宁波东力(002164) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,614,661,779.52, representing a 30.46% increase compared to ¥1,237,656,494.69 in 2020[21] - The net profit attributable to shareholders for 2021 was ¥332,656,350.55, a decrease of 77.22% from ¥1,460,523,838.24 in 2020[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥151,062,671.94, which is a 73.89% increase from ¥86,870,294.39 in 2020[21] - The net cash flow from operating activities was ¥204,691,901.81, down 26.14% from ¥277,134,357.35 in 2020[21] - The total assets at the end of 2021 were ¥2,357,777,498.65, an increase of 26.79% from ¥1,859,598,445.74 at the end of 2020[21] - The net assets attributable to shareholders at the end of 2021 were ¥959,380,661.16, reflecting a 53.12% increase from ¥626,537,753.11 at the end of 2020[21] - The basic earnings per share for 2021 were ¥0.63, a decrease of 73.42% from ¥2.37 in 2020[21] - The weighted average return on equity for 2021 was 41.96%, a decrease of 196.66 percentage points from 238.62% in 2020[21] Revenue Breakdown - The company achieved a total revenue of CNY 1.615 billion in 2021, representing a year-on-year growth of 30.46%[40] - The subsidiary Dongli Transmission generated revenue of CNY 1.514 billion in 2021, up 46.51% from the previous year[40] - The company’s subsidiary Onik achieved revenue of CNY 181 million in 2021, marking a 20.04% increase[40] - The equipment manufacturing sector accounted for CNY 1,585,278,125.78, or 98.18% of total revenue, with a year-on-year growth of 30.48%[43] - The sales volume in the equipment manufacturing sector increased by 30.48%, primarily due to revenue growth[46] - The production volume in the equipment manufacturing sector rose by 38.67%, also attributed to increased operating revenue[46] Research and Development - The company’s R&D expenses for 2021 were CNY 65,920,895.52, reflecting a 25.07% increase from CNY 52,706,513.44 in 2020[55] - The number of R&D personnel rose by 16.76% to 209 in 2021 from 179 in 2020, with the proportion of R&D personnel to total employees increasing to 11.88%[57] - The company is developing high-power density gear transmission technology to break the technological monopoly in high-end equipment components[56] - The company has completed the development of a multi-motor drive gearbox, aiming to replace imported products and expand into the high-end transmission market[57] - The company is focusing on expanding its product range to meet high standards in the medical sector, including radiation protection requirements[57] Cash Flow and Investments - Operating cash inflow totaled ¥896,556,108.93 in 2021, an increase of 11.36% compared to ¥805,077,849.49 in 2020[58] - Investment cash inflow surged by 370.20% to ¥382,451,725.31 in 2021 from ¥81,338,329.98 in 2020, mainly due to real estate sales[58] - The net increase in cash and cash equivalents reached ¥337,392,223.70 in 2021, a significant increase of 135,352.29% compared to a decrease in 2020[58] - The company achieved a profit from asset disposal amounting to ¥215,865,743.24, accounting for 55.11% of total profit[61] Risks and Challenges - The company faces risks related to industry demand slowdown, raw material price fluctuations, and potential bad debts from accounts receivable[6] - The company faces risks including potential slowdowns in industry demand and fluctuations in raw material prices, which could impact profitability[84][85] - The company has received lawsuits from investors totaling CNY 24.29 million due to administrative penalties, with expected losses around CNY 2 million[87] Corporate Governance - The company maintains independence from its controlling shareholder, Dongli Holding Group, in terms of business, assets, personnel, and finance[93] - The company has established a complete and independent business structure, with no reliance on shareholders or related parties[93] - The company has a clear asset ownership structure, with all necessary operational assets independently owned and controlled[93] - The company has a complete organizational structure with independent operation of the shareholders' meeting, board of directors, and supervisory board[94] - The company has no significant discrepancies between its governance practices and the regulations set by the China Securities Regulatory Commission[92] Shareholder Information - The company has engaged in significant shareholder changes, with multiple shareholders releasing their limited shares[182] - The largest shareholder, Dongli Holding Group, holds 26.03% of the shares, totaling 138,500,000 shares[185] - The company reported a decrease of 17,655,542 shares from Shenzhen Innovation Investment Group, which is now at 0 shares[182] - The company has a total of 473,930,157 unrestricted shares, representing 89.06% of the total shares[180] Community Engagement - A total of 1.5 million RMB was contributed to the Fenghui Education Fund to support local education initiatives in 2021[135] - The company has established a charity fund to assist impoverished communities and has been recognized for its contributions during the COVID-19 pandemic[134] Legal Matters - The company is involved in ongoing legal proceedings related to financial disputes with multiple parties[154] - The company faced a penalty of RMB 300,000 for violations related to information disclosure[155] - The company has been warned and fined for violations involving several of its directors, with fines totaling RMB 30,000 for each individual involved[155] Future Outlook - The company aims to leverage opportunities from new infrastructure construction and the dual circulation development pattern, focusing on high value-added products and smart manufacturing[82] - The company projects that the market size of the reducer industry in China will grow at a rate of 5% annually, exceeding CNY 160 billion by 2026[80] - The company’s future outlook includes potential market expansion and new product development strategies[1]