Changshu Guorui Technology Co.Ltd(300600)
Summary of annual report 2021
1、 Important note: 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 carefully read the full text of the annual report in the media designated by the CSRC. The audit opinion of Dahua 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 changed from to Dahua accounting firm (special general partnership) this year. Tips on non-standard audit opinions □ applicable √ not applicable the company was not profitable at the time of listing and is not profitable at present □ applicable √ not applicable to the profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable
The company's profit distribution plan for common shares reviewed and approved by the board of directors is: take 294234480 as the base, distribute cash dividend of 0.00 yuan (including tax) to all shareholders for every 10 shares, send bonus shares of 0 shares (including tax), and transfer capital reserve to all shareholders for every 10 shares.
The company plans not to distribute cash dividends, bonus shares or increase share capital with provident fund. 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 Changshu Guorui Technology Co.Ltd(300600) stock code Changshu Guorui Technology Co.Ltd(300600)
Shenzhen Stock Exchange
Abbreviation of stock before change (if any) Ruite shares
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Wu Hongfa
Office address: No. 2, Qingdao Road, Changfu street, Changshu
Fax: 34528125286
Tel: 051252828917
E-mail zqb@cs -grkj. com.
2. Introduction to main business or products during the reporting period
The company is committed to creating the most competitive professional supplier of ship and ocean engineering electrical, automation system and related technical services in China. As a professional supplier of ship electrical and automation system, the company is a high-tech enterprise specializing in the R & D, production, sales and comprehensive technical services of ship and Ocean Engineering Electrical, automation system and system integration. The company's main products include: ship power distribution system and ship engine room automation system.
The downstream of the company is mainly the shipbuilding industry, so it is directly affected by the cyclical changes of the industry. Among them, the commercial transport ships in the civil ship manufacturing industry are directly affected by the development situation of world trade, the cyclical fluctuation of shipping market and the price of international bulk commodities, and the downstream supporting industries also show obvious cyclical characteristics; The official ships and marine ships in the civil ship manufacturing industry are mainly affected by the national marine strategy and have little correlation with the cyclical changes of the national economy; Military ships are closely related to the national defense policy and budget and the international ocean, and have little correlation with the cyclical changes of the national economy.
1. Basic information of shipbuilding industry during the reporting period
In 2021, the world economy recovered unevenly, the international shipping market showed a positive trend, and the global new shipbuilding market rebounded beyond expectations. China's three major shipbuilding indicators have achieved comprehensive growth, the international market share remains in the lead, the green transformation and development of ships have accelerated, and the toughness of the industrial chain and supply chain has been improved. According to the statistics of China Cssc Holdings Limited(600150) Industry Association, from January to November 2021, there were 1093 Shipbuilding Enterprises above Designated Size in China, with a main business income of 425.22 billion yuan, a year-on-year increase of 9.6%. Among them, ship supporting enterprises reached 73.75 billion yuan, a year-on-year increase of 5.2%. However, the external environment of the shipbuilding industry is becoming more complex, severe and uncertain. Under the pressure of repeated epidemics, international geographical conflicts and rapid rise of comprehensive costs, the shipbuilding industry still faces great challenges to maintain stable and healthy development.
Main features of economic operation of ship manufacturing and ship supporting industries during the reporting period:
(1) The ship market operates steadily and strives for progress
In 2021, China's three major shipbuilding indicators remained the world leader, and the growth rate of new orders was more than 20 percentage points higher than that of the world. The international competitiveness of backbone enterprises has been enhanced, and six enterprises have entered the top 10 in the world in terms of shipbuilding completion, new orders and hand-held orders. For the shipbuilding equipment industry, the overall downstream demand is stable and the overall market environment is good.
(2) Accelerated green transformation of ships
In 2021, in order to comply with the global trend of green and low-carbon transformation, Chinese shipbuilding enterprises accelerated the pace of scientific and technological innovation and launched a variety of green ship types that meet the requirements of the latest international maritime rules. Dynagreen Environmental Protection Group Co.Ltd(601330) ships accounted for 24.4% of the new orders received throughout the year. Shipping enterprises actively responded to the national call of "carbon peak and carbon neutralization", practiced the concept of green development, and the research and development of new ship types such as LNG carrier and ammonia fuel powered ship reached a new level. In 2021, China's offshore LNG industry chain genealogy restorer, China's first 174000 m3 floating liquefied natural gas storage and regasification unit (lng-fsru) and the world's largest 20000 m3 LNG transport tanker were successfully delivered, and the world's latest generation of "Changheng series" 174000 LNG carriers were certified by four international classification societies.
