BOAMAX(SZ:002514)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was ¥634,475,202.15, representing a 28.02% increase compared to ¥495,610,883.41 in 2020[19]. - The net profit attributable to shareholders of the listed company was ¥12,331,866.44, a significant turnaround from a loss of ¥389,098,467.07 in 2020, marking a 103.17% improvement[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2021 was -37,904,574.91 CNY, an improvement of 90.39% compared to -394,458,329.01 CNY in 2020[20]. - The basic earnings per share for 2021 was 0.0223 CNY, a 103.18% increase from -0.7023 CNY in 2020[20]. - The net cash flow from operating activities for 2021 was 70,352,476.79 CNY, a decrease of 8.68% from 77,040,905.55 CNY in 2020[20]. - The total assets at the end of 2021 were 1,406,057,638.99 CNY, a decrease of 4.07% from 1,465,648,369.58 CNY at the end of 2020[20]. - The company reported a weighted average return on equity of 1.97% for 2021, a significant recovery from -47.71% in 2020[20]. - Total revenue for 2021 reached ¥634,475,202.15, representing a year-on-year increase of 28.02% compared to ¥495,610,883.41 in 2020[50]. - The smart manufacturing segment generated ¥475,993,918.92, accounting for 75.02% of total revenue, with a year-on-year growth of 28.65%[50]. - The energy-saving and environmental protection segment reported revenue of ¥158,481,283.23, a 26.15% increase from the previous year[50]. Business Strategy and Focus - The company aims to enhance its position as a comprehensive service provider in the new energy industry, focusing on smart manufacturing and innovation[29]. - The company is strategically shifting resources from its environmental business to focus on intelligent equipment manufacturing and the new energy industry due to increased market competition and declining profitability in the environmental sector[31]. - The company aims to become a comprehensive service provider in the new energy industry, with a focus on photovoltaic and new energy heavy-duty vehicle battery swap sectors, creating new profit points for future development[32]. - The company is focusing on strategic transformation towards the photovoltaic and new energy vehicle battery swap industries, alongside its existing business sectors[88]. - The company plans to leverage its production technology to develop the battery swap business, targeting applications in coal mines, power plants, and logistics centers[95]. - The company aims to optimize its organizational structure and improve operational efficiency in line with its strategic transformation towards new energy and intelligent manufacturing[96]. Research and Development - The company has a research team of 181 professionals across various fields, including mechanical design, electrical engineering, and automation, focusing on innovative product development[42]. - The company holds 176 authorized patents, including 10 invention patents and 117 software copyrights, enhancing its core competitiveness and market share[43]. - The intelligent equipment manufacturing business has maintained stable growth despite market competition and economic pressures, focusing on R&D in wet chemical process equipment for solar cells and other applications[34]. - The company is committed to research and development of new products and projects, acknowledging the cyclical risks and uncertainties associated with the R&D process[106]. Governance and Compliance - The company has established a strong governance structure, ensuring compliance with relevant laws and regulations, and enhancing its internal management and information disclosure practices[112]. - The board of directors consists of 9 members, including 3 independent directors, and operates under clear responsibilities and established rules to support effective decision-making[115]. - The company emphasizes the importance of balancing the interests of stakeholders, including shareholders, employees, and suppliers, to promote sustainable and healthy development[118]. - The company has established a performance evaluation system and an annual operational goal assessment index system to objectively evaluate employee performance, which serves as a basis for determining employee compensation and promotions[119]. - The company has implemented various information disclosure management systems to ensure timely, accurate, and complete disclosure of relevant information, enhancing operational transparency for all shareholders[120]. Environmental and Social Responsibility - The company emphasizes green development and integrates sustainable practices into its production and operations[40]. - The company has taken corrective measures to enhance hazardous waste management and improve environmental compliance[184]. - The company actively participates in community service and pandemic prevention efforts, demonstrating its commitment to social welfare[186]. - The company emphasizes its commitment to social responsibility and sustainable development, focusing on providing high-quality products and services while enhancing its competitive edge[185]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports[5]. - The company is exposed to foreign exchange risks due to a certain percentage of its products being exported, and it is implementing measures such as adjusting sales terms and using forward foreign exchange contracts to mitigate these risks[107]. - Fluctuations in raw material prices, particularly for steel products, can significantly impact procurement costs and operating profits; the company is monitoring commodity prices to manage these risks[108]. - The company is undergoing a strategic transformation into the new energy and intelligent manufacturing sectors, facing risks related to the uncertainty of new business development due to policy, market, funding, and technology constraints[105]. Management Changes - The company experienced changes in its board and supervisory personnel, with several resignations and new appointments during the reporting period[132]. - The company’s chairman, Chen Dong, reduced his holdings by 5,535,000 shares, leaving him with 86,128,368 shares at the end of the period[131]. - The company has undergone significant management changes, including the election of new directors and supervisors throughout 2021[135]. - The company appointed Mr. Sheng Min as the Deputy General Manager on March 3, 2021[133]. Employee Engagement and Compensation - The company has implemented a performance management system and incentive policies to enhance employee engagement and responsibility, contributing to its strategic transformation[45]. - The company has established a competitive compensation and benefits system to support employee growth and well-being[186]. - The total remuneration for the chairman, Wang Siqi, is CNY 3.3 million, while the vice chairman and president, Zuo Yue, received CNY 9.732 million[145]. - The company has implemented a training plan to enhance employee skills and market competitiveness, including regular training sessions for various departments[170]. Subsidiaries and Investments - The company established four new subsidiaries during the reporting period, expanding its operational footprint[60]. - The company made a significant equity investment of CNY 204,443,570.90 in Suzhou Baoxin Intelligent Manufacturing Co., acquiring a 100% stake[76]. - The company has established a joint venture, Hai Jiao (Hainan) Intelligent Technology Co., Ltd., with a registered capital of RMB 20 million, where the company contributed RMB 6 million, accounting for 30%[158]. - The company completed the registration of Jiangsu Baoxin Technology Research Institute Co., Ltd. with a registered capital of RMB 30 million as part of its strategic development[159]. Related Party Transactions - The company has committed to avoiding any direct or indirect competition with its subsidiaries, ensuring business independence[190]. - The company guarantees that its assets remain independent and complete, preventing any unauthorized use of its resources by controlling shareholders[194]. - The company has outlined its commitment to fair disclosure of any unavoidable related party transactions, adhering to principles of fairness and transparency[194]. - The company has pledged to avoid any improper benefits through related party transactions, with accountability for any losses incurred due to violations of this commitment[198].