长高电新(002452) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 1,521,246,549.82, a decrease of 2.59% compared to CNY 1,561,726,498.01 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 251,497,536.03, an increase of 17.85% from CNY 213,400,031.23 in 2020[21]. - The net cash flow from operating activities reached CNY 483,774,350.99, representing a significant increase of 135.15% compared to CNY 205,726,355.13 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.4476, up 11.32% from CNY 0.4021 in 2020[21]. - The company achieved total revenue of 1.521 billion yuan in the reporting period, a decrease of 2.59% year-on-year, while net profit attributable to shareholders increased by 17.85% to 252 million yuan[40]. - The company reported a significant decrease in sales volume of 10kV switches, with a year-on-year decline of 56.86%[50]. - The company’s direct sales model accounted for 100% of total revenue, which also saw a decline of 2.59% year-on-year[46]. - The company reported a total revenue of CNY 2,133,747,788.34 from operating activities, a 43.30% increase year-on-year[67]. Dividend Distribution - The company plans to distribute a cash dividend of 0.70 CNY per 10 shares (including tax) based on the total share capital at the time of the profit distribution plan implementation[5]. - The cash dividend distribution plan for 2020 was approved, with a cash dividend of CNY 0.7 per 10 shares, totaling CNY 37,403,940[171]. - The company’s cash dividend for 2021 was CNY 43,411,695.95, with no stock dividends issued[173]. - The company maintains a cash dividend payout ratio of 100% of the total profit distribution[173]. - The company plans to distribute a cash dividend of 0.7 yuan per 10 shares to all shareholders, with an estimated total cash dividend amounting to approximately 43.41 million yuan based on a total share count of 620,167,085 shares[174]. Research and Development - The company reported a 15.18% increase in R&D expenses, totaling ¥78,288,895.63 for 2021 compared to ¥67,972,819.87 in 2020[60]. - The company has a strong R&D capability with 41 invention patents, 304 utility model patents, and 36 software copyrights as of the end of the reporting period[38]. - The company completed the research and design of 550kV GIS and 550kV tank circuit breakers, advancing the development of new products[42]. - The company has completed the R&D design for the 550kV GIS project, aiming for full type testing completion in 2022, which is expected to significantly enhance order market share[61]. - The company has initiated small-scale production for a new self-powered structure in the new neutral point equipment, which is expected to simplify the structure and enhance production efficiency[61]. - The company has developed an environmentally friendly C4 mixed gas insulated ring network cabinet, which is expected to significantly reduce greenhouse gas emissions and has a promising market outlook[61]. Market and Business Strategy - Future development outlook includes potential market expansion and strategic acquisitions to strengthen market position[5]. - The company is focusing on expanding its business scope to include electric vehicle charging infrastructure and renewable energy technologies[21]. - The company is positioned in the rapidly growing electric power industry, which is undergoing a transformation towards green and digital energy solutions[31]. - The company has made strategic adjustments to its business operations, including entering the import and export business and enhancing its engineering services[21]. - The company plans to enhance market penetration and improve order acquisition capabilities, focusing on both the State Grid and Southern Grid markets[104]. - The company aims to drive product upgrades towards higher voltage levels, green technology, and smart solutions, with a focus on developing 550kV equipment[105]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has ensured compliance with legal responsibilities by its management team[4]. - The company has established a robust governance structure to oversee its operations and ensure accountability[4]. - The company has implemented a robust corporate governance structure in compliance with relevant laws and regulations, ensuring effective operation of the shareholders' meeting, board of directors, and supervisory board[118]. - The board of directors consists of nine members, including three independent directors, ensuring a diverse range of expertise and compliance with regulatory requirements[120]. - The company has established an independent financial accounting department and a standardized financial management system, ensuring independent financial decision-making[126]. - The company has not provided guarantees for the controlling shareholder or its related enterprises during the reporting period[125]. - The company has a clear ownership structure with complete control over its assets, preventing any occupation of funds by the controlling shareholder[125]. Risk Management - The company acknowledges various risks including industry risk, market risk, and raw material price fluctuation risk, which may impact profitability[5]. - The company emphasizes risk management and internal controls, particularly in procurement and project audits, to enhance operational efficiency[107]. - The company is exposed to various risks in EPC projects, including political, currency, tax, and contract risks, and aims to mitigate these through strict project management and risk prevention strategies[111]. - The company is experiencing significant capital occupation due to increased investment in new energy projects, which poses a funding risk if capital recovery is not achieved[112]. - The company will continue to adapt to fluctuations in raw material prices by adjusting sales prices and managing inventory effectively[109]. Employee and Management Structure - The total number of employees at the end of the reporting period was 1,491, with 784 in production, 120 in sales, and 416 in technical roles[154]. - The company has a total of 25 employees with a master's degree or higher, reflecting a focus on skilled labor[155]. - The company’s salary policy emphasizes internal equity and market competitiveness, linking performance to compensation[156]. - The company has maintained a cash dividend payout ratio of 100% of the total profit distribution[173]. - The company has a diverse management team with backgrounds in engineering, finance, and sales, contributing to its operational effectiveness[134][135]. Environmental Management - The company has implemented online monitoring equipment to better track the content of pollutants in wastewater, which is now operational[197]. - New domestic wastewater treatment equipment has been added, improving treatment efficiency, and is now operational[197]. - The company has enhanced fire safety facilities in the spray painting room to improve safety performance[197]. - The addition of photocatalytic equipment to organic gas treatment facilities has significantly increased the efficiency of organic waste gas treatment, and this equipment is now operational[197]. - The company has adopted the ISO14000 environmental management system to enhance automation levels and improve the working environment[200]. - There were no administrative penalties due to environmental issues during the reporting period[199].