Securities code: 002984 securities abbreviation: Qingdao Sentury Tire Co.Ltd(002984) Announcement No.: 2022-022 Qingdao Sentury Tire Co.Ltd(002984) summary of 2021 Annual Report
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. All directors attended the meeting of the board of directors to review the annual report. Non standard audit opinion tips □ applicable √ not applicable to the profit distribution plan of common shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital □ yes √ no
The company’s profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 649668940 as the base, distribute cash dividends of 1.70 yuan (including tax) to all shareholders for every 10 shares, send bonus shares of 0 shares (including tax), and do not use the accumulation fund to increase the share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Qingdao Sentury Tire Co.Ltd(002984) stock code 002984
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Jin shengqian
Office address: No. 5, Tianshan 3rd road, Daxin Town, Jimo City
Fax: 0532-68968683
Tel: 0532-68968612
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(1) Main business and products
The company’s main business is to focus on the R & D, production and sales of green, safe, high-quality and high-performance radial tires (semi steel radial tires, all steel radial tires) and aviation tires. The products are divided into passenger car tires, light truck tires, heavy truck tires and special tires according to the application type. Passenger car tires include economical passenger car tires High performance passenger car tires and special performance tires, including racing tires and aviation tires.
In the field of semi steel radial tire, the company has more than 10365 sub specification products and has the manufacturing capacity of full-size semi steel radial tire. The products are widely used in all kinds of cars, off-road vehicles, urban multi-function vehicles, light trucks, pickups and other models; In the field of all steel radial tire, the company has more than 221 sub specification products, including steering wheel, trailer wheel, drive wheel and all wheel position products. It has a relatively mature manufacturing capacity of all steel radial tire, and its products are applied to all kinds of heavy-duty trucks and other models; In the field of aviation tires, the company is one of the few international aviation tire manufacturers, with product design, R & D, manufacturing and sales capabilities; The company can produce multi specification aviation tire products suitable for domestic large aircraft, Boeing, Airbus and other aircraft models, and is steadily promoting customer development in the field of aviation tire application. During the reporting period, tire sales were the main business income source of the company, and the main business remained unchanged.
(2) Business model of the company
① Procurement mode
The company implements centralized, unified and standardized global procurement through the procurement center. The main raw materials purchased by the company are natural rubber, synthetic rubber, steel wire, cord fabric (wire) and carbon black. The procurement center of the company is responsible for the overall management and implementation of the procurement of Qingdao factory and Thailand factory, and uniformly arrange the procurement in combination with the production plans of the two factories, At the same time, in combination with the actual needs of the company and the market situation of raw materials, maintain a certain safe stock of raw materials. The company implements a strict supplier evaluation system and establishes the list of qualified suppliers. The product quality, delivery speed and follow-up services of the suppliers included in the list are strictly implemented in accordance with the quality system standards, and has established a long-term strategic cooperative relationship with high-quality suppliers outside China to ensure the stability of the company’s raw material supply and price competitiveness.
② Production mode
The company is a model of Intelligent Manufacturing in the tire industry. The company introduces intelligent manufacturing into the tire production process, and realizes production “automation” through automatic production equipment and industrial Internet technology with five main modules: intelligent central control system, intelligent production execution system, intelligent warehousing and logistics system, intelligent detection and scanning system and intelligent dispatching and early warning system; Realize production “informatization” with the help of modern sensing technology and big data analysis technology; With the help of ” Qingdao Sentury Tire Co.Ltd(002984) intelligent management system” and artificial intelligence algorithm to realize the “intellectualization” of production, and then realize the “digitization” and “visualization” of production process control; The “traceability” of products is realized through bar code identification, and the links of internal mixing, parts, molding, vulcanization, quality inspection and storage are fully connected, so as to successfully build the industrial Internet and the Internet of things system of production and manufacturing.
③ Sales model
At present, the company has formed a sales pattern of taking the overseas replacement market as the core sales field, continuously cultivating the domestic replacement market and focusing on the supporting market of medium and high-end main engine plants in the world. Among them, the replacement market is sold in the distribution mode, mainly for the replacement demand of automobile tires, and the industry is mainly sold to C-end consumers through dealers at all levels or chain retailers; The supporting market adopts direct sales mode, which is mainly for vehicle manufacturers. Supply can be formed only after entering its qualified supplier system after passing the comprehensive audit and product test of vehicle manufacturers. The company has created a high-end brand image of Chinese tires in the replacement market, with sales covering more than 150 countries and regions such as America, Europe, Asia Pacific and Africa; At present, the company’s positioning in the supporting market is based on the principle of attacking global medium and high-end main engine plants, and has become a qualified supplier for German Volkswagen Group, Guangzhou automobile, Great Wall Motor Company Limited(601633) , Geely Automobile, BAIC automobile, Chery Automobile and other vehicle manufacturers.
