顺威股份(002676) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 2,132,731,420.66, representing a 23.40% increase compared to CNY 1,728,369,950.27 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 34,134,239.92, up 24.40% from CNY 27,439,170.15 in 2020[20]. - The net cash flow from operating activities increased by 64.40% to CNY 65,976,797.77 in 2021, compared to CNY 40,131,752.50 in 2020[20]. - The basic earnings per share for 2021 was CNY 0.0474, a 24.41% increase from CNY 0.0381 in 2020[21]. - Total assets at the end of 2021 were CNY 2,121,892,750.51, reflecting a 7.50% increase from CNY 1,973,794,847.64 at the end of 2020[21]. - The net assets attributable to shareholders increased by 2.41% to CNY 1,097,611,225.38 at the end of 2021, compared to CNY 1,071,775,367.20 at the end of 2020[21]. - The company reported a decrease of 29.64% in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 14,828,596.87 in 2021[20]. - The weighted average return on equity for 2021 was 3.15%, an increase from 2.59% in 2020[21]. Market Position and Strategy - The company is positioned as one of the leading manufacturers of plastic air conditioning blades, with a complete industry chain from plastic modification to intelligent manufacturing[34]. - The company aims to enhance its competitive edge through R&D in new materials and smart manufacturing technologies, focusing on high-end market segments[35]. - The company is actively expanding its product offerings and market reach, particularly in the automotive and home appliance sectors, leveraging its advanced production capabilities[35]. - The company has established a strong presence in the modified plastics sector, which is supported by favorable government policies and increasing demand across various industries[31]. - The company is expanding into high-profit growth areas such as automotive components and smart manufacturing equipment, leveraging its R&D capabilities[53]. - The company aims to accelerate its business in Southeast Asia and diversify into high-profit growth areas such as automotive precision components and smart home products[95]. Research and Development - The company has a strong R&D team with over ten years of technical accumulation, continuously responding to downstream customer needs[42]. - The company is focusing on strategic adjustments to align with future development plans, indicating a proactive approach to management and governance[121]. - The company is developing a new high-performance centrifugal fan to enhance core competitiveness[72]. - The project for optimizing the air duct of the fan is in the testing phase, aiming to improve performance[72]. - The company has completed the review of a new low-noise centrifugal fan for household use, which is expected to enhance market competitiveness[73]. Production and Operations - The company has developed advanced automation equipment for production, including ultrasonic welding machines and automated dynamic balancing machines, achieving industry-leading levels[42]. - The procurement model for major raw materials includes centralized purchasing, with AS/ABS/glass fiber accounting for 47.02% of total procurement[42]. - The main products include three types of fan blades: cross-flow, axial-flow, and centrifugal, which are critical for air conditioning performance[36]. - The company employs a "sales-driven production" model, ensuring production aligns with market demand[37]. - The company has a comprehensive supply chain advantage, integrating plastic air conditioning blade production with modified plastics and mold development[51]. Financial Management and Governance - The company has maintained a robust governance structure, ensuring compliance with relevant laws and regulations, and has conducted one shareholders' meeting and five board meetings during the reporting period[113]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring no conflicts of interest or resource occupation[115]. - The company has established a complete and independent financial management system, with dedicated financial personnel and independent bank accounts, ensuring no fund occupation by the controlling shareholder[116]. - The company has a strong emphasis on financial oversight, with newly appointed executives holding significant financial management experience[123][126]. Human Resources and Talent Development - The total number of employees at the end of the reporting period was 3,859, with 1,255 in the parent company and 2,604 in major subsidiaries[143]. - The company implemented a salary management system based on performance, ensuring competitive compensation to attract and retain talent[144]. - The company has established a talent development program to build a management talent pipeline, focusing on various business modules[146]. - The company has initiated a training program through the Shunwei Business School, offering 11 specialized courses to enhance employee skills and understanding of corporate culture[146]. Environmental and Safety Management - The company actively promotes environmental protection and has not faced any major environmental pollution incidents in 2021[162]. - The company has implemented strict internal control systems for safety management, with significant investments in safety equipment and training during the reporting period[168]. - The company has not experienced any major safety incidents during the reporting period, reinforcing its commitment to safety management[167]. - The company has adhered to environmental protection laws and has not faced any major environmental pollution incidents in 2021[168]. Challenges and Risks - The ongoing pandemic has pressured air conditioning manufacturers to demand price reductions from suppliers, impacting the company's product profitability, prompting the company to implement cost reduction and efficiency improvement measures[108]. - Raw material price fluctuations pose a direct risk to the company's profitability, as raw material costs constitute a high proportion of total costs; the company has established a price linkage mechanism with clients to mitigate cost pressures[109]. - The company faces exchange rate fluctuation risks due to its products being primarily exported to Korea, Japan, Europe, and the United States, with most transactions settled in USD, which could lead to significant foreign exchange losses[108]. Shareholder and Executive Changes - The company underwent significant management changes, with multiple executives resigning and new appointments made on January 20, 2022, as part of a strategic development plan[121]. - Zhang Fang was elected as the new chairman of the board on January 20, 2022, succeeding Mo Qiyan[121]. - The company experienced a change in its largest shareholder on December 10, 2021, prompting adjustments in the board and management[119]. - The current board includes new members appointed in January 2022, reflecting a shift in leadership[119].