Shenzhen Xfh Technology Co.Ltd(300890)
Financial statement report of 2021
Shenzhen Xfh Technology Co.Ltd(300890) (hereinafter referred to as "the company") has completed the financial statements and notes of the company in 2021. Zhonghua Certified Public Accountants (special general partnership) has audited the financial statements and notes of the company in 2021 and believes that the statements and notes comply with the accounting standards for business enterprises and fairly reflect the financial status, operation and cash flow of the company in 2021 in all major aspects, The audit report issued an unqualified opinion. The financial statements of the company in 2021 are as follows:
1、 Financial position, operating results and cash flow analysis
(I) assets, liabilities and net assets
1. Composition and changes of assets
As of December 31, 2021, the total assets of the company were 2361367600 yuan, an increase of 789323500 yuan or 50.21% over the beginning of the year. The composition and changes of main assets are as follows:
Unit: 10000 yuan
Project December 31, 2021 January 1, 2021 year-on-year change amount% amount% amount
Monetary capital 3166160 13.41% 2229948 14.19% 41.98%
Trading financial assets 507205 2.15% 1302993 8.29% - 61.07%
Notes receivable 5117363 21.67% 1562582 9.94% 227.49%
Accounts receivable 3483409 14.75% 3545801 22.56% - 1.76%
Advance payment 1476464 6.25% 774.77 0.49% 180567%
Other receivables 320.52 0.14% 269.29 0.17% 19.02%
Inventory 1985430 8.41% 1738783 11.06% 14.19%
Other current assets 283.59 0.12% 990.11 0.63% - 71.36%
Total current assets 15796441 66.90% 10583523 67.32% 49.26%
Investment in other equity instruments 400.00 0.17% 400.00 0.25% 0.00%
Fixed assets 4756683 20.14% 2801208 17.82% 69.81%
Construction in progress 1606297 6.80% 1235416 7.86% 30.02%
Use right assets 341778 1.45% 156967 1.00% 117.74%
Intangible assets 582712 2.47% 590731 3.76% - 1.36%
Long term deferred expenses 76.12 0.03% 8.42 0.01% 804.43%
Deferred income tax assets 177024 0.75% 146043 0.93% 21.21%
Other non current assets 305131 1.29% 165711 1.05% 84.13%
Total non current assets 7817235 33.10% 5136918 32.68% 52.18%
Total assets 23613676 100.00% 15720442 100.00% 50.21%
Main reasons for change:
(1) At the end of 2021, the total current assets were 157964100 yuan, an increase of 521291800 yuan or 49.26% over the beginning of the year, specifically:
A. The monetary capital was 316616 million yuan, an increase of 936212 million yuan over the beginning of the year, an increase of 41.98%, mainly due to the increase of sales revenue and good payment collection;
B. Trading financial assets were 507205 million yuan, a decrease of 795788 million yuan or - 61.07% over the beginning of the year, mainly due to the decrease in raised funds and structural deposits during the reporting period.
C. Notes receivable was 511736300 yuan, an increase of 355478100 yuan over the beginning of the year, an increase of 227.49%, mainly due to the increase of sales revenue and good collection;
D. The advance payment was 147646400 yuan, an increase of 1398987 million yuan or 180567% over the beginning of the year, mainly due to the increase in sales volume in the current period and the increase in demand and purchase of raw materials and outsourced processing.
(2) The total amount of non current assets at the end of 2021 was 7817235 million yuan, an increase of 2680317 million yuan or 52.18% over the beginning of the year, specifically:
A. The net value of fixed assets was 4756683 million yuan, an increase of 1955475 million yuan or 69.81% over the beginning of the year. The construction in progress was 1606297 million yuan, an increase of 30.02%, mainly because (1) the company's new plant and production line have been converted to fixed assets; (2) The construction of phase II expansion project and phase III A and B projects of the company has made remarkable progress, and the production equipment of phase III project of the company has been purchased and commissioned successively;
B. The right to use assets amounted to 341778 million yuan, an increase of 184811 million yuan or 117.74% over the beginning of the year, mainly due to the new leased equipment this year;
C. Other non current assets were 305131 million yuan, an increase of 13.942 million yuan or 52.18% over the beginning of the year, mainly due to the increase in equipment purchased in 2021.
2. Analysis of debt structure and reasons for changes
The total liabilities at the end of 2021 were 1205184400 yuan, an increase of 656858400 yuan or 119.79% over the beginning of the year. The structure and changes of liabilities are as follows:
Unit: 10000 yuan
Year on year changes from December 31, 2021 to January 1, 2021
Amount proportion% amount proportion%
Short term loan 2378329 10.07% 1123019 7.14% 111.78%
Notes payable 5829592 24.69% 1529811 9.73% 281.07%
Accounts payable 1593931 6.75% 2074248 13.19% - 23.16%
Contract liabilities 1 Chongqing Pharscin Pharmaceutical Co.Ltd(002907) 4.25% 7.68 0.00% 1305048 1%
Payroll payable 124239 0.53% 383.32 0.24% 224.11%
Tax payable 781.07 0.33% 108503 0.69% - 28.01%
Other payables 94.93 0.04% 38.05 0.02% 149.50%
Non current liabilities due within one year 389.97 0.17% 203.59 0.13% 91.54%
Other current liabilities 274706 1.16% 156.77 0.10% 1652.2%
Total current liabilities 11330299 47.98% 4914521 31.26% 130.55%
Lease liabilities 309635 1.31% 136607 0.87% 126.66%
Deferred income 411909 1.74% 432132 2.75% - 4.68%
Total non current liabilities 721544 3.06% 568739 3.62% 26.87%
Total liabilities 12051844 51.04% 5483260 34.88% 119.79%
Main reasons for change:
(1) Short term loans amounted to 237832900 yuan, an increase of 125531000 yuan or 111.78% over the beginning of the year, mainly due to the increase in bank loans.
(2) Notes payable was 5829592 million yuan, an increase of 4299781 million yuan or 281.07% over the beginning of the year, mainly due to the increase in the company's sales volume in the current period and the increase in the demand and purchase of raw materials.
(3) Contract liabilities were 1 Chongqing Pharscin Pharmaceutical Co.Ltd(002907) million yuan, an increase of 1 Shenzhen Topband Co.Ltd(002139) million yuan over the beginning of the year, an increase of 13050481%, mainly due to the receipt of advance payment from customers of the company.
(4) The payroll payable was 124239 million yuan, an increase of 8.5907 million yuan or 224.11% over the beginning of the year, mainly due to the increase in the number of employees and the increase in the accrued bonus.
(5) Other current liabilities were 274706 million yuan, an increase of 259029 million yuan or 1652.2% over the beginning of the year, mainly due to the increase of output tax related to contract liabilities and output tax to be carried forward.
3. Net assets
At the end of 2021, the owner's equity attributable to the company's shareholders was 11468061 million yuan, an increase of 1230879 million yuan or 12.02% over the beginning of the year, mainly due to the increase in profits and capital reserve of share based payment in the current year.
(II) operating results
In 2021, the company sold 3986519 tons of graphite negative electrodes, with a year-on-year increase of 2534138 tons or 174.48%; The operating income was 11182408 million yuan, an increase of 168.78% over the previous year; The net profit attributable to the owners of the company was 998394 million yuan, an increase of 119.65% over the previous year.
Unit: 10000 yuan
20212020
Proportion of project amount to business income proportion to business year-on-year change proportion to income proportion
Operating income 11182408 100.00% 4160388 100.00% 168.78%
Less: operating cost 8253231
