Company code: Sichuan Tianwei Electronic Co.Ltd(688511) company abbreviation: Sichuan Tianwei Electronic Co.Ltd(688511) Sichuan Tianwei Electronic Co.Ltd(688511)
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 major risk tips
The company has described the risks faced by the company in this report. Please refer to "(IV) risk factors" in "section III Management Discussion and analysis" of this report for investors' attention. 3 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. 4. All directors of the company attended the board meeting. 5 Sichuan Huaxin (Group) Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 6. The company is not profitable and has not yet achieved profitability when it is listed □ yes √ No 7. The profit distribution plan or the plan for the conversion of provident fund into share capital in the reporting period adopted by the resolution of the board of directors
The company's profit distribution plan for 2021 is: Based on the total share capital registered on the date of equity distribution, the company plans to distribute a cash dividend of 6.25 yuan (including tax) to all shareholders for every 10 shares, and is expected to distribute a cash dividend of 50 million yuan (including tax), accounting for 43.65% of the net profit attributable to shareholders of Listed Companies in the consolidated statements.
The company will not convert capital reserve into share capital and will not give bonus shares this year. The amount of cash dividends in the above profit distribution in 2021 is temporarily calculated based on the total share capital of the company on the disclosure date of the company's 2021 annual report. The total amount of cash dividends actually distributed will be calculated based on the total share capital registered on the equity distribution registration date in 2021.
The profit distribution plan of the company in 2021 has been deliberated and approved at the 12th meeting of the first board of directors of the company, and needs to be deliberated and approved at the 2021 annual general meeting of shareholders of the company. 8. Whether there are important matters such as special arrangements for corporate governance □ applicable √ not applicable
Section II basic information of the company
1 company profile company stock profile √ applicable □ not applicable
Company stock profile
Stock type stock exchange stock abbreviation before stock code change stock abbreviation and sector
A-share Kechuang board Sichuan Tianwei Electronic Co.Ltd(688511) Sichuan Tianwei Electronic Co.Ltd(688511) not applicable
Profile of the company's depositary receipts □ applicable √ not applicable contact person and contact information
Contact person and contact information secretary of the board of directors (domestic representative of information disclosure) securities affairs representative
Name: Wang Han, Yang Qinqin
China (Sichuan) pilot Free Trade Zone Chengdu Shuang China (Sichuan) pilot free trade office address: No. 233, Wulian 1st Road, Gongxing street, Shuangliu District, Chengdu
Tel: 02863072200828 02863072200828
E-mail [email protected]. [email protected].
2. Introduction to the company's main business in the reporting period (I) main business, main products or services
During the reporting period, there was no significant change in the company's main business, main products and services.
The company is mainly engaged in the R & D, production and sales of new fire and explosion suppression systems, a three prevention general acquisition and driving device, high-energy aviation ignition and discharge devices, high-precision fuse devices and other products. Relying on the core technology accumulated for many years, rich military scientific research and production experience and advanced production management, the company takes the core devices and system integration in the field of comprehensive protection as the main development direction, and has long been committed to providing electronic information comprehensive protection products for the subdivided field of weapon and equipment protection.
The company's main products are new fire and explosion suppression systems, aviation discharge tubes and special fuses. The new fire extinguishing and explosion suppression system is mainly used for armored vehicles and other weapons and equipment; Special fuses, aviation discharge tubes and other device products are mainly used in aviation, aerospace and other fields; In addition to the main product sales business, the company also undertakes some research and development business entrusted by the military. （2） Main business model
1. Procurement mode
The procurement department of the company is responsible for the procurement of materials, equipment, packaging materials and auxiliary materials required for R & D and production. According to the relevant systems of the company, the production department and Engineering Technology Center shall put forward the purchase demand according to the production plan and inventory, form the product quotation approval form after price inquiry, negotiation and comparison, select qualified suppliers and prepare the purchase application. After being approved by the general manager, the purchase department shall prepare the contract, organize internal review, sign the contract with the supplier and implement the purchase. The suppliers of main materials adopt the mode of batch procurement and batch delivery, so as to reduce the procurement cost and ensure the normal production demand and reasonable inventory level. The company has formed a long-term and stable cooperative relationship with major suppliers to provide better guarantee for the control of purchased material quality, cost and supply speed. The main settlement method between the company and the main suppliers is payment on account after delivery. The payment cycle is determined by both parties through negotiation, and the payment method is mainly acceptance bill.
