CREAT(SZ:002350)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was ¥2,333,181,209.67, representing a 6.88% increase compared to ¥2,182,895,355.92 in 2020[22]. - The net profit attributable to shareholders for 2021 was ¥108,522,656.91, a significant increase of 98.13% from ¥54,774,563.67 in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥72,391,619.66, up 59.83% from ¥45,293,587.80 in 2020[22]. - The net cash flow from operating activities for 2021 was ¥120,773,672.26, an increase of 8.45% compared to ¥111,365,786.06 in 2020[22]. - The basic earnings per share for 2021 was ¥0.2001, reflecting a 95.60% increase from ¥0.1023 in 2020[22]. - The total assets at the end of 2021 were ¥3,452,723,120.48, a 4.08% increase from ¥3,317,373,546.47 at the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were ¥1,932,650,752.10, up 3.71% from ¥1,863,426,781.77 at the end of 2020[22]. - The weighted average return on net assets for 2021 was 5.72%, an increase from 3.01% in 2020[22]. - The gross profit margin was 20.96%, a decrease of 0.91 percentage points compared to the previous year[53]. - The company reported a significant increase in overseas sales, with a gross profit margin of 47.48% for international operations[62]. Dividend Policy - The company plans to distribute a cash dividend of 0.10 yuan per 10 shares (including tax) to all shareholders[5]. - The cash dividend for 2021 is proposed at CNY 0.10 per 10 shares, with a total cash dividend amount of CNY 5.37 million, and an additional CNY 19.99 million through other means, totaling CNY 25.36 million[190]. - The total distributable profit for the year is CNY 373.53 million, with the total cash dividend (including other means) accounting for 100% of the profit distribution[190]. - The cash dividend policy mandates a minimum distribution of 10% of the available profit for the year, with a cumulative distribution of at least 30% over the last three years[181]. - The company aims for a cash dividend ratio of at least 80% for mature companies without significant capital expenditure plans[182]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5]. - The report includes a section on risk factors and countermeasures for future development[5]. - The company has established a risk management system for derivative transactions, ensuring that the scale of hedging aligns with actual production needs[97]. - The independent directors believe that the hedging activities are necessary to mitigate market risks associated with raw material price fluctuations[97]. - The company has implemented measures to control risks associated with market volatility and liquidity in futures trading[96]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management[4]. - The report outlines the company's governance structure and responsibilities[4]. - All directors attended the board meeting to review the report[5]. - The company has a structured board of directors with independent members, ensuring compliance with governance standards[126]. - The company has implemented a robust internal audit system to enhance operational compliance and protect shareholder interests[132]. Market Strategy and Expansion - The company is focused on developing new technologies and expanding its market presence[13]. - The company aims to expand its market presence in the renewable energy sector, driven by the national "dual carbon" strategy and the push for carbon neutrality in the power industry[36]. - The company plans to leverage the investment plans of State Grid and Southern Power Grid, which are projected to invest approximately ¥670 billion and ¥320 billion respectively during the 14th Five-Year Plan period[35][36]. - The company is actively exploring new energy business opportunities, including distributed photovoltaic power stations and integrated energy services[43]. - The company is pursuing new business opportunities in renewable and integrated energy sectors through acquisitions and partnerships, with an emphasis on risk management[115]. Research and Development - The company is developing a new series of distributed DTU products to replace the previous generation, aiming for a cost reduction of over 10%[74]. - The company plans to expand its product line in the renewable energy sector, including the development of a low-voltage photovoltaic micro-inverter[75]. - R&D expenses were ¥87,727,190.72, down 6.82% from the previous year[73]. - Total R&D investment amounted to ¥104,164,330.79, a decrease of 4.52% year-on-year[75]. - The company has obtained 48 new intellectual property rights during the reporting period, including 2 invention patents and 21 utility model patents[57]. Employee and Management Structure - The total number of employees at the end of the reporting period was 1,761, with 887 in the parent company and 874 in major subsidiaries[178]. - The professional composition includes 607 production personnel, 240 sales personnel, 505 technical personnel, and 148 management personnel[178]. - The company has established a competitive salary incentive system, continuously optimizing performance management and enhancing employee motivation[179]. - The training program for 2021 focused on enhancing employee skills and leadership capabilities, significantly improving work style and organizational atmosphere[180]. - The company has a total of 15 subsidiaries, including wholly-owned and controlling subsidiaries, indicating a strong market presence[162]. Strategic Acquisitions - The company signed a major acquisition agreement for Beijing Keri Green Energy Technology Co., with a purchase cost of ¥7,304,300.00, acquiring 100% equity[68]. - The company completed the acquisition of Beijing Kairui New Energy Technology Development Co., Ltd. with an investment of 100,000,000.00 CNY, holding a 100% stake[91]. - The company has appointed several independent directors, contributing to governance and oversight[166]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 200 million allocated for potential deals[152]. Financial Health and Investments - The net cash flow from investment activities was -¥150,096,582.72, a significant decrease of 349.98% from -¥33,356,001.29 in the previous year, primarily due to payments for equity transfers and investments[77]. - The company has made a significant equity investment of CNY 135,000,000.00, acquiring a 13.50% stake in a new energy investment fund[90]. - The company has restricted cash of CNY 42,364,111.91, primarily due to guarantees for bank acceptance bills and futures margin[87]. - The total financial assets at the end of the period amounted to CNY 189,407,894.30, with a significant increase from the beginning of the period's CNY 103,169,649.01[85]. - The company reported a net profit increase of approximately 41.80 million yuan due to the fair value changes of its investment in Beijing Guoding Jun'an Tianxia Equity Investment Partnership[105].