(3) The external environment is uncertain and the industry competition intensifies
In 2021, the price of international bulk commodities fluctuated sharply, driving the continuous rise of raw material prices, the general rise of main marine materials and key marine equipment, and the profit space of shipbuilding enterprises decreased significantly. In order to control costs, shipyards restricted the price of ship supporting equipment, the market competition became more intense, and many equipment manufacturers fell into the situation of low price competition. At the same time, the uncertainty of the impact of covid-19 pneumonia on the world economy still exists, the external environment is more complex and severe, and the production and operation of enterprises are still facing great challenges.
2. Industry status
At present, there are hundreds of companies engaged in the production and system design of ship electrical, automation systems and other related equipment in China, but the technical level of these companies is generally low, the scale is generally small, and the industry concentration is very low. The company is a professional supplier of ship electrical and automation systems recognized by a small number of Chinese enterprises with independent innovation ability and by large ship manufacturing enterprises, well-known ship design institutes, as well as government departments and institutions such as the State Oceanic Administration, the China Maritime Administration, the China Fisheries Administration, the waterway administration and the navy of the Chinese people's Liberation Army.
The company has a number of self-developed core technologies, among which the company has developed and produced "ship medium voltage distribution board", which has become one of the earliest enterprises in China to successfully develop this product. The marine circuit breaker products developed by the company can realize high-level substitution for similar foreign products. The overall strength of the company is in a leading position in the production field of ship electrical, automation system and other related ship supporting equipment, especially in the field of national defense and military. In addition, the company's products are highly competitive in both military and civilian markets, and the scale of military and civilian products is large. It has the characteristics of military and civilian industrial technology integration and complementary advantages.
In 2021, the company achieved an annual operating revenue of 220089700 yuan, a decrease of 164545 million yuan compared with 3846347 million yuan in 2020, including 402577 million yuan of private network communication business income in the previous year. Therefore, excluding the impact of private network communication business, the revenue of this year decreased by 1242873 million yuan, or 36.09%, compared with 2020. In 2021, the company realized a net profit of -268085200 yuan, of which 246460100 yuan of impairment loss was accrued for private network communication business, mainly due to:
(1) The pricing mechanism of main products has changed to some extent. The company's main customers include large shipyards, scientific research institutes and military enterprises. Affected by the nature of customers, the pricing of main products is mainly the unified management and national pricing of military prices by the state. According to the provisions of relevant procurement systems, procurement needs to adopt five methods: public bidding, invited bidding, competitive negotiation, single source and inquiry. At present, the project public bidding mode has been generally realized in the field of military products, which has a certain adverse impact on the company's business and product gross profit.
(2) Market competition intensified. Excluding the income from private network communication business, the overall gross profit margin of the company's products decreased from 31.64% in the same period of last year to 24.57% in the current period. Among them, some products of civil products suffered gross profit loss, and the business of ship engine room automation system was affected by industry adjustment in this period, and the revenue decreased significantly. In the field of military products, affected by the policy, there are more civilian supporting manufacturers in the field of ship supporting, and the market competition is more intense. In the field of civil products, although the whole ship market and marine industry market have recovered, the prices of bulk commodities such as raw materials have risen and fallen sharply since 2021, which has had a great impact on the cost control of the shipyard, and the profitability has decreased significantly. In order to control the cost, the shipyard has limited the price of supporting equipment, the market competition is becoming more intense, and many equipment manufacturers fall into the situation of low price competition. 2021 is a year for the company's transformation and upgrading, so the fierce market competition has an adverse impact on the company's business and product gross profit.
(3) Impact of thunderstorm on communication services. In 2021, the capital market stormy private network communication business, and the company's communication business accrued a bad debt of 246 million yuan. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years √ yes □ no
Unit: Yuan
In 2020, this year increased by 2019 over the previous year
Less in 2021
Before adjustment after adjustment after adjustment before adjustment after adjustment
Operating income (yuan) 220089747815702525228038463479420 - 42.78% 4861331359448613313594
Net profit attributable to shareholders of listed companies - 2680852558
Run (yuan) 668189243056818924305 - 493.15% 86169854498616985449
Deduction attributable to shareholders of listed companies - 2713367854
Net profit of non recurring profit and loss (yuan): 5484767409 - 594.71% 57781009135778100913 6
Net cash flow from operating activities - 1511445014 - 1511445014 (yuan) - 6015514623 - 3231971831 - 3231971831 - 86.13% 6
Basic earnings per share (yuan / share) -0.90 0.23 0.23 - 491.30% 0.28 0.28
Diluted earnings per share (yuan / share) -0.91 0.23 0.23 - 495.65% 0.28 0.28
Weighted average return on net assets - 26.38%, 5.81%, 5.81% - 32.19%, 7.60%, 7.60%
At the end of 2020, the end of this year is higher than that at the end of 2019 of last year
Increase or decrease at the end of 2021
Before adjustment after adjustment after adjustment before adjustment after adjustment
Total assets (yuan): 12794510591,817318,822. 1,817318,822. 2,041150,264. 2,041150,264.
