成飞集成(002190) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 1,268,117,581.97, representing a 28.91% increase compared to CNY 983,749,274.02 in 2020[25] - The net profit attributable to shareholders for 2021 was CNY 55,728,438.41, a decrease of 53.12% from CNY 118,882,515.61 in 2020[25] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 31,313,177.21, which is a 12.18% increase from CNY 27,913,279.47 in 2020[25] - The basic earnings per share for 2021 was CNY 0.1553, down 53.14% from CNY 0.3314 in 2020[25] - The total assets at the end of 2021 were CNY 7,180,109,089.00, a 102.36% increase from CNY 3,548,168,203.72 at the end of 2020[27] - The net assets attributable to shareholders at the end of 2021 were CNY 5,424,385,495.27, reflecting a 113.32% increase from CNY 2,542,818,053.77 at the end of 2020[27] - The net cash flow from operating activities for 2021 was CNY 49,839,153.84, a decrease of 53.33% compared to CNY 106,787,247.54 in 2020[25] - The weighted average return on net assets for 2021 was 1.40%, down from 4.65% in 2020[27] Revenue Breakdown - The company's operating income for Q1, Q2, Q3, and Q4 are CNY 209,872,766.93, CNY 278,483,787.18, CNY 391,752,780.76, and CNY 388,008,247.10 respectively[33] - The net profit attributable to shareholders for Q1, Q2, Q3, and Q4 are CNY 1,435,826.97, CNY 7,380,504.31, CNY 32,116,495.38, and CNY 14,795,611.75 respectively[33] - The sales revenue from tooling and automotive parts business was CNY 1,090.73 million, up 28.25% year-on-year, driven by increased customer orders[56] - The aerospace parts business generated sales revenue of CNY 161.38 million, a 34.06% increase, attributed to higher order volumes and capacity release from the new aviation industrial park[56] - Revenue from automotive parts and tooling accounted for 86.01% of total revenue, amounting to ¥1,090,733,365.40, with a year-on-year growth of 28.25%[62] Gross Margin and Costs - The company’s gross margin was 18.00%, an increase of 1.69 percentage points compared to the previous year[56] - The gross margin for aerospace parts was 32.99%, up 10.64 percentage points, due to improved pricing strategies and increased sales volume diluting fixed costs[56] - The gross margin for tooling and automotive parts was 15.25%, an increase of 0.37 percentage points, benefiting from reduced labor costs and scrap rates through enhanced automation[56] - The direct material costs increased by 47.55% year-on-year, primarily due to a significant rise in production and sales volume of automotive parts[68] Market and Industry Insights - The automotive industry in China saw production and sales of 26.27 million vehicles in 2021, marking a year-on-year increase of 3.8%[44] - The market size of China's aviation parts industry is projected to reach CNY 77.3 billion by 2025[44] - The automotive market in China is expected to reach a total sales volume of 27.5 million vehicles in 2022, with a year-on-year growth of approximately 5%[105] - The market for new energy vehicles is projected to reach 5.1 million units in 2022, representing a year-on-year increase of 38%[105] Strategic Initiatives - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares, based on a total of 358,729,343 shares[6] - The company aims to enhance product quality and reduce costs through ongoing R&D projects, including the development of flexible systems for welding robots[75] - The company plans to invest in automation production line projects and upgrade CNC equipment to improve operational efficiency[112] - The company intends to strengthen strategic partnerships with key clients in the aerospace sector to drive growth and maintain industry leadership[110] Risk Management - The company has identified market risks, cost risks, and accounts receivable risks as significant factors to monitor[6] - The company faces risks related to market uncertainty and intense competition, particularly in the automotive mold and parts market[113] - The company has implemented measures to strengthen accounts receivable recovery and risk control over the past two years, although external factors could still impact this[115] Governance and Management - The company has established a complete and independent operational structure, ensuring no interference from the controlling shareholder in its operations[123] - The company has been actively improving its governance structure and internal management systems in accordance with relevant laws and regulations[122] - The company has maintained a stable management team with no new appointments or departures reported in the latest meeting[134] - The company has not reported any significant discrepancies between its governance practices and the regulatory requirements set by the China Securities Regulatory Commission[122] Environmental Responsibility - The company has implemented effective pollution prevention measures, ensuring that pollutant emissions meet standards[185] - The company strictly adheres to environmental impact assessment requirements for new projects, ensuring compliance with national environmental laws and regulations[185] - The company has established an emergency response plan for environmental incidents, which has been reviewed and filed with local environmental authorities[185] - The company has successfully extended its environmental management system to its new branch, receiving certification from a third-party organization[185] Employee Engagement and Development - The company has implemented a training plan for new employees, management, and existing staff to enhance their skills and adaptability[165] - The company has optimized its core operational performance incentive compensation policy to enhance employee engagement and value contribution[164] - The number of R&D personnel increased by 3.41% to 212, with a stable educational structure among the team[75] Social Responsibility - The company purchased over 93,000 yuan worth of poverty alleviation products as part of its social responsibility initiatives[191] - The company actively participates in public welfare activities, contributing to community development and poverty alleviation efforts[191]