NEW POWER(300152)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was ¥176,403,460.03, a decrease of 65.74% compared to ¥514,946,526.12 in 2020[18]. - The net profit attributable to shareholders for 2021 was -¥266,523,382.00, representing a decline of 2,151.53% from ¥12,991,452.14 in 2020[18]. - The net cash flow from operating activities was -¥70,465,087.14, a decrease of 187.92% compared to ¥80,150,246.88 in 2020[18]. - The total assets at the end of 2021 were ¥855,483,186.77, down 28.08% from ¥1,189,573,163.81 at the end of 2020[18]. - The net assets attributable to shareholders decreased by 34.70% to ¥489,619,140.18 at the end of 2021 from ¥749,842,522.18 at the end of 2020[18]. - The basic earnings per share for 2021 was -¥0.3739, a decline of 2,154.40% from ¥0.0182 in 2020[18]. - The weighted average return on net assets was -43.23% in 2021, down 44.94% from 1.71% in 2020[18]. - The company reported a significant drop in revenue from its main business, with the adjusted operating revenue being ¥172,382,746.48 in 2021 compared to ¥492,860,740.02 in 2020[20]. - Total revenue for 2021 was ¥176,403,460.03, a decrease of 65.74% compared to ¥514,946,526.12 in 2020[43]. - The clean combustion and boiler energy efficiency segment generated ¥168,293,987.24, accounting for 95.40% of total revenue, down 48.82% from ¥328,849,710.04 in 2020[43]. - The waste-to-energy segment's revenue was ¥8,109,472.79, representing a significant decline of 88.75% from ¥72,082,861.56 in the previous year[43]. - The company reported a gross margin of 24.79% for the energy-saving and environmental protection industry, down 5.70% from the previous year[46]. Cash Flow and Investments - The net cash flow from operating activities turned negative at -¥70,465,087.14, a decline of 187.92% compared to the previous year[64]. - Investment cash inflow dropped by 97.12% to ¥3,664,433.65, while cash outflow increased by 120.74% to ¥59,877,912.73[64]. - Net cash flow from investing activities decreased by 156.26% to -¥56,213,479.08[65]. - Financing cash inflow fell by 79.74% to ¥10,020,000.00, with cash outflow decreasing by 57.19% to ¥48,111,939.19[64]. - Total cash and cash equivalents decreased by 240.65% to -¥164,770,505.41[64]. - The total investment during the reporting period was 140 million CNY, a significant increase of 27,900% compared to 500,000 CNY in the same period last year[77]. Research and Development - The company has ongoing major R&D projects aimed at developing new combustion technologies, which are expected to enhance market share and revenue upon commercialization[59]. - R&D investment in 2021 amounted to ¥6,625,826.97, representing 3.76% of operating revenue, an increase from 2.18% in 2020[62]. - The company has reported significant investments in research and development for new technologies[86]. - The company has established a strong R&D team, enhancing its competitive edge in technology innovation[35]. - The number of R&D personnel decreased by 20% from 50 in 2020 to 40 in 2021, with a slight increase in the proportion of bachelor's degree holders[60]. Business Operations and Strategy - The company is positioned in the energy sector, with a focus on green and low-carbon transformation, aligning with national policies aimed at enhancing energy security and promoting clean energy consumption[27]. - The company aims to leverage its expertise in VOCs treatment to expand its market share in the fine chemical industry, focusing on waste gas and waste liquid treatment[29]. - The company’s main business includes energy-saving combustion, wastewater treatment, and hazardous waste management, positioning itself as a comprehensive environmental service provider[30]. - The company is actively involved in the development of low-nitrogen combustion equipment, driven by increasing environmental regulations in the petrochemical industry[29]. - The company’s strategy includes capitalizing on the growing demand for waste-to-energy projects and the renovation of existing facilities in the solid waste disposal market[29]. - The company is focused on achieving "carbon peak and carbon neutrality" goals, promoting its energy-saving and pollution control technologies in relevant regions[92]. - The company is exploring potential mergers and acquisitions to strengthen its market position[126]. Corporate Governance - The company emphasizes information disclosure, ensuring that all shareholders have equal access to information through designated media[115]. - The company maintains independence in business operations, asset ownership, personnel management, and financial decision-making from the controlling shareholder[117][118][119][121]. - The company has established a sound corporate governance structure, with clear roles and responsibilities for its decision-making bodies[120]. - The board of directors consists of 7 members, including 3 independent directors, and operates in accordance with relevant regulations[111]. - The supervisory board is composed of 3 members, including 1 employee representative, ensuring compliance with legal requirements[112]. - The company has a structured remuneration system for directors and senior management based on performance evaluations approved by the shareholders' meeting[139]. - The total remuneration for directors, supervisors, and senior management is disclosed in the annual report, ensuring transparency[139]. Environmental Compliance - The company has implemented pollution control facilities including SNCR denitrification system, semi-dry desulfurization system, activated carbon injection system, and bag filter system, all of which are operational and meet the emission standards[176]. - The company received environmental impact assessment approval in July 2009 and passed environmental acceptance inspection in February 2017[173]. - There were no administrative penalties due to environmental issues during the reporting period[177]. - The company has developed an emergency response plan for environmental incidents and filed it with the local environmental protection bureau[174]. - The company has established a monitoring plan for wastewater and air emissions, adhering to national and industry standards[175]. Risks and Challenges - The company has acknowledged risks in its future development and has outlined corresponding countermeasures in its management discussion[5]. - The company faces risks related to rising production costs, including labor and material prices, which could impact profitability[102]. - The company has established a comprehensive accounts receivable management system to mitigate risks associated with increasing receivables[103]. - The independent directors expressed their agreement with the audit report and emphasized the need for the board to take effective measures to address the issues raised in the audit[198]. Shareholder Relations - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, through improved corporate governance[179]. - The company is committed to transparency and effective communication with stakeholders, as evidenced by the regular disclosures made[148]. - The company held one annual general meeting and two extraordinary general meetings during the reporting period, ensuring compliance with legal and regulatory requirements[110].