Securities code: Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040) securities abbreviation: Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040) Announcement No.: 2022015 Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040) 2021 annual report summary I. important tips 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
The audit opinion of Rongcheng Certified Public Accountants (special general partnership) on the company's financial report this year is: standard unqualified opinion. Changes of accounting firm during the reporting period: the accounting firm of the company has not changed this year, which is Rongcheng accounting firm (special general partnership). Tips of non-standard audit opinions □ applicable √ not applicable the company was not profitable when it was listed and is not profitable at present □ applicable √ not applicable to the profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period reviewed by the board of directors √ applicable □ not applicable the profit distribution plan of ordinary shares reviewed and approved by the board of directors is: Based on 100000000, distribute cash dividends of 2.00 yuan (including tax) to all shareholders for every 10 shares, 0 bonus shares (including tax) will be given, and 0 shares will be added to all shareholders for every 10 shares with capital reserve. Profit distribution plan for preferred shares in the reporting period adopted by the board of directors □ applicable √ not applicable
2、 Basic information of the company 1. Company profile
Stock abbreviation Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040) stock code Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Wu Junsan, Zhang Xiaojie
Office address: Hexing Huashan Road, Jinfeng Town, Zhangjiagang City
Fax: 051258511337
Tel: 051256913129051256918180
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
1. Main business
Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040) is a high-tech enterprise specializing in the R & D, production and sales of industrial metal forgings with independent R & D and innovation capabilities. The company has been deeply engaged in the forging industry for many years. In terms of forging, heat treatment, machining, testing and other production links, the company has accumulated rich manufacturing experience and technological advantages, and has the production capacity of large-scale, special-shaped, high-end and large-scale industrial metal forgings. The company's main products include industrial metal forgings such as bearing forgings, flange forgings and ring gear forgings. They are key basic components of high-end equipment manufacturing industry and are widely used in wind power, engineering machinery, mining machinery, nuclear power, shipbuilding, electric power, petrochemical and other industries.
2. Main products and application fields
The company's main products include bearing forgings, flange forgings, ring gear forgings and other types of industrial metal forgings. They are key basic components of high-end equipment manufacturing industry and are widely used in wind power, engineering machinery, mining machinery, nuclear power and other industries.
The main product types of the company are as follows:
Product category typical product name product legend
Yaw ring gear forging
Bearing forgings - rotary support forgings for excavators
Shovel gear forging
Marine ring forgings
Wind power tower flange
Flange forging rotor room flange forging
Flange forgings for furnace
Gear ring forging speed increasing box gear ring forging
Other forgings hub forgings
Flange forging steam turbine diaphragm body forging
Ball valve forgings
Friction disc forgings manhole flange cover forgings
The main applications of the company's products in wind turbines are as follows: 3. The production process of main products and the key process links in the production process are as follows:
Process introduction
In order to improve the plastic deformation ability of metal and reduce the deformation resistance, good results are obtained after forging
The ingot is heated by natural gas heating furnace according to the heating process.
After the billet steel ingot is heated, the hydraulic press is used to apply pressure to it, and the billet steel ingot is heated according to the billet making process
The process of forging ingots and making billets.
After the blank making is completed, the continuous local plastic deformation is generated by the ring rolling machine
Through ring rolling, the plastic processing of reducing wall thickness, expanding diameter and forming section profile can be realized
Cheng.
Place the forged ring blank in the heat treatment equipment for heating, heat preservation and cooling,
Heat treatment heat treatment can control the change of properties by changing the surface or internal structure of materials
Cheng.
Flaw detection flaw detection uses nondestructive testing means (including ultrasonic, magnetic particle and penetration) to detect the ring forgings
Flaw detection of internal defects or external defects to ensure product quality.
4. Main business model
The company has a complete raw material procurement, production and sales system and independently carries out production and operation activities.
(1) Procurement mode
The procurement department is responsible for the procurement of raw materials. The raw materials are mainly alloy steel, carbon steel and stainless steel. According to the internal actual situation, combined with the current situation of the industry and market characteristics, the company has formulated procurement systems and procedures such as procurement, warehousing and supply management measures, supplier management control procedure and product inspection control procedure, which standardize the procurement of raw materials.
(2) Production mode
The company's "production oriented and sales oriented" mode is adopted to improve the company's production and sales efficiency. The company's products are mainly non-standard products. According to the specific application fields of products, their material requirements and structural specifications vary greatly. Therefore, the company mainly makes customized production in batches according to the requirements of downstream users. During the production of products, the production department shall formulate production plans and arrange production according to product standards, process documents and quality requirements. The testing center shall carry out supervision, inspection and testing before, during and after production in accordance with the requirements of product quality control. In order to improve production efficiency, control production costs and make full use of the resources of surrounding enterprises, the company will appropriately carry out some entrusted processing businesses, mainly including machining and heat treatment of some products, depending on the specific conditions such as order business volume, delivery cycle and product requirements. The company has established a quality control system for outsourcing manufacturers to strictly control the selection, entrusted processing and work quality of outsourcing manufacturers. The price of machining services purchased by the company from outsourcing manufacturers is mainly determined according to the processing workload, and comprehensively considers the processing difficulty, construction period requirements and other factors.
