Securities code: Tianrun Industry Technology Co.Ltd(002283) securities abbreviation: Tianrun Industry Technology Co.Ltd(002283) Announcement No.: 2022009
Tianrun Industry Technology Co.Ltd(002283) 2021 annual report summary
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. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
Tips on non-standard audit opinions □ 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: Based on the total share capital of 1139457178 shares of the company as of December 31, 2021 and the share capital of 1118052790 shares after deducting 21404388 shares repurchased in the special repurchase account, the company will distribute cash dividends of 1.00 yuan (including tax) and bonus shares of 0 shares (including tax) to all shareholders for every 10 shares, No accumulation fund shall be converted into 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 Tianrun Industry Technology Co.Ltd(002283) stock code Tianrun Industry Technology Co.Ltd(002283)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Liu Lijin, Jia Huizi
Office address: No. 2-13, Tianrun Road, Wendeng District, Weihai City, Shandong Province
Fax: 06318982333
Tel: 06318982313
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
（1） Main business of the company
The company is a professional manufacturer of crankshaft and connecting rod with the production of "Tian" brand internal combustion engine crankshaft and connecting rod as the leading products. It is the vice president unit of China Gas Turbine Industry Association and the president unit of China crankshaft connecting rod and high-strength bolt industry. The company consists of Wendeng Hengrun Forging Co., Ltd., Weifang Tianrun crankshaft Co., Ltd., Tianrun crankshaft Germany Co., Ltd., Weihai Tianrun Packaging Technology Co., Ltd., Weihai Tianrun Machinery Technology Co., Ltd., Weihai Tianrun Intelligent Technology Co., Ltd., Tianrun intelligent control system integration Co., Ltd. and Shandong Tianrun Precision Industry Co., Ltd; The main business includes crankshaft, connecting rod, castings and forgings and air suspension.
The company's products include crankshaft, connecting rod, castings and forgings (blank and finished products), air suspension, etc. More than 95% of the main engine and connecting rod products are produced by domestic and foreign famous companies, and have become the main engine and connecting rod supporting products in China; Some series of products and casting products are directly exported to the United States, Germany, Britain, South Korea, Brazil, Argentina and other countries. The company has a perfect marketing network system. China has set up more than 200 regional key agents and franchisees, and its products cover 31 provinces and cities in China.
1. Crankshaft business
The company is the largest professional crankshaft manufacturer in China. Its crankshaft business is carried out by the parent company and its wholly-owned subsidiary Weifang Tianrun crankshaft Co., Ltd. its main products include heavy engine crankshaft, medium engine crankshaft, light engine crankshaft, passenger car engine crankshaft and marine electric high-power crankshaft. The crankshaft produced by the company is the core component of internal combustion engine, "Tian" brand crankshaft is a "recognized famous brand product in China". The company's crankshaft products are matched by Weichai, Cummins, FAW Xichai, shangfeihong, Shangchai, Dongfeng commercial vehicle, Sany Heavy Industry Co.Ltd(600031) , Daimler, international Cummins, Volvo, Fiat, caterpillar, UD truck, DEUTZ and other main engine plants outside China.
2. Connecting rod business
At present, the company is the largest manufacturer of expanding broken connecting rods of medium and heavy commercial vehicles in China. The connecting rod business of the company is carried out by the parent company and the wholly-owned subsidiary Weifang Tianrun crankshaft Co., Ltd. the connecting rods produced by the company are the core parts of internal combustion engine, and the main products include medium and heavy engine connecting rods, light engine connecting rods, marine connecting rods, construction machinery connecting rods, generator set connecting rods, etc, The products are matched by Weichai, Cummins, shangfeihong, Shangchai, Xichai, Dongfeng commercial vehicle, Sany Heavy Industry Co.Ltd(600031) , Valin, Daimler, caterpillar, Volvo, man, DEUTZ and other main engine plants at home and abroad.
