Company code: Zhejiang Dayuan Pumps Industry Co.Ltd(603757) company abbreviation: Zhejiang Dayuan Pumps Industry Co.Ltd(603757) Zhejiang Dayuan Pumps Industry Co.Ltd(603757)
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. 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. 3. All directors of the company attend the board meeting. 4. Lixin Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
The profit distribution plan for 2021 approved by the ninth meeting of the third board of directors held on April 7, 2022 is as follows: the company plans to distribute profits based on the total share capital registered on the equity registration date of equity distribution in 2021, and the specific date will be specified in the equity distribution implementation announcement. The company plans to distribute a cash dividend of 3.50 yuan (including tax) to all shareholders for every 10 shares. As of April 7, 2022, the total share capital of the company is 168219000 shares. Based on this calculation, it plans to distribute a total cash dividend of 5887665000 yuan, and the remaining profits are carried forward for annual distribution in the future. If the total share capital of the company changes due to various reasons from April 7, 2022 to the date of equity distribution and equity registration, the company plans to maintain the distribution proportion per share unchanged and adjust the total distribution accordingly. In case of subsequent changes in the total share capital, the specific adjustment will be announced separately. No capital reserve will be converted into share capital and bonus shares will be given for this profit distribution. The matter still needs to be submitted to the general meeting of shareholders for deliberation.
Section II basic information of the company
1 company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Zhejiang Dayuan Pumps Industry Co.Ltd(603757) Zhejiang Dayuan Pumps Industry Co.Ltd(603757) no change in the reporting period
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Yu Wen
Office address: Danya Industrial Zone, Zeguo Town, Wenling City, Zhejiang Province
Tel: 057686441299
E-mail [email protected].
2. Introduction to the company's main business in the reporting period
1. The industry of the company belongs to the pump industry of general mechanical equipment in terms of categories. In terms of industry segmentation, it belongs to the civil water pump (mainly characterized by general-purpose and small water pumps) and shielded pump industry. The shielded pump industry can be further subdivided into household shielded pump industry and industrial shielded pump industry.
2. The phenomenon of internal business differentiation in the civil water pump industry has further emerged. The differentiation is not only reflected among enterprises with different business scales, but also among enterprises with different market segments and business models. The proportion of raw material cost to production cost is generally high in the industry. During the reporting period, the continuous high operation of bulk commodity prices brought universal challenges to the industry. In the medium and long term, the industry competition pattern is more certain to be optimized and reshaped in the face of large fluctuations in the external business environment. Some subjects with small business scale and insufficient risk response ability are expected to be cleared out of the market. According to public statistics, the annual output value of the small civil water pump industry in Wenling area, Taizhou, Zhejiang Province, where the company is located alone is about 45 billion yuan, while the number of similar enterprises is about 2600, and the market share of leading enterprises has a huge room to improve in the future.
3. The downstream horizontal expansion space of household canned motor pump is broad. Under the goal of "double carbon", the overseas market is the first to usher in the technology and product upgrading cycle. The downstream market coverage of household canned motor pump includes the whole house heating, whole house pressurization and water circulation, kitchen appliances, bathroom, bedroom, living room, outdoor pipeline and garden, and other intelligent and comfortable home life scenes in the whole house. The application field is very broad. Among them, wall mounted furnace and household pipeline circulation are one of the company's key downstream markets at this stage, and the company's technical reserve or product line is extending to the business field under the whole house life scenario.
From the perspective of global market development, the household pump industry is ushering in industrial upgrading opportunities under the development goal of "carbon neutralization and carbon peak". The construction sector is the highest source of end consumption of carbon emissions. According to the relevant report data of China State Construction Engineering Corporation Limited(601668) Energy Conservation Association, from the source of carbon emissions, in 2018, the carbon emissions of the construction sector in the construction operation stage alone accounted for 21.9% of China's total carbon emissions. As a general equipment, the use and promotion of energy-saving technology is of great value to decarbonization transformation. Over the years, Hefei Xinhu has continued to carry out R & D and innovation on the next generation of household high-efficiency and energy-saving pump products. As a leader and leading enterprise of household shielded pump in China, its energy-saving pump technology is in a leading position in the same industry in China. It is the main drafting unit of many mainstream standards such as China's intelligent hot water circulation shielded electric pump. At present, the high-efficiency energy-saving pump is mainly sold in the European Union, North America and other markets, and is still in its infancy in the Chinese market. The application and upgrading trend of energy-saving technology of household pumps is highly deterministic, and will drive the continuous optimization of the competition pattern of the industry. Hefei Xinhu is expected to deeply participate in the global market competition in the future and further expand its leading advantage in the Chinese market by relying on its technological innovation ability.
4. Shield pumps for industrial use are widely used, with high prosperity in many major downstream markets and strong demand certainty. There is a broad space for domestic replacement in the future. Due to its acid and alkali corrosion resistance, safety, no leakage, low noise, maintenance free and other technical characteristics, shielded pump has strong technical and market promotion value in the face of "flammable, explosive, high temperature, ultra-low temperature, strong corrosion, high pressure, radioactive, highly toxic and precious" liquid environment. Typical markets and application fields mainly include high-end petrochemical, air conditioning and refrigeration, clean energy (nuclear power, wind power, photovoltaic, hydrogen energy) New energy vehicles, aerospace industry, electronics and semiconductor industry, medical devices, environmental protection and water treatment, information infrastructure construction and other industrial markets.
