SKGF(SZ:002633)2022-04-21 16:00Financial Performance - The company's operating revenue for 2021 was ¥212,172,364.80, representing a 24.93% increase compared to ¥169,833,443.61 in 2020[22]. - The net profit attributable to shareholders was -¥11,615,358.24, an improvement of 64.45% from -¥32,675,224.04 in the previous year[22]. - The basic earnings per share were -¥0.0774, showing a 64.46% improvement from -¥0.2178 in 2020[22]. - The total operating revenue for the year 2021 was CNY 212,172,364.80, representing a 24.93% increase from CNY 169,833,443.61 in 2020[44]. - The company reported a significant increase in revenue after deducting sales of external materials and waste, with a net revenue of ¥201,708,611.32 in 2021[22]. - The company reported a total revenue of 250 million for the year 2021, maintaining the same level as the previous year[91]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2021, representing a year-over-year increase of 12%[102]. - The company reported a total revenue of 2,111.2 million RMB, representing a growth of 1.41% compared to the previous year[168]. Cash Flow and Investments - The net cash flow from operating activities was -¥47,631,850.69, a significant decline of 619.85% compared to ¥9,162,599.90 in 2020[22]. - The net cash flow from investment activities improved to ¥6.22 million in 2021, compared to -¥49.03 million in 2020, marking a 112.68% increase[43]. - Financing activities generated a net cash flow of ¥42.86 million, up 54.10% from ¥27.81 million in 2020[43]. - The total cash inflow from operating activities was 179,600,480.07 CNY in 2021, a slight increase of 2.18% from 175,767,089.34 CNY in 2020[62]. - The total cash outflow from operating activities rose by 36.39% to 227,232,330.76 CNY in 2021, compared to 166,604,489.44 CNY in 2020[62]. Assets and Liabilities - Total assets at the end of 2021 amounted to ¥659,076,299.29, a 5.07% increase from ¥627,294,102.26 at the end of 2020[22]. - The company's equity attributable to shareholders increased to CNY 470,168,125.73 in 2021 from CNY 463,283,483.97 in 2020, showing a growth of about 1.9%[198]. - Accounts receivable rose to CNY 119,511,079.04 in 2021, compared to CNY 84,677,541.14 in 2020, representing an increase of approximately 41%[197]. - Short-term borrowings increased to ¥75,100,180.21, making up 11.39% of total assets, a rise of 6.60% due to funding shortages from expanded production capacity[65]. - Total liabilities reached CNY 188,908,173.56 in 2021, up from CNY 164,010,618.29 in 2020, which is an increase of approximately 15.2%[198]. Research and Development - Research and development expenses decreased by 15.85% to ¥10.17 million in 2021, down from ¥12.09 million in 2020[40]. - The number of R&D personnel increased by 16.28% to 50 in 2021, representing 10.18% of the total workforce, up from 8.45% in 2020[60]. - Research and development (R&D) investment decreased by 15.85% to 10,172,119.34 CNY in 2021, accounting for 4.79% of operating revenue, down from 7.12% in 2020[60]. - The company emphasizes technological innovation and has established collaborations with key universities for research and development in sliding bearings[37]. Market Position and Strategy - The company is positioned in a competitive industry dominated by eight major global players, which hold over 70% of the market share[31]. - The company aims to enhance its product quality and brand recognition to increase its market share and achieve import substitution[32]. - The company has established long-term partnerships with major clients, including Harbin Electric Group and Siemens, enhancing its customer resource quality[39]. - The company has expanded its product offerings into new markets, including marine and wind power applications, increasing its industry influence[59]. - The company plans to continue its market expansion efforts and invest in new product development to enhance competitiveness[92]. Governance and Compliance - The company has established a governance structure that includes a board of directors and supervisory board, ensuring compliance with relevant laws and regulations[83]. - The company prioritizes transparent information disclosure and investor relations management, utilizing multiple channels for communication with investors[84]. - The company emphasizes compliance with regulations and maintaining the interests of public investors[111]. - The company has a fully independent financial accounting department, with dedicated financial personnel and a strict financial management system in place[86]. Risks and Challenges - The company highlighted potential risks in its future business outlook, which investors should be aware of[6]. - Market competition risk is a concern, with increased investments from domestic competitors in advanced production technologies[78]. - The company faces risks from customer concentration, as its sales are dependent on a limited number of major clients in the electric motor and power generation sectors[78]. - The company emphasizes the importance of timely research and development of new technologies and products to meet increasing quality demands from customers, highlighting a risk of obsolescence if market trends are not accurately predicted[79]. Employee and Management Structure - The total number of employees at the end of the reporting period was 491, with 360 from the parent company and 131 from major subsidiaries[115]. - The professional composition includes 294 production personnel, 14 sales personnel, 38 technical personnel, 8 financial personnel, and 137 administrative personnel[116]. - The company has maintained a stable management structure with experienced professionals in key positions[94]. - The company experienced a change in management with the resignation of two vice presidents and one director in March and April 2021 due to personal reasons and term completion[93].