Bear Electric Appliance Co.Ltd(002959)
Financial statement report of 2021
1、 Audit of financial statements in 2021
Bear Electric Appliance Co.Ltd(002959) (hereinafter referred to as “the company”) audited the 2021 financial report by ShineWing Certified Public Accountants (special general partnership) and issued a standard unqualified audit report, which is objective and fair.
2、 Financial statements of the company in 2021
In 2021, the company achieved a total operating income of 36063403 million yuan, a year-on-year decrease of 1.46%; The total profit was 329538 million yuan, a year-on-year decrease of 36.44%; The net profit attributable to shareholders of listed companies was 283398900 yuan, a year-on-year decrease of 33.81%.
(I) analysis and changes of financial position during the reporting period
1. Analysis of assets and reasons for changes
(1) Asset structure
Unit: 10000 yuan
Increase / decrease rate of the project at the end of 2021 and 2020
Monetary capital 66960119736380 – 31.23%
Trading financial assets 1094611012029990 – 9.01%
Notes receivable 0. Huasi Holding Company Limited(002494) 96 – 100.00%
Accounts receivable 12671831188538 6.62%
Advance payment 358859393917 – 8.90%
Receivables financing 0.00 109.49 – 100.00%
Other receivables 704.93 877.98 – 19.71%
Inventory 61624635317779 15.88%
Other current assets 518602449312 15.42%
Long term equity investment 640.43 0.00 100.00%
Other non current financial assets 180.03 150.20 19.86%
Fixed assets 53537402807680 90.68%
Construction in progress 10721192223609 – 51.78%
Use right assets 967.08 0.00 100.00%
Intangible assets 28364501951738 45.33%
Long term deferred expenses 537640286606 87.59%
Deferred income tax assets 134387169147 – 20.55%
Other non current assets 383.87 0.00 100.00%
Total assets 3617119736917958 – 2.02%
Note 1: the above values retain two decimal places. Some data are slightly different in mantissa due to rounding, which is not a calculation error.
(2) Analysis of major changes
① The monetary capital at the end of 2021 was 6696011 million yuan, a decrease of 31.23% over the same period of last year, mainly due to the decrease of net operating cash in the current period;
② The notes receivable at the end of 2021 was 0.00 yuan, a decrease of 100.00% over the same period of last year, mainly due to the cashing of all bank acceptance bills with low credit rating at the end of the period;
③ At the end of 2021, the financing of receivables was 0.00 yuan, a decrease of 100.00% over the same period of last year, mainly due to the full cashing of bank acceptance bills with high credit risk at the end of the period;
④ The long-term equity investment at the end of 2021 was 6.443 million yuan, an increase of 100.00% over the same period of last year, mainly due to the new foreign investment in the current period;
⑤ The fixed assets at the end of 2021 was 535374000 yuan, an increase of 90.68% over the same period of last year, mainly due to the conversion of new plants into fixed assets in this period;
⑥ At the end of 2021, the construction in progress was 1072119 million yuan, a decrease of 51.78% over the same period of the previous year, mainly due to the conversion of new plants to fixed assets in the current period;
⑦ The right to use assets at the end of 2021 was 9.6708 million yuan, an increase of 100.00% over the same period of last year, mainly due to the implementation of the new leasing standards in the current period;
⑧ Intangible assets at the end of 2021 amounted to 283645 million yuan, an increase of 45.33% over the same period of last year, mainly due to the purchase of land use rights in this period;
⑨ The long-term deferred expenses at the end of 2021 were 53.764 million yuan, an increase of 87.59% over the same period of last year, mainly due to the decoration of new plants in this period;
⑩ At the end of 2021, other non current assets were 3.8387 million yuan, an increase of 100.00% over the same period of last year, mainly due to prepayment of long-term assets.
2. Analysis of liabilities and reasons for changes
(1) Debt structure
Unit: 10000 yuan
Increase / decrease rate of the project at the end of 2021 and 2020
Notes payable 934156210868684 – 14.05%
Accounts payable 31797892622462 21.25%
Contract liabilities 399034600591 – 33.56%
Payroll payable 723587632825 14.34%
Taxes payable 243921498837 – 51.10%
Other payables 607065379979 59.76%
Non current liabilities due within one year 27.56 0.00 100.00%
Other current liabilities 8615981558687 – 44.72%
Lease liabilities 970.66 0.00 100.00%
Estimated liabilities 221.14 275.12 – 19.62%
Deferred income 30.00 0.00 100.00%
Total liabilities 1548149017189578 – 9.94%
Note 2: the above values retain two decimal places, and some data are slightly different in mantissa due to rounding, which is not a calculation error.
(2) Analysis of major changes
① At the end of 2021, the contract liabilities were 399034 million yuan, a decrease of 33.56% over the same period of last year, mainly due to the decrease of advance receipts in the current period;
② The tax payable at the end of 2021 was 243921 million yuan, a decrease of 51.10% over the same period of last year, mainly due to the decrease of profits in the current period;
③ Other payables at the end of 2021 were 607065 million yuan, an increase of 59.76% over the same period of last year, mainly due to the recognition of restricted stock repurchase obligations in the current period;
④ The non current liabilities due within one year at the end of 2021 were 275600 yuan, an increase of 100.00% over the same period of last year, mainly due to the lease liabilities recognized in the current period in accordance with the new lease standards;
⑤ At the end of 2021, other current liabilities were 861598 million yuan, a decrease of 44.72% over the same period of last year, mainly due to the decrease of accrued expenses in the current period;
⑥ The lease liability at the end of 2021 was 9.7066 million yuan, an increase of 100.00% over the same period of the previous year, mainly due to the implementation of the new lease standards in the current period;
⑦ The deferred income at the end of 2021 was 300000 yuan, an increase of 100.00% over the same period of the previous year, mainly due to the receipt of government subsidies related to assets in the current period.
(II) analysis and changes of operating results in the reporting period
1. Report on operating results
Unit: 10000 yuan
Increase / decrease rate of the project in 2021 and 2020
1、 Total operating income 3606340336599484 – 1.46%
Including: operating income 3606340336599484 – 1.46%
2、 Total operating cost 3238298931492070 2.83%
Including: operating cost 242414424730775 – 1.98%
Taxes and surcharges 167242231866 – 27.87%
Sales expense 55318354402249 25.66%
Administrative expenses 13078401226459 6.64%
R & D expenses 12988801052415 23.42%
Financial expenses -163951 -151694 -8.08%
Plus: other income 117107137155 – 14.62%
Investment income (loss) at 328441 2,62
