AECC AEC(SZ:000738)2022-04-01 16:00Financial Performance - The company's operating revenue for 2021 was CNY 4,156,777,896.56, representing an increase of 18.25% compared to CNY 3,498,716,999.98 in 2020[12]. - The net profit attributable to shareholders of the listed company was CNY 487,614,039.82, a growth of 30.67% from CNY 367,579,088.47 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 465,947,322.33, which is a 50.17% increase from CNY 304,787,734.87 in 2020[12]. - The net cash flow from operating activities for 2021 was ¥894,149,253.41, representing an increase of 111.49% compared to the previous year[13]. - Basic and diluted earnings per share for 2021 were both ¥0.40, a 25.00% increase from ¥0.32 in 2020[13]. - The total assets at the end of 2021 reached ¥14,175,565,532.59, marking a 53.64% increase from ¥8,827,606,580.80 in 2020[13]. - The company reported a weighted average return on equity of 6.46% for 2021, slightly up from 6.32% in 2020[13]. - The gross profit margin for the manufacturing sector was 28.24%, a decrease of 0.95% compared to the previous year[28]. - The total cost of sales was approximately ¥2.98 billion, with a year-on-year increase of 19.84%[28]. - The company's asset-liability ratio was 24.64% at the end of 2021, indicating strong solvency[122]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.45 per 10 shares, based on a total of 1,315,184,001 shares[2]. - The company distributed a cash dividend of 0.45 CNY per 10 shares, totaling 59,183,280.05 CNY to shareholders, with retained earnings of 496,471,298.77 CNY carried forward to the next year[105]. - In 2021, the company distributed a total cash dividend of 51.55 million CNY, which is 0.45 CNY per share (including tax) to all shareholders[122]. Research and Development - Research and development investment amounted to 15,189,430 CNY, up by 596,540 CNY, or 4.09% year-on-year[24]. - The company reported a total R&D expenditure of approximately ¥151.89 million, representing 3.65% of total revenue[36]. - The number of R&D personnel increased to 1,168, accounting for 16.01% of the total workforce[36]. - The company has been awarded 10 technology advancement awards at the provincial and national levels, showcasing its commitment to innovation[21]. - The company is committed to digital transformation and upgrading its production and management systems to improve operational efficiency[60]. Market Position and Strategy - The company is a leading manufacturer in the military aviation engine control system sector, focusing on independent research and development to enhance innovation capabilities[19]. - The company aims to transform its R&D and manufacturing towards a digital and intelligent development model, aligning with the new technological revolution[19]. - The company is positioned as a leading domestic enterprise in the aviation engine control system industry, with significant market potential driven by national policies supporting independent research and production[58]. - The company aims for a revenue target of 5.1 billion yuan for 2022, which is an estimated value and not a commitment to investors[60]. - The company is actively pursuing international cooperation to become a preferred supplier in the global civil aviation sector[59]. Corporate Governance - The company has established a robust internal control system to enhance operational transparency and governance[66]. - The company maintained strict compliance with information disclosure obligations, ensuring timely and accurate reporting to investors[67]. - The company has effectively managed insider information, ensuring compliance with regulations to prevent insider trading[68]. - The company has not reported any significant changes in management or board structure that could impact its strategic direction[74]. - The company has a diverse board with members ranging in age from 51 to 64, contributing to a mix of experience and perspectives[72]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities, with emissions meeting regulatory standards[115]. - The company has equipped 48 environmental protection facilities, including 3 wastewater treatment facilities, all operating normally[115]. - The company has implemented measures to reduce carbon emissions and actively promoted green and low-carbon development initiatives[121]. - The company provided 9.4 million yuan in assistance funds for poverty alleviation efforts in 2021[129]. - The company achieved a 100% compliance rate for hazardous waste disposal in 2021[126]. Financial Management - The company has a professional technical staff ratio of 33%, indicating a strong talent pool for future development[22]. - The company has a structured remuneration decision-making process involving the board and compensation committee, approved by the shareholders' meeting[84]. - The company reported a total of ¥313,546.37 million in related party transactions, with actual transactions not exceeding the estimated amounts[145]. - The company has not engaged in any violations regarding external guarantees during the reporting period[135]. - The company has implemented changes in accounting policies due to the new leasing standards, which may affect financial reporting[135]. Shareholder Structure - The company has a total of 69,958 shareholders, with the largest shareholder, China Aviation Engine Corporation, holding 28.57% of shares, amounting to 375,810,362 shares[171]. - The top ten shareholders include state-owned entities, with the total shareholding of the top five shareholders exceeding 50%[172]. - The company has a diverse shareholder structure, with significant holdings from state-owned entities and investment funds[166]. - The actual controller of the company is China Aviation Engine Corporation, which was established on May 31, 2016, and is involved in the design, research, production, and sales of aviation engine products[177]. Audit and Compliance - The audit opinion issued was a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position and operating results[185]. - The audit report emphasizes the importance of identifying risks related to fraud and errors, which could impact the financial statements and the company's ongoing viability[198]. - The company has no major shareholders with pledged shares exceeding 80% of their holdings[181]. - The company did not implement any share buyback during the reporting period[181].