Jiangsu Changshu Automotive Trim Group Co.Ltd(603035)
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. Lixin 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 deliberation and approval of the sixth meeting of the Fourth Board of directors held on April 18, 2022, the profit distribution plan of the company in 2021 is to distribute cash of RMB 3.496 (including tax) to all shareholders for every 10 shares based on the total share capital on the date of equity registration of profit distribution. As of December 31, 2021, the total share capital of the company is 360749112 shares. Based on this calculation, the total cash dividend payable is 12611788956 yuan (including tax), and the remaining undistributed profits are carried forward and retained. Capital reserve will not be converted into share capital this time. The company's cash dividends accounted for 30.00% of the net profit attributable to the common shareholders of the listed company in the consolidated statements.
The above profit distribution plan shall be implemented after being deliberated and approved by the 2021 annual general meeting of shareholders. If the total share capital of the company changes due to the conversion of convertible corporate bonds from the date of disclosure of the profit distribution plan to the date of equity registration of profit distribution, it is proposed to maintain the distribution proportion of cash distribution per share unchanged and adjust the total amount of cash distribution accordingly.
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 Jiangsu Changshu Automotive Trim Group Co.Ltd(603035) Jiangsu Changshu Automotive Trim Group Co.Ltd(603035)
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Luo Xifang Cao Sheng
Office address: No. 288, Haiyu North Road, Changshu, Jiangsu Province
Tel: 051252330018
E-mail [email protected]. [email protected].
2. Introduction to the company's main business in the reporting period
(I) industry of the company
The industry of the company is automobile trim industry. According to the industrial classification of national economy (GB / t47542011), the automotive interior decoration industry is located in the sub industry position of "c3725 auto parts and accessories manufacturing". According to the industry classification guidelines for listed companies (revised in 2012) issued by the CSRC, the company belongs to the auto parts and accessories manufacturing industry under the "C36 auto manufacturing industry", which is specifically subdivided into the auto accessories industry.
(II) industry situation during the reporting period
According to the latest data released by China Automobile Industry Association (hereinafter referred to as China Automobile Association), in 2021, China's automobile sales volume was 26.275 million, a year-on-year increase of 3.8%, ending the downward trend for three consecutive years since 2018. While China's auto market has regained positive growth, China's auto consumption market has also shown new highlights.
1. The trend of consumption upgrading is obvious
At present, the development of China's new car market is becoming more and more mature, and people's automobile consumption concept and awareness have been significantly improved, which has created favorable conditions for the growth of luxury brand market representing higher vehicle quality. According to the data, in 2021, the sales of luxury brand passenger cars were 3.472 million, with a year-on-year increase of 20.7%, 14.2 percentage points higher than the growth rate of passenger cars, accounting for 16.2% of the total sales of passenger cars, breaking a new record.
2. New energy vehicles contain great opportunities
Nowadays, the development of China's automobile market has been closely linked with new energy vehicles. Under the trend that automobile enterprises collectively embrace electrification, the industry has greater expectations for the development of new energy vehicle market. China Automobile Association said that based on the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles exceeding 3.5 million in 2021, the new energy vehicle market will move towards the target of 5 million in 2022.
(III) main business of the company
The company's main business is engaged in R & D, production and sales of automotive interior parts assembly products. As one of the main suppliers in China's automotive interior parts industry, the company can provide customers with integrated services from project engineering development and design, to mold inspection tool design and manufacturing, equipment automation solutions, product test and verification and cost optimization solutions. The company's main products include door inner guard sector assembly, instrument panel assembly, auxiliary instrument panel assembly, column assembly, trunk assembly, coat rack assembly, plastic tailgate, carpet and mold inspection tools, equipment automation design and manufacturing, etc. its main customers include FAW Volkswagen, Beijing Benz, brilliance BMW, Chery Jaguar Land Rover, SAIC GM, Chery Automobile, FAW red flag, Great Wall Motor Company Limited(601633) beijing cross country, Geely Automobile and other well-known vehicle manufacturers. In the fast-growing field of new energy vehicles, the company has also cut into Mercedes Benz EQB, BMW EV, Volkswagen MEB, Tesla, ideal, Xiaopeng, Weilai, Nezha, Zero run, arcfox, Chinese express, Chery new energy, Jaguar Land Rover in the UK, zoox in North America, etc.
The company has eleven production bases: Changshu, Changchun, Shenyang, Beijing, Wuhu, Chengdu, Foshan, Tianjin, Yuyao, Shangrao and Yibin. The company's core products "CAIP car door inner guard sector" and "CAIP car skylight sector" have won the title of famous brand products in Jiangsu Province. The company has been successively awarded: Jiangsu Key Cultivation and development enterprise, Jiangsu automobile trim Engineering Technology Research Center, Jiangsu Science and technology small and medium-sized enterprise, National contract abiding and trustworthy enterprise, National Torch Plan key high-tech enterprise, national green factory, standard implementation unit of two integration management system Jiangsu intelligent demonstration workshop and other honors.
(IV) business model of the company
The company's business model includes five links: R & D, procurement, production, sales and after-sales service.
1. Research and development mode
The company has compound talents of global collaborative design + mold + automation, and has established an excellent technical team with international vision. With the independent R & D mode integrating modeling, engineering design, project development, test, mold inspection tool and automation development, the company has the ability to develop intelligent interior cockpit with intelligence, electronization, module integration, environmental protection, green, lightweight and carbon neutralization for the future, Provide global design and development services for vehicle manufacturers, and take continuous development and innovation to provide vehicle manufacturers with higher quality and more competitive products and services.
