Company code: Zhejiang Sanfer Electric Co.Ltd(605336) company abbreviation: Zhejiang Sanfer Electric Co.Ltd(605336) Zhejiang Sanfer Electric Co.Ltd(605336)
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 http://www.sse.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 Ernst & Young Huaming 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
According to the audit of Ernst & Young Huaming Certified Public Accountants (special general partnership), as of December 31, 2021, Zhejiang Sanfer Electric Co.Ltd(605336) the net profit attributable to the owners of the parent company (consolidated basis) in 2021 was 24660577965 yuan, and the distributable profit at the end of 2021 was 65552009383 yuan. In accordance with the company law and other relevant laws and regulations, the stock listing rules of Shanghai Stock Exchange and the articles of association, the company has formulated the following plans for profit distribution and conversion of provident fund into share capital in 2021:
Based on the total share capital registered on the date of equity distribution, the company plans to distribute cash dividends of RMB 13.90 (including tax) to all shareholders for every 10 shares, and increase 3 shares for every 10 shares to all shareholders with capital reserve. Based on the calculation of the total share capital of the company on the day of the 17th meeting of the second board of directors, a total of 19781263750 yuan of cash dividends (including tax) were distributed, and a total of 42693375 shares were converted into share capital. The proportion of cash dividends of the company in this year accounts for 80.21% of the net profit attributable to the shareholders of the company.
If the total share capital of the company changes before the date of equity distribution and equity registration, it shall be distributed according to the principle that the distribution per share and the proportion of conversion to increase remain unchanged, and the total amount of distribution and conversion to increase shall be adjusted accordingly, and the specific adjustment will be announced separately.
The profit distribution plan and the plan of converting reserve fund into share capital need to be submitted to the 2021 annual general meeting of shareholders of the company 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 Sanfer Electric Co.Ltd(605336) Zhejiang Sanfer Electric Co.Ltd(605336) none
Contact person and contact information: Secretary of the board of directors
Name: Wang Zhongjie
Office address: No. 100, Wuhe West Road, Shengzhou Economic Development Zone, Shaoxing City, Zhejiang Province
Tel: 057583356233
E-mail [email protected].
2. Introduction to the company’s main business in the reporting period
According to the total data pushed by AVC, in 2021, the overall scale of China’s kitchen and bathroom market (range hood, gas stove, disinfection cabinet, dishwasher, embedded, integrated stove and water heater) reached 91.56 million units and 152.8 billion yuan, with a year-on-year decline of 6% and a year-on-year increase of 7%. Among them, the performance of traditional kitchen appliances (range hood, gas stove and disinfection cabinet) is relatively weak. In 2021, the overall retail volume of traditional kitchen appliances market was 51.53 million units, with a retail volume of 56.4 billion yuan, a year-on-year decline of 9% and a year-on-year increase of 2%.
As one of the fastest growing segments of the kitchen and bathroom market, integrated stoves have maintained a steady growth of more than double digits for many years. In 2021, according to the total data pushed by ovicloud, the market scale of integrated stoves reached 3.04 million units, with a retail volume of 25.6 billion yuan. The retail volume increased by 28% year-on-year and 41% year-on-year. In 2021, the ratio of the retail volume of integrated stoves to the retail volume of range hoods was about 1:720, 1:12 in 19, and the ratio of the retail volume of integrated stoves to the retail volume of gas stoves was close to 1:8, and 1:14 in 2009. The industry penetration rate of integrated stoves The substitution rate of traditional smoke stoves was further improved.
In recent years, due to the increase of urbanization rate, the demand for household kitchen electrical products has increased, the per capita disposable income has increased, the ownership rate of household kitchen appliances has been gradually increased, the consumer groups have been upgraded, the consumption concept has been upgraded, the transformation of old kitchens, small and medium-sized households and open kitchen decoration have increased the rigid demand of integrated stoves, and the overall scale of integrated stoves industry has shown a growth trend.
Integrated stove is a comprehensive kitchen appliance that integrates various kitchen functions such as range hood, gas stove, disinfection cabinet, electric steamer, electric oven and storage cabinet. Compared with the traditional smoke machine and stove separately installed, the integrated stove has the characteristics of saving kitchen space, high oil fume absorption rate, environmental protection, energy saving, no oil fume and ultra silence. It has the attribute of consumption upgrading and can replace the traditional smoke stove products. In the future, based on the performance advantages of integrated stove products over traditional smoke stove products, as well as the advantages of functional integration and space saving, in addition to enjoying the natural growth of kitchen electricity industry, integrated stove products will also accelerate the replacement speed of traditional range hood and gas stove, and the market penetration rate is expected to continue to improve, so as to further promote the growth of the market scale of integrated stove products. Therefore, from the perspective of the overall demand of the smoke stove market, the integrated stove still has a large and broad industry growth space and broad market capacity.
