Company code: Avic Heavy Machinery Co.Ltd(600765) company abbreviation: Avic Heavy Machinery Co.Ltd(600765) Avic Heavy Machinery Co.Ltd(600765)
Summary of annual report 2021
Section I important tips
1 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 go to www.sse.com com. cn. The website carefully reads the full text of the annual report. 2. The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 3. All directors of the company attend the board meeting. 4 Dahua Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
The plan for profit distribution and conversion of capital reserve into share capital in the reporting period reviewed by the directors:
Based on 105163863600 shares of total share capital at the end of 2021, the company plans to distribute cash dividends of 1.70 yuan (including tax) to all shareholders for every 10 shares, with a total profit of 17877856812 yuan. The remaining profits available for distribution to shareholders will be used for profit distribution in subsequent years. Based on the total share capital of 105163863600 shares at the end of 2021, 4 shares will be added to all shareholders with capital reserve for every 10 shares. After the conversion, the total share capital of the company increased by 420655454 shares, and the total share capital after the conversion was 1472294090 shares (the total share capital of the company shall be subject to the final registration result of China Securities Depository and Clearing Co., Ltd. Shanghai Branch. If there is a tail difference, it is caused by rounding). If the total share capital of the company changes from the date of disclosure of this announcement to the date of equity distribution and equity registration due to the repurchase and cancellation of restricted shares, listing of new shares, granting and exercise of equity incentive, conversion of convertible bonds into shares, share repurchase and other matters, the company plans to maintain the total amount of distribution unchanged and adjust the distribution proportion accordingly; It is proposed to keep the proportion of conversion to increase per share unchanged and adjust the total amount of conversion to increase accordingly.
Section II basic information of the company
1 company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Avic Heavy Machinery Co.Ltd(600765) Avic Heavy Machinery Co.Ltd(600765)
Contact person and securities affairs representative
Name: Ji Suchun, Yang Kesi
Office address: Taisheng, Shuanglong Airport Economic Zone, Guiyang, Guizhou Shuanglong airport, Guiyang, Guizhou
6 / F, building A3, Taisheng International Economic Zone
Tel: 085188 Avic Heavy Machinery Co.Ltd(600765)
E-mail [email protected]. [email protected].
2. Introduction to the company’s main business in the reporting period
During the reporting period, the company was mainly engaged in forging and casting, hydraulic environmental control and other businesses, belonging to the manufacturing industry of railway, ship, aerospace and other transportation equipment.
The outline of national innovation driven development strategy clearly puts forward the goal of “three steps” to build a world scientific and technological innovation power by 2050; The proposal of the Central Committee of the Communist Party of China on formulating the 14th five year plan for national economic and social development and the long-term goal for 2005 once again proposes to vigorously develop aerospace as a strategic emerging industry, unswervingly build a manufacturing power, a quality power, a network power and a digital China, and promote the upgrading of industrial foundation and the modernization of industrial chain, Improve economic quality, efficiency and core competitiveness. The above policies will bring new development opportunities for the forging and casting and hydraulic environmental control business of the company.
1. Forging and casting business
As a basic industry of machinery manufacturing, forging and casting industry is of great significance to equipment manufacturing and national defense construction. It is an indispensable strategic basic industry related to national security and national economic lifeline. Forging parts account for about 85% of high-speed machinery and equipment in the manufacturing industry of aircraft and electric equipment, accounting for a large number of mechanical components of aircraft and equipment; Castings account for a large proportion in the main types of mechanical and electrical products, such as general machinery, machine tools, light textile machinery and other mechanical and electrical products. The proportion of castings is more than 70%. China is the largest producer of forgings and castings in the world. Foreign well-known forging and casting enterprises have formed a complete industrial chain of raw materials, smelting alloy, forging and casting forming, machining, simple assembly and part assembly, which has improved the overall competitiveness. At the same time, the high simulation level of foreign enterprises and the personalized transformation of equipment have improved the quality and production efficiency of forging and casting products. Therefore, forging and casting products are transforming to high-end, precision and large-scale.
2. Hydraulic environmental control business
Hydraulic pressure and heat exchanger are basic industries of equipment manufacturing industry. The products contain the core manufacturing technology of equipment manufacturing industry and are widely used in various fields of national economic construction. They are one of the symbolic industries of China’s successful transformation from a large manufacturing country to a powerful manufacturing country. In the long run, driven by China’s high-speed railway, highway and other infrastructure and agricultural modernization, the market demand for engineering and agricultural machinery will continue to increase, and the hydraulic basic parts and heat exchanger products will have a long-term and stable market. However, the current hydraulic industry and heat exchanger industry have the characteristics of large but not strong, which is mainly reflected in the surplus of low-end hydraulic components, the high-end market is occupied by foreign advanced enterprises, and China’s hydraulic and heat exchanger products need to be transformed and upgraded urgently. In order to change this situation, on the one hand, the state has successively issued policies such as the plan for the adjustment and revitalization of equipment manufacturing industry and the implementation plan for the revitalization of mechanical basic parts industry, which provides policy support for the development of hydraulic environmental control industry. On the other hand, with the in-depth implementation of the land transfer policy, the transformation of agricultural production organization mode will bring new opportunities for the development of a new generation of agricultural machinery, drive the whole industrial chain to develop in a good direction, continuously improve the autonomy of high-end supporting parts of China’s construction machinery, gradually develop and expand engineering machinery and go abroad, all of which provide market support for the development of hydraulic environmental control industry.
