Acquisition and Expansion - Hisense completed the acquisition of Sanden Corporation, expanding into automotive air conditioning compressors and thermal management systems[5] - The company completed the acquisition of a leading automotive air conditioning compressor manufacturer, expanding into the automotive air conditioning and thermal management systems market[11] - The company completed the acquisition of SanDian Company on May 31, 2021, which contributed to the consolidated financial statements from June to December 2021[22] Revenue and Profitability - The company achieved a revenue of 67.6 billion CNY in 2021, representing a year-on-year growth of 40%[11] - The revenue from the HVAC business reached 30.4 billion CNY, with a year-on-year increase of 30%[14] - The revenue from the ice and washing machine segment was 23.0 billion CNY, showing a year-on-year growth of 23%[14] - The company’s net profit attributable to shareholders was 0.973 billion CNY, a decrease of 38.4% year-on-year, primarily due to losses in the home air conditioning segment[14] - The company’s overseas sales revenue grew by 58.21% year-on-year, reaching 23.16 billion CNY[14] - The company’s operating revenue for 2021 was RMB 67.56 billion, an increase of 39.61% compared to RMB 48.39 billion in 2020[22] - Net profit attributable to shareholders for 2021 was RMB 972.58 million, a decrease of 38.40% from RMB 1.58 billion in 2020[22] - The company’s basic earnings per share for 2021 was RMB 0.71, a decrease of 38.79% from RMB 1.16 in 2020[22] Market Performance - Hisense's refrigerator exports reached a record high, ranking first in the industry for cumulative export value in 2021[5] - The refrigerator export volume reached a record high, with the company ranking first in the industry for cumulative refrigerator export value in 2021[16] - The company reported a 3.2 percentage point increase in the high-end market share of Ronshen refrigerators year-on-year[5] - The high-end product market share for the company’s refrigerator line increased by 3.2 percentage points year-on-year[11] - The commercial cold chain business saw a revenue increase of 54% year-on-year[11] Research and Development - The company is focusing on technology innovation and ESG development, aligning with the "dual carbon" strategy and enhancing its product competitiveness[12] - The company’s R&D investment amounted to RMB 2.15 billion, representing a 40.27% increase from RMB 1.53 billion in the previous year[32] - The number of R&D personnel increased by 71.02% to 2,892 from 1,691 in the previous year[31] - R&D expenses grew by 55% year-on-year, enhancing product competitiveness and supporting steady revenue growth[43] - The company upgraded its HVAC products to meet national carbon neutrality policies, incorporating 5G wireless communication for smart cloud access[43] Corporate Governance - The company’s board consists of nine members, with the executive directors including Dai Huizhong (Chairman and CEO), Lin Lan, Jia Shaoqian, Fei Licheng, Xia Zhangzhu, and Gao Yuling, while independent non-executive directors include Ma Jinqian, Zhong Gengshen, and Zhang Shijie[59] - The company’s board underwent changes, with Duan Yuebin stepping down as Chairman and CEO on October 28, 2021, and Dai Huizhong assuming the roles[59] - The board has adopted a diversity policy, emphasizing the importance of diverse backgrounds, including gender, age, culture, and professional experience, to enhance performance[60] - The company has established a governance structure to ensure compliance with relevant laws and regulations, including the Corporate Governance Code[64] - The board is tasked with overseeing the preparation of financial statements, ensuring they accurately reflect the company's business status and cash flow[60] Financial Management - The company’s cash cycle improved by 1.82 days year-on-year, indicating better cash management[14] - The company’s financing cash inflow increased significantly to RMB 5.92 billion, a 1,337.6% increase from RMB 411.84 million in the previous year[35] - The company’s total assets and liabilities reflect significant changes due to the consolidation of a subsidiary, impacting various asset categories[37] - The company reported a total asset value of RMB 55.95 billion at the end of 2021, an increase of 33.81% from RMB 41.81 billion at the end of 2020[22] - The company’s total liabilities reached CNY 40,357,298,250.20, compared to CNY 27,405,116,775.00 in 2020, reflecting a growth of 47.0%[180] Environmental and Social Responsibility - The company established a comprehensive environmental management system, achieving ISO14001 certification renewal in December 2021[18] - The company has created four national-level "green factories" and one national-level "green supply chain," actively responding to the national "dual carbon" strategy[19] - The company is committed to developing high-voltage new energy products to meet the growing demand in the new energy vehicle sector[50] Risks and Challenges - The company faces risks from macroeconomic fluctuations, rising costs of raw materials, supply chain disruptions, currency exchange rate volatility, and trade protectionism[51] - The company has identified significant uncertainties regarding its ability to continue as a going concern, which may impact future financial stability[177] Employee Management - The company employed 48,263 staff members, with total employee expenses amounting to RMB 5.34 billion in 2021, up from RMB 4.28 billion in 2020[102] - The company has implemented a three-tier training system, providing over 410,000 training hours to enhance employee skills and capabilities[103] Related Party Transactions - The independent non-executive directors confirmed that the ongoing related transactions are part of the company's daily operations and are conducted under fair and reasonable terms[111] - The auditors did not identify any issues regarding the approval of ongoing related transactions or compliance with pricing policies[112] - The total amount of related party transactions for purchasing finished products from Hisense Group is RMB 193.90 million, accounting for 0.00% of similar transactions[140] Future Outlook - The strategic focus for 2022 includes improving the intelligence level of home appliances and increasing the proportion of connected smart products[49] - The company plans to strengthen its brand strategy and leverage its sponsorship of the 2022 FIFA World Cup to expand its overseas market presence[50]
海信家电(00921) - 2021 - 年度财报