Securities code: Suzhou Thvow Technology Co.Ltd(002564) securities abbreviation: Suzhou Thvow Technology Co.Ltd(002564) Announcement No.: 2022032 Suzhou Thvow Technology Co.Ltd(002564)
Annual report for 2021
March 2022
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 ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors □ applicable √ not applicable. The company plans not to distribute cash dividends, bonus shares or convert accumulation fund 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 Suzhou Thvow Technology Co.Ltd(002564) stock code Suzhou Thvow Technology Co.Ltd(002564)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Wang Yu, Li Sheng
Office address: 3 / F, Block E, No. 1715, Zhongshan North Road, Putuo District, Shanghai
Fax 02160290016
Tel: 02160290016
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
During the reporting period, focusing on the business idea of “adhering to the main business, steady operation, structural adjustment and coordinated development”, the company implemented various measures to realize the coordinated development of energy engineering services, high-end equipment manufacturing and national defense construction with market orientation, energy engineering services as the main body, high-end equipment manufacturing as the basis and national defense construction as the breakthrough direction.
(I) overview of the company’s main business
1. Energy engineering service business
The EPC general contracting business and power engineering design consulting and other services in the power industry are the main business segments of the company. The company mainly engages in this business through the holding subsidiary China machinery power and its holding company. The profit of the EPC project mainly comes from the difference between the contract amount signed between the company and the owner and the actual cost of the project. The general contracting business of power engineering, new energy and clean energy is the main source of business income of the company. The company’s service scope covers regional power plants, self owned power plants, cogeneration projects, power transmission and transformation networks, wind power, photovoltaic, photothermal and other new energy power plants. The company has the ability to provide perfect and reliable system solutions in the general contracting, consulting, design, supply, management and operation of large-scale thermal power generation, photovoltaic thermal power generation, wind power generation, biomass power generation, power transmission and transformation and other power projects.
2. High end equipment manufacturing business
Zhang Huaji, a wholly-owned subsidiary of the company, is the main supplier of high-end non-standard pressure vessels and complete sets of equipment in China. It can provide customers with whole process solutions from design, manufacturing, installation to after-sales technical services. Its main products include heat exchangers, separators, reactors, storage tanks, towers, filters and evaporators of various materials and specifications, which are widely used in refining, chemical industry, coal chemical industry, electric power and other fields. The company’s products are characterized by multi-disciplinary and multi field technologies, high technology integration, difficult development, complex manufacturing process and high technical threshold.
3. National defense construction business
Hongqi shipyard, the holding subsidiary of the company, is an early manufacturer in the field of scientific research and production of national defense products in China. It is a professional designated manufacturer of national defense river crossing bridge equipment and military auxiliary ships, as well as a production base of large steel structures of roads and bridges. The products of Hongqi shipyard mainly include various kinds of national defense, civil special equipment and armament maintenance services such as various pontoons and bridges. At the same time, the company also has strong R & D and production capacity in civil ships, offshore living platforms, steel structures, grid engineering construction and other fields, and provides after-sales service, maintenance, technical service and consulting service for the above products.
(II) production and operation mode of the company
1. Energy engineering service business
The main forms of business include design, consulting and other technical services and general contracting.
(1) Design, consulting and other technical services
The company is mainly engaged in technology development, technology transfer, engineering consulting, engineering design and technical services related to the field of energy engineering services. Technology development and technology transfer business is mainly to transfer the use right of relevant patented technologies and process packages held by the company to the project owner according to the needs of the construction project. Design and consulting business refers to the business of comprehensively analyzing and demonstrating the technical, economic, resource, environmental and other conditions required by the construction project and preparing the design documents of the construction project according to the requirements of the construction project. Technical service business refers to the business that the company accepts the entrustment of the owner and provides the owner with management and services in the whole process or several stages of the organization and implementation of the project.
