Tianrun Industry Technology Co.Ltd(002283)
Work report of the board of directors in 2021
In 2021, in accordance with the provisions and requirements of the company law, the securities law, the Listing Rules of Shenzhen Stock Exchange and other laws and regulations and the articles of association of the company, and in the spirit of being responsible to all shareholders, the board of directors of the company actively and effectively carried out work, earnestly performed various functions and obligations, and effectively safeguarded the legitimate rights and interests of the company and all shareholders. The work in 2021 is reported as follows:
1、 Overall operation of the company in 2021
The company's products are mainly commercial vehicle engine crankshaft and connecting rod, and the products cover medium and heavy truck and light truck business. The development of the company is closely related to the truck market in the commercial vehicle market. In 2021, the heavy truck market was depressed due to the decline of market demand, high raw material prices, chip shortage and other reasons caused by the completion of the switching of laws and regulations in five countries and six countries. With the introduction of the "blue card light" investment policy and the "super strict" investment policy, there are also new opportunities for the company's infrastructure development.
2021 is the first year of the 14th five year plan of the company. Facing the situation of coexistence of opportunities and challenges, the company deeply cultivates its main business, closely follows the market situation and consolidates its leading edge in the industry; At the same time, focus on developing the second main business, fully explore the market, increase R & D investment, and gradually cultivate the air suspension business. During the reporting period, the company achieved a total operating income of 47206785 million yuan, an increase of 2922699 million yuan or 6.60% over 2020; The total profit was 606580300 yuan, an increase of 30393100 yuan or 5.27% over 2020, and the net profit was 540235500 yuan (including 541282100 yuan of net profit attributable to shareholders of the parent company), an increase of 33062500 yuan or 6.52% over 2020. (I) main business of the company
The company insists on focusing on the main business, developing the second main business and promoting diversified development layout. In 2021, during the reporting period, the company's crankshaft segment achieved an operating revenue of 3.019 billion yuan, accounting for 63.96% of the company's operating revenue, of which the heavy engine crankshaft achieved an operating revenue of 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. (II) market development and new product development
The company is always committed to the development of new customers and products, and uses product upgrading to drive the improvement of the company's ability in technical innovation, equipment upgrading, testing and other aspects. In 2021, the company successfully developed 11 new customers, including man, Guangdong Haoyun technology, Yangzhou Dongsheng, Jinan Xiangrui industry and Trade Co., Ltd., Anhui Valin, Guangxi Liugong Machinery Co.Ltd(000528) etc; The trial production of 141 new crankshaft products in Cummins, Weichai and other main engine plants has been completed, including 39 batch products; A total of 153 new connecting rod products from Weichai, Carter, Cummins, Xichai, Mann, Yuchai and other main engine plants have been delivered, of which 21 new connecting rod products have been developed for the first time, 32 modified products and 14 new products have entered mass production; Completed the development of 12 new casting products, including heavy truck, Binzhou Bohai piston, Jinxiang strong machinery, Shandong Fuyuan crawler and other customer large supports, differential housing, main reducer housing cover, brake shoe, piston, positioning sleeve and so on. Intelligent technology has completed the export of one connecting rod expanding and breaking machine tool, two sets of forging automation and one set of half shaft processing line intelligent turnkey project. Mechanical technology has completed the development and fixed-point of 114 new products such as drive shafts and swashsectors for Linde and bangfeili customers, and 10 new products have entered mass production and supply.
(III) promotion of intelligent manufacturing
In 2021, the company grasped the development trend, introduced 5g, industrial Internet, artificial intelligence and other technologies, comprehensively promoted the transformation of the company's old and new kinetic energy, promoted the integration of new generation information technology and manufacturing technology through digital, networked and intelligent development, and accelerated the transformation and upgrading. The company has completed the automation transformation and connection of four production lines, and the automation coverage of production lines will reach 81% by the end of 2021. The floor type manipulator loading and unloading system and U-shaped flexible truss layout are applied, and the proportion of staff reduction is up to 50%.
