JTL(SZ:300091)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,754,853,936.25, representing a 22.20% increase compared to ¥1,436,058,154.28 in 2020 [28]. - The net profit attributable to shareholders decreased by 66.13% to ¥19,863,009.04 in 2021 from ¥58,648,917.33 in 2020 [28]. - The net cash flow from operating activities was negative at ¥-133,850,028.61, a decline of 190.69% compared to ¥-46,045,138.93 in 2020 [28]. - The total assets increased by 9.85% to ¥6,715,625,312.24 at the end of 2021 from ¥6,113,267,841.68 at the end of 2020 [28]. - The net assets attributable to shareholders rose by 32.24% to ¥3,272,147,039.05 at the end of 2021 from ¥2,474,314,957.60 at the end of 2020 [28]. - The basic earnings per share decreased by 71.70% to ¥0.0135 in 2021 from ¥0.0477 in 2020 [28]. - The company achieved a total revenue of 1,403,392,916 CNY in 2021, representing a significant increase compared to 1,073,151,385 CNY in 2020, indicating a growth rate of approximately 30.67% [81]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2021, representing a year-over-year increase of 15% [151]. - The company reported a total revenue of 213.27 million for the reporting period [154]. Research and Development - The company plans to increase its R&D investment to maintain its leading position in the domestic market for fluid machinery products, particularly in the development of small gas turbines [9]. - Research and development expenses increased by 20.21% to ¥69.72 million, primarily due to increased investment in R&D projects [86]. - The company completed the design of a 3MW gas turbine mobile power station, aiming to enter the procurement phase in 2022 [94]. - The company is developing a new snow removal vehicle blower, which is expected to generate stable sales from specific customers [90]. - The company has developed a high-efficiency steam turbine with independent intellectual property rights, which is applied in biomass power generation and waste heat recovery [55]. - The company is focusing on the development of new technologies and products to meet the growing demand for energy efficiency and waste heat recovery solutions [92]. - The company is committed to increasing R&D investment, particularly in small gas turbine technology, to maintain its technological leadership in the domestic market [132]. Market Expansion and Strategy - The company is focusing on enhancing its project execution capabilities in biomass power generation and energy recovery, which requires strong project management and funding capabilities [8]. - The company is actively developing new products such as fuel cell air compressors and small gas turbines, aiming to transition from a manufacturing entity to a system integrator and project operator [42]. - The company is expanding its market presence, tracking over 40 projects in the thermal power and metallurgy industries [61]. - The company aims to expand its market share by enhancing the competitiveness of its compressor products through innovative research and development [91]. - The company plans to expand its market presence by entering new regions, targeting a 20% increase in market share over the next two years [160]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position, with a focus on companies in the technology sector [158]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025 [165]. Financial Management and Governance - The company has established a stable supplier list and conducts regular evaluations based on quality, price, delivery timeliness, and financial status [49]. - The company has implemented a cost-saving initiative that saved over 10 million yuan throughout the year [68]. - The company has optimized its internal management by enhancing financial control and integrating subsidiaries' assets and organizational structures [66]. - The company has established an independent financial department with a complete financial accounting system, ensuring no interference from controlling shareholders in financial decisions [147]. - The company has a remuneration decision-making process that involves approval from the board of directors and shareholders [178]. - The company has a clear and complete ownership of its assets, including land, factories, and equipment, ensuring no asset occupation by controlling shareholders [146]. - The company has a complete and independent supply, production, and sales system, demonstrating its autonomous research, production, and operational capabilities [148]. Risks and Challenges - The company reported a significant increase in accounts receivable, which poses a risk to cash flow due to extended collection periods, with accounts receivable accounting for a high proportion of total assets [6]. - The company is aware of the risks associated with its fundraising projects, which may lead to increased fixed asset depreciation and potential underutilization of expanded capacity if market development is insufficient [11]. - The company faces risks related to project execution, including potential delays and financial risks due to cash flow constraints [131]. - The company acknowledges the risks associated with the long R&D cycles and high costs of developing advanced fluid machinery products [132]. - The company is focusing on strict credit approval processes to mitigate accounts receivable risks, which currently represent a significant portion of total assets [129]. Corporate Governance - The company held 1 annual general meeting and 3 extraordinary general meetings during the reporting period, ensuring all resolutions were passed legally and effectively [142]. - The board of directors consists of 9 members, including 3 independent directors, and held 8 meetings, passing 49 resolutions [143]. - The supervisory board has 5 members, including 2 employee supervisors, and convened 6 meetings, passing 22 resolutions during the reporting period [143]. - The company emphasizes the importance of investor relations management, ensuring accurate and timely information disclosure [144]. - The company has no significant differences in governance compared to the regulations set by the China Securities Regulatory Commission [145]. - The company has been involved in various corporate governance matters, including the appointment of directors and supervisors across multiple affiliated companies [175]. Environmental and Social Responsibility - The company is committed to supporting ecological civilization construction and reducing greenhouse gas emissions through its energy-efficient products and services [44]. - The company is committed to green development and aims to meet national carbon neutrality goals through advanced technology and project construction [126]. - The company is focused on sustainability initiatives, aiming to reduce carbon emissions by 15% over the next three years [161].