In order to meet these requirements, the company's R & D mode adopts synchronous development. This requires parallel and integrated development from conceptual design to part delivery, ensuring the use of the most streamlined and environmentally friendly options, while ensuring shorter tool development and ultimately improved part quality. Design is provided to combine automation and build efficiency and is also generally considered at an early stage. The company designs, tests and verifies in strict accordance with international standards, and customizes international standards according to OEM requirements. The company has the ability of 2D and 3D product analysis and design, and uses CATIA, UG and other 3D design software for structural design and GD & T engineering drawing; According to the standard requirements of customers for product performance, parametric design is carried out, and the software is used for DMU space simulation calibration. At the same time, in the design process, CAE simulation is used to analyze the structure, mode, durability and collision performance of the digital model of the product. The vision is that CAE signatures can eventually replace many physical tests. Moldflow analysis and calculation are used early in the DFM design process to ensure that the product meets the dimensional performance and manufacturing process, shorten the tool design time and reduce the adjustment cycle.
Under the synchronous development mode, the company strictly follows the plan and cooperates with the vehicle development progress to launch the corresponding design and products at the first time. In response to the further design requirements of customers, the company can design interior system products based on the optimized combination of different materials and the efficient and economic production process of the whole vehicle according to the market positioning and cost control requirements of vehicle models in the Chinese market. In the synchronous development stage, achieve the best cost performance, save costs for OEM and improve production efficiency.
With the completion of the company's Tianjin Weichun Technology National R & D and testing center, the accession of Germany way and the development of school enterprise cooperation of Beihang, the company will closely follow the development trend of automobile interior, timely understand the design needs of vehicle interior in China and foreign markets, and rely on the complementary advantages of resources and technology of all teams to create high-quality interior parts system and improve the company's core competitiveness.
2. Procurement mode
The procurement of raw materials and spare parts required for the production of the company and its subsidiaries shall be uniformly managed by the procurement department. At present, the company has established a perfect raw and auxiliary material procurement system, including the selection of qualified suppliers, daily procurement control and supplier supervision and assessment. The procurement department formulates the procurement plan according to the monthly production plan of the production department for specific implementation.
The company's procurement mode can be divided into designated procurement and self procurement: part of the company's raw materials are purchased from suppliers designated by downstream customers. For some materials, it is inclined to choose raw material suppliers of foreign shareholders for cooperation. Under the self procurement mode, the procurement department looks for potential suppliers according to customer needs, product planning, technical standards and other objectives. The procurement department, quality assurance department and technology center jointly evaluate potential suppliers and comprehensively investigate their R & D and design ability, product quality and cost performance. After passing the evaluation, the supplier will enter the list of qualified suppliers of the company.
3. Production mode
The company implements the "eight modernizations" oriented management strategy, and continues to consolidate measures such as refinement of financial accounting, institutionalization of human resources, digitization of production logistics, diversification of business information, quality standardization, procurement cost, equipment automation and project integration, so as to improve the company's excellence in all links from human and property to procurement, production, sales and after-sales service.
The company organizes production according to the mode of "production based on sales", that is, according to the requirements of customer orders, the production plan is formulated according to the product specification, quantity and supply time, and the workshop organizes production. The company will also maintain a certain safety stock of finished products according to the maximum daily output, temporary needs of customers, transportation risks and other factors, so as to ensure the continuity of supply and deal with emergencies. The customer picks up the goods according to the order plan published in the management platform system, or the company delivers the corresponding products to the customer on time.
The quality management department has established a strict quality management system, which is responsible for product inspection, status identification and traceability control to prevent the outflow of defective products. The equipment management department is responsible for the operation management and maintenance of equipment, and achieve safe production and lean production by ensuring the protective measures of equipment and tooling. The company uses the "eight modernizations" management system to seamlessly connect the workflow of each link, and effectively control the quality cost, procurement cost, dead goods, etc.
4. Sales model
The company's sales is mainly coordinated by the north and South departments + Germany North America + headquarters, and the four sectors coordinate and manage the efficient mode of each production base. The two-way linkage service mechanism for the regional sector of the main engine factory and the company headquarters realizes the rapid communication and timely response of sales services. The customer department of the company is responsible for market development, mainly completing the quotation and acquisition of new projects, new market development, internal and external project coordination, communication and confirmation of business matters with customers, etc.
The interior decoration products produced by the company are matched by the vehicle factory or supplied to primary suppliers, and the product sales adopt the direct sales mode. In the new model development stage, the vehicle factory will release inquiry information to potential suppliers in its supplier list. Through multiple rounds of technical exchange and price negotiation, and finally select relatively advantageous suppliers to provide products and services based on the comprehensive consideration of price, development capacity and other factors. In order to shorten the product delivery cycle, speed up customer response and reduce logistics costs, the company implemented close service and completed the layout planning in the main vehicle production areas in the country.
5. After sales service
In the after-sales service link, the company determines the product after-sales service standards in accordance with the relevant national and industrial regulations. The company has a special after-sales service department and after-sales service personnel. At the same time, it is equipped with online service personnel to provide 24-hour online after-sales service, timely respond to customers' needs and solve product after-sales problems.
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 751538926992715244343364 5.07707847839955
Net assets attributable to shareholders of listed companies 410124528251365146975088 12.32289315581314
Operating income 266271919832221789008417