3. Casting and forging business (blank and finished products)
The casting blank business of the company is jointly carried out by the casting division of the parent company and Tianrun precision. The main products include nodular iron crankshaft, casting piston, connecting rod, camshaft, flange shaft, balance shaft, flywheel, flywheel housing, bearing cover, cylinder head and other engine casting blanks; Rough castings of Siasun Robot&Automation Co.Ltd(300024) type such as rotary table, base and rocker; Rough castings of engineering machinery such as planetary gear carrier, shell, lifting arm, support and clutch shell; Casting blanks for brake, gearbox and chassis of commercial vehicles such as calipers, brake shoes, steering gear housing, main reducer housing, differential housing, wheel reducer housing, equalizing beam and support. The main customers are caterpillar, Volvo, Bosch, bonfeili, comer, Sinotruk Jinan Truck Co.Ltd(000951) , greenzebach, Daimler, Weichai Power Co.Ltd(000338) , STARCO, CNPC jichai, etc. The main casting equipment of the company are imported from abroad, with good operation stability, supporting dust removal and old sand regeneration, and good environmental protection. It is the first batch of green casting demonstration enterprises.
The forging blank business of the company is carried out by Wendeng Hengrun Forging Co., Ltd., a wholly-owned subsidiary. Its main products include crankshaft, connecting rod, control rod, swashsector, gear ring and other forging blanks.
The company's business of finished castings and forgings (non crankshaft / connecting rod) is carried out by Weihai Tianrun Machinery Technology Co., Ltd., a wholly-owned subsidiary. Its main products involve new energy mechanical parts, engineering machinery parts, auto parts and other fields. Its main products include engine castings such as flywheel, flywheel housing and cylinder head, and industrial Siasun Robot&Automation Co.Ltd(300024) castings such as rotary table, base and rocker arm, Finished castings of engineering machinery such as planetary gear carrier, shell, lifting arm, support and valve head, new energy castings such as steering gear housing and support and finished stamping parts; Commercial vehicle axle support, chassis control rod, gasket, engine bearing cover, crankshaft flange and other finished forgings; Swashsector, drive shaft and other hydraulic transmission system parts, the developed multi series products have successfully replaced imports.
The main customers are caterpillar, Bosch, bonfeili, comer, Weichai Power Co.Ltd(000338) , Sinotruk Jinan Truck Co.Ltd(000951) , KUKA, Daimler, Volvo, Huafang high tech, gangbaoli, etc.
4. Air suspension business
The company's air suspension business is carried out by the holding subsidiary Tianrun intelligent control, which is based on the production of vehicle air suspension system. At the same time, the developer's ECAs system and passenger vehicle ECS system, including truck chassis air suspension system, semi-trailer air suspension system, engineering vehicle rubber suspension system, truck cab suspension system, passenger vehicle suspension system Commercial vehicle ECAs system, passenger vehicle ECS system and its core parts.
5. Other business
Automation equipment and technical services: this business is carried out by Weihai Tianrun Intelligent Technology Co., Ltd., a wholly-owned subsidiary of the company. Its leading products include automation equipment products truss manipulator, joint Siasun Robot&Automation Co.Ltd(300024) integrated application, intelligent logistics cache, R & D and application services of intelligent detection system, covering the development of automation equipment, equipment automation transformation, integration and upgrading The R & D and application of intelligent manufacturing advanced control technology, visual misplacement technology and detection technology, as well as the whole line automation, intelligent planning, design, safety adjustment and rapid production change, are committed to providing cost-effective automation equipment, flexible tooling design, automatic detection technology, equipment automation transformation integration and whole line automation design for the machining field of manufacturing industry.
Weihai Tianrun Packaging Technology Co., Ltd., a wholly-owned subsidiary, is mainly engaged in the production and sales of packaging boxes and bags of various types and uses; Weihai Tianrun Machinery Technology Co., Ltd., a wholly-owned subsidiary, not only develops the production and sales of finished castings and forgings (non crankshaft and connecting rod), but also engages in the production of a variety of molds and tooling.
In June 2021, the company invested and established a wholly-owned subsidiary Shandong Tianrun Precision Industry Co., Ltd., which mainly engaged in precision casting and deep processing of high-end castings.
