富临精工(300432) - 2021 Q4 - 年度财报

Financial Performance - The company reported a total revenue of 809,960,144, with a profit distribution plan of 0.00 CNY cash dividend per 10 shares and a capital reserve increase of 5 shares per 10 shares[5]. - The company's operating revenue for 2021 was CNY 2,656,371,038.40, representing a 44.01% increase compared to CNY 1,844,526,992.60 in 2020[31]. - The net profit attributable to shareholders for 2021 was CNY 399,091,674.57, a 20.85% increase from CNY 330,228,508.10 in 2020[31]. - The company's total assets at the end of 2021 were CNY 5,222,962,599.67, a 65.42% increase from CNY 3,157,431,162.16 at the end of 2020[31]. - The basic earnings per share for 2021 was CNY 0.5400, up 20.86% from CNY 0.4468 in 2020[31]. - The company reported a net cash flow from operating activities of CNY -84,885,057.39, a decrease of 119.04% compared to CNY 445,714,122.67 in 2020[31]. - The total profit reached 458.99 million yuan, up 18.90% compared to the previous year[96]. - Net profit amounted to 399.09 million yuan, reflecting a growth of 20.85% year-on-year[96]. - The total assets increased to 5,222.96 million yuan, a rise of 65.42% from the beginning of the year[96]. - The gross profit margin for lithium battery cathode materials reached 9.98%, with a significant increase in profitability compared to the previous year[117]. Market Strategy and Expansion - The company plans to expand its market presence and enhance its product offerings, focusing on new technologies and product development in the automotive sector[5]. - The company aims to leverage its subsidiaries for better integration and efficiency in its operations, particularly in the electric vehicle components market[5]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and expand its product lines[5]. - The company is actively working on enhancing its supply chain and partnerships with major automotive manufacturers to improve its market reach[5]. - The company has outlined its future development outlook, highlighting growth potential in the automotive and new energy sectors[5]. - The company is focusing on the development of high-safety power batteries and efficient drive motors as part of its strategy to enhance its competitive edge in the new energy vehicle sector[50]. - The company is positioned to benefit from the ongoing shift from policy-driven to market-driven growth in the new energy vehicle sector[51]. - The company is leveraging the trend of deep localization in the automotive parts sector to enhance its market competitiveness[52]. - The company is focusing on the electric and intelligent transformation of the automotive industry, accelerating the layout of the new energy intelligent electronic control industry and expanding production capacity for lithium iron phosphate cathode materials[83]. Research and Development - The company is committed to maintaining the accuracy and completeness of its financial reports, ensuring transparency for its stakeholders[5]. - The company has a strategic focus on research and development, particularly in smart thermal management and intelligent suspension systems for vehicles[5]. - The company is actively involved in the research and development of new energy vehicle components, collaborating with major clients like CATL and Huawei to enhance its product offerings[92]. - The company is currently in the trial phase for high energy density composite phosphate materials, aiming for a 10% increase in energy density and improved cycle life[135]. - The number of R&D personnel increased by 21.31% to 370 in 2021, with a proportion of 13.44% of total employees[135]. Supply Chain and Production - The company emphasizes the importance of lithium-ion battery technology and its applications in new energy vehicles[5]. - The production process for lithium iron phosphate cathode materials utilizes a solid-phase method, resulting in high density and long cycle life products favored in the high-end power market[78]. - The company implements a qualified supplier management system for raw material procurement, ensuring comprehensive evaluation of suppliers[70]. - The company has established a comprehensive procurement management process to control the procurement of materials effectively[70]. - The company has established long-term strategic partnerships with numerous domestic and international OEMs, enhancing its market share and ensuring stable profitability[92]. - The company has developed unique production processes that effectively reduce production costs while maintaining product quality and performance[87]. Risks and Challenges - The company has identified potential risks in its future operations, which investors should be aware of[5]. - The global chip supply shortage is affecting the stability of the automotive industry in China, impacting the company's products that contain chip configurations[178]. - The cost structure of lithium iron phosphate production is significantly affected by the prices of upstream raw materials, particularly lithium and iron sources[178]. - The rapid development of the company poses management risks, necessitating the improvement of management systems to adapt to business scale changes[179]. Governance and Compliance - The company is committed to improving its governance structure and internal control systems to protect shareholder interests, especially those of minority shareholders[184]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[185]. - The company maintains strict information disclosure practices to enhance transparency and protect the rights of all shareholders[188]. - The company has established a transparent personnel hiring and evaluation system, ensuring that management personnel are appointed according to legal procedures[192]. - The company has developed a comprehensive governance structure, including a board of directors and supervisory committee, to ensure independent decision-making[194].