Xianheng International(605056)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥1.99 billion, a slight increase of 0.08% compared to ¥1.99 billion in 2020[22]. - The net profit attributable to shareholders for 2021 was approximately ¥198.86 million, representing a decrease of 16.28% from ¥237.52 million in 2020[22]. - The net cash flow from operating activities in 2021 was approximately ¥144.05 million, a significant decline of 60.02% compared to ¥360.26 million in 2020[23]. - The total assets at the end of 2021 were approximately ¥2.16 billion, an increase of 30.94% from ¥1.65 billion at the end of 2020[23]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥1.48 billion, reflecting a growth of 55.72% from ¥950.85 million at the end of 2020[23]. - The basic earnings per share for 2021 were ¥0.53, down 19.70% from ¥0.66 in 2020[24]. - The weighted average return on equity for 2021 was 16.35%, a decrease of 10.56 percentage points from 26.91% in 2020[24]. - The company achieved a revenue of 1,992.52 million yuan in 2021, representing a year-on-year growth of 0.08%[51]. - The net profit attributable to shareholders was 198.86 million yuan, a decrease of 16.28% compared to the previous year[51]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.50 per 10 shares, totaling approximately RMB 140 million for the year 2021[5]. - The total share capital for the dividend distribution is 400,010,000 shares[5]. - The company does not plan to increase capital reserves or issue bonus shares for the year 2021[5]. - The company distributed cash dividends of ¥4.00 per 10 shares, totaling ¥160,004,000.00 for the first half of 2021[133]. - The company's available profit for distribution as of June 30, 2021, was ¥302,386,760.84 (unaudited)[134]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[4]. - The company has established a comprehensive governance structure, ensuring compliance with legal regulations and effective management practices[89]. - The company has established an independent director system, ensuring independent opinions and professional advice for scientific decision-making and compliance operations[94]. - The company has not faced any penalties from securities regulatory authorities in the past three years[115]. - The board meetings adhered to legal and regulatory requirements, ensuring proper procedures were followed[117]. Operational Performance - The company achieved a stable growth in operating performance, focusing on enhancing core competitiveness and innovation, while adapting to external changes and challenges[33]. - The company has completed the construction target of 330,000 SKUs in its supply chain by 2021, optimizing product selection and procurement efficiency[35]. - The total number of employees increased by 6.07% to 1,467 during the reporting period, with a focus on improving training and performance assessment systems[39]. - The MRO (Maintenance, Repair, and Operations) centralized sales business accounts for approximately 70% of the company's revenue, with significant growth potential in the market[40]. - The company has established partnerships with several universities to enhance talent cultivation and innovation cooperation, focusing on applied technology development[38]. Market Expansion and Strategy - The company is actively expanding into the nuclear power market and enhancing capabilities in the oil and petrochemical sectors[34]. - The MRO market in China is expected to reach an annual procurement amount of 2.75 trillion yuan by 2025, with a compound annual growth rate of 4.5% from 2020 to 2025[40]. - The company plans to continue expanding in the oil and petrochemical sectors, which have shown significant growth potential[58]. - The company aims to become a leader in MRO integrated services in the energy, transportation, and emergency sectors, focusing on a digital supply chain and localized service networks[81]. - The company plans to enhance its market share in nuclear power, wind power, emergency services, rail transportation, and oil and petrochemicals while expanding its international marketing network[82]. Research and Development - The company invested over 33 million yuan in R&D in 2021, resulting in 7 new trademarks and 20 patents obtained[50]. - The company is committed to increasing its R&D efforts to improve product performance and expand its product range, aiming for a complementary relationship between proprietary and distributed products[82]. - Research and development expenses increased by 20.58% to ¥33,655,018.13, reflecting the company's investment in new products and technologies[53]. - The company has introduced new technologies and products, including the second-generation cable fault diagnosis technology and intelligent management systems[38]. Employee Management - The company has established a performance-oriented compensation distribution mechanism and welfare system for employees[126]. - The company has established a training program through "Xianheng Academy" to enhance employee skills and capabilities[128]. - The company strictly adheres to labor laws and provides competitive salaries and benefits to its employees[126]. - The total remuneration for all directors and senior management amounted to 11.965 million yuan[105]. Financial Management - The company has invested a total of ¥90,000,000 in bank wealth management products sourced from raised funds[179]. - The company has allocated ¥363,050,000 in trust wealth management products using its own funds, with an outstanding balance of ¥202,300,000[179]. - The annualized return rate for the bank wealth management product is projected between 8% to 10% for debt investments and 0% to 20% for equity investments[181]. - The company has not reported any overdue amounts in its financial dealings related to wealth management products[179]. Shareholder Structure - The company has a total of 324,908,811 shares held by domestic non-state-owned legal persons, representing 90.25% of the total shares[190]. - The company’s largest shareholder, Hangzhou Xingrun Investment, holds 64,827,692 shares, accounting for 16.21% of the total shares[199]. - The top three shareholders hold a combined total of 180,153,567 shares, representing 45.04% of the total shares[199]. - The number of ordinary shareholders increased from 13,616 to 14,588 during the reporting period[197]. Risk Management - The company faces risks from increased competition in the power system, requiring continuous enhancement of product quality, pricing, and service capabilities to maintain its market position[86]. - Seasonal fluctuations in demand are expected, with the majority of procurement concentrated in the second half of the year, particularly in Q4, affecting revenue realization[87]. - The company has not faced any significant changes in competitive conditions that would impact its operations negatively[98].