Company code: Suzhou Veichi Electric Co.Ltd(688698) company abbreviation: Suzhou Veichi Electric Co.Ltd(688698) Suzhou Veichi Electric Co.Ltd(688698)
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 the website of Shanghai Stock Exchange at www.sse.com com. cn. The website carefully reads the full text of the annual report. 2 major risk tips
The fourth “risk factors” in Section III “management discussion and analysis” of this report has described and revealed in detail the core competitiveness risk, operation risk, financial risk, industry risk, macro environmental risk and other major risks. Please refer to it. 3 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. 4. All directors of the company attended the board meeting. 5 Daxin Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 6. The company is not profitable and has not yet achieved profitability when it is listed □ yes √ No 7. The profit distribution plan or the plan for the conversion of provident fund into share capital in the reporting period adopted by the resolution of the board of directors
The company’s profit distribution plan for 2021 is as follows: the company plans to distribute cash dividends of 1.76 yuan (including tax) to all shareholders for every 10 shares based on the total share capital on the date of equity registration of dividend distribution in 2021, and the total amount of cash dividends is expected to be 3168000000 yuan, accounting for 25.00% of the net profit attributable to shareholders of Listed Companies in the consolidated statements of the company in 2021; The company does not convert the capital reserve into share capital, does not give bonus shares, and the remaining undistributed profits are carried forward to the next year.
The company’s profit distribution plan for 2021 has been deliberated and approved at the 21st Meeting of the first board of directors and needs to be submitted to the general meeting of shareholders for deliberation. 8. Whether there are important matters such as special arrangements for corporate governance □ applicable √ not applicable
Section II basic information of the company
1 company profile company stock profile √ applicable □ not applicable
Company stock profile
Stock type stock exchange and sector stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Kechuang board Suzhou Veichi Electric Co.Ltd(688698) Suzhou Veichi Electric Co.Ltd(688698) not applicable
Profile of the company’s depositary receipts □ applicable √ not applicable contact person and contact information
Contact person and contact information secretary of the board of directors (domestic representative of information disclosure) securities affairs representative
Name: he Wanzhu Ouyang Kexin
Office address: No. 1000, Songjia Road, Guoxiang street, Wuzhong Economic and Technological Development Zone, Suzhou
Tel: 051266171988075585285686
E-mail [email protected]. [email protected].
2. Introduction to the company’s main business in the reporting period (I) main business, main products or services
Since its establishment, the company has been focusing on the field of electrical transmission and industrial control. The company’s main business is the R & D, production and sales of frequency converter, servo system and motion control products. During the reporting period, the sales volume of the company’s main products and main business income maintained rapid growth, with a good development momentum.
The company accurately grasps the industry trend, adheres to the market demand, maintains strong R & D efforts, continuously develops and successfully launches new products with stronger functions, better quality and higher efficiency. The company is a high-tech enterprise, a private science and technology enterprise in Jiangsu Province, the technology center of industrial enterprises in Jiangsu Province, “2021 user satisfaction brand in the field of motion control”, “2021 Taurus science and Innovation Award”, and the title of specialized and new “little giant” enterprise issued by the Ministry of industry and information technology in September 2021.
(1) Frequency converter
The frequency converter products developed and produced by the company are mainly divided into general-purpose frequency converter and industry special machine. Among them, general-purpose frequency converter mainly includes ac800, ac330, ac320, ac310, AC300, AC200, AC70, AC10, AC01 and other series, with voltage level ranging from 220V to 3300v AC and power range ranging from 0.4KW to 1200kW; Special machines for frequency converter industry include construction elevator integrated machine, tower crane integrated machine, Mining Flameproof Frequency Converter movement, air compressor integrated driver, photovoltaic water lifting inverter, silicon carbide special driver, HVAC special frequency conversion cabinet, etc. Frequency converter products are widely used in lifting, mining equipment, rail transit, efficient energy, intelligent equipment, compressor, photovoltaic water lifting, building materials, metallurgy, municipal administration, petroleum, HVAC, logistics and storage, chemical industry and other national economic industries.
(2) Servo system
The servo systems developed and produced by the company include general servo systems and industry special machines. Among them, the general servo systems mainly include sd600, sd700 and sd710 series, with voltage levels of 48VDC, 220VAC and 380VAC and power range of 50W to 200kW; Special aircraft products in the industry include SD500, sd650 and ehs100 series; Servo system products are widely used in machine tools, printing and packaging, textile machinery, woodworking machinery, Siasun Robot&Automation Co.Ltd(300024) / manipulator, electronic equipment and other industries.
(3) Control system
The control system products developed and produced by the company mainly include PLC and motion controller products. Among them, PLC products are mainly VC5, vc3 and vc1s Small PLC series, motion controllers are mainly V5 series, and industry-specific controllers are mainly vc600 loom intelligent electric control system. The control system products mainly form an industry comprehensive solution with servo system and frequency converter products, which are mainly used in CNC machine tools, food packaging, textile machinery, electronic equipment and other industries.
