LZJT(SZ:300428)2022-04-24 16:00Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the last fiscal year[22]. - The company's operating revenue for 2021 was ¥18,633,677,143.07, representing a 39.14% increase compared to the previous year[28]. - The net profit attributable to shareholders for 2021 was ¥450,040,854.05, which is a 4.04% increase from the previous year[28]. - The total assets at the end of 2021 amounted to ¥14,385,616,003.18, reflecting a 27.28% increase from the end of 2020[32]. - The net assets attributable to shareholders increased by 21.21% to ¥5,067,632,998.85 at the end of 2021[32]. - The company's cash flow from operating activities showed a significant decline, with a net outflow of ¥921,588,292.72 in 2021, a decrease of 354.63% compared to the previous year[32]. - The basic earnings per share for 2021 remained at ¥0.75, unchanged from the previous year[32]. - The company reported a total of ¥96,235,708.67 in non-recurring gains and losses for 2021, down from ¥121,443,142.60 in 2020[38]. - The weighted average return on equity for 2021 was 9.72%, a decrease of 1.12% from the previous year[32]. - The company achieved a revenue of 18.634 billion yuan, a year-on-year increase of 39.14%[71]. - The net profit attributable to shareholders was 450 million yuan, up 4.04% year-on-year[71]. Market Expansion and Strategy - The company is focusing on expanding its market presence, particularly in the lightweight alloy sector, aiming for a 20% increase in market share over the next two years[22]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge in the industry[22]. - The company has established strategic cooperation agreements with downstream die-casting and vehicle manufacturers to meet the rapid development needs of the passenger car industry for integrated die-casting components[50]. - The company is actively collaborating with several new energy vehicle manufacturers, including NIO and Xpeng, to provide aluminum alloy wheel products, establishing a solid market foundation[48]. - The company is positioned as one of the largest recycled aluminum casting alloy producers in China, aligning with national carbon peak and carbon neutrality goals[46]. - The company plans to expand its recycling and production capacity for recycled aluminum in Thailand and Mexico, aiming for dual circulation development domestically and internationally[193]. - The aluminum alloy wheel segment will enhance its domestic production strategy and accelerate overseas capacity construction in Thailand and Mexico to maximize scale efficiency[195]. Research and Development - The company is investing in technology upgrades, with a budget of 50 million yuan allocated for R&D in the upcoming year[22]. - The company has established a strong R&D team of over 50 members, leading to 23 invention patents and 60 utility model patents in the functional intermediate alloy new materials field[67]. - R&D investment reached ¥551,648,474.10 in 2021, representing 2.96% of operating revenue, up from 2.54% in 2020[135]. - The number of R&D personnel increased to 1,673 in 2021, a growth of 14.43% compared to 1,462 in 2020[131]. - The company has developed a unique low-Mo modification technology, reducing Mo content to 1/5-1/7 of international counterparts, enhancing competitiveness while lowering costs by 15%-20%[48]. - The company is developing a new aluminum alloy with a thermal conductivity of 195-201 W/m.K, aiming to reach 210 W/m.K in the future[103]. - The project for high-strength, heat-free aluminum alloy has achieved patent certification, breaking foreign monopolies in this field[103]. - The company has developed lightweight aluminum materials with tensile strength of 445 MPa, yield strength of 315 MPa, and elongation of 14.0%[109]. Production and Capacity - The company has a total production capacity of 1.3 million tons across various production bases, enhancing its market competitiveness and reducing operational risks[66]. - The aluminum alloy wheel production capacity stands at 20 million units, with a sales volume of 6.585 million units, contributing to significant revenue[64]. - The company’s aluminum alloy wheel production reached 15.5 million units, a 12.87% increase from 13.73 million units in the previous year[62]. - The sales volume of aluminum alloy wheels was 14.69 million units, up 9.55% from 13.41 million units year-on-year[62]. - The company has completed the construction of a demonstration plant for aluminum ash resource utilization, with a capacity of 100,000 tons, enhancing resource utilization efficiency[80]. - The company has established a stable raw material supply chain and long-term partnerships with key suppliers to mitigate price volatility risks[57]. Sustainability and Environmental Commitment - The company is committed to sustainability, with plans to increase the use of recycled aluminum by 25% in its production processes[22]. - The company has achieved a recycled aluminum resource procurement volume of 549,100 tons in 2021, an increase of 28.42% year-on-year, maintaining its leading position in the industry[46]. - The development of a water-based coating process for aluminum alloy wheels has achieved 100% compliance with national standards, reducing VOC emissions[112]. - The VOC zero-emission technology has lowered emissions and improved market competitiveness by reducing waste treatment costs[125]. - The company plans to replace part or all of the electrolytic aluminum with 100% recycled aluminum in the production of A356 alloy castings, meeting low-carbon manufacturing requirements[103]. Financial Management and Risks - The company is facing risks from fluctuations in raw material prices, particularly electrolytic aluminum and recycled aluminum, which are closely linked to market prices[197]. - The company is exposed to foreign exchange risks due to significant operations in multiple countries, and it plans to use forward foreign exchange contracts to mitigate these risks[198]. - The company is monitoring international trade environment changes that could impact its export business, particularly in light of uncertainties in US-China trade relations[199]. - The net cash flow from operating activities was -921,588,292.72 CNY, significantly lower than the net profit of 474,359,750.01 CNY, mainly due to a sharp rise in raw material prices and increases in accounts receivable and inventory[139]. - The total cash inflow from financing activities increased by 53.72% to ¥7,860,312,080.20 in 2021[136]. Investment and Acquisitions - The company completed an acquisition of Baoding Longda Aluminum Industry Co., with an investment amount of CNY 310.50 million, holding a 39.79% stake[152]. - The company has invested CNY 123.57 million in a lightweight aluminum alloy wheel project, with a cumulative actual investment of CNY 231.89 million as of the report date[153]. - The company reported a total of CNY 641.21 million in investments across various projects, with a cumulative actual investment of CNY 1,275.01 million[156]. - The project for producing 400 million lightweight aluminum alloy wheels and 100 million sets of high-strength aluminum suspension parts has been transferred to the subsidiary New Thai Wheel Manufacturing Co., Ltd.[181]. - The company has committed a total investment of CNY 40,000 million for the project of producing 1.4 million lightweight aluminum alloy wheels and 1 million sets of high-strength aluminum suspension parts, with an adjusted investment amount of CNY 22,335.49 million[164].