Company code: Bohai Automotive Systems Co.Ltd(600960) company abbreviation: Bohai Automotive Systems Co.Ltd(600960) Bohai Automotive Systems Co.Ltd(600960)
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 www.sse.com 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. Zhongxinghua 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 data of zhongxinghua Certified Public Accountants (special general partnership) (hereinafter referred to as “zhongxinghua”), the company realized a net profit of -9010706487 yuan attributable to the shareholders of the listed company in 2021, and the accumulated distributable profit at the end of the period was 34666813749 yuan. The company’s profit distribution plan for 2021 is: in view of the negative net profit attributable to the parent company in 2021, no profit distribution will be carried out in 2021 and no capital reserve will be converted into share capital. The 2021 profit distribution plan needs 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 Bohai Automotive Systems Co.Ltd(600960) Bohai Automotive Systems Co.Ltd(600960) Bohai piston, Binzhou piston
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Secretary of the board of directors and securities affairs representative
Office address: Yuan Chunhui, Gu Xinyan
Tel: No. 569, Bohai 21st Road, Binzhou City, Shandong Province
Email: 05438203962
2. Introduction to the company’s main business in the reporting period
In 2021, the situation outside China will be complex and changeable. Facing the adverse factors such as the shortage of chips and the continuous high price of raw materials, the automobile industry showed a steady growth trend in automobile production and sales throughout the year, and the penetration rate of new energy vehicles continued to increase, showing strong development toughness and driving force. According to the statistics of China Automobile Industry Association, China’s automobile production and sales were 26.082 million and 26.275 million, with a year-on-year increase of 3.4% and 3.8%, ending the decline for three consecutive years since 2018. Among them, new energy vehicles have become the biggest bright spot, with annual sales of more than 3.5 million vehicles, and the market share has increased to 13.4%, further indicating that the new energy vehicle market has shifted from policy driven to market driven.
In terms of policies, auto parts, as the basis for the development of the auto industry, are the key industries supported by the state for a long time. The Chinese government has issued a series of policies and measures to encourage the development of basic parts, promote the breakthrough of industrial chain weaknesses such as automotive electronics, lightweight new materials and high-end manufacturing equipment, cultivate internationally competitive parts suppliers, and form a complete industrial system from parts to complete vehicles. By 2025, several auto parts enterprise groups that have entered the top ten in the world will be formed. The strong support from the policy level has laid a solid foundation for the development of the parts industry.
From the perspective of the global automobile industry structure, the scale of China’s automobile industry and its future production and sales share in the world are expected to be further improved at the current level of 30%. Although the automobile consumer market turns cold, China’s innovation elements in the field of auto parts have formed a certain accumulation, the innovation environment is improving step by step, and the long-term momentum of the overall industry remains unchanged. At the same time, as an important part of China’s overall automobile competitiveness, There are still great development opportunities.
In 2022, there are still many uncertainties in the world economy. China will continue to do a solid job in the “six stabilities” and “six guarantees”, strive to stabilize the macro-economic market and keep the economy running within a reasonable range. In this context, the demand of the automobile market is expected to remain stable, and the automobile market is expected to continue to show a steady and good development trend in 2022.
(I) introduction to the company’s main business
The company is mainly engaged in the design, development, manufacturing and sales of pistons and components, lightweight auto parts, auto wheels, auto air conditioners, shock absorbers, exhaust systems, fuel tanks and other products, and has realized the industrial layout of lightweight parts, auto powertrain parts, chassis assembly parts and heat exchange system parts of new energy vehicles and traditional vehicles.
Piston Co., Ltd., a subsidiary of the company, is the largest piston manufacturer in China. For many years, it has maintained the first position in the production and sales of piston products in China. It is one of the few enterprises in China with mass production of European V and national VI piston products. As the presiding unit of the piston ring sub committee of China Gas Turbine Standardization Technical Committee, the company is responsible for the formulation and revision of national and industrial standards for piston products. In recent years, the company has presided over or participated in the formulation and revision of 9 national and industrial standards, including the formulation of the only product acceptance standard in China’s piston industry. The leading product of the company, the high-performance piston, whose diameter spans from 30 mm to 400 mm, with more than 1000 varieties and more than 1000 varieties. The leading product of the company’s leading product, the high-performance piston, the leading product of the company’s leading product, the high-performance piston, whose diameter spans from 30 mm to 400 mm. The diameter spans from 30 mm to 400 mm from 30 mm to 400 mm. The diameter spans from 30 mm to 400 mm to 400 mm. The diameter of the high-performance piston, the leading product of the company’s leading product, the high-performance piston, which spans from 30 mm to 400 mm to 400 mm, with more than 1000 varieties. It is widely used in a variety of dynamic mechanical fields such as automobiles, ships, engineering machinery, and so widely used in a variety of cars, ships, engineering machinery and engineering machinery and so on. It’s the leading mechanical fields of power machinery, such as Weichai Power Co.Ltd(000338) Weichai Power Co.Ltd(000338) Weichai Power Co.Ltd(000338) Weichai Power Co.Ltd(000338) Weichai Power Co.Ltd(000338) Weichai Power Co.Ltd(000338) Weichai Power Co.Ltd(000338) , such as , Byd Company Limited(002594) auto, brilliance auto Jiangling Motors Corporation Ltd(000550) , Geely Automobile and other well-known complete vehicles and engine plants; Established a nationwide social accessories dealer marketing network; For Cummins, Volkswagen, Daimler Benz, caterpillar, Chrysler, Ge, Navistar, DEUTZ, man, Kohler, John Deere, Kawasaki heavy industry, Yangma and other international companies.
