Emtek (Shenzhen) Co.Ltd(300938)
Financial statement report of 2021
The financial statements of Emtek (Shenzhen) Co.Ltd(300938) (hereinafter referred to as “the company”) have been audited by Lixin Certified Public Accountants (special general partnership) and issued a standard unqualified audit report (xksbz [2022] No. ze10056). The accountant believes that the financial statements of the company in 2021 are prepared in accordance with the accounting standards for business enterprises in all major aspects, It fairly reflects the financial position of the company as of December 31, 2021 and the operating results and cash flow in 2021. 1、 Main financial indicators
Increase and decrease range of index project in 2021 and 2020
Operating income (10000 yuan) 39470482869329 37.56%
Operating cost (10000 yuan) 16321531149835 41.95%
Operating profit (10000 yuan) 966995707472 36.68%
Total profit (10000 yuan) 967702698781 38.48%
800557602518 32.87% net profit attributable to the owner of the parent company (10000 yuan)
Basic earnings per share (yuan / share) 1.2559 1.2340 1.77%
Diluted earnings per share (yuan / share) 1.2559 1.2340 1.77%
After deducting non recurring profits and losses
Net profit attributable to shareholders of the parent company 669283546378 22.49% (RMB 10000)
Net cash flow from operating activities: 10179931250473 – 18.59% (10000 yuan)
In 2021, the company realized an operating revenue of 394704800 yuan, an increase of 37.56% over 286932900 yuan in the same period last year, mainly due to the increase in sales performance this year and the merger of the operating revenue of Shenzhen Sansi Zongheng Technology Co., Ltd. (hereinafter referred to as “Sansi Zongheng”) and Guangdong Noel Testing Technology Co., Ltd. (hereinafter referred to as “Guangdong Noel”). The company’s net profit attributable to the owner of the parent company in 2021 was RMB 800557 million, an increase of 32.87% over the same period last year, mainly due to the growth of sales performance this year.
The net cash flow from the company’s operating activities in 2021 decreased by 18.59% compared with 2020, mainly due to the increase in cash paid for purchasing goods and receiving labor services, labor costs and taxes paid this year. 2、 Financial status (I) asset status
Unit: 10000 yuan
Increase or decrease range of index project from December 31, 2021 to December 31, 2020
Monetary capital 4079509882044 362.51%
Trading financial assets 1701772
Notes receivable 607.45 170.31 256.67%
Accounts receivable 1486083705324 110.70%
Advance payment 847.70 768.08 10.37%
Other receivables 409.22 181.49 125.48%
Inventory 366102
Other current assets 191358120177 59.23%
Total current assets 80112601819533 340.29%
Fixed assets 30690301244842 146.54%
Construction in progress 843.831060722 – 92.04%
Right to use assets 784122
Intangible assets 428584170338 151.61%
Goodwill 248284 795.52 212.10%
Long term deferred expenses 361647254721 41.98%
Deferred income tax assets 745.65 730.36 2.09%
Other non current assets 259329213939 21.22%
Total non current assets 53099463097151 71.45%
Total assets 133212064916683 170.94%
At the end of 2021, the total assets were 13321206 million yuan and 4916683 million yuan at the end of 2020, with a year-on-year increase of 170.94%.
Among them, current assets totaled 801126000 yuan, an increase of 340.29% over the end of the previous year; Non current assets totaled 530994600 yuan, an increase of 71.45% over the end of the previous year. The main reasons for the increase and decrease of various assets are as follows: [monetary capital]: an increase of 362.51% over the end of the previous year. Mainly due to the increase of funds raised by issuing new shares.
[trading financial assets]: financial products purchased this year.
[notes receivable]: an increase of 256.67% over the end of the previous year, mainly due to the notes receivable of the consolidated subsidiary sansizong this year.
[accounts receivable]: an increase of 110.70% over the end of the previous year, mainly due to customers in the automotive field and electronic and electrical field, with a long credit period for key customers; Accounts receivable of consolidated subsidiaries Sansi Zongheng and Guangdong Noel in this year.
[other receivables]: an increase of 125.48% over the end of the previous year, mainly due to other receivables of the consolidated subsidiaries Sansi Zongheng and Guangdong Noel this year.
[inventory]: the inventory of the consolidated subsidiary sansizong this year.
[other current assets]: increased by 59.23% compared with the end of the previous year, mainly due to the increase of input tax.
[fixed assets]: an increase of 146.54% over the end of the previous year, mainly due to the increase in investment and equipment of raised investment projects, the carry over of fixed assets of projects under construction and the purchase of real estate by its subsidiary Ningbo Xinci.
[construction in progress]: a decrease of 92.04% compared with the end of last year, mainly due to the carried forward fixed assets of some construction in progress this year. [right to use assets]: the company implements the new leasing standards this year and adjusts the accounting of the company’s operating leasing business according to the standards.
[intangible assets]: increased by 151.61% compared with the end of the previous year, mainly due to the intangible assets of the consolidated subsidiaries Sansi Zongheng and Guangdong Noel in the current period.
[goodwill]: an increase of 212.10% over the end of the previous year, which is the goodwill formed by the consolidated subsidiaries Sansi Zongheng and Guangdong Noel not under the same control in the current period.
[long term deferred expenses]: an increase of 41.98% over the end of last year, mainly due to the increase of decoration expenses.
[other non current assets]: an increase of 21.22% over the end of last year, mainly due to the increase of prepayment for equipment and laboratory decoration due to the expansion of production capacity this year.
(II) liabilities
Unit: 10000 yuan
Increase or decrease range of index project from December 31, 2021 to December 31, 2020
Accounts payable 489736153693 218.65%
Contract liabilities 179408 745.65 140.61%
Payroll payable 170547124808 36.65%
Tax payable 806.55 768.24 4.99%
Other payables 426718 50.60833316%
Non current liabilities due within one year 176037
Other current liabilities 531.34
Total current liabilities 1576234434951 262.39%
Lease liabilities 659647
Deferred income 281766350802 – 19.68%
Deferred income tax liabilities 403.00
Total non current liabilities 981714350802 179.85%
Total liabilities 2557948785752 225.54%
Debt Analysis:
[accounts payable]: an increase of 218.65% over the end of the previous year, mainly due to the accounts payable of the consolidated subsidiary Sansi Zongheng this year.
[contract liabilities]: an increase of 140.61% over the end of last year, mainly due to the contract liabilities of the consolidated subsidiary sansizong this year.
[employee compensation payable]: an increase of 36.65% over the end of the previous year, mainly due to the increase in the number of employees and labor costs this year, and the employee compensation payable by the merged subsidiaries Sansi Zongheng and Guangdong Noel this year.
[other payables]: an increase of 833316% over the end of the previous year, mainly due to the restricted stock repurchase obligation formed by the implementation of the equity incentive plan this year.
[non current liabilities due within one year] and [lease liabilities]: mainly refers to the accounting adjustment of the company’s operating lease business according to the new lease standards implemented by the company in the current period.
[other current liabilities]: mainly due to the taxes on the items to be written off and other current liabilities of the consolidated subsidiary Sansi Zongheng this year (mainly due to the non derecognition of bill endorsement this year).
[deferred income]: decreased by 19.68% compared with the end of the previous year, mainly due to the amortization of government subsidies related to assets.
[deferred income tax liabilities]: mainly due to the merger of subsidiaries
