苏常柴A(000570) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 2,452,430,515.60, representing a 6.79% increase compared to CNY 2,296,464,711.24 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 103,006,232.54, a significant increase of 96.46% from CNY 52,432,443.05 in 2020[24]. - Basic earnings per share for 2021 rose to CNY 0.1657, reflecting a 77.41% increase from CNY 0.0934 in 2020[24]. - The total assets at the end of 2021 amounted to CNY 4,860,382,961.26, which is a 22.96% increase from CNY 3,952,954,464.45 at the end of 2020[24]. - The net assets attributable to shareholders increased by 35.38% to CNY 3,077,550,018.33 at the end of 2021, compared to CNY 2,273,349,347.02 at the end of 2020[24]. - The cash flow from operating activities showed a negative net amount of CNY -266,323,779.30 in 2021, contrasting with a positive CNY 251,796,654.53 in 2020[24]. - The weighted average return on equity for 2021 was 3.86%, up from 2.40% in 2020[24]. - The company reported a decrease of 79.09% in net profit after deducting non-recurring gains and losses, amounting to CNY 5,329,092.87 in 2021 compared to CNY 25,483,147.57 in 2020[24]. Sales and Market Performance - The total sales volume of internal combustion engines in 2021 was 50.47 million units, representing a year-over-year growth of 7.82%[35]. - Diesel engine sales totaled 6.11 million units in 2021, a decline of 3.67% compared to the previous year, while gasoline engine sales increased by 9.67% to 44.35 million units[35]. - The company has experienced a significant increase in sales for agricultural machinery and generator sets, with growth rates around 30% in 2021[36]. - The company sold a total of 749,300 diesel and gasoline engines in 2021, generating a revenue of 2.452 billion yuan, representing a year-on-year growth of 6.79%[46]. - Domestic sales accounted for ¥2,038,317,678.97, or 83.11% of total revenue, with a growth of 6.00% year-on-year[51]. Research and Development - The company is committed to R&D driven by market demand, ensuring that new products align with customer needs and technological advancements[38]. - The company has a stable and efficient R&D team, with a strong talent cultivation mechanism supporting ongoing innovation[41]. - Research and development expenses increased by 14.02% to ¥82,390,284.14, reflecting the company's commitment to innovation[59]. - The company’s R&D personnel increased to 264 in 2021, a growth of 4.35% compared to 253 in 2020, with R&D personnel accounting for 9.55% of the total workforce[62]. - The company is developing several new products, including a high-performance diesel generator and a hybrid power product, to meet market demands and regulatory requirements[60]. Investment and Financing - The company successfully raised funds through a private placement, with the total operating revenue for 2021 reaching ¥2,452,430,515.60, a year-on-year increase of 6.79%[50]. - The company raised ¥634,999,936.40 through a private placement of 144,318,181 shares, resulting in a net cash inflow of ¥620,665,733.97 from financing activities[65]. - The total amount raised from the non-public offering was RMB 634,999,996.40, with a net amount of RMB 620,665,733.97 after deducting issuance costs[82]. - The company has committed to invest a total of 547.6 million yuan in the lightweight engine project, with 241.0 million yuan already invested, achieving 44.02% of the planned investment by the end of the reporting period[83]. Corporate Governance - The company has established a complete set of internal control systems covering financial asset control, human resource management, quality environment management, and internal audit supervision[103]. - The company maintains independence from its controlling shareholder, with clear asset definitions and no unauthorized use of funds or resources[104]. - The company has a structured governance framework with independent directors overseeing its operations[110]. - The company has continuously improved its governance structure in compliance with relevant laws and regulations, enhancing operational standards and protecting shareholder rights[103]. - The company is focused on maintaining transparency in its remuneration practices and governance structure[115]. Future Outlook and Strategy - The company aims to achieve a sales revenue of 2.3 billion yuan in 2022, with a focus on ensuring the launch of 10,000 new products[91]. - The company is actively developing new energy projects, including lithium battery separator projects, to enhance its market position[97]. - The company is exploring strategic partnerships and investments in the agricultural machinery supply chain to enhance its market position[96]. - The company is committed to exploring new energy sectors, including lithium batteries and hydrogen fuel, to adapt to market changes[90]. - The company is focused on expanding its presence in the new energy sector, indicating a strategic shift towards sustainable technologies[104]. Risk Management - The company is facing risks from raw material price fluctuations and is implementing measures to enhance inventory and cost management[92]. - The company is actively responding to foreign trade risks by implementing a dual-brand strategy and enhancing management of overseas markets[92]. - The company is addressing market risks due to low grain prices and changing user demand, which has shifted from rigid demand to stock updates[91]. - The company has reported on the impact of climate change on its operations, emphasizing the need for sustainable practices[96]. Shareholder Information - The company has reported an increase in shareholder numbers, indicating growing investor interest[97]. - The company plans to increase its dividend payout ratio to 30% in the next fiscal year, reflecting strong cash flow and profitability[98]. - The company has a cash dividend policy that allows for a distribution of 0.26 yuan per 10 shares (including tax), with a total cash dividend amounting to 18,348,005.18 yuan, representing 100% of the total profit distribution[131][133]. - The company’s shareholding structure includes 20.45% of restricted shares and 79.55% of unrestricted shares post-placement[181]. Employee and Talent Management - The company has established a training program aimed at enhancing employee skills and fostering a high-quality talent pool[129]. - The company has maintained a consistent approach to salary policies, focusing on rewarding outstanding talent and improving employee income[128]. - The company recognizes the need for high-level and skilled talent to improve operational efficiency and is enhancing training and talent management[94].