2. Production mode
The company mainly adopts the production mode of Task-based production, and organizes military production activities according to the order quantity of complete machine / overall unit or superior supporting unit. According to the company's order tasks and business objectives, combined with inventory, raw materials and other conditions, form an annual production plan. The production management department shall issue the monthly production plan according to the annual production plan, and make statistics on the completion of production at the end of the month. The company has formed relevant internal production management system to realize the institutionalization, procedure and standardization of production management. The company organizes production centered on products. In the whole production process, all links such as market forecast, order confirmation, planning, material procurement, production implementation and delivery inspection are organized and arranged by products.
Through the feedback of planning information, the unified caliber of information flow is maintained to achieve the unified scheduling of production plan. 3. Sales model
In the sales of military products of the company, the main products of the new military fire extinguishing and explosion suppression system are sold through military bidding. Before the military price review, the product price delivered by the company to customers is recorded according to the tentative contract price negotiated by both parties, and the price approved by the military is taken as the final sales price. System products are mainly delivered on a rolling basis according to the needs of military customers. After acceptance, the customer submits the payment plan and pays the payment to the company according to the plan. The payment method is mainly acceptance bill. The sales of device military products are mainly obtained by undertaking device development projects. The company develops relevant devices according to the needs of the military, and then finalizes the design and realizes mass supply. The price of device products is mainly determined through negotiation between the company and military user units, with acceptance bill as the main payment method.
The company's entrusted research and development income is mainly realized by undertaking various military scientific research projects. Military scientific research projects are mainly divided into two categories. One is new scientific research projects formulated by military ministries and commissions, and the scientific research funds of such projects are allocated by military ministries and commissions according to the progress stage of scientific research projects; The other is the scientific research projects formulated by the military user units. The scientific research funds of such projects are determined by the user units and the company through negotiation, and the user units pay according to the contract and the actual implementation of the project.
The company's civil products are mainly system products and device products. Civil system products are mainly mine fire extinguishing and explosion suppression system products. The products are sold mainly by means of customer selection, comparison and selection. The product price is determined through negotiation between the company and customers according to market, cost and other factors.
4. R & D mode
The company organizes relevant R & D work according to the R & D idea of "equipment generation, production generation, development generation, pre research generation and exploration generation". "Research generation" mainly focuses on the upgrading of the company's packaged products, including product performance improvement, quality engineering and next-generation product research and development. "Pre research generation and exploration generation" mainly refers to the company's pre research and exploration of new products according to the industrial development direction and technological development trend. The company's pre research products are mainly carried out in the way of cooperation with universities and research institutes, give full play to their respective advantages, track cutting-edge technologies, solve technology sources, focus on engineering and product promotion and application, and finally realize product assembly.
The company attaches great importance to the R & D quality of products and defines the design requirements of R & D projects through active communication with users. At the same time, a series of review processes including design review, engineering review, process review and quality review are set up in the R & D process. Before formal production, a series of strict verification tests are required to be completed to ensure the R & D quality.
The company takes continuous improvement as the quality goal of product research and development. Before the formal assembly of products, the company exposes product defects through market feedback, environmental comprehensive inspection and other ways, so as to optimize product design. The company actively participates in the formulation of product standards and fully understands the product function and performance requirements in the process of standard formulation, so as to guide the product design in the later product development process. （3） Industry 1 Development stage, basic characteristics and main technical threshold of the industry
(1) Development stage of military electronics industry
The electronic technology, electronic components, electronic materials, electronic systems and equipment involved in the military electronic industry are widely used in military industrial clusters such as weapons, aerospace, aviation and ships to provide technical support and supporting support for various important equipment. According to the "three-step" strategy of China's national defense and military modernization, the modernization of national defense and military will be realized by 2050. At present, the Chinese army is in the key stage of information construction. The military electronics industry undertakes the major strategic task of "information system integration, weapon equipment informatization, information equipment weaponization and information infrastructure modernization". In the future, the military electronics industry has broad development space and market prospects.
