Anhui Zhongyuan New Materials Co.Ltd(603527)
Financial statement report of 2021
(unless otherwise specified, the following monetary units are RMB)
Anhui Zhongyuan New Materials Co.Ltd(603527) the preparation of the 2021 financial report has been completed. The 2021 financial report of the company has been audited by Rongcheng Certified Public Accountants (special general partnership). Rongcheng Certified Public Accountants (special general partnership) believes that the company’s financial statements have been prepared in accordance with the accounting standards for business enterprises and fairly reflect the company’s financial position and operating results as of December 31, 2021 in all major aspects, And issued an unqualified audit report of Rongcheng Shenzi [2022] No. 230z0330 standard. 1、 Financial situation
1. As of December 31, 2021, the total assets of the company were 1.92 billion yuan, an increase of 35.93% over the same period of the previous year. The composition and changes of assets are as follows:
Unit: yuan currency: RMB
Year on year changes from December 31, 2021 to December 31, 2020
Monetary capital 1885954863511 China Railway Prefabricated Construction Co.Ltd(300374) 157 66.89%
Accounts receivable 6426092978735749805479 79.75%
Receivables financing 68739266887713078329 – 10.88%
Advance payment 6779320373565540523 – 80.99%
Other receivables 1390184441174890388 694.89%
Inventory 5265868922441197035156 27.82%
Other current assets 48914715275602055051 – 12.68%
Total current assets 149612682339105302779083 42.08%
Long term equity investment 13426910721068417743 25.67%
Investment in other equity instruments 1000000000 – not applicable
Fixed assets 2948152023827508442579 7.17%
Construction in progress 34629375001481876834 133.69%
Right of use assets 1176153852 – not applicable
Intangible assets 39234563784028538857 – 2.61%
Long term deferred expenses 274505 Jiangsu Akcome Science And Technology Co.Ltd(002610) 0000 5.17%
Deferred income tax assets 14888466331056193777 40.96%
Other non current assets 483307583771879456 – 37.39%
Total non current assets 4238636375635941449246 17.93%
Total assets 191999046095141244228329 35.93%
Analysis of significant year-on-year changes in the company’s asset structure at the end of the reporting period:
(1) Monetary capital in the reporting period increased by 66.89% over the same period of last year, mainly due to the increase in net cash flow from operating activities in the current period.
(2) Accounts receivable in the reporting period increased by 79.75% over the same period of last year, mainly due to the significant increase in sales scale in this period over the previous year.
(3) Prepayments in the reporting period decreased by 80.99% compared with the same period of the previous year, mainly due to the decline of prepayments for raw materials in the current period.
(4) Other receivables in the reporting period increased significantly compared with the same period of last year, mainly due to the large amount of export tax rebate receivable in the current period.
(5) During the reporting period, the investment in other equity instruments increased significantly compared with the same period of the previous year, mainly due to the increase of foreign investment in the current period.
(6) The construction in progress in the reporting period increased significantly compared with the same period of the previous year, mainly due to the large investment in the plant construction project of the subsidiary Anhui hachang New Material Technology Co., Ltd. and the equipment to be installed of Anhui Zhongyuan new energy technology Co., Ltd.
(7) During the reporting period, the right to use assets increased significantly compared with the same period of last year, mainly due to the new title of “right to use assets” in the statements presented in accordance with the new lease standards in this period.
(8) The deferred income tax assets in the reporting period increased by 40.96% compared with the same period of the previous year, mainly due to the increase of bad debt reserves and deferred income of accounts receivable in the current period compared with the previous period.
(9) Other non current assets in the reporting period decreased by 37.39% over the same period of last year, mainly due to the arrival of equipment prepaid in the previous period.
