Securities code: Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) securities abbreviation: Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) Announcement No.: 2022019 convertible bond Code: 123084 convertible bond abbreviation: Gaolan convertible bond
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) 2021 annual report summary I. important tips: the summary of this annual report is 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 attended the meeting of the board of directors to review the annual report in person. The audit opinion of Lixin Certified Public Accountants (special general partnership) on the company's financial report this year is: standard unqualified opinion. Changes of accounting firm during the reporting period: the accounting firm of the company was changed from Lixin Accounting firm (special general partnership) this year. Tips of non-standard audit opinions □ applicable √ not applicable the company was not profitable when it was listed and is not profitable at present □ applicable √ not applicable to the profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period reviewed by the board of directors √ applicable □ not applicable the profit distribution plan of ordinary shares reviewed and approved by the board of directors is: Based on 277442837, distribute cash dividend of RMB 0.00 (including tax) to all shareholders for every 10 shares, 0 bonus shares (including tax) will be given, and 0 shares will be added to all shareholders for every 10 shares with capital reserve.
Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) stock code Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Liang Qingli, Shi Longjing
Office address: Science City, high tech Industrial Development Zone, Guangzhou, No. 3, Nanyun fifth road, Science City, high tech Industrial Development Zone, Guangzhou
Fax 0206661624702066616247
Tel: 0206661624802066616248
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(I) main business, main products and uses of the company
Since its establishment, the company has been committed to the R & D, design, production and sales of pure water cooling equipment and control system for power electronic devices. After years of development, the company has gradually become an overall solution provider for thermal management in power electronic industry. The application fields of products are from traditional DC transmission, new energy power generation, flexible AC transmission and distribution and high-power electrical transmission to petroleum and petrochemical, rail transit, military ships, medical equipment, data center Energy storage power stations are expanding. According to the power electronic devices applied in different industries and fields, the main products developed and sold by the company include DC transmission converter valve pure water cooling equipment and accessories (DC water-cooled products), new energy power generation converter pure water cooling equipment and accessories (new energy power generation water-cooled products), flexible AC transmission and distribution thyristor valve pure water cooling equipment and accessories (flexible AC water-cooled products) High power electric drive frequency converter, pure water cooling equipment and accessories (electric drive water-cooling products) and control systems of various water-cooling equipment. Pure water cooling equipment is a key supporting equipment widely used in high-power power electronic devices. Its working principle is to use pure water with high insulation and high specific heat capacity as the main cooling medium and pressurize it through the circulating pump to make the cooling water flow through the water-cooled radiator connected to the power electronic devices in the high-power power electronic devices along the main circuit. Heat exchange is carried out with the power module in the inner cavity of the water-cooled radiator to take away the heat to form a closed The circulating forced cooling system has the characteristics of high heat exchange efficiency, almost no consumption of circulating water, safety and reliability, economy and environmental protection. Using pure water cooling equipment can greatly improve the working efficiency and reliability of power electronic devices, prolong their service life, effectively reduce the energy loss in the process of power conversion and transmission, and provide guarantee for the safe and economic operation of the equipment.
The company acquired 51% equity of Dongguan Sixiang insulation material Co., Ltd. in 2019, and its main business is to increase the thermal management of new energy vehicle power battery and automotive electronics manufacturing business. Dongguan Sixiang is a high-tech enterprise specializing in the R & D, production and sales of new energy vehicle power battery heating, heat insulation, heat dissipation and automotive electronics manufacturing. Its main products include power battery thermal management products (heating film, heat insulation cotton, cushion) and automotive electronics products (flexible circuit board FPC, integrated bus CCS). As an important product ring in the battery thermal management system, heating film, thermal insulation cotton and cushion are not only tools to prolong the service life of new energy vehicle power battery, but also to prevent heat spread and heat out of control, protect the safety of drivers and passengers in critical times and strive for valuable escape time. FPC and CCS are applied to the battery module of new energy vehicles to monitor the temperature, voltage and current status in real time, so as to realize signal acquisition, cell protection and power transmission between batteries.
