in investment in product development[35]. - The company is focusing on R&D projects that include modal analysis, thermal analysis of silicone oil clutches, and the development of high-temperature resistant composite materials, aiming for industry-leading levels[45]. - Research and development expenses increased by 11.82% to ¥21,961,324.38, indicating a focus on innovation and product development[52]. - The company has developed core technologies for cooling fan clutches, enabling it to meet the increased market demand driven by the implementation of the "National VI" emission standards[44]. Risk Management and Governance - The company has not identified any significant risks that could materially affect its operations during the reporting period[9]. - The company is committed to enhancing internal control and risk management, ensuring that risks are maintained at reasonable levels while promoting high-quality development[37]. - The internal control system is designed to ensure the accuracy and completeness of financial statements, adapting to regulatory changes and business developments[92]. - The company has established various management and supervisory bodies, including a board of directors and several committees, to ensure effective governance[94]. Future Outlook and Strategy - The company maintains a cautiously optimistic outlook for 2022, anticipating a slowdown in new demand for heavy trucks due to market factors, but expects rapid growth in new energy heavy trucks driven by favorable policies[78]. - The company aims to strengthen its position as an industry leader by focusing on core business and enhancing market share in the fan clutch and lightweight markets[80]. - The company plans to increase its international market share, which is currently low, by developing new customers and products[81]. - The company will expand its product lines around automotive cooling systems to become a world-class integrated supplier[82]. Corporate Social Responsibility - The company has donated over 40 million yuan to social causes, including education and poverty alleviation, reflecting its commitment to social responsibility[140]. - The company emphasizes its commitment to "energy conservation and environmental protection," actively reducing pollutants during production and utilizing rooftop solar power to decrease carbon emissions[138]. - The company has implemented measures to reduce carbon emissions, including enhancing automation in manufacturing processes and focusing on energy-saving renovations, which have improved equipment utilization rates[139]. Shareholder Relations - The company adheres to strict information disclosure obligations, ensuring timely and accurate reporting to shareholders through designated platforms[91]. - The company emphasizes shareholder communication, particularly with minority shareholders, during the profit distribution decision-making process[128]. - The total remuneration for all directors, supervisors, and senior management personnel amounted to CNY 669.44 million at the end of the reporting period[110].