(2) Basic characteristics of military electronics industry
The military electronics industry has a long industrial chain, wide coverage and wide application fields. Most of the company's system products and device products are military products. From the perspective of the number of customers, the number of customers of military products is relatively concentrated, which is in line with the characteristics of the military industry. At the same time, due to the characteristics of military procurement, such as mandatory, planned, reliability, security and confidentiality, the procurement object of the military is generally not easy to change, and the cycle of model products from project approval, assembly, mass production to elimination is long, Therefore, the follow-up demand stability of the company's military products batch production supply is high and the continuity is long.
(3) Main technical threshold of military electronics industry
The company provides electronic protection products for high-risk areas. At present, the main products are military fire extinguishing and explosion suppression systems. The fire extinguishing and explosion suppression system in the integrated protection system plays a very important role in the military field. One of the very important conditions for an armored vehicle to give full play to its combat effectiveness is that it can still maintain the survival ability of the crew after being penetrated by the shell. The company's fire extinguishing and explosion suppression system can meet the military technical requirements of rapid response and reliable feedback in extreme high temperature and high dynamic environment. The product is difficult to realize, has high technical content, and the product has high added value. Since its establishment, the company has long been committed to the field of comprehensive protection, from the special research of device manufacturing technology to the accumulation of system integration related technologies, and formed a core technology product, which has strong technical advantages in the industry. 2. Analysis of the company's industry position and its changes
(1) Fire extinguishing and explosion suppression system products
Through its own development, the company has realized the R & D, design, production and application of military fire extinguishing and explosion suppression system products, and has become one of the few companies in China with independent R & D capability and mass production of military fire extinguishing and explosion suppression system. In the field of military fire extinguishing and explosion suppression system, the company has outstanding competitive strength and has been recognized in the unified bidding of fire extinguishing and explosion suppression system products organized by the military. With years of technical reserves, process level and comprehensive ability, the company finally ranked first among the seven bidding units. In the supporting relationship of new fire extinguishing and explosion suppression system products, the number of armored vehicle models supported by the company's products ranked first. As an R & D driven company, the company has always focused on the field of comprehensive protection and has a perfect technology and product research, development and innovation system. The company's military fire extinguishing and explosion suppression products are key products encouraged, supported and promoted by the state. During the reporting period, based on its deep technical reserves, the company formed its own core competitive advantage, formed mass production of core products, and achieved a more prominent market position in China's industry. In the future, the company will continue to invest in R & D, further consolidate its core competitiveness and maintain and strengthen its market position in the industry.
After years of development and technical accumulation, China's military fire and explosion suppression industry has realized independent R & D and manufacturing of products. In the future, with the gradual advancement of the modernization of weapons and equipment and the expansion of the application scope and scene of fire-fighting and explosion suppression technology in the military field, more resources and talents will enter the industry in the future. In the context of the rapid development of the industry, at present, as an excellent enterprise in the industry, it will rely on the early technology accumulation, brand effect and other first mover advantages to strive to obtain a larger market share, and the industry concentration will be further improved.
(2) Circuit protection component products
The device products produced and developed by the company are mainly military discharge tubes and military fuses. With the implementation of the national localization process, the demand for discharge tubes, fuses and other products continues to increase. Based on the company's product technology advantages, the discharge tube products have derived a large number of new models on the original basis, which basically meet the needs of China's equipment development at this stage. After more than ten years of research and development, the products have been applied to many models of military products. The company has stable production and manufacturing capacity and mature product technology. In terms of fuse products, the company's products have realized the coverage of multiple models and specifications, high working precision and high reliability, and the products have the advantages in aviation, navy and other fields
