Securities code: Changchai Company Limited(000570) , 200570 securities abbreviation: Su Changchai a, Su Changchai B Announcement No.: 2022014 Changchai Company Limited(000570) 2021 annual report summary
1、 Important tips
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 carefully read the full text of the annual report in the media designated by the CSRC.
All directors have attended the meeting of the board of directors to consider this annual report
Tips on non-standard audit opinions
□ applicable √ not applicable
The profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors
√ applicable □ not applicable
Whether to increase share capital with accumulation fund
□ yes √ no
The company's profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 705692507 as the base, distribute cash dividend of 0.26 yuan (including tax) to all shareholders for every 10 shares, send bonus shares of 0 share (including tax), and do not use the accumulation fund to increase the share capital.
Profit distribution plan for preferred shares in the reporting period adopted by the board of directors
□ applicable √ not applicable
2、 Basic information of the company 1. Company profile
Stock abbreviation: Su Changchai a, Su Changchai B stock codes: Changchai Company Limited(000570) , 200570
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: he Jianjiang
Office address: No. 123, Huaide Middle Road, Changzhou City, Jiangsu Province
Fax (86) 51986630954
Tel: (86) 51968683155
E-mail [email protected].
2. Introduction to main business or products during the reporting period
1. Main business of the company
The company is mainly engaged in the R & D, production and sales of "Changchai" diesel engine and "Robin" gasoline engine. The company's products are mainly used in agricultural machinery, small engineering machinery, light commercial vehicles, generator sets and marine engines, which are closely related to people's livelihood.
During the reporting period, there was no significant change in the company's main business and main products.
2. Main products of the company
The company's main products are divided into two categories: diesel engine and gasoline engine. The details are as follows:
Main graphic product description product features application fields
product
The company's diesel engine products include single cylinder engine and multi cylinder engine, high-power, fuel consuming agricultural machinery and engineering machinery, covering the power range of 1.62kw to 117.6kw, low, low noise, structure machinery, generator set, diesel engine cylinder diameter of 65mm to 135mm, and one or more compact, low emission and marine machinery
Multiple cylinders. In addition to domestic sales, the company's diesel has good reliability
Machine products are exported to Southeast Asia, South America and the Middle East
And Africa.
The company's gasoline engine products are mainly general small gasoline engines, agricultural machinery and small oil engines with simple and reliable structure, covering the power range of 1.5KW to 7.0kw. Construction machinery with good performance and easy maintenance
In addition to domestic sales, the company's gasoline engine products are also exported for maintenance
Southeast Asia, Middle East, Europe, America, Africa, Japan
And other countries and regions.
3. Main business model
(1) R & D mode
The company has established an innovative technology management system guided by market demand and combined with the forward-looking technology of internal combustion engine. Before the development of the company's new products or technologies, the sales department shall first conduct market evaluation and customer research, and then initiate the project according to the predicted market demand; The technology center carries out development according to the project approval materials, and collects the feedback information from the market and customers in real time during the development process, so as to ensure the leading technology and product adaptability.
(2) Procurement mode
The company adopts the procurement mode of "purchase by sales". The ERP system will convert the sales order, the sales plan formulated by the sales department and the production plan formulated by the production department into the demand for missing parts. The procurement department will organize procurement according to the demand for missing parts. At the same time, the procurement department will formulate the parts procurement guidance plan according to the sales plan formulated by the sales department, and provide it to the supplier to urge the supplier to prepare for goods.
(3) Production mode
The company adopts the production management mode of "setting production according to sales". The sales department will formulate sales plans at different stages according to orders in hand, sales data of previous years, judgment of market demand and feedback of existing customers' purchase intention. The production department of the company formulates the production plan according to the sales orders displayed in the ERP system, the sales plan formulated by the sales department and the standby inventory demand, and organizes the production tasks in strict accordance with the plan. During the production process, the quality assurance department will regularly arrange patrol inspection to ensure the product quality.
(4) Sales model
The company adopts the sales mode of "direct selling + distribution", adopts the direct selling mode for the main engine factory, and adopts the dealer mode for the individual circulation market and overseas market represented by farmers.
