KAMA(SH:900953)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,987,968,708, a slight increase of 0.32% compared to CNY 3,975,263,381.79 in 2020[20]. - The net profit attributable to shareholders of the listed company for 2021 was a loss of CNY 178,151,998.89, a decrease of 1,192.31% compared to a profit of CNY 16,309,650.82 in 2020[20]. - The net cash flow from operating activities was a negative CNY 250,821,628.62, a decline of 1,894.67% compared to CNY 13,975,955.56 in 2020[20]. - The total assets at the end of 2021 were CNY 4,411,446,092.36, a decrease of 10.87% from CNY 4,949,615,546.75 at the end of 2020[20]. - The net assets attributable to shareholders of the listed company decreased by 22.68% to CNY 608,041,253.61 from CNY 786,360,141.65 in 2020[20]. - The basic earnings per share for 2021 was -CNY 0.28, a decrease of 1,033.33% compared to CNY 0.03 in 2020[21]. - The weighted average return on equity was -25.55% for 2021, a decline of 27.65 percentage points from 2.1% in 2020[22]. - The company reported a significant decrease in non-operating income by 79.86% to CNY 5,975,446.67 from CNY 29,663,789.40 year-on-year[41]. - The company reported a net loss of ¥868,327,135.85 for the fiscal year 2021, resulting in no cash dividend distribution or capital reserve increase[109]. Revenue and Sales - The company reported a decrease in revenue from core business activities, with a total of CNY 3,851,616,984.68, down 0.95% from CNY 3,888,533,135.11 in 2020[20]. - The company sold 68,700 units of cargo vehicles, representing a year-on-year growth of 9.22%[40]. - The sales volume of cargo vehicles increased by 9.22% to 68,729 units, while production volume rose by 7.96% to 69,619 units[46]. - Total vehicle sales increased by 9.22% year-on-year, with micro trucks showing a significant increase of 51.43%[66]. - New energy vehicle sales reached 603 units, a 38.94% increase compared to the previous year, with revenue from electric vehicles at ¥28.77 million[69][71]. Costs and Expenses - Operating costs increased by 2.52% to CNY 3,861,519,862.65 from CNY 3,766,580,068.88 year-on-year[41]. - Research and development expenses decreased by 9.61% to CNY 42,127,356.98 from CNY 46,606,595.86 year-on-year[41]. - The gross profit margin for the manufacturing sector decreased by 2.82% to 2.33% compared to the previous year[44]. - The company reported a significant increase in management expenses, rising to RMB 214,516,001 in 2021 from RMB 143,272,669 in 2020, an increase of about 49.7%[191]. - The company experienced a credit impairment loss of RMB 52,932,836 in 2021, compared to RMB 21,895,170 in 2020, reflecting a deterioration in asset quality[192]. Cash Flow - The net cash flow from financing activities decreased by 58.01% to CNY 34,665,195.26 from CNY 82,547,700.56 in the previous year[41]. - Operating cash flow for 2021 was negative at -250,821,628.62, a significant decline from a positive 13,975,955.56 in 2020[199]. - The ending balance of cash and cash equivalents for 2021 was 95,581,850.45, down from 233,887,098.95 in 2020, indicating a decrease of approximately 59.1%[200]. - The company received 513,000,000.00 in borrowings in 2021, an increase from 479,000,000.00 in 2020, representing an increase of about 7.0%[200]. Risk Management and Governance - The company has acknowledged the presence of various risk factors in its operations, as detailed in the management discussion and analysis section of the report[7]. - The company is focusing on enhancing risk management and financial control to ensure stable operations[35]. - The company has established a governance structure that ensures effective decision-making and risk management, protecting shareholder rights[84]. - The company maintains a commitment to transparent information disclosure, ensuring all shareholders have equal access to relevant information[86]. - The company has a structured approach to management with designated roles for monitoring and auditing, ensuring financial integrity[93]. Corporate Social Responsibility - The company donated 406,900 yuan for educational support and assistance for employees with serious illnesses[127]. - The company donated a total of 440,000 RMB to support poverty alleviation and rural revitalization efforts in 2021[128]. - The company provided 100,000 RMB in donations specifically for rural revitalization work in Pinglu County[128]. - The company has been actively supporting local agricultural products through purchasing initiatives[128]. Legal and Compliance - The company has ongoing litigation involving its subsidiary, Shandong Kaima Automobile Manufacturing Co., with a case currently in execution[135]. - The company has filed an appeal against a ruling from the Shandong Provincial High People's Court, which upheld a lower court's decision not to support its claims in a contract dispute[136]. - The company has not faced any penalties from securities regulatory agencies in the past three years[98]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period[91]. Employee and Management Changes - The company reported a significant leadership change with the resignation of the chairman due to retirement, effective January 13, 2022[92]. - The company has a diverse board with members holding various significant positions in other organizations, indicating strong industry connections[93]. - The company has seen a significant turnover in its supervisory board, with multiple members being elected during the recent restructuring[97]. - The total number of employees at the parent company and major subsidiaries is 4,159, with 3,019 in production roles and 425 in sales[105].