HAIGUO(SZ:301063)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,059,337,504.32, representing a 4.48% increase compared to ¥1,013,923,238.70 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥87,570,118.54, a decrease of 16.94% from ¥105,425,541.25 in 2020[20]. - The net cash flow from operating activities improved by 57.91%, reaching -¥67,771,638.12 in 2021 compared to -¥161,010,291.25 in 2020[20]. - The total assets at the end of 2021 were ¥1,610,713,703.91, an increase of 48.50% from ¥1,084,664,770.90 at the end of 2020[20]. - The net assets attributable to shareholders increased by 79.77% to ¥933,790,534.43 at the end of 2021 from ¥519,436,462.51 at the end of 2020[20]. - The basic earnings per share for 2021 were ¥1.28, down 23.35% from ¥1.67 in 2020[20]. - The weighted average return on equity for 2021 was 13.58%, a decrease of 9.01% from 22.59% in 2020[20]. - The company reported a net profit of 18,973,489.84 yuan for 2021, a significant increase from 6,902,621.12 yuan in 2020, representing a growth of approximately 174.5%[26]. - The company received government subsidies amounting to 17,568,857.27 yuan in 2021, up from 6,125,341.06 yuan in 2020, indicating a growth of 187.5%[25]. Revenue Breakdown - Revenue from wind power equipment forgings increased by 18.64% to ¥681,403,430.85, while revenue from oil and gas equipment forgings decreased by 30.17% to ¥184,739,002.77[60]. - The company achieved a sales volume of 108,310.37 tons in 2021, an increase of 7.88% from 100,397.19 tons in 2020[64]. - The total operating revenue for 2021 was ¥1,059,337,504.32, representing a year-on-year increase of 4.48% compared to ¥1,013,923,238.70 in 2020[60]. Market and Industry Outlook - The company anticipates continued growth in global oil and gas demand, particularly driven by emerging economies, with projections indicating a 23.7% increase in global oil demand by 2035[33]. - The global oil production in 2021 was approximately 4.423 billion tons, reflecting a year-on-year increase of 1.3%[31]. - The average Brent crude oil price surged to 70.95 USD per barrel, marking a 64.18% increase compared to previous periods[33]. - The installed capacity of wind power in China surpassed 300 million kilowatts in 2021, doubling since the end of 2016, maintaining its position as the world's largest[35]. - The wind power generation in China reached 652.6 billion kilowatt-hours in 2021, a year-on-year increase of 40.5%[36]. Product and Technology Development - The company has identified technological innovation as a key driver for industry development, particularly in oil and gas exploration and production[34]. - The company’s main products include oil and gas equipment forgings, wind power equipment forgings, and mechanical equipment forgings, which are critical for various industries including oil extraction and renewable energy[40]. - The company is focusing on developing new products for the wind power and deep-sea oil extraction markets, aiming for industry-leading performance[71]. - The company has a comprehensive talent development and R&D system, positioning it with a competitive advantage in technology and product innovation[55]. Governance and Compliance - The governance structure of the company complies with relevant laws and regulations, ensuring the protection of shareholder rights, particularly for minority shareholders[105]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements and effective governance[106]. - The company has established a fair and transparent performance evaluation system for directors, supervisors, and senior management, linking their compensation to company performance[108]. - The company has committed to transparent information disclosure in compliance with relevant laws and regulations[110]. Risk Management - The company has identified potential risks in its future development, which are discussed in the management analysis section of the report[6]. - The company faces innovation risks due to increasing performance requirements in oil and gas equipment and offshore wind power sectors, which may impact market competitiveness and profitability[98]. - Raw material costs, primarily carbon steel, stainless steel, and alloy steel, significantly affect the company's gross margin and profitability, with potential adverse effects from price fluctuations[99]. - The company is actively optimizing supply chain resources and managing procurement plans to mitigate risks from raw material price volatility[99]. Employee and Stakeholder Engagement - The total number of employees at the end of the reporting period is 538, with 321 in production, 22 in sales, 114 in technical roles, 8 in finance, and 73 in administration[145]. - The company emphasizes employee training across various roles to enhance professional skills and meet development needs[147]. - The company has a performance-based salary system, with bonuses linked to overall company performance and specific departmental metrics[146]. - The company has actively engaged with shareholders through various channels, ensuring their rights are respected and considered in decision-making[161]. Future Plans and Investments - The company plans to expand production capacity and improve processing capabilities through fundraising projects, particularly in oil and gas and wind power components[95]. - The company aims to enhance product quality and reduce costs by improving processes and implementing strict cost control measures[95]. - The company is investing in research and development to innovate new products that align with market trends and customer needs[116]. - The company plans to distribute cash dividends of RMB 1.50 per 10 shares, totaling RMB 12,636,000, which represents 100% of the profit distribution[151].