Haosen(SH:688529)2022-05-30 16:00Financial Performance - The company's operating revenue for 2021 was RMB 1,193,362,599.23, representing a 15.13% increase compared to RMB 1,036,543,748.60 in 2020[21]. - The net profit attributable to shareholders decreased by 14.61% to RMB 70,166,835.44 from RMB 82,172,963.91 in the previous year[21]. - Basic earnings per share dropped by 33.73% to RMB 0.55, down from RMB 0.83 in 2020[22]. - The proportion of R&D investment to operating revenue was 6.93%, slightly down from 7.05% in the previous year[22]. - Total assets increased by 10.03% to RMB 2,989,083,301.65 compared to RMB 2,716,588,401.51 at the end of 2020[21]. - The net assets attributable to shareholders rose by 4.96% to RMB 1,096,855,711.85 from RMB 1,045,068,257.84 in 2020[21]. - The weighted average return on net assets decreased by 11.56 percentage points to 6.59% from 18.15% in the previous year[22]. - The company reported a significant increase in orders, leading to higher cash payments for purchased goods[23]. - The net cash flow from operating activities showed a significant decline of 227.93%, resulting in a net outflow of RMB 133,558,585.43[23]. - The net cash flow from investment activities improved significantly to CNY 90,196,951.06, compared to a negative CNY -413,186,753.02 in the previous year[124]. R&D and Innovation - The company received 28 new patents and 49 new software copyrights in 2021, bringing the total to 110 patents and 132 software copyrights[34]. - R&D expenses amounted to CNY 82.71 million, a year-on-year increase of 13.17%, representing 6.93% of operating revenue[34]. - The company is focusing on high-value, high-tech products in the new energy vehicle sector to enhance its competitive advantage and profitability[36]. - The company has developed multiple core technologies, including intelligent flexible assembly unit technology and MES information systems, all sourced from independent R&D[82]. - The company is committed to advancing hydrogen fuel cell technology, with ongoing research and development efforts to address key production challenges[92]. - The company is actively developing flexible assembly technology for fuel cells, with an expected total investment of ¥9.88 million, of which ¥2.54 million has been invested to date[90]. Market and Industry Trends - In 2021, China's automobile production and sales reached 26.275 million units, a year-on-year increase of 3.8%, with traditional fuel vehicles expected to maintain dominance for the next five years[51]. - New energy vehicle sales in 2021 reached 3.52 million units, a significant year-on-year growth of 158.01%[70]. - The smart manufacturing equipment industry in China is expected to grow at a compound annual growth rate of 15%, reaching a market size of 579 billion yuan by 2026[68]. - The company is focusing on expanding its project orders in countries along the Belt and Road Initiative, leveraging national strategies for international growth[51]. - The company is exploring opportunities for mergers and acquisitions to bolster its market position and expand its operational capabilities[188]. Corporate Governance - The company has received a standard unqualified audit report from the accounting firm[4]. - The company has confirmed that all board members are able to ensure the authenticity, accuracy, and completeness of the annual report[7]. - The company has maintained a stable governance structure with no major discrepancies from regulatory requirements[181]. - The company has a diverse board with a mix of genders and expertise, including independent directors[184]. - The remuneration decision-making process for directors and senior management is approved by the board and requires shareholder approval for directors' compensation plans[193]. Risks and Challenges - The company faces risks related to technology talent retention, with 687 R&D personnel being critical for product innovation and development[106]. - The automotive industry concentration poses a risk, as the company's performance is significantly affected by the industry's overall health[111]. - The company is at risk of project delays due to land acquisition issues for its new energy vehicle equipment production line[113]. - Accounts receivable increased by 136.04% year-on-year, raising concerns about potential bad debts and overdue payments from clients[112]. Strategic Initiatives - The company plans to distribute a cash dividend of 1.10 yuan per 10 shares, totaling approximately 14.08 million yuan, which represents 20.07% of the net profit attributable to shareholders for 2021[5]. - The company plans to acquire 100% equity of New Pu Automation, enhancing its product line in lithium battery manufacturing equipment[148]. - The company aims to expand high-end equipment business through self-development, acquisitions, and joint ventures[156]. - The company is establishing a global procurement management platform to enhance supply chain management and reduce procurement costs[165].