2. The total liabilities at the end of 2021 were 854 million yuan, an increase of 85.76% over the same period of last year. The composition and changes of liabilities are as follows:
Unit: yuan currency: RMB
Year on year changes from December 31, 2021 to December 31, 2020
Short term loan 5811446597235538456944 63.53%
Notes payable 5000000000 – not applicable
Accounts payable 128026114965670347452 125.78%
Contract liabilities 1318368135629739400 109.35%
Payroll payable 18759033861303451991 43.92%
Tax payable 1583608410757042610 109.18%
Other payables 1677428125234494 – 33.53%
Non current negative debt due within one year 223791496 – not applicable debt
Other current liabilities 10487500476836422 36.49%
Total current liabilities 8104039818044001109313 84.18%
Long term loan 2 Central Plains Environment Protection Co.Ltd(000544) 44 – not applicable
Lease liabilities 934777609 – not applicable
Deferred income 32027898021960103537 63.40%
Total non current liabilities 43376218551960103537 121.30%
Total liabilities 8537802003545961212850 85.76%
Analysis of significant year-on-year changes in the company’s debt structure at the end of the reporting period:
(1) Short term borrowings in the reporting period increased by 63.53% over the same period last year, mainly due to the increase in bank borrowings due to the expansion of production scale and the rise in raw material prices in the current period.
(2) The substantial increase in the production scale of L / C and bills payable in the reporting period compared with the same period of last year was mainly due to the significant increase in the price of L / C and bills payable in the reporting period.
(3) Accounts payable in the reporting period increased significantly compared with the same period of last year, mainly due to the increase of materials payable due to the expansion of production scale and the rise of raw material prices in this period.
(4) The contract liabilities in the reporting period increased significantly compared with the same period of last year, mainly due to the increase of sales volume in the current period and the increase of advance payment at the end of the period.
(5) The payroll payable in the reporting period increased by 43.92% over the same period of last year, mainly due to the expansion of production scale, increase of personnel and increase of salary in this period.
(6) The tax payable in the reporting period increased significantly compared with the same period of the previous year, mainly due to the increase of enterprise income tax payable in the current period.
(7) Other payables in the reporting period decreased by 33.53% over the same period of last year, mainly due to the decrease of temporary borrowings in the current period.
(8) The non current liabilities due within one year in the reporting period increased significantly compared with the same period of the previous year, mainly due to the new lease liabilities due within one year due in the implementation of the new lease standards in the current period.
(9) During the reporting period, other current liabilities increased by 36.49% over the same period of last year, mainly due to the increase in the amount of loans received in advance at the end of the period and the corresponding output tax.
(10) The long-term borrowings in the reporting period increased significantly compared with the same period of last year, mainly due to the increase of long-term borrowings due to the production and operation needs of the subsidiary Anhui hachang New Material Technology Co., Ltd.
(11) The reported lease liabilities increased significantly over the same period of last year, mainly due to the recognition of unpaid rents in accordance with the new accounting standards in the current period.
(12) Deferred income in the reporting period increased by 63.40% over the same period of last year, mainly due to the increase in government subsidies related to assets received in the current period.
3. At the end of 2021, the owner’s equity attributable to the parent company was 1.055 billion yuan, an increase of 11.24% over the same period of last year. The composition and changes of shareholders’ equity (excluding minority shareholders’ equity) are as follows:
Year on year changes from December 31, 2021 to December 31, 2020
Share capital 24382400 Jiangsu Shentong Valve Co.Ltd(002438) 240000 0.00%
Capital reserve 29808476844 0.00%
Special reserve 25351142282697989626 – 6.04%
Surplus reserve 53620620494734274412 13.26%
Undistributed profit 4340597653433213972707 30.69%
Attributable to owners of parent company 10549402965594837113589 11.24% equity
The undistributed profit in the reporting period increased by 30.69% over the same period of last year, which is mainly due to the full operation of the raised investment projects in this period, the large growth of production and sales volume, and the gradual realization of income of new projects in this period.
2、 Operating performance
1. Business situation
Unit: yuan currency: RMB
Year on year changes of the project in 2021 and 2020
Operating income 677978966167383599320213 76.74%
Operating cost 647423685687366734720278 76.54%
Taxes and surcharges 1041670641926785251 12.40%
During the reporting period, the operating revenue and operating cost increased significantly compared with the same period of last year, mainly due to the increase of sales volume in this period compared with the same period of last year and the rise of copper price.
2. Period cost
Unit: yuan currency: RMB
term
