Welle Environmental Group Co.Ltd(300190)
Financial statement report of 2021
The company's consolidated and parent company's balance sheet on December 31, 2021, consolidated and parent company's income statement in 2021, consolidated and parent company's cash flow statement in 2021, consolidated and parent company's statement of changes in shareholders' equity in 2021 and notes to relevant statements were audited by ShineWing Certified Public Accountants (special general partnership), and a standard unqualified audit report was issued.
1、 Main financial indicators in 2021
Main financial indicators: increase or decrease over the previous year in 2021 / end 2020 / end this year
Basic earnings per share (yuan / share) 0.24 0.46 - 47.83%
Weighted average return on net assets 4.26%, 8.77% - 4.51%
（%）
Cash generated from operating activities per share: 0.42, 0.46 - 8.70%
Net cash flow (yuan / share)
Accounts receivable turnover rate 1.57 - 1.87 - 16.04%
Inventory turnover rate 1.73 1.33 30.08%
Current ratio (Times) 1.42 - 1.53 - 7.38%
Quick ratio (Times) 0.95 1.05 -9.94%
Asset liability ratio (%) 57.58% 55.07% 2.51%
1. During the reporting period, the basic earnings per share of the company was 0.24 yuan / share, a decrease of 47.83% compared with 0.46 yuan / share in 2020, and the weighted average return on net assets of the company was 4.26%, a decrease of 4.51% compared with 2020. The main reason is that affected by the epidemic, some projects did not reach the revenue recognition node, and the price of raw materials increased, resulting in the decline of profits.
2. During the reporting period, the net cash flow from operating activities per share was 0.42 yuan / share, a decrease of 8.7% compared with 0.46 yuan / share in 2020, mainly due to the increase in the price of raw materials and the decrease in the net cash flow from operating activities due to the epidemic in the reporting period.
3. During the reporting period, the company's accounts receivable turnover rate was 1.57, down from 1.87 in 2020
16.04%, mainly due to the impact of the epidemic, some projects did not receive payment on schedule. The company's main customers are government units and large group enterprises. The payers have high credit and most of them have good collection records. The possibility of large-scale payment difficulties or credit risk is very small. The existing customer structure of the company determines that the risk of bad debt of the company's accounts receivable is small.
4. During the reporting period, the current ratio and quick ratio decreased by 7.38% and 9.94% respectively compared with the same period of the previous year, and the asset liability ratio increased by 2.51% compared with 2020, mainly due to the increase of investment projects in the reporting period. The current asset liability ratio of the company is 57.58%, the asset liability ratio is still at a relatively healthy level, and the company has strong solvency.
2、 Operating results in 2021
Project year 2021 (yuan) year 2020 (yuan) year-on-year growth this year over the previous year (yuan)
Operating income 315324213682320273419399 - 4949205717 - 1.55%
Operating cost 2289189198572244763455014442574356 1.98%
Business tax and surcharges 11185198242105053292 -986533468 -46.87%
Sales expenses 14845432686131169162911728516395 13.18%
Administrative expenses 221284675791846544 Quectel Wireless Solutions Co.Ltd(603236) 63021547 19.84%
R & D expenses 1168591198111052791057633120924 5.73%
Financial expenses 1226582642392439886163021837807 32.69%
Credit impairment loss -8834197401 -6261165573 -2573031828 41.10%
Asset impairment loss -818108321 -1601374043783265722 -48.91%
Other income 32447647754620163991 -1375399216 -29.77%
Operating profit 1855450115441114380909 - 22559879755 - 54.87%
Non operating income 15215058642591602775 - 1070096911 - 41.29%
Non operating expenses 359349165774264433 - 414915268 - 53.59%
Total profit 1971665785342931719251 -23215061398 -54.07%
Income tax expense 14591870656542926798 - 5083739733 - 77.70%
Net profit 1825747078836388792453 -18131321665 -49.83%