The details of the company’s main products are shown in the table below:
Product line product series application industry
other
Ac800 multi machine drive frequency converter series steel, metallurgy, petroleum, port hoisting, paper machinery, marine ships, test platforms, etc
Ac330 special driver for synchronous reluctance motor, plastic machinery, high efficiency energy, intelligent equipment, textile series machinery, pharmaceutical machinery, fans, pumps, etc
Ac320 high-speed motor special driver series, high-efficiency energy, intelligent equipment, petroleum, chemical and other industries
General purpose inverter ac310 / AC10 / AC01 general purpose inverter is used for machine tools, electronic equipment (assembly line), plastics, printing, packaging, textile and chemical fiber, etc
Inverter high efficiency energy, intelligent equipment, plastics, building materials, printing product line AC300 / AC200 high performance vector inverter brush packaging, textile and chemical fiber, municipal administration, metallurgy, petroleum and chemical industry
Hoisting, mining equipment, high efficiency energy, intelligent equipment, AC70 general frequency converter series plastics, building materials, printing and packaging, textile and chemical fiber, metallurgy, petroleum and chemical industry
S200 series construction elevator integrated crane – construction machinery
Industry specific QT tower crane integrated driver series hoisting – construction machinery
Energy efficient AP Series air compressor integrated driver
Si series photovoltaic water lifting inverter
Product line product series application industry
other
ACP Series Mining Flameproof Frequency Converter movement mining equipment – mine hoist, belt conveyor, shearer, emulsion pump, scraper, mining fan, etc
Silicon carbide special driver, hydrogen energy vehicle, ultra-high speed motor drive
Special frequency conversion cabinet for HVAC HVAC
General servo sd710 high performance servo system series machine tools, printing and packaging, textile machinery, woodworking machinery, servo system sd700 general servo system series Siasun Robot&Automation Co.Ltd(300024) / manipulator, electronic equipment, etc
Series product ehs100 hydraulic integrated servo system plastic and metal forming machine tools
Line industry special SD500 spindle servo system CNC machine tool
Machine low voltage servo Siasun Robot&Automation Co.Ltd(300024) special series industry Siasun Robot&Automation Co.Ltd(300024) , cooperation Siasun Robot&Automation Co.Ltd(300024) , special Siasun Robot&Automation Co.Ltd(300024)
PLC VC5 / vc3 / vc1s PLC series CNC machine tools, food packaging, textile machinery and electronic equipment
Control system motion control V5 motion controller series packaging, electronic equipment, etc
System product controller
Line industry specialist
Textile machinery with vc600 loom intelligent electric control system
implement
（2） Main business model
1. Profit model
The company is mainly engaged in the R & D, procurement, production and sales of industrial automation control products such as frequency converter, servo system and control system, and provides industrial control products for manufacturing automation equipment manufacturers and their downstream manufacturing plants to realize revenue and profit. The overall business process of the company is shown in the figure below:
2. Procurement mode
The procurement department of the company consists of procurement execution department and supplier management department.
The purchase execution department is responsible for formulating the material demand plan and raw material purchase plan based on the sales forecast and customer orders.
The supplier management department is responsible for maintaining and improving the supply safety of the company’s existing suppliers. Each product line is equipped with a purchasing representative. The purchasing representative participates in the material selection and supplier selection of the project in the project planning stage. In the development stage, the purchasing representative shall organize the review of the purchasability of the selected materials, and complete the import of new materials and the certification of new suppliers before product release. The supplier management department shall regularly assess the performance of existing suppliers and output review reports for each node to eliminate unqualified suppliers.
3. Production mode
The company has a complete production and processing system and a production organization mode to meet business needs. The company adopts the production mode of combining stock production and order production, and the non core processing process of a small number of parts is assisted by outsourcing processing.
(1) Independent production and processing links
The hardware part of the company’s products is processed from many raw materials and parts, involving many different processes. After the purchase of raw materials, the main production processes of the company, including PCBA production, sheet metal production, whole machine assembly, software burning, aging test and other links, are produced and processed independently.
From the perspective of production organization mode, the company adopts stock production for frequently sold products with large sales volume to meet the demand of customers for a generally short supply period and maintain the reasonable inventory and turnover demand of frequently sold products. On the basis of reasonable consideration of the company’s production capacity, the material control department of the company prepares the production plan according to the effective orders provided by the Ministry of Commerce and the characteristics of the low and peak seasons of various product sales. In terms of production management, for the products of regular sales models, the company formulates the order arrangement plan in combination with the monthly average sales volume and inventory, so as to maintain the conformity of products with large sales volume