(3) Characteristics of tire industry
Periodicity, regionality and seasonality of tire industry:
① Industry periodicity
The overall tire market consists of supporting market and replacement market.
The supporting market mainly depends on the output of new cars, and there is a positive correlation between the prosperity of the market and the prosperity of the automobile industry; The replacement market mainly depends on the car ownership. With the increasing scale of car ownership, the tire demand has a certain rigidity. Overall, the cyclical characteristics of the tire industry are not obvious.
② Industry regionality
As a necessary part of automobile, tire consumption is related to automobile consumption level. The level of economic development is high, the automobile consumption capacity is strong, and the tire consumption demand is more vigorous. The consumption structure of tires tends to be dominated by medium and high-end products in developed regions.
③ Industry seasonality
Tires are consumables, the downstream demand is stable, and there are many types and specifications of tire products, which can meet the requirements of different seasons and different road conditions for different performance of tires. Therefore, the seasonal fluctuation of tire industry is not significant.
(4) Industry position of the company
The tire industry is a global competition. The company is committed to becoming a global leader in high-end new energy vehicle tires. It has global competitiveness in terms of high-end products, intelligent manufacturing, refined management, global layout, internationalized sales and professional talents. As a national high-tech enterprise, the company has a national recognized laboratory, Shandong enterprise technology center, Shandong aviation tire technology innovation center, Shandong Engineering Research Center, Shandong industrial design center and Qingdao all fiber radial aviation tire expert workstation.
In the field of automobile tires, the company’s ” Qingdao Sentury Tire Co.Ltd(002984) Sentury”, “road Airlines landsa IL” and “delinte delinte” brand products have won the same evaluation as international well-known tire brands in many international and Chinese authoritative third-party independent tire evaluation, such as Finland testworld, Germany Autobild, Russia Za rule, Finland TM, China’s car and wheel, China’s tire business and so on. Product performance advantages drive the continuous improvement of brand influence and competitiveness: from 2014 to 2021, in the highly competitive ultra-high performance tire (UHP) market in the United States, the company’s “delinte” brand tire has maintained 2.5% for 8 consecutive years 5% market share, the only Chinese brand on the list, showing the company’s strong international brand competitiveness and market influence in the high-performance tire market; In 2021, the company’s three independent brands ” Qingdao Sentury Tire Co.Ltd(002984) sentry”, “road Airlines landsail” and “delinte delinte” accounted for 2% of the replacement market in the United States. The company’s all tire products accounted for about 4.5% of the replacement market in the United States and more than 4% of the replacement market in Europe.
In the field of aviation tires, after more than ten years of continuous R & D investment, the company has become one of the few international aviation tire manufacturers, with the ability of aviation tire product design, R & D, manufacturing and sales; The company has signed relevant cooperative research and development agreements with COMAC to carry out domestic large aircraft aviation tire cooperation. It has entered the list of potential suppliers of COMAC cr929 and the list of suppliers cultivated by COMAC c909 and C919. It has become a qualified supplier of aviation tires for COMAC ARJ21-700 in 2019. In 2020, the company obtained as9100d aerospace quality management system certification. As9100d standard is applicable to aerospace supply chain product quality control and has been widely recognized internationally. The acquisition of as9100d certificate marks that the planning and systematization of the company’s aerospace quality management system has reached the international leading level.
3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 10395034903.03 7736737202.19 34.36% 6406219991.32
Net assets attributable to shareholders of listed companies 6646208406.25 5549847856.47 19.75% 3610167468.91
2021-2020 year-on-year increase or decrease 2019
Operating income 5177269183.43 4705381830.54 10.03% 4578918313.22
Net profit attributable to shareholders of listed companies: 753358567.99 980552518.83 – 23.17% 740725544.57
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of 683626951.72 1032878219.28 – 33.81% 750288717.70
Net cash flow from operating activities 831518332.95 1680978801.30 – 50.53% 1593772012.26
Basic earnings per share (yuan / share) 1.16 1.64 – 29.27% 1.28
Diluted earnings per share (yuan / share) 1.15 1.64 – 29.88% 1.28
Weighted average return on net assets 12.85% – 22.64% – 9.79% – 23.03%
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter
