Securities code: Suzhou Chunxing Precision Mechanical Co.Ltd(002547) securities abbreviation: Suzhou Chunxing Precision Mechanical Co.Ltd(002547) Announcement No.: 2022019 Suzhou Chunxing Precision Mechanical Co.Ltd(002547) 2021 annual report summary
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. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
Tips on non-standard audit opinions √ applicable □ not applicable Suya Jincheng Certified Public Accountants (special general partnership) has issued an unqualified audit report with emphasized items for the company. The board of directors and the board of supervisors of the company have detailed explanations on relevant matters, which should be read by investors. The profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period reviewed by the board of directors □ applicable √ not applicable. The company plans not to distribute cash dividends, bonus shares or convert accumulation fund into share capital. 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 Suzhou Chunxing Precision Mechanical Co.Ltd(002547) stock code Suzhou Chunxing Precision Mechanical Co.Ltd(002547)
Shenzhen Stock Exchange
The stock abbreviation (if any) before the change is not applicable
Contact person and contact information: Secretary of the board of directors
Name: Wang suting
Office address: No. 120, Jinling East Road, Weiting Town, Suzhou Industrial Park, Jiangsu Province
Fax: 051262625328
Tel: 051262625328
Email: suting wang@chunxing -group. com.
2. Introduction to main business or products during the reporting period
During the reporting period, the company mainly engaged in the following business segments: 1. R & D, production and sales of RF devices and precision light metal structural parts in the field of mobile communication and other related businesses; 2. R & D, production and sales of precision aluminum alloy structural parts and sheet metal parts in the field of auto parts; 3. R & D, production and sales of glass cover sectors in the field of consumer electronics.
1. Mobile communication field
In order to fully promote 5g network construction, application promotion, technology development and security, give full play to the scale effect and driving role of 5g new infrastructure and support high-quality economic development, in March 2020, the Ministry of industry and information technology issued the notice of the Ministry of industry and information technology on promoting 5g to accelerate Development (MIIT Communication [2020] No. 49). According to statistics, in 2021, China opened 654000 new 5g base stations, and a total of 14250005g base stations were completed and opened. According to the calculation of China information and Communication Research Institute, it is estimated that 6 million 5g base stations will be built in the world from 2020 to 2025, which will drive the growth of China’s digital economy by 15.2 trillion yuan. With the gradual advancement of 5g network infrastructure, various 5g technology application scenarios continue to emerge. On July 5, 2021, the Ministry of industry and information technology and other ten departments issued the 5g application “sailing” action plan (20212023) (Ministry of industry and information technology Unicom letter [2021] No. 77) to comprehensively promote 5g integrated applications. Taking “5g + industrial Internet” as an example, 5g applications have been gradually expanded to many fields such as industry, culture and tourism, energy, transportation and so on, and nearly 50% of 5g applications have achieved commercial implementation. In accordance with the requirements of the outline of the 14th five year plan, “accelerate the large-scale deployment of 5g network, increase the user penetration rate to 56%, and promote the upgrading of gigabit optical fiber network”. 5g is still in the stage of rapid development in 2021. 5g improves the data transmission speed by broadening the bandwidth and increasing the number of channels, while the new frequency band requires supporting RF front-end devices. Filter is one of the core components of RF front-end. Filter accounts for 47% of the total RF front-end market. According to yole’s prediction, the RF front-end market space is expected to reach US $27.3 billion in 2024.
The company’s mobile communication business includes communication RF devices and their precision light metal structures; System temsector cooling component business. Focusing on RF technology, the company provides customers with a full range of RF devices, structural parts and solutions related to wireless RF base stations, such as antennas, filters, duplexers, tower amplifiers, combiners, microwave transmission and so on. The company has been deeply engaged in the field of mobile communication for many years. At present, it has formed a solid cooperative relationship with world-famous communication equipment and system integrators Ericsson, Nokia and Samsung, and continues to improve the market share in the core customer system. As a strategic supplier of Ericsson, Nokia and Samsung related businesses, the company actively participates in the research and development of customers’ 5g new products and steadily develops a number of new projects; The products of communication structural parts are also expanded from die-casting machine to heat dissipation module. The module heat dissipation module can quickly take away the chip heat and heat dissipation, especially for 5g chips and high-power chips. At present, the company has delivered the heat dissipation module to its core customer Nokia and produced it in batch. The system temsector heat dissipation component business is mainly developed and produced to adapt to 5g technology, and can fully grasp the development dividend of 5g industry.
2. Auto parts field
In 2021, under the influence of industry adverse factors such as the shortage of chips, the sharp rise in the price of raw materials and the continuous impact of the epidemic, the development of the automobile market was generally stable during the reporting period, and the production and sales of automobiles increased. According to the statistics of China Automobile Industry Association, in 2021, China’s automobile production and sales completed 26.082 million and 26.275 million respectively, with a year-on-year increase of 3.4% and 3.8%. However, the global epidemic has been repeated for many rounds, the sharp rise in raw material prices and the shortage of automotive chips still have a prominent impact on automobile production capacity. on the other hand, It is pointed out in the 14th five year plan for national economic and social development of the people’s Republic of China and the outline of long-term objectives for 2035 “Consolidate and enhance the competitiveness of the whole industrial chain in new energy and other fields, and build a strategic overall industrial chain starting with complete machine products in line with the direction of future industrial reform. Focus on new energy, new energy vehicles and other strategic emerging industries, accelerate the innovation and application of key core technologies, enhance the ability to guarantee factors, and cultivate and expand new drivers of industrial development.” In order to achieve the goals of “carbon peak” and “carbon neutralization” as soon as possible, under the guidance of relevant national policies, the new energy vehicle market will achieve rapid growth in 2021.
According to the statistics of China Automobile Industry Association, in 2021, the production and sales of new energy vehicles completed 3.545 million and 3.521 million respectively, with a year-on-year increase of 159.5% and 157.5%. The data show that the new energy vehicle market has changed from policy driven to market demand driven. The rapid growth of sales of new energy vehicles will also significantly increase the demand for aluminum alloy structural parts for motor cars.
The company mainly produces precision light metal structural parts of traditional fuel vehicles and precision aluminum alloy structural parts and sheet metal parts of “three electricity system” of new energy vehicles. Its main customers include Tesla, mahleber Er, mainland, Qunzhi, Warner Shenglong, etc. the company has established stable cooperative relations with Tesla, mainland, mahleber and other new energy vehicle manufacturers for many years. In 2021, facing the rapid growth of new energy vehicle sales outside China, the company plans to develop a number of new energy vehicle projects to further increase the product share of the company’s new energy vehicle business. At the same time, in order to undertake more orders, the company plans to further expand its product line, and has begun to layout the shell structure products of inverters and motors and add supporting capacity, so as to fully grasp the development dividend of new energy and new energy automobile industry. With the technological progress of the new energy vehicle industry chain, cost reduction and the demonstration effect brought by Tesla‘s localization, the new energy vehicle industry will continue to maintain the growth trend, and the company’s automobile structural parts business is expected to obtain the driving force of sustained growth.
3. Consumer electronics
The company’s consumer electronic glass business is mainly operated through Shenzhen kaimao, a holding subsidiary. Shenzhen kaimao focuses on the production and processing of front and rear cover sectors of 2D / 2.5d/3d glass, the R & D and production of curved glass and ultra-thin glass and the R & D and production of folding screen glass. The product application markets include: mobile phone market, large-scale consumer electronics market of flat panel and notebook, automobile touch display market, industrial touch, education, game console, wafer glass substrate and other product markets. With the rapid development of artificial intelligence, big data and other new technologies, the application field of touch display products continues to expand, and the industrial scale continues to expand. The penetration of touch screen in notebook computers will increase steadily. More and more smart homes and smart cars use touch screen to realize human-computer interaction.
During the reporting period, Shenzhen kaimao actively developed the application of touch glass in smart cars, smart wear, smart homes and multi-modal display screens, and further increased the market share of core customers by developing large-size, curved surface size glass products and ultra-thin products; In addition, kaimao is also deeply engaged in the development and application of new technologies and products. In particular, the ultra-thin glass process successfully developed by kaimao and cooperative customers has the largest application space in the future flexible market. The folding screen mobile phone is not only a new look of the display form, but also a new display of the combination of smart phone and 5g communication. At present, Shenzhen kaimao is one of the few manufacturers in China that can mass produce folding screen glass, and its process maturity and production capacity are in a leading position. 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
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 620458069474610935039701 1.56% 805420804126
Net assets attributable to shareholders of listed companies 62855310 Guilin Fuda Co.Ltd(603166) 268712314 – 62.20% 2744030508237
20212020 year-on-year increase or decrease 2019
Operating income 267329525066515325276191 – 48.12% 726165339790
Net profit attributable to shareholders of listed company -103254599351 -105835694749 2.44% 2213371204
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of -80818208754 -112562969385 28.20% – 2731430041
Net cash flow from operating activities 1721112941629119795104 – 40.90% 55278004176
Basic earnings per share (yuan / share) -0.9153 -0.9382 2.44% 0.0200
Diluted earnings per share (yuan / share) -0.9153 -0.9382 2.44% 0.0200
Weighted average return on net assets – 90.13% – 49.60% – 40.53% 1.48%
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
Operating income 62059150850731652011517314850001758956673048
Net profit attributable to shareholders of listed company -6480050408 -10473483817 -7591676675
