Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) : financial statement report of 2021

Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068)

Financial statement report of 2021

Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) (hereinafter referred to as “the company”) has audited the financial statements of 2021 by Lixin Certified Public Accountants (special general partnership) and issued an unqualified audit report in accordance with the standard of [Xin Kuai Shi Bao Zi [2022] No. zf10176]. The financial statements of 2021 are reported as follows:

1、 Main business indicators

Unit: Yuan

Increase or decrease of the project from 2021 to 2020 over the previous year

Operating income (yuan): 5274869167947812332671 10.32%

Net profit attributable to shareholders of listed company 51598564657916679884 – 34.82% (yuan)

Deduction attributable to shareholders of listed companies

Net profit of current 48901232136362006778 – 23.14% profit and loss (yuan)

Net cash flow from operating activities 76966554581973220538 290.06% (yuan)

Basic earnings per share (yuan / share) 0.76 1.26 – 39.68%

Diluted earnings per share (yuan / share) 0.76 1.26 – 39.68%

Weighted average return on net assets 9.63%, 19.32% – 9.69%

Increase or decrease of the project at the end of 2021 and 2020 compared with the end of last year

Total assets (yuan): 11822118990994832959683 24.66%

Net assets attributable to shareholders of listed companies 7407975459945034197999 64.50% (yuan)

Note: the above financial data are consolidated statement data.

2、 Financial situation

(I) description of asset composition and major changes

Unit: Yuan

Increase and decrease range of the project at the end of 2021 and the beginning of 2021

Monetary capital 138969592374093930272 239.45%

Inventory 30223964 Zhejiang Cayi Vacuum Container Co.Ltd(301004) 283248 200.95%

Fixed assets 445432589112263262190186810%

Construction in progress 20168996333762013101 – 99.40%

Deferred income tax assets 39709735051947315785 103.92%

Note: the company’s definition of large change is that the amount increases or decreases by more than 1 million yuan and the proportion of increase or decrease is greater than 30%.

At the end of the reporting period, monetary funds increased by 239.45% compared with the beginning of the reporting period, mainly due to the company’s acquisition of funds raised from initial public offering of shares during the reporting period.

At the end of the reporting period, the inventory increased by 200.95% compared with the beginning of the period, mainly due to the increase in the quantity and amount of the company’s raw materials and finished products during the reporting period compared with the beginning of the year.

At the end of the reporting period, the fixed assets increased by 186810% compared with the beginning of the reporting period, mainly due to the conversion of the company’s new plant into fixed assets from projects under construction during the reporting period.

At the end of the reporting period, the construction in progress decreased by 99.40% compared with the beginning of the reporting period, mainly due to the conversion of the company’s new plant from construction in progress to fixed assets during the reporting period.

At the end of the reporting period, deferred income tax assets increased by 103.92% compared with the beginning of the period, mainly due to the increase of non offset deferred income tax assets.

(II) analysis of liabilities and description of major changes

Unit: Yuan

Increase and decrease of the project at the end of 2021 and 2020

Short term loan 111162749377735166437 43.71%

Tax payable 10065139462536342419 – 60.32%

Long term loan 13432000000 – 100.00%

Long term accounts payable 195233659 – 100.00%

Deferred income tax liabilities 1956807134282940597 591.60%

Note: the company’s definition of large change is that the amount increases or decreases by more than 1 million yuan and the proportion of increase or decrease is greater than 30%.

At the end of the reporting period, short-term borrowings increased by 43.71% compared with the beginning of the reporting period, mainly due to the new bank borrowings used to supplement working capital during the reporting period.

At the end of the reporting period, the tax payable decreased by 60.32% compared with the beginning of the period, mainly due to the payment of enterprise income tax of the previous year.

At the end of the reporting period, the long-term loan decreased by 100.00% compared with the beginning of the reporting period, mainly due to the repayment of bank project loans during the reporting period.

At the end of the reporting period, the long-term accounts payable decreased by 100.00% compared with the beginning of the reporting period, mainly due to the settlement of long-term accounts payable during the reporting period.

At the end of the reporting period, the deferred income tax liabilities increased by 591.60% compared with the beginning of the reporting period, mainly due to the increase of fixed assets deducted at one time during the reporting period.

(III) analysis of owner’s equity and description of major changes

During the reporting period, due to the company’s initial public offering and listing, the company’s share capital increased from 63000000 shares at the beginning of the period to 84000000 shares.

(IV) analysis of income statement and description of major changes

Unit: Yuan

Increase and decrease range of projects in 20202021

Taxes and surcharges 451292283102630071 339.73%

Administrative expenses 36618489702629484987 39.26%

R & D expenses 23280319521316925520 76.78%

Financial expenses 765983099338598217 126.22%

Credit impairment loss -1550344902 -2535465343 -38.85%

Asset impairment loss -383353309 -185198436 107.00%

Income from asset disposal -848561784833613902 -201.79%

Non operating income 10 Ping An Bank Co.Ltd(000001) Lianhe Chemical Technology Co.Ltd(002250) 38862 – 55.56%

Income tax expense -2188322051877975783 -111.65%

Note: the company’s definition of large change is that the amount increases or decreases by more than 1 million yuan and the proportion of increase or decrease is greater than 30%.

During the reporting period, taxes and surcharges increased by 339.73% over the same period last year, mainly due to the increase of real estate tax and land use tax of new plants during the reporting period.

During the reporting period, the management expenses increased by 39.26% compared with the same period last year, mainly due to the increase of depreciation and supporting expenses corresponding to the relocation of the company to the new plant during the reporting period.

During the reporting period, R & D expenses increased by 76.78% over the same period last year, mainly due to the increase in R & D picking and depreciation expenses due to the relocation of the company to a new plant and the establishment of a testing center during the reporting period.

During the reporting period, financial expenses increased by 126.22% over the same period last year, mainly due to the expensing of special loan interest and the increase of current loans after the conversion of construction in progress to fixed assets.

During the reporting period, the credit impairment loss decreased by 38.85% compared with the same period last year, mainly due to the better collection of fund subsidies receivable and the decrease of credit impairment loss accrued during the reporting period.

During the reporting period, the asset impairment loss decreased by 107.00% compared with the same period last year, mainly due to the increase in the amount of goods in stock and the corresponding increase in the provision for falling price reserves during the reporting period.

During the reporting period, the income from asset disposal decreased by 201.79% compared with the same period last year, mainly due to the increase of non current asset disposal losses caused by the relocation of the company during the reporting period.

During the reporting period, the revenue of the business office decreased by 55.56% compared with the same period last year, mainly due to the decrease in government subsidies unrelated to operation received by the company during the reporting period.

During the reporting period, the income tax expense decreased by 111.65% compared with the same period last year, mainly due to the increase of additional deductible expenses and non taxable income stipulated in the tax law during the reporting period.

(V) cash flow analysis and description of major changes

Unit: Yuan

Increase and decrease of the project from 2021 to 2020

Cash received from selling goods and providing labor services 5549946276442021995011 32.07%

Other cash received related to operating activities 28932270461075834248 168.93%

Subtotal of cash inflow from operating activities 5855974431343348478114 35.09%

Taxes paid 3748613158 19,58