KPA(SH:688681)2022-04-19 16:00Financial Performance - The net profit attributable to the parent company for the year ended December 31, 2021, was RMB 54,617,572.85, with the parent company achieving a net profit of RMB 46,358,854.94[5] - The total distributable profit for the parent company at the end of 2021 was RMB 214,007,401.59, with a proposed cash dividend of RMB 1.2 per 10 shares, totaling RMB 12,560,400.00, which accounts for 23.00% of the net profit attributable to shareholders[5] - The company's operating revenue for 2021 was CNY 369,319,785.11, representing a year-on-year increase of 10.96% compared to CNY 332,828,175.94 in 2020[20] - The net profit attributable to shareholders of the listed company decreased by 1.28% to CNY 54,617,572.85 in 2021 from CNY 55,323,419.20 in 2020[20] - The net cash flow from operating activities significantly declined by 89.43% to CNY 4,037,740.52, primarily due to changes in customer payment methods and a substantial increase in employee compensation[22] - Total assets at the end of 2021 reached CNY 772,662,709.21, a 43.14% increase from CNY 539,791,209.80 at the end of 2020[20] - The net assets attributable to shareholders of the listed company increased by 72.80% to CNY 584,984,623.65 at the end of 2021 compared to CNY 338,531,126.33 at the end of 2020[20] - Basic earnings per share for 2021 were CNY 0.60, down 14.29% from CNY 0.70 in 2020[21] - The company's gross profit margin was 47.04%, a decrease of 6.25 percentage points compared to the previous year[88] - The company achieved operating revenue of RMB 369,319,785.11, a year-on-year increase of 10.96%[93] Research and Development - The R&D expenditure accounted for 9.09% of operating revenue in 2021, an increase from 8.29% in 2020[22] - The company invested 33.56 million yuan in R&D, a year-on-year increase of 21.69%, accounting for 9.09% of operating revenue[32] - The company holds a total of 61 patents, including 43 invention patents, and applied for 15 new patents during the year[33] - The company has ongoing projects with significant investments, including ¥6,800,000 for wave distance measurement systems and ¥8,400,000 for automated measurement and control terminals[68] - The company’s R&D investment has resulted in a total of 135 patent applications, with 86 patents granted cumulatively[62] - The company is actively researching synchronous reluctance motor drive systems, which are expected to have significant energy-saving effects and align with national carbon neutrality goals[48] - The company has developed core technologies that enhance the reliability and accuracy of fault location in power transmission lines, with significant improvements in measurement precision[56] - The company’s R&D efforts led to the development of technologies that improve the adaptability of motors in harsh environments, enhancing reliability and reducing costs[59] Market and Business Strategy - The company operates in the electrical machinery and equipment manufacturing industry, focusing on two main segments: smart grid fault monitoring and automation, and switched reluctance motor drive systems[41] - The estimated market capacity for switched reluctance motor drive systems is conservatively projected at CNY 20 billion, indicating significant growth potential[44] - The company is expanding its user-side energy storage business, achieving significant breakthroughs in integrated solar-storage systems[34] - The company plans to expand its reluctance motor business, capitalizing on the growing demand for this technology[131] - The company aims to leverage its technological advancements to meet increasing market demands for reliable power supply solutions[69] - The company is exploring potential acquisitions to further enhance its product offerings and market presence[152] - The company plans to enter two new international markets by the end of 2022, targeting a 15% revenue contribution from these markets[151] Governance and Compliance - The company has a governance structure that includes a board of directors with 9 members, of which 3 are independent directors, ensuring compliance with legal requirements[139] - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, ensuring fair treatment of all shareholders[138] - The company emphasizes investor relations management and has established multiple communication channels to enhance engagement with investors[140] - The company has not reported any related party transactions that could impact its financial performance[142] - The company is committed to maintaining transparency and governance standards as evidenced by the regular shareholder meetings held[144] Operational Efficiency - The company has implemented an ERP system upgrade to enhance management efficiency and digital transformation[35] - The company has established a comprehensive internal control system, ensuring effective execution across all business activities[188] - The company has implemented a "sales-driven production" model, aligning production volume closely with sales fluctuations[101] - The company has a performance evaluation system in place to motivate employees and adjust salaries based on performance[177] - The company has made significant advancements in the automation of oil pump control systems, leading to increased production efficiency and reduced operational costs[71] Environmental and Social Responsibility - The company invested approximately 3.8 million RMB in building integrated green power stations, achieving an annual power generation of about 1,200 MWh and reducing carbon emissions by over 1,196 tons[195] - The company has implemented a complete environmental protection management system, ensuring compliance with national environmental laws and standards[194] - The company produced 7.9 tons of hazardous waste in 2021, managing it according to relevant regulations and ensuring no overdue storage[192] - The company’s energy consumption included 1.36 million kWh of electricity, with 270,000 kWh generated from photovoltaic sources[191] Future Outlook - The company provided guidance for 2022, expecting revenue growth to be between 10% and 12%[151] - The company aims to enhance its R&D investment to improve technological capabilities and product levels, including the development of new types of wave distance measuring devices and online monitoring devices for cable faults[134] - The company is committed to expanding its user-side energy storage business and exploring profitable business models for energy storage[135] - The company plans to develop a complete energy storage product line, including battery modules, battery management systems, storage cabinets, inverters, and control devices over the next three years[133]