Industrial canned motor pump has a broad market space. Taking the application of canned motor pumps in the chemical market as an example, based on the observation or research data of many industries such as Europump, the current global total scale of the chemical pump market is about US $16 billion to US $20 billion. As an important category of chemical pumps, canned motor pumps have a large application space in the future. The development of industrial canned motor pump started late in China, but in recent years, enterprises with Chinese private capital as the background have made rapid technological progress. From the perspective of competition pattern, about a dozen enterprises in China have the production capacity of canned motor pumps. Although there is still a certain gap with the global industry leading enterprises, in recent years, domestic technology leading enterprises have increased the transformation of production equipment and process improvement through continuous investment in innovation and R & D, resulting in the continuous improvement of design capacity, processing accuracy and production efficiency, the continuous enhancement of product serialization and generalization, and the continuous enrichment of specifications and varieties, There is a broad space for domestic substitution in the future.
(I) main business
The company is mainly engaged in the R & D, production, sales and provision of relevant services of various pumps. It is a global well-known brand civil water pump provider with decades of brand history. At the same time, it is also a high-tech enterprise and leading enterprise in China's shielded pump industry. During the reporting period, the company's main business has not changed. The company's products are mainly divided into two categories: one is the civil water pump represented by small submersible pump, well submersible pump, land pump and other products, which are widely used in agriculture, forestry and animal husbandry, enterprise production and residents' life, urban and rural construction, environmental protection and water management, and the parent company is mainly responsible for the overall operation; The other is the shielded pump represented by domestic shielded pump, industrial shielded pump and other products. The shielded pump is mainly used for the transmission and circulation of hot water or other special media. It has the characteristics of low noise, no leakage and high reliability. Its application fields mainly include water circulation (including supporting household appliances), chemical industry, refrigeration, new energy (hydrogen energy) automobile, semiconductor and electronic industry, nuclear power, wind power, laser In terms of information infrastructure, aerospace industry, ship and medical equipment manufacturing, the subsidiaries were mainly responsible for the overall operation of these products during the reporting period.
(II) business model
During the reporting period, there was no significant change in the company's business model, as follows:
1. Purchase mode: the company's sales department forecasts orders on a monthly basis, the production department prepares production plans in combination with sales demand forecasts and finished product inventory, and the material control department formulates and implements purchase plans in combination with production demand and surplus inventory; In the procurement process, the basic and general materials shall be reasonably prepared according to the situation to deal with the price fluctuation of raw materials.
2. Production mode: for civil water pump products, the company adopts the production mode based on inventory and supplemented by order according to the seasonality of product market demand and the company's supply chain capacity; For canned motor pump products, due to certain customization needs of downstream customers, the company generally adopts the production mode of order based production and inventory based production.
3. Sales mode: the company's civil water pump products are widely used, there are many downstream customers and the final customers are scattered. Therefore, the company adopts the sales mode dominated by distribution and supplemented by direct sales; At present, the company's hot water circulation shield pump, industrial shield pump and other products mostly rely on the direct sales mode. Because the corresponding downstream customers are clear and centralized, it is suitable to adopt the direct sales mode, and can achieve the purpose of providing personalized services for customers. 3 main accounting data and financial indicators of the company 3.1 main accounting data and financial indicators in recent three years
Unit: yuan currency: RMB
20212020 compared with 2019 of the previous year
Increase or decrease (%)
Total assets 165684403586159590705124 3.82141611814651
Attributable to listed companies
Net assets of shareholders of the company 127298197419126157067273 0.90112534468138
Operating income 148431540355141313146492 5.04113485547037
Attributable to listed companies
The net profit of shareholders of the company 1472163360421340487594 -31.0217065637091 belongs to the listed company
Net profit of shareholders of the company deducting 134495117 Elec-Tech International Co.Ltd(002005) 6947596 -32.9415159777688 non recurring profits and losses arising from operating activities
Net cash flow 1627449767815572311344 4.5125003845187
Weighted average net assets were 11.79 and 17.88, with a decrease of 6.09 percent and 16.14 yield (%) points
Basic earnings per share 0.89 1.30 -31.54 1.04 (yuan / share)
Diluted earnings per share 0.89 1.30 -31.54 1.04 (yuan / share)
3.2 main accounting data by quarter in the reporting period
Unit: yuan currency: RMB
First quarter second quarter third quarter fourth quarter
(January March) (April June) (July September) (October December)
Operating income 29101210252380476701904042923896240853420951
The net profit attributable to listed company shares 3509464179383026 Chengdu Wintrue Holding Co.Ltd(002539) 929701493388939251 East belongs to listed company shares
Deduction of non recurring items in East China 3292350706358292087238678702822706369
