Shenzhen Sinovatio Technology Co.Ltd(002912)
Financial statement report of 2021
Shenzhen Sinovatio Technology Co.Ltd(002912) (hereinafter referred to as “the company” or “the company”) has audited the financial statements of 2021 by Lixin Certified Public Accountants (special general partnership) and issued an unqualified audit report of xksbz [2022] No. za10278 standard.
In 2021, the company experienced the continuous impact of covid-19 epidemic on the market environment, and was also affected by the financial budget adjustment of customers in key industries. The external environment faced by the company is relatively difficult. However, the company resolutely took this as an opportunity for internal improvement and comprehensively and seriously reorganized and laid out the product and market planning, so that the company’s products can better meet the needs of customers and the company’s business can support a broader market in the future.
In 2021, the current performance of the company was affected by these internal and external factors, and the profit contribution to shareholders decreased in a short term, but the overall financial situation of the company maintained a good trend.
Now the company’s financial final accounts report for 2021 is reported as follows:
1、 Analysis of the company’s financial situation in 2021 1 1. Asset structure (unit: 10000 yuan)
End of 2021 end of 2020
Proportion of year-on-year changes in asset items
Total assets 21637794 100.00% 22936564 100.00% – 5.66%
Current assets 17490389 80.83% 19963633 87.04% – 12.39%
Including: monetary capital 8038825 37.15% 11011209 48.01% – 26.99%
Trading financial assets 3900000 18.02% 3750000 16.35% 4.00%
Notes receivable 242640 1.12% 208.18 0.09% 106552%
Accounts receivable 2696528 12.46% 2689961 11.73% 0.24%
Prepayment 350.77 0.16% 538.22 0.23% – 34.83%
Other receivables 113697 0.53% 989.70 0.43% 14.88%
Inventory 2161400 9.99% 2218854 9.67% – 2.59%
Contract assets 141440 0.65%
Non current assets 4147404 19.17% 2972931 12.96% 39.51%
Including: fixed assets 2030661 9.38% 971508 4.24% 109.02%
Use right assets 641.34 0.30%
Deferred income tax assets 686617 3.17% 449052 1.96% 52.90%
Note: if there is tail difference in relevant data, it is caused by rounding.
(1) At the end of the reporting period, the overall asset structure of the company has not changed significantly compared with that at the end of the previous year, which is mainly composed of current assets;
(2) According to the relevant provisions of the new standards for financial instruments, the company presents the principal guaranteed floating income structured deposits in the account of trading financial assets. On the whole, at the end of the reporting period, the balance of monetary funds and transactional assets accounted for 55.17% of the total asset balance, and the liquidity of assets was strong;
(3) At the end of the reporting period, notes receivable increased by 106552% over the previous year, mainly due to the relatively large number of bills used for settlement in the current period and the due acceptance of large bills at the beginning of the year;
(4) At the end of the reporting period, according to the relevant provisions of the new income standard, the company listed the unexpired warranty deposit in the contract assets;
(5) At the end of the reporting period, the balance of non current assets increased by 39.51% compared with the end of the previous year, mainly due to the delivery of two company office buildings located in Jiangning District, Nanjing and Chaoyang District, Beijing, and the increase of fixed assets compared with the end of the previous year; Since 2021, the company has applied the new leasing standards and recognized the right to use assets in accordance with the regulations; In addition, the book deductible temporary difference increased compared with the end of the previous year, and the recognized deferred income tax assets increased. 2. Liability structure (unit: 10000 yuan)
End of 2021 end of 2020
Proportion of year-on-year changes in liability items
Total liabilities 4839479 100.00% 5385546 100.00% – 10.14%
Current liabilities 4443368 91.81% 5164804 95.90% – 13.97%
Including: notes payable 129.29 0.27% 114.71 0.21% 12.71%
Accounts payable 869339 17.96% 751519 13.95% 15.68%
Contract liabilities 1243497 25.69% 1910918 35.48% – 34.93%
Payroll payable 694106 14.34% 761256 14.14% – 8.82%
Taxes payable 938.65 1.94% Guangdong Huiyun Titanium Industry Co.Ltd(300891) 5.59% – 68.80%
Other payables 1494623 30.88% 1404408 26.08% 6.42%
324.25 0.67% due within one year
Non current liabilities
Non current liabilities 396112 8.19% 220742 4.10% 79.45%
Including: lease liabilities 358.67 0.74%
Estimated liabilities 896.92 1.85% 972.37 1.81% – 7.76%
Deferred income 270553 5.59% 123505 2.29% 119.06%
(1) At the end of the reporting period, the overall debt structure of the company has not changed significantly compared with that at the end of the previous year, which is mainly composed of current liabilities;
(2) According to the relevant provisions of the new income standard, the amount received in advance is presented in the contract liability account.
On the whole, the balance of contract liabilities at the end of the reporting period decreased by 34.93% compared with that at the end of the previous year, mainly due to the implementation and acceptance of some contracts with a high proportion of advance receipts in the current period;
(3) At the end of the reporting period, the tax payable decreased by 68.80% compared with the end of the previous year, mainly due to the delay in the signing and implementation of some orders, the decline in operating income and the decrease in value-added tax and income tax payable due to covid-19 epidemic in the reporting period;
(4) At the end of the reporting period, the balance of non current liabilities increased by 79.45% compared with that at the end of the previous year, mainly because: since 2021, the company has applied the new leasing standards and recognized the leasing liabilities in accordance with the regulations; In addition, the government subsidies related to assets received by the company during the reporting period increased compared with the end of the previous year.
3. Structure of shareholders’ equity (unit: 10000 yuan)
End of 2021 end of 2020
Year on year changes in owner’s equity
Amount proportion amount proportion
Share capital 1750717 10.42% 1744710 9.94% 0.34%
Capital reserve 6182740 36.81% 6698129 38.16% – 7.69%
Less: treasury stock 1448756 8.62% 1343038 7.65% 7.87%
Surplus reserve 490000 2.92% 462548 2.64% 5.93%
Undistributed profit 9823614 58.48% 9988669 56.91% – 1.65%
Total shareholders’ equity 16798314 100.00% 17551018 100.00% – 4.29%
(1) At the end of the reporting period, the structure of shareholders’ equity of the company has not changed significantly, and the total amount of shareholders’ equity is higher than that of the previous year
(2) During the reporting period, because the performance assessment conditions of the first phase of the “2019 restricted stock incentive plan” were not met, the company reversed the capital reserve recognized in the early stage in accordance with the regulations; 2、 Analysis of the company’s operating results in 2021
The details of the company’s profit statement in 2021 are as follows (unit: 10000 yuan):
Proportion of income statement items in revenue in 2021 and year-on-year change in proportion of revenue in 2020
Operating income 6938775 100.00% 9541004 100.00% – 27.27%
Operating cost 2154158 31.05% 2268206 23.77% – 5.03%
Taxes and surcharges 892.93 1.29% 903.81 0.95% – 1.20%
Sales expenses 1909479 27.52% 1843116 19.32% 3.60%
Administrative expenses 585353 8.44% 766427 8.03% – 23.63%
R & D expenses 2079043 29.96% 2368299 24.82% – 12.21%
Financial expenses -221.15 -0.32% – 173638 -1.82% 87.26%
Other income 377089 5.43% 515950 5.41% – 26.91%
Investment income 187014 2.70% 106.04 0.11% 166362%
Credit impairment loss -352711 -5.08% – 287671 -3.02% 22.61%
Asset impairment loss -119849 -1.73% – 76.81 -0.08% 146033
