Heshun Electric(300141)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was CNY 325,031,340.50, a decrease of 38.25% compared to CNY 526,364,149.72 in 2020[20] - The net profit attributable to shareholders in 2021 was CNY 8,996,966.18, a significant increase of 115.27% from a loss of CNY 58,920,350.81 in 2020[20] - The net cash flow from operating activities reached CNY 71,156,487.84, representing a 301.85% increase from CNY 17,707,096.12 in the previous year[20] - Basic earnings per share for 2021 were CNY 0.04, compared to a loss of CNY 0.23 in 2020, marking a 117.39% improvement[20] - The total assets at the end of 2021 amounted to CNY 1,025,392,973.35, reflecting a 2.08% increase from CNY 1,004,499,411.76 at the end of 2020[20] - The net assets attributable to shareholders were CNY 675,640,871.95 at the end of 2021, up by 1.35% from CNY 666,643,905.77 in 2020[20] - The company reported a net profit of 475,076.21 yuan for the year 2021, a significant decrease from 2,501,710.68 yuan in 2020, reflecting a decline of approximately 81%[27] - The company's revenue from non-recurring gains and losses was impacted by a loss of 479,036.27 yuan in 2021, compared to a gain of 2,804,580.01 yuan in 2020[26] Revenue Breakdown - The electric power equipment business generated revenue of ¥231,146,843.40, accounting for 71.12% of total revenue, with a year-on-year growth of 22.89%[49] - The photovoltaic power generation business achieved revenue of ¥19,288,485.49, making up 5.93% of total revenue, with a year-on-year increase of 396.17%[49] - The EPC business reported revenue of ¥18,586,529.28, which constituted 5.72% of total revenue, experiencing a year-on-year decline of 93.58%[49] - The charging pile business generated revenue of ¥32,065,493.34, representing 9.87% of total revenue, with a year-on-year decrease of 2.21%[49] - The revenue from the installation and construction business was ¥18,586,529.28, accounting for 5.72% of total revenue, down 93.58% year-on-year[52] - The revenue from anti-theft electric energy metering totaled ¥10,699,648.42, reflecting a 20.07% increase[64] Investment and Assets - The company has obtained a total of 141 patents, including 19 invention patents and 87 utility model patents, enhancing its product competitiveness[42] - The company acquired full ownership of Zaozhuang Leyi Green Xiaodian Power Technology Co., Ltd., which is expected to enhance its investment and development in the photovoltaic new energy business[97] - The company’s fixed assets increased to ¥270,864,588.7, which is 26.42% of total assets, up from 23.33%, reflecting a growth of 3.09%[87] - The company’s investment in long-term equity increased to ¥18,607,775.24, accounting for 1.81% of total assets, up from 1.21%, an increase of 0.60%[87] Research and Development - The company’s R&D investment amounted to ¥18,490,364.09 in 2021, representing 5.69% of total revenue, an increase from 5.40% in 2020[78] - The number of R&D personnel decreased by 15.09% to 45, with the proportion of R&D personnel in the total workforce dropping to 20.09% from 22.36% in 2020[78] - The company has developed a new intelligent charging system aimed at improving the acceptance capacity of charging stations, particularly in older residential areas[77] - The company has filed for a utility model patent for a new type of electric vehicle charging pile, indicating ongoing innovation in product development[77] Market and Business Strategy - The company aims to expand its business in the photovoltaic sector, leveraging the government's support for distributed photovoltaic development, which is expected to enhance market competitiveness[33] - The company plans to enhance its electric vehicle charging infrastructure to meet the anticipated demand for over 20 million electric vehicles by the end of the 14th Five-Year Plan[36] - The company is positioned to benefit from the increasing demand for power distribution and energy quality improvement solutions as the industry continues to grow[32] - The company is focusing on optimizing its power equipment business, electric vehicle charging stations, and photovoltaic power plants through external investments to align with industry development and customer needs[111] Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of minority shareholders' rights[115] - The board of directors consists of 7 members, including 3 independent directors, meeting legal and regulatory requirements[116] - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[117] - The company emphasizes effective communication with investors to enhance their understanding and recognition of the company[118] Employee and Social Responsibility - The total number of employees at the end of the reporting period was 224, with 146 in the parent company and 78 in major subsidiaries[148] - The company implemented salary adjustments during the reporting period to retain key talent and enhance employee satisfaction[150] - The company has invested 588,000 yuan in social security for 19 registered disabled employees during the reporting period[170] - The company is committed to environmental protection and sustainable development, focusing on building a resource-saving and environmentally friendly enterprise[168] Risks and Challenges - The company faces risks from policy changes that could impact production and operations, necessitating close monitoring of national energy policies[107] - Increased accounts receivable due to client financial pressures poses a risk, with measures in place to strengthen credit management and client assessments[108] - The competitive market environment may lead to price-based bidding, risking profit margins, prompting the company to enhance service quality and explore new markets[109] Future Outlook - For 2022, the company aims to strengthen its product development in smart grids and new energy charging systems, targeting rapid growth compared to 2021[99] - The company plans to enhance R&D efforts for power equipment and fast-charging technology, focusing on the integration of new energy and power distribution[100] - The company will explore external mergers and acquisitions to enhance competitiveness and operational efficiency in 2022[105]