银轮股份(002126) - 2021 Q4 - 年度财报

Financial Performance - The company reported a cash dividend of 0.80 yuan (including tax) per 10 shares, with no bonus shares distributed[7]. - The total number of shares for dividend distribution is 792,116,159 shares[7]. - The company's operating revenue for 2021 was ¥7,816,415,930.90, representing a 23.60% increase compared to ¥6,324,186,529.70 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥220,374,339.65, a decrease of 31.47% from ¥321,583,085.75 in 2020[34]. - The net profit after deducting non-recurring gains and losses was ¥207,912,560.50, down 20.15% from ¥260,386,304.06 in 2020[34]. - The net cash flow from operating activities for 2021 was ¥374,643,214.62, a decline of 17.87% compared to ¥456,173,578.49 in 2020[34]. - The total assets at the end of 2021 were ¥11,988,875,220.88, an increase of 21.64% from ¥9,856,245,406.68 at the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥4,400,149,823.52, up 11.74% from ¥3,937,786,096.18 at the end of 2020[34]. - In 2021, the company reported a basic earnings per share of ¥0.28, down 31.71% from ¥0.41 in 2020[34]. - The weighted average return on equity for 2021 was 5.28%, a decrease of 3.12% from 8.40% in 2020[34]. Market and Industry Trends - The company experienced a decline in commercial vehicle production and sales, with a decrease of 10.7% and 6.6% respectively in 2021[49]. - The automotive industry showed resilience with a production and sales completion of 26.08 million and 26.27 million vehicles in 2021, reflecting a growth of 3.4% and 3.8% year-on-year[48]. - In 2021, the production and sales of trucks were 4.166 million and 4.288 million units, representing a year-on-year decline of 12.8% and 8.5% respectively, with heavy trucks experiencing the largest drop of 13.8%[50]. - The passenger car market saw production and sales of 21.408 million and 21.482 million units in 2021, marking a year-on-year increase of 7.1% and 6.5%, ending a three-year decline[53]. - In 2021, the production and sales of new energy vehicles reached 3.545 million and 3.521 million units, respectively, showing a year-on-year growth of 160% and achieving a market share of 13.4%, up 8 percentage points from the previous year[54]. Research and Development - The company focuses on four product development lines: energy saving, emission reduction, intelligence, and safety, specializing in heat exchangers and thermal management products[54]. - The company has established R&D centers and production bases in the US, Sweden, and Poland, enhancing its global supply capabilities[55]. - The company emphasizes a technology-driven strategy, investing in R&D and innovation to enhance product competitiveness[75]. - The company has nearly 800 patents, including 90 invention patents and 5 international patents, and has led the formulation of 35 industry standards[85]. - Research and development expenses increased by 21.19% to ¥326,331,765.52 compared to the previous year[113]. - The number of R&D personnel rose to 1,209 in 2021, an increase of 3.25% from 1,171 in 2020[119]. Strategic Initiatives - The company has established a new business division focused on developing new energy products, particularly air conditioning systems[76]. - The company aims to enhance its international presence and technical leadership while improving overall competitiveness in the automotive thermal exchange field[80]. - The company plans to achieve an operating revenue of 8.8 billion RMB in 2022, aiming for 9.2 billion RMB, with over 25% of revenue coming from new energy products[159]. - The company aims to improve the net profit margin by 1-2 percentage points year-on-year through internal improvements and cost control measures[162]. - The company is committed to enhancing its internationalization efforts, particularly through the establishment of factories in Mexico and Poland[166]. Corporate Governance - The company maintained a governance structure that complies with the requirements of the "Corporate Governance Guidelines" and relevant laws, ensuring a high level of corporate governance[186]. - The company has a total of 9 board members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[186]. - The company has independent financial accounting and internal audit departments, ensuring independent financial decision-making[191]. - The company has a clear asset ownership structure, with no overlap or interference from the controlling shareholder[191]. - The company has established a transparent information disclosure system, ensuring timely and accurate communication with investors[186]. Risks and Challenges - The company faces macroeconomic volatility risks that could impact orders for commercial vehicles, passenger cars, and new energy vehicles, affecting overall performance[172]. - Fluctuations in raw material prices, particularly metals like aluminum, steel, iron, and copper, significantly impact production costs and profitability[173]. - Intense market competition in the automotive parts manufacturing sector necessitates improvements in product competitiveness and brand influence to maintain market share[174]. - Exchange rate fluctuations pose risks to the company's international competitiveness, especially as it exports products to the US and Europe, using USD and EUR for transactions[175].