4. Company's position in the market
The company is mainly engaged in the R & D, production and sales of "Changchai" diesel engine and "Changchai robin" gasoline engine. So far, the company has successfully developed a number of advanced core technologies with independent intellectual property rights. In terms of diesel engines, according to the statistics of China Gas Turbine Industry Association, the market share of the company's single cylinder engine products is high, and the market share of single cylinder diesel engines in some power sections has ranked first in China. It is the largest manufacturer of medium and small power single cylinder diesel engines in the agricultural machinery industry in China. Over the years, in the process of realizing the steady development of enterprise economy, the company has cultivated and developed "Changchai", a famous national brand in China's firewood industry with independent intellectual property rights and well-known at home and abroad.
5. Key performance drivers
(1) National policy promotion
In recent years, various state departments have launched a series of preferential policies to encourage the development of internal combustion engine industry. In terms of agricultural machinery, the central government has always regarded solving the "three rural" problems as the top priority of the party and government's work. The introduction of a series of preferential agricultural policies has created a good atmosphere for promoting the development of agriculture and rural economy and society; In terms of construction machinery, the "western development" strategy, the "eight vertical and eight horizontal" planning of high-speed rail network and the "new rural construction" policy have created a better policy environment for the application of downstream construction machinery of internal combustion engine.
(2) Industrial chain synergy empowers the company's sustainable development
The company has built its own casting manufacturing and processing plant to meet the needs of some diesel engine parts. In terms of production and quality, it has formed a significant synergistic effect with its own internal combustion engine assembly team. The casting manufacturing team and internal combustion engine assembly team have jointly improved to form a positive feedback cycle of mutual promotion, so as to help the company integrate the internal combustion engine industry chain and build a differentiated industry barrier. In terms of production coordination, reducing external procurement is of great significance for the company's products to reduce process flow, reduce intermediate loss, improve production efficiency, shorten delivery time and increase procurement bargaining power. In terms of quality coordination, the self built foundry can improve the quality control of the company's parts, and then improve the yield and reliability of internal combustion engine products.
(3) Stable and efficient R & D team
The company has experienced technical management team and perfect technical support team. The core technicians and R & D managers have long been engaged in the field of internal combustion engine R & D, design, production and manufacturing, have profound professional knowledge and rich practical experience, and have strong foresight and scientificity in judging the market direction and technical route. At the same time, the company has formed an effective training mechanism to provide strong talent guarantee for subsequent R & D. (4) The brand is well-known and has many well-known customers
The company, formerly known as Changzhou Diesel Engine Factory, is a national industrial enterprise with a history of 100 years. It is one of the earliest professional manufacturers of internal combustion engines in China. As the Beijing Dynamic Power Co.Ltd(600405) , the company's diesel and gasoline engine products have shown excellent performance in terms of power range, reliability, power rise, noise control and emission standards, and have been recognized by customers. The company has cooperated with major customers for a long time, and the cumulative cooperation time is more than 15 years. Many main engine factory customers are well-known enterprises in the agricultural machinery industry, and the market share is in the forefront of the market. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
By the end of 2021, by the end of 2020, by the end of this year compared with the end of last year, by the end of 2019
Increase or decrease
Total assets 48 Jiangsu Luokai Mechanical & Electrical Co.Ltd (603829) 6126395295446445 22.96% 34888203246 0
Net assets attributable to shareholders of listed companies 307755001833227334934702 35.38% 21108927675 8
20212020 year-on-year increase or decrease 2019
Operating income 245243051560229646471124 6.79% 20458208011 0
Net profit attributable to shareholders of listed company: 10 Jiangsu Jiejie Microelectronics Co.Ltd(300623) 2545243244305 96.46% 2496652685
Deduction of 5329092872548314757 - 79.09% of net profit attributable to shareholders of listed company 1440548564 except for recurring profit and loss
Cash flow from operating activities -2663237793025179665453 -- 2032518956 net
Basic earnings per share (yuan / share) 0.1657 0.093477.41% 0.0445
Diluted earnings per share (yuan / share) 0.1657 0.093477.41% 0.0445
Weighted average return on net assets 3.86%, 2.40%, 1.46%, 1.21%
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
Operating income 77421848969722951966114841836705847107638922
Net profit attributable to shareholders of listed companies 245712548310461781077 - 23,47
