YILIDA(SZ:002686)2022-04-01 16:00Financial Performance - The company achieved a significant increase in revenue, reflecting a strong demand for its products in the market[17]. - The company's operating revenue for 2021 was ¥1,906,437,017.09, representing a 28.45% increase compared to ¥1,484,180,849.78 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥43,096,598.82, a significant increase of 71.67% from ¥25,104,964.02 in 2020[21]. - The total operating revenue for the company reached CNY 1.906 billion, representing a 28.45% increase compared to CNY 1.484 billion in the previous year[52]. - The company's total revenue for 2021 was CNY 1,905,456,017.09, representing a 28.45% increase compared to CNY 1,484,180,849.78 in 2020[53]. - The company reported a net profit of ¥5,318,121.01 in Q1 2021, which decreased to a loss of ¥33,241,179.61 in Q4 2021 for the net profit excluding non-recurring items[26]. - The company reported a total revenue of 551,429,800 CNY for the year 2021, with a net profit margin of 90.77%[87]. - The net profit for the year was 150 million CNY, which is a 20% increase compared to the previous year[118]. Cash Flow and Financial Position - The net cash flow from operating activities decreased by 88.88% to ¥11,456,516.35 in 2021, down from ¥103,017,646.14 in 2020[22]. - Operating cash inflow rose by 24.54% to ¥1,567,090,802.82, while operating cash outflow increased by 34.65% to ¥1,555,634,286.47[70]. - Net cash flow from financing activities decreased by 184.56% to -¥244,473,794.51, primarily due to the absence of funds from a previous private placement[72]. - Total assets at the end of 2021 were ¥2,923,732,275.15, a decrease of 14.46% from ¥3,418,012,138.43 at the end of 2020[22]. - Total assets at the end of 2021 included cash and cash equivalents of ¥204,277,297.01, down from ¥673,217,251.14 at the beginning of the year[73]. Business Expansion and Acquisitions - The company expanded its business scope to include the production, research, and sales of automotive parts and charging devices for new energy vehicles, in addition to its core wind turbine products[20]. - The company completed the acquisition of 100% equity in Iron City Information, which became a wholly-owned subsidiary, enhancing its operational capabilities[20]. - The company has established production bases in Taizhou, Jiangsu, Guangdong, and Tianjin for central air conditioning fans, with a direct sales model for domestic sales[41]. - The company’s market expansion includes partnerships with major clients such as SAIC-GM-Wuling and Dongfeng Liuzhou, enhancing its automotive component business[49]. Research and Development - The company plans to continue investing in research and development for new products and technologies to maintain competitive advantage[17]. - Research and development expenses rose by 23.84% to CNY 100,596,710.03, compared to CNY 81,230,200.88 in 2020[66]. - R&D investment increased by 23.80% to ¥116,460,155.22 in 2021, accounting for 6.11% of operating revenue[68]. - The company is focusing on the development of new energy vehicle charging technologies, including bidirectional inverter technology for vehicle-to-grid applications[68]. Market Trends and Industry Insights - The total sales amount of central air conditioning in China reached 123.2 billion yuan in 2021, representing a year-on-year growth of 25.4%[33]. - The sales volume of new energy vehicles in China reached 3.521 million units in 2021, a year-on-year increase of 157.5%[39]. - The penetration rate of new energy passenger vehicles in the domestic retail market was 15.53% in 2021, an increase of 9.34 percentage points year-on-year[39]. - The demand for central air conditioning fans is driven by the growth of downstream industries, export market expansion, and the need for maintenance and upgrades[34]. Corporate Governance and Management - The company operates independently from its controlling shareholders, with a complete and autonomous business structure[105]. - The company has established a comprehensive independent personnel management system, ensuring that all employees, including senior management, are solely employed by the company[106]. - The company has a clear asset ownership structure, with no encroachment from controlling shareholders, and possesses all necessary production-related assets[107]. - The company has a board of directors consisting of 9 members, including 3 independent directors[112]. Environmental and Social Responsibility - The company is committed to environmental protection and has implemented measures to improve energy efficiency in its products[146]. - The company has committed to social responsibility and will continue to support community development and charity initiatives[148]. - The company emphasizes adherence to labor laws and employee rights, focusing on health, safety, and satisfaction[147]. Legal Matters and Compliance - The company is currently in the process of enforcing a court ruling regarding the performance compensation[156]. - The company filed a lawsuit against Dai Mingxi for performance compensation of RMB 128,313,067.33 due to unmet performance targets for 2019 and 2020[156]. - The company has ongoing litigation that may impact its profits, but the exact effect remains uncertain[165]. - The company has reported no significant sales returns during the reporting period[168].