BTAH, a subsidiary of the company, mainly produces aluminum alloy lightweight driving parts, engine parts, chassis and structural parts. It mainly supplies major main engine manufacturers and first-class suppliers in Europe. Its main customers include BMW, Volkswagen, Audi, Daimler, Bentley, Ford, Kia, Magna, etc.
Binzhou lightweight, a subsidiary of the company, is mainly engaged in the R & D, manufacturing and sales of aluminum alloy lightweight auto parts (engine parts, transmission parts, body structure parts, chassis parts, electric drive parts, etc.), which is the R & D and production base of lightweight auto parts. Binzhou lightweight and BTAH actively promoted strategic coordination, took the R & D capacity-building of aluminum alloy lightweight products as the core task, adjusted and transformed, focused on the medium and high-end market, promoted quality improvement, realized market development, won the fixed point of Beijing Benz project and further expanded the high-end market share.
Taian Qicheng, a subsidiary of the company, is mainly engaged in the production, design, R & D and sales of aluminum alloy wheels, and provides technical consultation and technical services for related products. It is one of the main export manufacturers of aluminum alloy wheels in China. The company’s products are mainly sold and exported in the foreign retail market, mainly exported to the international am market, and enjoy a high reputation in the international am market. In the international automotive aluminum wheel am segment market, the company is in the forefront of Chinese enterprises.
The company’s subsidiary Bohai precision machine has many years of experience in the design and production of special machine tools for auto parts and their automation equipment. Its main products include CNC lathes, machining centers, full-automatic casting machines, full-automatic detection machines, ultrasonic flaw detectors, Siasun Robot&Automation Co.Ltd(300024) automation integration, truss manipulator design and manufacturing, tooling, molds, station appliances and other products. Bohai precision machine’s piston automatic production line, special-purpose machine tools for special-shaped pin holes, special-purpose machine tools for special-shaped outer circles, full-automatic testing machines and other special-purpose machine tools are in a leading position in the industry in China. The main products have been exported to Russia, Brazil, Pakistan and other countries.
In addition, the company cooperates with international well-known auto parts manufacturers such as han’ang, bio yingruijie and Tenneco to engage in the production and sales of auto parts such as auto air conditioner, plastic fuel tank, shock absorber and exhaust system.
(II) business model of the company
The company insists on taking customers as the core and carries out development, design, marketing and service around customers’ needs. By adopting the production mode of setting production by sales, ordering by production, order pulling and management linkage, the rapid response management and analysis of the whole value chain (CRM (customer resources management) → ERP (Enterprise Resources Planning) → CRM) from customer demand identification to delivery and after-sales service are realized, which ensures that the company meets the requirements of market changes.
1. Procurement mode
The raw materials purchased by the company mainly include aluminum ingot, liquid aluminum, magnesium, nickel, silicon, copper, etc. It mainly adopts the mode of ordering by production, and purchases from suppliers in batches or at one time in the form of centralized procurement.
(1) Procurement flow chart:
(2) Introduction to procurement process:
Main contents of the process
Submit the purchase demand. The production department puts forward the purchase demand to the purchase department according to the production plan, listing the purchase type, quantity, specification and other information.
Select suppliers. The purchasing department shall select suppliers with supply capacity according to the purchasing demand and comprehensively consider the supplier’s strength, credit and other factors, make inquiry and formulate procurement plan;
The examination and approval shall be carried out by the relevant responsible departments according to the authorization of the company’s management.
Identify the purchase contract, sign the purchase contract with the supplier, and confirm the commodity price, quantity, delivery time and place.
The acceptance and warehousing quality department is responsible for inspecting the quality of purchased goods and summarizing the inspection results. After the purchased goods pass the inspection, the warehouse management department shall count and warehousing them.
2. Production mode
The company mainly adopts the production mode of setting production by sales. According to the customer’s order demand and combined with the product inventory, the company formulates the production plan and sends it to each production unit.
(1) Production flow chart
(2) Introduction to production process
Main contents of the process
Formulate the production plan. The company formulates the annual production plan according to the customer’s annual purchase forecast, and formulates the rolling monthly plan, weekly plan and daily plan according to the actual orders received every month.
Organize the production department to arrange production after receiving the production plan, and control the production process through production process control, quality inspection, product warehousing and other links to ensure product quality.
The finished products are mainly delivered to customers by instant delivery.
3. Sales model
The company mainly adopts the direct selling mode to provide supporting products to the main engine factory and vehicle factory. After obtaining the supporting projects of relevant models through bidding, and after the approval of technical design, mold development, product trial production and customer sample approval, the company establishes a long-term cooperative relationship with customers and officially enters the stage of batch supply.
(1) Sales flow chart
(2) Introduction to sales process
Main contents of the process
The company mainly accepts customer orders by participating in bidding. Before participating in the bidding, the company will analyze the rationality of the quotation and participate in the bidding, and evaluate its own R & D capacity and production capacity to ensure timely and quality delivery;
Sign sales contracts, sign sales contracts with customers, and determine the sales product model, price, delivery time, settlement method, etc
After the products are delivered and produced, the company will organize the delivery according to the contract.
3 main accounting data and financial indicators of the company 3.1 main accounting data and financial indicators in recent three years
Unit: RMB currency: RMB
20212020 compared with 2019 of the previous year
Increase or decrease (%)
Total assets 824626778304919850043446 -10.35889361907364
Attributable to listed companies 5031073