At present, the competition pattern of the industry to which the company belongs has not changed greatly, and there are no factors that have a great impact on the company’s future operating performance and profitability.
During the reporting period, the company was mainly engaged in forging and casting, hydraulic environmental control and other businesses.
1. Forging and casting business
The forging business of the company involves many industries outside China, such as aviation, aerospace, electric power, shipbuilding, railway, construction machinery, petroleum, automobile and so on. Chinese products are mainly aircraft fuselage wing structure forgings, small and medium-sized forgings, aero-engine disk shaft and ring forgings, small and medium-sized forgings, aerospace engine ring forgings, small and medium-sized forgings, steam turbine blades, nuclear power blades, high-speed railway accessories, mine scraper, automobile crankshaft and other products. Foreign products are mainly engine forgings for RORO, IHI, ITP and other companies, and aircraft forgings for Boeing, Airbus and other companies.
The casting business of the company mainly includes hydraulic castings such as pumps, valves and reducers in automobile, engineering machinery and other fields, forklift parts, pipeline valves and aviation castings.
In 2021, the company’s forging and casting business achieved an operating revenue of 6.699 billion yuan, a year-on-year increase of 34.49%. There are many downstream industries of forging and casting business, and the industry has no obvious periodicity.
2. Hydraulic environmental control business
The company’s hydraulic environmental control business mainly includes two parts: hydraulic and heat exchanger.
Hydraulic products are mainly high-pressure plunger pumps and motors, which are widely used in aviation, aerospace, engineering machinery and other fields. Some products are exported to Europe and the United States and other countries and regions, and produce civil aviation parts for American GE, Smith and other companies.
The heat exchanger business mainly develops and produces tubular heat exchangers, sector fin heat exchangers, annular radiators, expansion assembled heat exchangers, casing heat exchangers, heat exchangers and environmental control accessories of various materials and forms such as copper, aluminum and stainless steel. It is widely used in civil fields such as China’s aerospace, engineering machinery, air compressors, medical treatment and wind power, and civil products are exported in batches.
In 2021, the company’s hydraulic environmental control business realized an operating revenue of RMB 2.091 billion, with a year-on-year increase of 21.78%. There are many downstream industries of hydraulic environmental control business, and the industry has no obvious periodicity.
3 main accounting data and financial indicators of the company 3.1 main accounting data and financial indicators in recent three years
Unit: yuan currency: RMB
20212020 compared with 2019 of the previous year
Increase or decrease (%)
Total assets 19684745604801566633577658 25.65143801668394
Attributable to listed companies
Net capital of shareholders of the company 935961348320671165620545 39.45612904208583
yield
Operating income 878990198593669816498934 31.23598490882586
Attributable to listed companies
Net profit of shareholders of the company 8906400480434380784218 159.0527525546574
Profit belongs to listed companies
Deduction from shareholders of the company 7238915543327152296271 166.6025678599819
Net profit from non recurring profit and loss arising from operating activities
Net cash flow of 15175935495265843631359 130.4878344115708
forehead
Weighted average net assets increased by 5.58%
Yield (% 11.05 5.47 points 6.20)
）
Basic earnings per share 0.89 0.37 140.54 0.35
(yuan / share)
Diluted earnings per share 0.89 0.37 140.54 0.35
(yuan / share) 3.2 main accounting data by quarter in the reporting period
Unit: yuan currency: RMB
First quarter second quarter third quarter fourth quarter
(January March) (April June) (July September) (October December)
Operating income 178538459404264642669625209042250514226766819050
The net profit attributable to 756233388919445265183338455926828210846464 east of shares of listed companies belongs to shares of listed companies
Net profit after deducting non recurring profits and losses of 7197821743, 19386482455, 32417434425 and 13387416810
Current net cash flow generated from operating activities 16020702072538558009843359917521648283676680 description of the difference between quarterly data and disclosed periodic report data □ applicable √ not applicable 4 shareholders 4.1 total number of common shareholders at the end of the reporting period and the end of the month before the disclosure of the annual report Total number of preferred shareholders with voting rights restored, total number of shareholders holding special voting shares and top 10 shareholders