Gaolan innovation technology, the holding subsidiary of the company, focuses on the field of new energy vehicle thermal management and information and communication (ICT) thermal management. The thermal management products of new energy vehicles mainly include liquid cooling sector and battery pack thermal management unit (integrated system of water pump, compressor, condenser, evaporator, expansion valve, etc.); Information and communication (ICT) thermal management products are mainly cold sector liquid cooling server thermal management solutions, immersion liquid cooling server thermal management solutions and container liquid cooling data center solutions, covering the system integration from liquid cooling sector, CDU of various models and heat exchange forms, multi power tank, multi size container and other components to data center design, equipment integration, system commissioning and equipment operation and maintenance.
In addition, the company has continued to invest in research and development in the thermal management technology of energy storage batteries. At present, the company has technical reserves and solutions based on lithium battery single cabinet energy storage liquid cooling products, large energy storage power station liquid cooling system, prefabricated cabin energy storage liquid cooling products, etc.
With the mission of "focusing on the technological innovation and industrialization of the whole scene thermal management", the company will focus on power electronic thermal management, new energy vehicle thermal management, information and communication thermal management, special industry thermal management and comprehensive energy efficiency management for renewable energy power generation, DC transmission, flexible DC transmission, flexible AC power transmission and transformation, new energy vehicles, information and communication, edge computing, rail transit, oil and gas transmission, iron and steel chemical industry Medical treatment, ships and other application scenarios.
(II) business model
1. Profit model
The company is an advanced manufacturing enterprise and adopts the profit model of general manufacturing industry. Through personalized design, customized manufacturing mode and long-term brand accumulation, we can obtain profits not lower than the average level of the industry. At the same time, in the process of industrialization and large-scale application, it provides overall solutions for customers in various application fields, and realizes large-scale reasonable profits in the process of expanding market share. In short, the company's profit model is to sell products or services designed and manufactured to customers in specific application fields to meet customer needs and make profits.
2. Procurement mode
The company adopts the purchase mode of "order by sales" and "maintain a certain inventory". Customize the purchase order according to the actual demand of the customer; For finalized products and standardized products, purchase according to actual orders and market demand forecast, and maintain a certain inventory. For general raw materials, due to many types involved, a certain inventory will generally be maintained.
The supply chain management department of the company is responsible for information collection, market research and procurement activities, and organizes the external procurement of equipment and components required by the system and raw materials required for production. The main materials are divided into purchased raw materials, purchased standard parts and outsourced processing parts. Purchased raw materials and purchased standard parts refer to standard parts used for equipment integration and raw materials used for independent production and manufacturing. Outsourced parts refer to the parts customized by the supplier for the company according to the drawings, technical parameters and other requirements provided by the company. Purchased raw materials mainly include rubber hoses, pipes, pipes, steel sectors, valves, etc; The purchased standard parts mainly include water pump, motor, electronic component module, etc; Outsourced processing parts mainly include air cooler, radiator core, radiator air chamber, fan blade, air radiator, etc. The procurement of the company follows the principle of "selecting the best from the best", establishes the archives of qualified suppliers, evaluates the suppliers in combination with product quality and historical credit, and updates the supplier archives in time according to the evaluation. According to the characteristics of products, the company's procurement methods include batch procurement, quantitative procurement (including purchased standard parts and outsourced processing parts), temporary procurement and bidding procurement. At present, the company has formed a relatively stable supply channel of raw materials and established long-term good cooperative relations with major suppliers.
3. Production mode
The production mode of the company is divided into customized production and standardized production of finalized products. The company mainly focuses on the customized production mode. On the basis of customized design and manufacturing, in order to meet the batch demand of the same customer for a certain type of water-cooling equipment, the company carries out standardized production after the finalization of customized products.
(1) Customized production mode
The company adopts customized production mode for DC water cooling, flexible AC water cooling, new energy power generation water cooling and electric drive water cooling products. The company has formulated a strict control system for the production process in combination with technical management tools and management system. Customized product production mainly includes material preparation, production and manufacturing, product commissioning, inspection, warehousing and shipment. For the new energy power generation water-cooled products and electric drive water-cooled products customized by the same customer, when receiving the demand of batch orders, the trial production center will organize the prototype of customized products to be transferred to small batch trial production, and complete the process standardization of the technical data of customized products. After small batch trial production and verification, it shall be submitted to the production department for mass production.