During the reporting period, the company's operating revenue was 315324213682 yuan, a decrease of 1.55% over the same period of last year, the operating cost was 228918919857 yuan, an increase of 1.98% over the same period of last year, the financial expense was 12265826423 yuan, an increase of 32.69% over the same period of last year, the credit impairment loss was -8834197401 yuan, an increase of 41.1% over the same period of last year, the asset impairment loss was -818108321 yuan, a decrease of 48.91% over the same period of last year, and other income was 3244764775 yuan, Compared with the same period of last year, the non operating income was 1521505864 yuan, down 41.29% compared with the same period of last year, the operating profit was 18554501154 yuan, down 54.87% compared with the same period of last year, the total profit was 19716657853 yuan, down 54.07% compared with the same period of last year, the income tax expense was 1459187065 yuan, down 77.7% compared with the same period of last year, and the net profit was 18257470788 yuan, down 49.83% compared with the same period of last year. The specific changes are as follows:
1. During the reporting period, the operating revenue decreased by 1.55% respectively compared with the same period of the previous year; The operating cost increased by 1.99% over the same period of last year, mainly due to the fact that some projects did not reach the revenue recognition node due to the impact of the epidemic in 2021; Under the influence of the epidemic, the price of raw materials increased, the labor cost increased and the gross profit decreased.
2. During the reporting period, the financial expenses were 12265826423 yuan, an increase of 32.69% over the same period of last year, mainly due to the increase of interest expenses due to the financing of new projects in the reporting period; The bond interest accrued during the reporting period increased compared with the same period of last year.
3. During the reporting period, the credit impairment loss was -8834197401 yuan, an increase of 41.1% over the same period of the previous year, which was mainly due to the increase in the credit impairment loss of accounts receivable due to the failure of collection of some items on schedule due to the epidemic. 4. During the reporting period, other income was 3244764775 yuan, a decrease of 29.77% over the same period of last year, mainly due to the reduction of VAT rebate in the reporting period.
5. During the reporting period, the non operating income was 1521505864 yuan, a decrease of 41.29% over the same period of last year, mainly due to the completion of performance compensation by the commitment party in the same period of last year.
6. During the reporting period, the income tax expense was 1459187065 yuan, a decrease of 77.7% over the same period of last year, mainly due to the decrease in the total profit and the decrease in the accrued income tax expense during the reporting period.
7. During the reporting period, the operating profit was 18554501154 yuan, a decrease of 54.87% over the same period of the previous year, the total profit was 19716657853 yuan, a decrease of 54.07% over the same period of the previous year, and the net profit was 18257470788 yuan, a decrease of 49.83% over the same period of the previous year. The main reason was that some projects did not reach the revenue recognition node due to the epidemic in the reporting period, and the price of raw materials increased, resulting in the decline of profits.
3、 Balance sheet at the end of 2021
The project will increase from December 31, 2021 to December 31, 2020 compared with the previous year, and this year will increase compared with the previous day (yuan) (yuan) (yuan)
Monetary capital 1116656113737542233511136243276262 48.05%
Trading financial assets 2606788888958813464174 - 32745575285 - 55.68%
Notes receivable 220641925571011950573011944686827 118.04%
Accounts receivable 1768352313061747067051152128526191 1.22%
Receivables financing 29462641 Jiangsu Tongda Power Technology Co.Ltd(002576) 873421369390679 14.33%
Prepayment 1126150899875520810983709427900 49.12%
Other receivables 1846366308219177009751 -713346669 -3.72%
Inventory 750592181646191863482113140583343 21.22%
Contract assets 122897839120109048942415138488996705 12.70%
Long term equity investment 400783418062189203374318186308063 83.07%
Other non current financial assets 568705421515321927611 - 9634873396 - 62.88%
Fixed assets 4445906701152025482960 - 7566415949 - 14.54%
Construction in progress 836735139336680120432516872309608 25.26%
Intangible assets 1,83