(II) business model of the company
The company's main business model has not changed during the reporting period, as follows:
R & D mode: the company has strong R & D ability. According to the needs of the market and customers, the company carries out R & D of new products together with customers. At the same time, it also modifies the old products according to the needs of customers and markets, continuously improves product performance, reduces costs, meets customer requirements, improves product market share and company competitiveness, and consolidates the industry position of the company.
Procurement mode: the company sets up a procurement department to be responsible for supplier resource construction and centralized procurement management of raw materials, including supplier selection, price inquiry and comparison, competitive bidding, centralized procurement, etc. the procurement department formulates the procurement plan according to the production demand and implements the procurement on the premise of analyzing the inventory surplus materials and procurement cycle. The company has established strict Perfect management system and quality assurance system to ensure the stability of raw material supply and price competitiveness of the company.
Production mode: the company adopts order driven mode. The company accepts orders from major engine manufacturers outside China and produces and supplies products according to orders; The company has a number of casting and forging production lines, heat treatment production lines and flexible crankshaft and connecting rod production lines, which can independently undertake the manufacturing and processing of all processes such as casting, forging, machining and heat processing. Each production line produces in mass production, and has the ability of rapid production change and new product development.
Sales mode: it is a business mode of supporting the main engine factory (including China and foreign countries, providing their own brands) and supplying the Chinese (foreign) social maintenance market. The main engine supporting adopts the order driven mode to directly provide OEM supporting and services for each main engine factory. For China's social maintenance market, the agent sales mode of all market regions in the country is adopted.
(III) matching between the company's operation and Industry
In 2021, the sales volume of trucks in China reached 4.288 million, a year-on-year decrease of 8.5%, and the production and sales status declined. The reduction of heavy trucks, light trucks and minivans was large, among which the reduction of heavy trucks was the largest. In 2021, the annual sales volume of heavy trucks was 1.395 million, which was lower than the historical peak last year. In the first half of the year, due to the impact of the five countries and six countries switch, a large number of demand was released in advance. In the first half of the year, the market as a whole was in a high operating state. The sales volume of heavy trucks in China reached 1.045 million, accounting for about three quarters of the annual sales volume. From the second half of the year, the demand declined due to the completion of the five countries and six countries switch Due to the high price of raw materials and the shortage of chips, the sales volume of heavy trucks decreased significantly.
In 2021, the company's operation matched the development of the industry. Driven by the strong demand of China's truck market in the first half of the year, the company's product orders were full and the sales volume increased. In the second half of the year, it fell down with the adjustment of the industry. During the reporting period, the company achieved an operating revenue of 4720678500 yuan, an increase of 6.60% over the same period last year, an operating profit of 616770700 yuan, an increase of 5.48% over the same period last year, and a net profit attributable to shareholders of listed companies of 541282100 yuan, an increase of 6.57% over the same period last year.
During the reporting period, the operating revenue of the company's crankshaft segment was 3.019 billion yuan, accounting for 63.96% of the company's operating revenue, of which the operating revenue of heavy engine crankshaft was 2.155 billion yuan, an increase of 0.79% over the same period last year; The operating income of medium-sized engine crankshaft was 97 million yuan, an increase of 11.17% over the same period last year; The operating revenue of light engine crankshaft was 508 million yuan, an increase of 4.21% over the same period last year; The operating income of passenger car engine crankshaft was 152 million yuan, an increase of 81.46% over the same period last year; The operating revenue of ship electric high-power crankshaft was 106 million yuan, an increase of 69.87% over the same period; The connecting rod business segment achieved an operating revenue of 1.042 billion yuan, an increase of 3.49% over the same period last year, accounting for 22.08% of the company's operating revenue.
The air suspension business is a newly developed business segment of the company in 2020. After incubation in 2021, the operating revenue reached 204 million yuan, a year-on-year increase of 253.16%, accounting for 4.31% of the company's operating revenue. 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 887643080071813263858627 9.15% 681787448951
Net assets attributable to shareholders of listed companies 553148116390502196484918 10.15% 457071442925