(2) Standardized production mode of finalized products
According to the demand sources of sales orders and forecast orders, PMC prepares production plans and issues production orders and material demand instructions. The production department issues specific production instructions to the production team according to the production plan requirements according to the production factors such as standard process drawings and complete sets of materials, organizes production and completes packaging and warehousing. Implement process inspection in key production processes and final delivery inspection before packaging and warehousing after production. In order to ensure the order of production and respond to the fluctuation of demand, a certain amount of standard product inventory shall be properly established. The company's standard batch products are mainly new energy power generation water-cooling products and electrical transmission water-cooling products.
4. Sales model
The company adopts the way of long-term technical cooperation + brand demonstration to develop customers. The main ways for the company to obtain orders are: (1) sign the framework agreement after bidding with customers with high viscosity to obtain continuous orders under the framework agreement; (2) Bid for orders from end users (owners); (3) Bid with the system integrator to obtain orders; (4) Overseas customers generally obtain orders by entering the list of qualified suppliers.
The company adopts the direct selling mode of "long-term technical cooperation + brand demonstration", which is mainly because the company's main products are the key equipment of the power system and have high requirements for technical level. Generally, the engineering application verification cycle of the products needs at least 1-2 years. The customers are large state-owned enterprises and listed companies in the power industry. New enterprises need a long time and performance accumulation before they can be recognized by users. Therefore, the business performance and brand effect of enterprises are particularly important in the industry. Only through the mode of "long-term technical cooperation + brand demonstration" can we enhance the stickiness with customers and ensure the sustainable and rapid development of the company.
In 2019, the company acquired 51% equity of Dongguan Sixiang insulation material Co., Ltd. to increase the thermal management of new energy vehicle power battery and automotive electronics manufacturing business. The business model of Dongguan Sixiang is mainly reflected in the following aspects:
In terms of profit model, Dongguan Sixiang belongs to manufacturing enterprises and adopts the profit model of general manufacturing industry. Through personalized design, customized manufacturing mode and long-term brand accumulation, we can obtain profits not lower than the average level of the industry.
In terms of procurement mode, Dongguan Sixiang mainly carries out procurement planning according to orders, and general raw materials will maintain an appropriate inventory.
In terms of production mode, Dongguan Sixiang mainly produces customized supporting products according to different models and different structures of power batteries.
In terms of sales mode, Dongguan Sixiang mainly obtains orders by obtaining the qualification certification of qualified suppliers from downstream power battery manufacturers and vehicle manufacturers, entering the directory of qualified suppliers of downstream customers to meet product quality, stability, delivery date and after-sales service, and then bidding with downstream customers to obtain fixed-point orders.
(III) main performance drivers
During the reporting period, the company achieved an operating income of 1679257600 yuan, an increase of 36.72% over the previous year; The net profit attributable to the parent company was 645481 million yuan, a year-on-year decrease of 20.29%. The main reasons are as follows:
1. During the reporting period, the orders and operating revenue of new energy vehicle power battery thermal management products and automotive electronics manufacturing products of Dongguan Sixiang, a holding subsidiary, increased significantly, which had a positive impact on the operating revenue of the company and the net profit attributable to the parent company;
2. During the reporting period, the impact of non recurring profits and losses on the company's net profit was about 119076 million yuan;
3. During the reporting period, the amortization and accrued interest of the company's convertible bond interest adjustment items totaled about 169777 million yuan;
4. During the reporting period, the company's credit impairment loss increased by about 5.6231 million yuan compared with the same period last year, mainly due to the increase of accounts receivable;
5. During the reporting period, the company increased investment in R & D of new products, and the R & D expenses increased by about 223272 million yuan compared with the same period last year..
(IV) development and market position of the company's industry during the reporting period
1. Industry development
The main products of the company's water-cooling business are the key supporting equipment of power devices such as DC transmission converter valve and new energy power generation converter. The main products of new energy vehicle power battery thermal management and automotive electronics manufacturing business are the components of new energy vehicle battery system. The main business development is DC transmission, wind power generation, photovoltaic power generation and new energy steam
