COOLTECH POWER(SZ:300153)2022-04-26 16:00Business Expansion and Strategy - The company plans to expand into new business areas such as specialized vehicles, engineering installation, aftermarket services, new energy, and energy storage products to diversify its revenue sources and mitigate market downturn risks [5]. - The company aims to become a comprehensive energy system solution provider by vertically extending its industrial chain and horizontally expanding into new energy and energy storage sectors [8]. - The company aims to enhance its capabilities in engineering installation and after-market services while focusing on opportunities in the renewable energy and energy storage markets [35]. - The company plans to leverage its strengths in technology, channels, brand, project experience, and capital to drive sustainable long-term growth [35]. - The company is focusing on new energy and storage markets, driven by national policies promoting large-scale applications of storage technology [41]. - The company plans to focus on expanding its core business while exploring new energy opportunities and enhancing operational efficiency in 2022 [106]. - The company will enhance project and personnel management to improve engineering installation and aftermarket service capabilities, aiming to expand the scale of aftermarket business and increase profitability [107]. - The company will focus on expanding its two wings business, targeting new energy and storage sectors, including biogas and lithium battery projects, to explore new business directions [109]. Financial Performance - The company's operating revenue for 2021 was ¥952,949,491.39, representing a 35.72% increase compared to ¥702,130,777.96 in 2020 [24]. - The net profit attributable to shareholders in 2021 was ¥8,441,279.51, a significant turnaround from a loss of ¥170,449,932.75 in 2020, marking a 104.95% improvement [24]. - The net cash flow from operating activities reached ¥177,143,157.75, a remarkable increase of 667.79% from -¥31,198,803.08 in the previous year [24]. - The total assets at the end of 2021 amounted to ¥1,393,215,428.44, reflecting a 12.18% increase from ¥1,241,892,184.92 at the end of 2020 [24]. - The company reported a basic earnings per share of ¥0.0264 in 2021, compared to a loss of ¥0.5327 per share in 2020, indicating a 104.96% improvement [24]. - The company's operating costs totaled ¥807,599,867.67, reflecting a year-on-year increase of 30.56% from ¥618,588,068.45 [69]. - The company reported a significant increase in revenue from the engineering sector, which rose by 203.96% to ¥84,341,000.94 [61]. - The revenue from the new energy vehicle sector dropped significantly by 74.18%, from ¥14,082,060.21 in 2020 to ¥3,636,155.47 in 2021 [61]. Market and Industry Insights - As of the end of Q3 2021, China had built a total of 1.159 million 5G base stations, with 441,000 new stations added in 2021, indicating a significant increase in demand for backup power products [39]. - The data center industry in China saw a market size of 42.77 billion yuan in 2021, growing by 22.8% year-on-year, which positively impacted the company's business [39]. - The communication and data center industry contributed ¥602,322,227.80, accounting for 63.21% of total revenue, with a year-on-year growth of 49.63% [61]. - The domestic infrastructure investment for 2022 is projected to exceed 25 trillion CNY, with significant opportunities in new energy and data center markets, which are expected to drive demand for the company's backup power products [96]. - The data center equipment market is anticipated to grow at a compound annual growth rate (CAGR) of 18.1% from 2021 to 2026, reaching a market size of 98.4 billion CNY by 2026 [96]. - The user-side energy storage market is expected to grow as peak-valley price arbitrage becomes more economically viable due to regulatory changes [104]. Risk Management and Governance - The company has strengthened risk control measures, ensuring that accounts receivable growth remains below revenue growth, and has introduced credit insurance to mitigate export receivable risks [54]. - The company recognizes macroeconomic risks that could impact its business scale and profitability, and plans to diversify its business structure to mitigate these risks [111]. - The company is aware of product substitution risks from rapidly developing technologies like fuel cells and electrochemical storage, and is actively engaging in related technology development [111]. - The company has established a comprehensive internal control system that meets legal and regulatory requirements, ensuring healthy operation and risk management [119]. - The company has a clear policy on related party transactions, ensuring fairness and transparency in decision-making processes [123]. Human Resources and Management - The total number of employees at the end of the reporting period is 315, with 301 from the parent company and 14 from major subsidiaries [151]. - The company has a total of 14 employees with a master's degree and 94 with a bachelor's degree, while 102 hold an associate degree and 105 have a high school education or below [152]. - The company has established a comprehensive salary system, ensuring competitive salary levels based on regional and industry standards [153]. - The company aims to enhance its training system, focusing on professional, vocational, and youth talent development [154]. - The company has implemented a performance evaluation plan for directors and senior management for 2021 [149]. Corporate Governance and Compliance - The company has a total of 9 board members, including 3 independent directors, complying with legal and regulatory requirements [118]. - The supervisory board consists of 3 supervisors, including 1 employee supervisor, and has held 7 meetings this year [116]. - The company has maintained compliance with corporate governance regulations set by legal and regulatory authorities [124]. - The company has not engaged in any major related party transactions during the reporting period [182]. - The company has confirmed the absence of any penalties or rectification measures during the reporting period [181].