(IV) technological innovation and continuous improvement
In 2021, the company carried out innovation closely around products, materials, processes and efficiency. In terms of product innovation, the company carried out research on calculation and design of crankshaft dynamic balance and precise control technology of forging deformation of connecting rod forgings; In terms of material innovation, carry out research on crankshaft free cutting steel technology, improve the magnetic trace of continuous cast steel crankshaft and the machinability of nodular iron crankshaft; In the aspect of process innovation, the research on precision laser "honing" high depth diameter ratio hole technology and the integration technology of crankshaft trimming correction have been carried out; In terms of efficiency innovation, it has carried out research on automatic process technology of production line, phosphorus removal machine technology of forging line, digital construction project of smart factory, etc. In 2021, 26 technological innovation projects, 4760 continuous improvement projects and 310 special improvement projects have been completed; 31 national patents have been applied for, including 15 invention patents and 16 utility model patents.
(V) automobile air suspension business
In 2021, the second main business of air suspension is mainly the construction of production line, assembly line and laboratory, the development of new products and new customers, and the construction and operation progress is promoted as planned.
During the reporting period, Tianrun intelligent control company completed the development of 29 new products of air suspension, chassis and related parts, including 2 electric suspension assemblies, 1 four airbag and 1 eight airbag air suspension, 2 rubber suspension, 1 Trailer air suspension, 1 sample of chassis electric control suspension, 2 light truck chassis electric control suspension and 1 RV chassis four airbag air suspension; 18 new products of chassis and related parts.
In 2021, three chassis parts production lines and the expansion and supplement of shock absorber production lines were completed, the automatic assembly line of air spring and rubber suspension system were established, and China's first-class commercial vehicle air suspension system and core parts testing laboratory were completed.
2、 Work of the board of directors in 2021
(I) board meeting
In 2021, the board of directors of the company held 9 meetings to review the key issues of the company's operation and development, and performed the decision-making and management responsibilities of the board of directors. The details are as follows:
Date of the meeting and matters to be considered at the session
1. Proposal on cancellation of stock options that have expired but not been exercised at the 13th meeting of the 5th board of directors on January 5, 2021 during the second exercise period of stock options granted for the first time
2. Proposal on cancellation of stock options that have not been exercised at the expiration of the first exercise period of reserved granted stock options
1. Full text and summary of 2020 Annual Report
The 14th meeting of the 5th board of directors on March 27, 2021 2. Work report of the board of directors in 2020
3. 2020 general manager's work report
4. Financial statement report of 2020
5. 2020 profit distribution plan
6. Proposal on changes in accounting policies
7. 2020 internal control evaluation report
8. Self inspection form for the implementation of internal control rules
9. Proposal on the remuneration of directors, supervisors and senior managers in 2020
10. Proposal on reappointment of audit institutions in 2021
11. Proposal on prediction of daily connected transactions in 202112. Shareholder return plan for the next three years (20212023)
13. Proposal on election of independent director candidates
14. Proposal on changing the registered capital of the company and amending the articles of Association
The 15th meeting of the 5th board of directors on April 27, 2021 1 1. Full text and text of the report for the first quarter of 2021
2. Proposal on convening the 2020 annual general meeting of shareholders
The 16th meeting of the 5th board of directors on June 9, 2021 1 1. Proposal on asset purchase and related party transactions
2. Proposal on carrying out factoring business of accounts receivable
Proposal on appointing Mr. Wang Xiaoyi as deputy general manager of the company at the 17th meeting of the Fifth Board of directors on June 22, 2021
Case
Proposal of the 5th meeting of the 18th board of directors on stock option price adjustment on January 29, 20206
1. Full text and summary of 2021 semi annual report
The 19th meeting of the 5th board of directors on August 26, 2021 2. Securities investment and derivatives trading management system
3. Proposal on using idle self owned funds to purchase bank financial products
Proposal on participating in the subscription of Shanghai Diesel Engine Co.Ltd(600841) non-public Development Bank shares at the 20th meeting of the Fifth Board of directors on September 14, 2021
Report of the third quarter of 2021 at the 21st Meeting of the Fifth Board of directors on October 22, 2021
(II) convening of general meeting of shareholders
Date of the meeting and matters to be considered at the session
1. Full text and summary of 2020 Annual Report
