Drinda(SZ:002865)2022-03-17 16:00Business Segments and Acquisitions - The company reported a new business segment in the photovoltaic industry after acquiring 51% of Jietai Technology, adding solar cell production to its operations[9]. - The company has not experienced any changes in its major business operations since its listing, except for the recent acquisition[9]. - The company acquired 51% of Jietai Technology, entering the photovoltaic industry and establishing a dual main business model of "photovoltaic cells + auto parts"[19]. - The company successfully acquired 51% of Jietai Technology, marking its entry into the photovoltaic industry[37]. - The main business now includes photovoltaic cell production following the acquisition of Jietai Technology[47]. - The company plans to focus on the photovoltaic battery business, aiming to achieve mass production of N-type TOPCon products and expand production capacity from 8.2 GW to 8.5 GW for PERC products and 8 GW for N-type TOPCon products in 2022[77][78]. Financial Performance - The company's operating revenue for 2021 was ¥2,863,387,814.89, an increase of 233.54% compared to ¥858,474,941.70 in 2020[12]. - The net profit attributable to shareholders for 2021 was -¥178,635,689.37, representing a decrease of 1,418.69% from ¥13,546,420.99 in 2020[12]. - The net cash flow from operating activities for 2021 was ¥580,963,951.79, a significant increase of 1,051.61% compared to ¥50,447,966.68 in 2020[12]. - The total assets at the end of 2021 were ¥6,015,210,593.65, an increase of 223.82% from ¥1,857,557,669.51 at the end of 2020[12]. - The basic earnings per share for 2021 was -¥1.35, a decrease of 1,327.27% from ¥0.11 in 2020[12]. - The company reported a total net profit loss of -¥180,756,886.40 after deducting non-recurring gains and losses for 2021[12]. - The company achieved a net profit of 22,526.58 million RMB in 2021, exceeding the performance commitment of 21,000 million RMB by 1,432.69 million RMB, resulting in a completion rate of 106.82%[151]. Market Outlook and Growth - The company expects significant growth in the global photovoltaic market, with a forecasted increase in installed capacity from 2022 to 2030[21]. - In 2021, China's newly installed photovoltaic capacity reached 54.88 GW, a year-on-year increase of 13.9%, maintaining its position as the world's largest for nine consecutive years[22]. - The cumulative installed photovoltaic capacity in China surpassed 300 GW in 2021, continuing to lead globally for seven years[22]. - The company plans to build a 16 GW high-efficiency solar cell production project, with the first phase of 8 GW expected to commence production in 2022[39]. - The company aims to divest its underperforming automotive trim business to focus on the photovoltaic cell segment, thereby improving overall profitability and company value[40]. Research and Development - The company has a strong focus on R&D, achieving breakthroughs in N-type TOPCon battery production and technology[32]. - The company’s photovoltaic cell business operates under its subsidiary, which focuses on R&D, production, and sales of solar cells, achieving international leading levels in PERC and monocrystalline solar cells[28]. - The average conversion efficiency of N-type TOPCon cells is projected to reach 25.6% by 2030, indicating significant technological advancements[23]. - The company has implemented a comprehensive quality control system based on ISO/TS16949 standards to meet customer requirements[35]. - The company plans to increase R&D investment to enhance technology and product capabilities, including upgrading existing production lines from 166mm to 182mm PERC[78]. Corporate Governance - The financial report was confirmed to be accurate and complete by the company's management, including the CEO and accounting head[2]. - The company maintains complete independence from its controlling shareholder in terms of business, assets, personnel, finance, and organization[84]. - The company has a complete and independent R&D capability, not relying on the controlling shareholder[85]. - The board of directors consists of 9 members, including 3 independent directors, and convened 24 meetings during the reporting period[83]. - The company emphasizes the importance of board meetings in driving strategic initiatives and responding to market changes[109]. Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares for the year[2]. - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, ensuring timely and accurate information disclosure[137]. - The company has a clear profit distribution policy to ensure reasonable returns for all shareholders[137]. - The company reported a participation rate of 63.60% in the first extraordinary general meeting of 2021[87]. - The company has committed to achieving net profits of no less than 210 million, 270 million, and 310 million CNY for the years 2021, 2022, and 2023 respectively, totaling a minimum of 790 million CNY[140]. Legal and Compliance Issues - The company is involved in a lawsuit with Rongcheng Huatai Automobile Co., Ltd. regarding a contract dispute, with a claim amount of 4,784,485.51 CNY[156]. - The company has also filed a lawsuit against Hunan Leopard Automobile Co., Ltd. for overdue payment of 9,592,409 CNY, with interest calculated at 4.35%[157]. - The company has incurred arbitration fees totaling 27,449 CNY, which Hunan Leopard Automobile Co., Ltd. is required to pay[157]. - The company reported no violations regarding external guarantees during the reporting period[153]. - The company has not faced any administrative penalties or criminal investigations related to insider trading in the last three years[142]. Environmental and Social Responsibility - The company emphasizes the importance of environmental protection and safety production management, with no major safety incidents reported in 2021[137]. - The company has established emergency response plans for environmental incidents, which were filed for record on March 25, 2021[133]. - The company has committed to reducing carbon emissions and improving resource utilization efficiency[137]. - The company actively engages in social responsibility, promoting green operations and sustainable development[137]. - The company has not initiated any poverty alleviation or rural revitalization projects in the reporting period[139].