(I) main business of the company
The company focuses on the R & D, design, production and sales of new intelligent kitchen appliances with integrated stoves as the core, and there is no significant change during the reporting period.
The company always adheres to the mission of “treating life well with science and technology”. The product R & D and design are based on the needs of users. Over the years, the integrated stove series products have been continuously upgraded from the initial goal of “completely solving the problem of oil fume in Chinese kitchen”, gradually increasing the functions of oven, steamer, integrated steaming and baking, independent steaming and baking, and adding air baking, so as to enlarge the characteristics of “integration”, Effectively solve the pain points of small kitchen space but many functional needs of current consumers.
At the same time, through technological innovation, the company integrates intelligent functions such as infrared monitoring and voice control into product design, improves kitchen problems with science and technology, and provides consumers with safe, healthy, intelligent and beautiful cooking experience. The company has always adhered to the horizontal expansion of the kitchen electric field and constantly enriched the product categories. In addition to the integrated stove, the company has successively supported a series of products such as sink, dishwasher, integrated sink, embedded kitchen electric, gas water heater and cabinet. At the same time, it is gradually promoting the whole kitchen and whole house customization, and the product matrix is gradually improved. It is committed to providing consumers with one-stop integrated smart kitchen solutions.
(II) industry position
Since the establishment of a team to develop integrated stove products in 2005, the company has continuously cultivated in the field of integrated stove and carried out iterative upgrading of integrated stove products. From the single oven, steamer and integrated stove, to the integrated steaming and baking model, and then to the double combination style of left steaming and right baking, the company is at the leading level in the industry in terms of product function and technical performance. According to the authoritative research data of Euromonitor International, the sales volume of shuaifeng integrated steaming and baking stove led the country for three consecutive years from 2019 to 2021. During the double 11, the T6 and J2 products of the company won the sales crown of tmall and jd.com steaming and baking independent products respectively, and the T1 products won the sales crown of tmall steaming and baking integrated products for two consecutive years.
With excellent product performance and enterprise strength, shuaifeng is one of the few companies in the integrated stove industry that has participated in the drafting and formulation of international, national, industrial, group and local standards at the same time. At the same time, with years of continuous technology research and development, the company has accumulated the core technology of integrated stove production, and many performance indexes of products are in the forefront of the industry.
(III) business model of the company
1. Flat and efficient dealer model
Integrated stove products have strong offline attributes. Since its establishment, the company has always taken the flat and efficient dealer model as the main sales model, and the dealers in provincial capitals, prefecture level cities and county-level cities are headquarters type flat vertical management. This mode is conducive to the company’s standardized external image, unified price and improved service efficiency. By the end of the reporting period, the company had nearly 1300 dealers and more than 1600 sales terminals.
2. Wuxi Online Offline Communication Information Technology Co.Ltd(300959) coordinated development
As a solid foundation for marketing services, more than 1000 dealers and sales terminals have successively settled in tmall, jd.com and Suning.Com Co.Ltd(002024) and other large e-commerce platforms in order to adapt to the changes of the era of online migration of consumption habits, and simultaneously launched online special contributions and Wuxi Online Offline Communication Information Technology Co.Ltd(300959) same price, which is convenient for dealers and users to choose and make Wuxi Online Offline Communication Information Technology Co.Ltd(300959) promote each other and develop in coordination.
3. Rapid expansion of diversified channels
With the increasing popularity of integrated stoves, the industry penetration and market share are growing. The rapid expansion of diversified channels will help the company seize the market share. The company has comprehensively carried out diversified channel layout in home decoration channels, Ka channels and engineering channels, which will help the company increase. 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 224897741635199630760383 12.66101091126456
Net assets attributable to shareholders of listed company 189204469722169889226408 11.3771338428817
Operating income 9776412544371399008402 36.9369822367608
Attributable to listed companies
The net profit of shareholders of the company 2466057796519425978765 26.9517396663077 belongs to the listed company
The net profit of the company’s shareholders deducting 2254761327717954233024 25.581487755576 non recurring profits and losses is generated from operating activities
Net cash flow of 1777780253517373272958 2.332433470507
Weighted average net assets 13.77 19.27 decreased by 5.5% yield (%) points
Basic earnings per share 1.75 1.70 2.94 1.65 (yuan / share)
Diluted earnings per share 1.75 1.70 2.94 1.65 (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
From June to April
Operating income 15525219189263502118862678400669029104687678
The net profit attributable to the shareholders of the listed company 3415448751902773778759560571116261334316 belongs to the shareholders of the listed company
Net profit after deducting non recurring profit and loss 3120523035766269010657056496646058750472
Cash generated from operating activities 294876817643570939655793436395467872683 description of the difference between quarterly data of net flow and data in the disclosed periodic report □ applicable √ not applicable 4 shareholders 4.1 total number of common shareholders and voting rights at the end of the reporting period and the month before the disclosure of the annual report