(2) EPC business
General contracting refers to the contracting of the whole process or several stages of the design, procurement, construction and commissioning (completion acceptance) of the project entrusted by the owner in accordance with the contract. The company shall be responsible to the owner for the quality, construction period and cost of the project in accordance with the contract. The company may contract out part of the work of the contracted project to subcontractors with corresponding qualifications in accordance with the law; The subcontractor shall be responsible to the company in accordance with the provisions of the subcontract.
In terms of the characteristics of the above business forms, the company’s EPC business adopts the integrated mode of project design and construction, which is conducive to improving the design and construction quality, better matching the construction site conditions and design scheme, and shortening the construction cycle; As the profit of the company’s EPC project mainly comes from the difference between the contract amount signed between the owner and the company and the actual cost of the project, in the settlement mode, the company regularly settles with the owner based on the project quantity according to the contract, and collects the project payment from the owner according to the project node agreed in the contract.
According to the project type and the actual situation of each project, the company and the owner agree on different project nodes and different accounting periods with the supplier.
2. High end equipment manufacturing business
According to the characteristics of the company’s products, the company adopts the mode of setting production by sales, that is, quantitative production according to customer orders, procurement according to the needs of production tasks, and products are directly sold to reserved customers.
(1) Design mode
As a supplier of non-standard pressure vessel products, the contracts signed between the company and customers include technical agreements. Some technical agreements already include product design drawings, and some technical agreements only provide relevant technical parameters. The design department of the company carries out product design according to relevant technical parameters. (2) Procurement mode
The main raw materials of the company’s products are stainless steel sector, stainless steel pipe, carbon steel sector, carbon steel pipe, forging, etc., mainly purchased in China. The prices of these raw materials are affected by their respective production costs, market demand, international metal prices and short-term market speculation, and the prices will fluctuate. When quoting products, the company considers the cost of materials according to the market price of raw materials and the expectation of market price fluctuation, and includes the cost of raw materials in the product quotation.
(3) Production mode
The production organization mode of the company is a strict “production by sales” mode, that is, the production is arranged and organized completely according to the customer’s order contract. As the company’s products are large-scale equipment, the process involved is complex and non-standard products, the close cooperation of the company’s design, process and production departments is required in the production process.
(4) Market development and sales model
The company’s products are non-standard pressure vessel equipment, and the customers are highly targeted. The customers are mainly large and medium-sized enterprises in petrochemical, coal chemical, chemical, nonferrous metals and other industries. In the business model, the company adopts the order production model, and in the sales model, the company adopts the direct sales model. The marketing department is responsible for formulating the marketing plan according to the company’s business objectives, coordinating the implementation of the plan, managing the customers, and tracking the dynamics of customers for a long time, And finally obtain customer orders through bidding.
(5) Revenue recognition and settlement method
The company generally carries out sales settlement by means of advance payment, progress payment, payment for goods and quality assurance deposit, completes delivery or installation according to the contract, and confirms the income after the customer’s acceptance.
3. National defense construction business
Hongqi shipyard is a national military confidentiality unit, and the national defense construction business involves military confidentiality. The company has applied to Shenzhen stock exchange for exemption from disclosure of relevant information. 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 28472355417933038789533470 – 6.30% 3182611302986
Net assets attributable to shareholders of listed companies 181029501521250310797961 – 27.68% 366922618918
20212020 year-on-year increase or decrease 2019
Operating income 680679117215771247356023 – 11.74% 1077919706345
Net profit attributable to shareholders of listed company -69331976112 -115951730366 40.21% 4239186099
The net profit attributable to non recurring shareholders of the listed company was -4672234394234643, 72334723% of the net profit attributable to non recurring shareholders of the listed company
Net cash flow from operating activities -615484148174915273131 -135219% 20806496697
Basic earnings per share (yuan / share) -0.80 -1.35 40.74% 0.05
Diluted earnings per share (yuan / share) -0.80 -1.34 40.30% 0.05
Weighted average return on net assets – 32.27% – 37.54% 5.27% 1.14%
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
2014052195267869086 operating income
Net profit attributable to shareholders of listed company 482108608911024108 -13273227367 -57451881461
Deductions attributable to shareholders of listed companies are not subject to 122615848 – 4211552430 – 134,
