苏常柴B(200570) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 2,452,430,515.60, representing a 6.79% increase compared to CNY 2,296,464,711.24 in 2020[24] - The net profit attributable to shareholders in 2021 was CNY 103,006,232.54, a significant increase of 96.46% from CNY 52,432,443.05 in 2020[24] - The basic earnings per share for 2021 was CNY 0.1657, up 77.41% from CNY 0.0934 in 2020[24] - The total assets at the end of 2021 reached CNY 4,860,382,961.26, a 22.96% increase from CNY 3,952,954,464.45 at the end of 2020[24] - The net assets attributable to shareholders increased by 35.38% to CNY 3,077,550,018.33 at the end of 2021, compared to CNY 2,273,349,347.02 at the end of 2020[24] - The company reported a weighted average return on equity of 3.86% for 2021, an increase from 2.40% in 2020[24] - The company reported a gross margin of 14.65% in the internal combustion engine sector, slightly down by 0.18% from the previous year[53] - The company reported a significant increase in revenue, with a year-on-year growth of 15% in 2021[98] Cash Flow and Investments - The cash flow from operating activities showed a negative net amount of CNY -266,323,779.30 in 2021, compared to a positive CNY 251,796,654.53 in 2020[24] - Operating cash inflow decreased by 17.66% to ¥1,878,728,640.47 in 2021 from ¥2,281,623,334.91 in 2020, while cash outflow increased by 5.68% to ¥2,145,052,419.77[64] - Investment cash inflow decreased by 31.75% to ¥385,966,151.68 in 2021, while investment cash outflow increased by 18.54% to ¥851,480,343.34[65] - The company raised ¥634,999,936.40 through a private placement of 144,318,181 shares, resulting in a net cash inflow of ¥620,665,733.97 from financing activities[65] Sales and Market Performance - The total sales volume of internal combustion engines in 2021 reached 50.47 million units, representing a year-on-year growth of 7.82%[35] - Diesel engine sales totaled 6.11 million units in 2021, a decline of 3.67% compared to the previous year, while gasoline engine sales increased by 9.67% to 44.35 million units[35] - The company sold a total of 749,300 diesel and gasoline engines in 2021, generating sales revenue of 2.452 billion yuan, an increase of 6.79% compared to the previous year[46] - Domestic sales accounted for ¥2,038,317,678.97, or 83.11% of total revenue, with a growth of 6.00% year-on-year[51] Research and Development - The company is committed to R&D driven by market demand, ensuring that new products align with customer feedback and market trends[38] - The company has filed 22 patents during the reporting period, with 19 patents granted, bringing the total to 152 authorized patents, including 12 invention patents[44] - Research and development expenses increased by 14.02% to ¥82,390,284.14, reflecting the company's commitment to innovation[59] - The company is developing several new products, including a silent variable frequency generator and a hybrid diesel-electric engine, to meet market demands and regulatory requirements[60] Corporate Governance and Management - The company has established a complete set of internal control systems covering financial asset control, human resource management, quality environment management, and internal audit supervision[103] - The governance structure of the company complies with relevant laws and regulations, ensuring the protection of the rights and interests of all shareholders[103] - The company has a dedicated financial department with an independent accounting system and financial management practices, ensuring no interference from the controlling shareholder in financial activities[104] - The company has independent directors, including Wang Mancang, Xing Min, and Zhang Yan, each receiving CNY 10 million in remuneration[117] Future Outlook and Strategic Initiatives - The company aims to achieve a sales revenue of 2.3 billion yuan in 2022, with a focus on ensuring the launch of 10,000 new products[91] - The company is focusing on high-end products that are intelligent, connected, and electronic, integrating advanced technologies such as big data and artificial intelligence[90] - The company is planning to relocate its manufacturing base to optimize operational efficiency and support future growth[29] - The company is actively developing new energy projects, including lithium battery separator projects, to enhance its market position[29] Risks and Challenges - The company is facing market risks due to low grain prices and changing user demand, which has shifted from rigid demand to stock updates[91] - The company acknowledges the risk of raw material price fluctuations and aims to improve operational efficiency through better inventory and cost management[92] - The company is implementing measures to mitigate the impact of rising raw material prices, including a cost reduction strategy projected to save 50 million yuan annually[98] Shareholder Engagement and Dividends - The company plans to distribute a cash dividend of CNY 0.26 per 10 shares, based on a total of 705,692,507 shares[7] - The company approved a cash dividend of 0.26 yuan per 10 shares (including tax), with a total cash dividend amounting to 18,348,005.18 yuan, representing 100% of the profit distribution[131] - The company has increased its shareholder base, indicating growing investor interest and confidence in its business strategy[29] Compliance and Regulatory Matters - The company is focused on maintaining compliance with legal and regulatory requirements, as evidenced by the revisions to various internal policies and procedures[119] - The company has not faced any administrative penalties due to environmental issues during the reporting period[143] - The company has not reported any significant discrepancies in its governance practices compared to regulatory requirements[103]