BESTWAY(SZ:300008)2024-01-16 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,390,755,630.36, representing a 165.64% increase compared to ¥523,552,744.58 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥25,970,776.33, a slight increase of 1.62% from ¥25,557,506.83 in 2020[21]. - The net profit after deducting non-recurring gains and losses was ¥15,399,264.73, which is a 182.09% increase from ¥5,458,962.49 in 2020[21]. - The total assets at the end of 2021 amounted to ¥2,450,762,071.17, reflecting a 20.12% increase from ¥2,040,268,857.54 at the end of 2020[21]. - The basic earnings per share for 2021 was ¥0.0150, down 43.18% from ¥0.0264 in 2020[21]. - The weighted average return on equity for 2021 was 1.56%, a decrease of 4.40% compared to 5.96% in 2020[21]. - The net cash flow from operating activities was -¥185,016,783.52, worsening by 43.95% from -¥128,531,902.11 in 2020[21]. - In Q4 2021, the company achieved an operating revenue of ¥530,895,670.72, contributing significantly to the annual total[23]. - The company reported a net profit of ¥6,547,061.42 in Q4 2021, recovering from a loss in Q3[23]. Market and Industry Trends - In 2021, the global shipbuilding investment reached $147 billion, with new shipbuilding investment totaling $103 billion, a year-on-year increase of 106%[31]. - China's shipbuilding completion, new orders, and hand-held orders accounted for 47.2%, 53.8%, and 47.6% of the global total respectively, with increases of 4.1, 5.0, and 2.9 percentage points compared to 2020[32]. - The shipbuilding industry is facing challenges such as labor shortages and rising material costs, while also benefiting from a recovery in global shipping markets[32]. - The international shipbuilding market is experiencing a recovery, but external uncertainties, including geopolitical tensions and rising costs, pose challenges to sustained business expansion[7]. Business Strategy and Development - The company plans to enhance its research and development efforts across its three main business segments to improve core competitiveness and ensure stable growth[8]. - The company aims to adjust its product structure and enhance management capabilities to mitigate risks associated with market cycles and currency fluctuations[6]. - The company has established a competitive shipbuilding engineering EPC business model, which has rapidly gained market recognition[37]. - The company is actively expanding its defense equipment and energy business segments alongside its shipbuilding operations, showing a positive development trend[37]. - The company is committed to promoting and utilizing new energy vessels, with its subsidiary Dajin Heavy Industry recognized as a demonstration unit for LNG-powered vessels by the Ministry of Transport[7]. - The company has entered into a partnership with Nanhua Industrial to expand into ship automation and smart port businesses, creating synergies with existing military products[7]. Research and Development - The company has a strong technical R&D team that has participated in national-level research projects and key engineering projects[46]. - Research and development expenses increased by 76.03% to ¥63,253,850.03, reflecting the company's commitment to enhancing its technological capabilities in the shipbuilding market[86]. - The company increased its R&D personnel from 175 in 2020 to 245 in 2021, representing a growth of 40%[89]. - The company’s R&D investment has been consistently increasing, reflecting its commitment to innovation and market competitiveness[89]. - The company is developing a hydrogen fuel cell ship project, aiming to master key technologies and maintain its market advantage in the new energy ship sector[87]. Operational Challenges - The company faces risks from rising raw material prices and labor costs, which may impact operational performance, and plans to implement cost control measures[7]. - The company emphasizes the importance of contract management and credit assessment of shipowners to reduce the risk of order defaults[6]. - The company has reported a significant increase in material and equipment procurement costs for the marine engineering EPC business, rising by 1,781.21% to ¥595,243,749.01 in 2021 from ¥31,641,459.77 in 2020[79]. - Labor costs for the marine engineering EPC business surged by 202.97%, reaching ¥128,759,211.83 in 2021 compared to ¥42,498,404.31 in 2020[80]. Corporate Governance - The company has established a comprehensive internal control system, with clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[175]. - The company has implemented strict information disclosure practices, ensuring timely, accurate, and fair communication with all shareholders[126]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[120]. - The company has maintained independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring autonomous business capabilities[129]. Social Responsibility and Compliance - The company emphasizes compliance with legal regulations regarding related party transactions to protect the interests of Tianhai Defense and its shareholders[192]. - The company has committed to fulfilling its social responsibilities, including compliance with laws and regulations, and contributing to national fiscal revenue[185]. - The company donated RMB 50,000 and teaching materials to a primary school in Guizhou to support education in remote areas[186]. - The company focuses on environmental responsibility and has not faced any administrative penalties related to environmental issues during the reporting period[182].