(3) Sales model
During the reporting period, the company mainly achieved sales through direct sales, that is, the company directly signed contracts with downstream customers to order products. The company adopts the product pricing method of "raw material cost + processing fee", and the raw material cost is determined by the steel price and steel consumption; The processing fee consists of manufacturing cost, labor cost and reasonable gross profit. On this basis, the company flexibly adjusts the pricing strategy according to the customer's cooperation years, orders and product requirements.
5. Industry status
The company is mainly engaged in the R & D, production and sales of industrial metal forgings. Its products are mainly used in wind power, engineering machinery, mining machinery, nuclear power and other industries. The company belongs to the forging industry, which is the basic industry of high-end equipment manufacturing industry and is of great significance to the development of national economy.
According to the industry classification guidelines for listed companies (revised in 2012) issued by the CSRC, the company belongs to the "metal products industry (classification code: C33)"; According to the industrial classification of national economy (GB / t47542017) issued by the National Bureau of statistics, the company belongs to "manufacturing of forgings and powder metallurgy products (classification code: c3393)".
From the perspective of the global forging industry, foreign advanced forging enterprises such as Germany, the United States, Russia, Japan and the United Kingdom, relying on long-term technology accumulation and strong R & D capacity, are in a leading position in the world in terms of forging technology, forging process and equipment level, and have monopolized the production of large and high-end forgings in the world for a long time. Developing countries such as China and India can occupy the field of low-end forgings by relying on lower costs and rapidly developing markets.
However, with the deepening of industrial transfer and the development of China's high-end equipment manufacturing industry, this situation is changing. Some forging enterprises in China have made great progress in forging technology, forging equipment and forging capacity by absorbing imported technology, strengthening R & D cooperation and technology accumulation. Some products have broken foreign monopoly and gradually realized localization substitution. In addition, some excellent enterprises have entered the global procurement system of multinational corporations with their excellent technical strength.
6. Market position
The company is a national high-tech enterprise. After years of development, the company has accumulated rich manufacturing experience and process technology advantages in forging, heat treatment, machining and testing. It has the production capacity of large-scale, special-shaped, high-end and large-scale industrial metal forgings. The company has been at the advanced level of China in technology, process and manufacturing capacity.
By upgrading the original production line, the company has an annual production capacity of 140000 tons. Through the implementation of the green intelligent manufacturing project of high-end ring forgings, one of the projects raised and invested this time, the annual production capacity of the company's forging products will reach 190000 tons, becoming a large-scale professional industrial metal forging enterprise in China.
With the company's long-term accumulated R & D strength, excellent product quality and perfect service, the company's products have been recognized by many industry customers, including Aecc Aero Science And Technology Co.Ltd(600391) ( Aecc Aero Science And Technology Co.Ltd(600391) . SH), Dongfang Electric Corporation Limited(600875) ( Dongfang Electric Corporation Limited(600875) . SH), China Railway Construction Corporation Limited(601186) ( China Railway Construction Corporation Limited(601186) . SH), Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) ( Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) . SH) and other well-known Chinese enterprises or listed companies; And ThyssenKrupp, Siemens gamesa and other international well-known enterprises. At the same time, the company has also entered the supply chain procurement system of well-known enterprises such as GE and Shanghai Electric Group Company Limited(601727) ( Shanghai Electric Group Company Limited(601727) . SH) through downstream customers. 7. Performance driven
In August 2015, China Forging Association issued the 13th five year plan for the development of the forging industry, and proposed that the automation, informatization and digitization of the forging industry in the next five years are the key development direction of the industry; In March 2016, the state promulgated the outline of the 13th five year plan for national economic and social development, which proposed to focus on improving the innovation ability and basic ability of the manufacturing industry, promote the deep integration of information technology and manufacturing technology, promote the development of the manufacturing industry towards high-end, intelligent, green and service, and cultivate new competitive advantages of the manufacturing industry; In December 2017, the national development and Reform Commission promulgated the three-year action plan to enhance the core competitiveness of manufacturing industry (20182020), which proposed to accelerate the industrialization of advanced metal and non-metal key materials, improve the supporting capacity of key parts and components and process equipment of major technical equipment, and accelerate the development and industrialization of basic parts, basic processes and key supporting products. The implementation of the above policies provides strong policy support and guidance for the development of forging industry.
The development policies of the main application industries in the downstream also provide good development space and opportunities for the development of the forging industry. Taking the wind power industry as an example, in 2016, the national energy administration and the national development and Reform Commission issued the 13th five year plan for wind power development and the 13th five year plan for renewable energy development respectively, both of which proposed to continuously improve the development measures to promote the wind power industry and its upstream supporting industries; In 2019, the national development and Reform Commission revised the Guiding Catalogue for industrial structure adjustment (2019 Edition), and included "high strength steel forgings; high temperature, low temperature, corrosion resistance, wear resistance and other high-performance, lightweight new material castings and forgings; high precision, low stress machine tool castings and forgings; automobile, energy equipment, rail transit equipment, aerospace, military, marine engineering equipment key castings and forgings" in the catalogue of encouraged machinery industries. In May 2019, the national development and Reform Commission issued the notice on improving the on grid tariff policy of wind power, adjusted the subsidy policy of the wind power industry, and the wind power industry will enter the rush year in the next two years.
The implementation of the above policies will stimulate the capital investment of the wind power industry, and then expand the market demand for wind power and basic special parts. At the same time, as the production of special parts for high-end equipment and related process technology research and development are encouraged by national policies, the company will benefit from relevant policies. 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
