Yongfu(SZ:300712)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,567,918,028.98, representing a 59.92% increase compared to ¥980,439,090.50 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥40,765,880.21, a decrease of 19.94% from ¥50,918,935.37 in 2020[21]. - The net profit after deducting non-recurring gains and losses was ¥18,665,102.47, down 51.48% from ¥38,471,153.90 in 2020[21]. - The net cash flow from operating activities increased by 118.34% to ¥181,196,848.44 from ¥82,988,060.44 in 2020[21]. - Total assets at the end of 2021 were ¥3,026,063,113.49, a 38.28% increase from ¥2,188,400,108.39 at the end of 2020[21]. - The net assets attributable to shareholders increased by 9.13% to ¥1,116,859,748.47 from ¥1,023,464,925.38 at the end of 2020[21]. - The basic earnings per share for 2021 was ¥0.2239, a decrease of 19.92% from ¥0.2796 in 2020[21]. - The diluted earnings per share for 2021 was ¥0.2177, down 22.14% from ¥0.2796 in 2020[21]. - The company achieved a revenue of 1.568 billion yuan in 2021, representing a year-on-year increase of 59.92%[81]. - Revenue from the new energy business reached 1.019 billion yuan, a significant increase of 190.90% compared to the previous year[81]. Market and Industry Trends - The company is focused on expanding its market presence in clean and renewable energy sectors, including solar and wind energy[14]. - The company is involved in the development of smart grids, which integrate power generation, transmission, and distribution with information technology[14]. - By the end of 2021, the total installed power generation capacity in China was 2.38 billion kW, a year-on-year increase of 7.9%, with wind power capacity at approximately 330 million kW, up 16.6%[32]. - The newly added installed capacity of renewable energy in 2021 was 138.09 million kW, accounting for 78.3% of total new capacity, with solar power contributing approximately 53 million kW and wind power approximately 48 million kW[33]. - The implementation of national dual carbon policies is expected to enhance the development of renewable energy and energy storage, promoting a cleaner and more efficient energy system[38]. - The company aims to achieve a non-fossil energy share of 20% in primary energy consumption by 2025, with a target of 30% for electricity consumption[4]. - By 2025, the total installed capacity of wind and solar power in China is expected to exceed 1.2 billion kilowatts, with wind and solar power generation accounting for approximately 16.5% of total electricity consumption[5]. Strategic Initiatives - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 182,104,000 shares[5]. - The company has established wholly-owned subsidiaries, including Fuzhou Xinchuan Electromechanical Equipment Co., Ltd. and Fujian Yongfan Wind Power Technology Co., Ltd.[14]. - The company has established a joint venture with CATL, becoming its second-largest shareholder, to enhance its capabilities in the "new energy + energy storage" ecosystem[43]. - The company is focused on the construction of large-scale wind and solar power bases, enhancing the grid's capacity to absorb renewable energy generation[42]. - The company aims to enhance the grid's ability to accommodate high proportions of renewable energy, improving its flexibility and safety[41]. - The company is committed to promoting the development of hydrogen energy and new energy systems to improve energy supply security[41]. Research and Development - The company has established a dedicated R&D department for smart energy, focusing on digital engineering technology and software product development[60]. - The company is actively engaged in R&D in offshore wind power, energy storage, and smart energy, achieving significant awards for its innovations[101]. - The company has completed research on the feasibility analysis of large-diameter steel pipe piles for offshore wind power, which provides important reference for pile sinking analysis[128]. - The company is focusing on the development of clean energy, with a target for non-fossil energy to account for 20% of total energy consumption by 2030[129]. - The company is committed to continuous innovation and technology integration to enhance its core R&D capabilities in modern electric power energy digital services[129]. Operational Efficiency - The company has implemented a comprehensive quality control system for procurement in its EPC engineering contracting business[66]. - The company has a robust bidding process for securing contracts, enhancing its competitive edge in the market[76]. - The company has implemented a comprehensive training program to enhance its technical innovation and maintain its competitive edge in the power engineering sector[59]. - The company is focusing on engineering design and service projects, which are expected to contribute to its revenue growth in the coming years[109]. - The company is enhancing its smart operation and maintenance services to improve safety, reduce costs, and increase service efficiency through a digitalized management platform[185]. Challenges and Risks - The company faces risks related to policy changes affecting clean energy investments, which could impact business development if not managed effectively[186]. - The company faces execution risks in overseas projects due to factors such as local social security, industrial policies, and exchange rate fluctuations[193]. - The ongoing COVID-19 pandemic has significantly impacted the global macro economy, adversely affecting the company's total contracting business, especially in foreign markets[194]. - The company is strengthening its project management capabilities to mitigate risks associated with the rapid growth of its EPC business and ensure effective execution[191]. Governance and Compliance - The company has established a governance structure compliant with relevant laws and regulations, ensuring effective management and control[198]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal and regulatory requirements[200]. - The company has implemented measures to facilitate shareholder participation in meetings, including online voting options[199]. - The company is committed to improving its internal control systems and governance levels continuously[198].