[年报]宁通信B(200468):2021年年度报告（英文版）
原标题:宁通信B:2021年年度报告（英文版） 2021 Annual Report April 2022 Section I. Important Notice, Contents and Paraphrase Board of Directors, Board of Supervisory, all directors, supervisors and senior executives of Nanjing Putian Telecommunications Co., Ltd. (hereinafter referred to as The Company) hereby confirm that there are no any fictitious records, misleading statements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents. Sun Xigang, principal of the Company, Wang Huilin, person in charger of accounting works and Tang Yiqiao, head of accounting organization (accounting principal) hereby confirm that the Financial Report of Annual Report 2021 is authentic, accurate and complete. All directors are attend the Meeting for Report deliberation. The forward-looking statements such as operation programme involved in the annual report do not constitute a substantial commitment of the Company to investors. Investors and relevant persons should maintain sufficient risk awareness and understand the differences between programme, forecasts and commitments. Possible risks that might be countered during the development have been analyzed in Section III. Management Discussion and Analysis in the Report, investors are kindly advised to check. The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either. Contents Section I Important Notice, Contents and Paraphrase ......................................................................... 2 Section II Company Profile and Main Financial Indexes .................................................................... 6 Section III Management Discussion and Analysis ............................................................................. 12 Section IV Corporate Governance ..................................................................................................... 32 Section V Enviornmetnal and Social Responsibility ....................................................................... 55 Section VI Important Events .............................................................................................................. 57 Section VII Changes in shares and particular about shareholders ..................................................... 91 Section VIII Preferred Stock..............................................................................................................98 Section IX Corporate Bonds .............................................................................................................. 99 Section X Financial Report .............................................................................................................. 100 Documents Available for Reference (i)The financial statement containing signature and seals of the person in charge of the Company, person in charge of the accounting works and head of accounting organization (accounting principal); (ii)The original audit report containing the seals of accounting firm and signature and seals of the CPA; (iii)Original copies of documents and announcements The Company released publicly during the reporting period. Paraphrase
I Company information
IV. Registration changes of the Company
CPA engaged by the Company
Financial adviser engaged by the Company for performing continuous supervision duties in reporting period √ Applicable □ Not applicable
Whether it has retroactive adjustment or re-statement on previous accounting data or not √Yes □No Retroactive adjustment or reasons of re-statement Correction of accounting errors
Telecommunications Co., Ltd (Administrative Supervisory Measures Decision Letter of Jiangsu Securities Regulatory Bureau [2022] th th No.10), and after deliberated and approved by 58 session of 7 BOD held on April 22, 2022, The Company adopted retrospective restatement method to correct the accounting errors for the periodic reports of 2017, 2018 and 2019. For the impact with annual operation results and financial status concerned, found more in the Notice on Correction of Prior Period Accounting Errors released by the Company dated April 26, 2022 and ―15(1).Correction of Prior Period Accounting Errors‖ carried in Section X. of the Annual Report. The lower of the Company’s net profit before or after deduction of non-recurring profit (gain)/loss for the last three financial years is negative, and the audit report for the latest year indicates that there is uncertainty about The Company’s ability to continue as a going concern □Yes √No The lower of the net profit before or after deduction of non-recurring profit (gain)/loss is negative √Yes □No
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period. 2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles) in the period. VIII. Quarterly main financial index Unit: RMB/CNY
index disclosed in The Company’s quarterly report and semi-annual report □Yes √ No IX. Items and amounts of extraordinary profit (gains)/loss √ Applicable □ Not applicable Unit: RMB/CNY
□Applicable √Not applicable Information on the definition of non-recurring profit(gain)/loss that listed in theQ&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss as the recurring profit(gain)/loss □Applicable √Not applicable The Company does not have any non-recurring profit(gain)/loss listed under theQ&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/lossdefined as recurring profit(gain)/loss Section III. Management Discussion and Analysis I. Industry of the Company during the reporting period According to the information released by the Ministry of Industry and Information Technology, in 2021, China’s communication industry actively promoted the construction of a network powerful nation and Digital China, andfully acceleratedthe construction and application of new information infrastructure such as 5G and gigabit optical networks, which provided strong supports for creating new advantages in the digital economy and enhancing economic development. The development quality and growth level of the industry were further improved, achieving a good start in the ―14th Five-Year Plan‖. The network infrastructure continued to evolve and upgrade, the investment in fixed assets was basically the same as the previous year, and the investment in 5G accounted for nearly half; the network infrastructure was optimized and upgraded, and the construction of all-optical networks was further advanced; 5G network construction was accelerated, and network coverage continued to advance. The communication equipment manufacturing industry is the upstream industry of the communication industry and an important foundation of the communication industry. Driven by national policies, the communication equipment manufacturing industry is generally facing good development opportunities; at the same time, the communication equipment manufacturing industry is a fully competitive industry with many enterprises and fiercecompetition, and the overall profit level is declining. From the segmentationof the Company’s main products, in terms of integrated wiring products, with the implementation of cloud computing and big data, the construction of domestic data centers has been steadily advanced, and the network architecture of the military, government, and rail transit industries has been transformed and upgraded,as the data center infrastructure, integrated wiring has been driven by them; in terms of video conferencing products, with the intensification of Sino-US trade frictions, the product competitiveness of domestic brands in the industry has continued to increase; interms of low-voltage distribution products, the market has formed a competition pattern with product technology, service ability and sales channel as the core, and the market competition is fierce. The target market of wiring products mainly includes the private network markets such as operators, tower companies, and governments, of which the product differentiation is small, and price competition is the main feature of the industrial competition pattern of this product. II. Main businesses of the Companyduring the reporting period As one of the important product and solution providers in the domestic information and communication field, The Company adheres to the "product + solution + service" strategy, and continuously accelerates product innovation, industrial structure adjustment, transformation and upgrading. The main business of the Company and its subsidiaries involves optical communication networks, wireless communication networks, data applications, industrial electric and other fields, including optical distribution networks and communication supporting overall solutions (ODN overall solutions, optical network intelligent solutions, energy-saving data centre solutions), multimedia communication and application solutions, building intelligent integrated solutions, industrial intelligent power distribution systems, solar street light control systems, etc. Customers include domestic telecom operators, China Tower and industry customers in government,finance, power, medical and other fields. The Company’s optical distribution network and communication supporting overall solutions can be used for domestic communication network construction, broadcasting and television network transformation, high-speed rail communication construction projects of operators, internet and other enterprises; the subsidiary Nanjing Southern Telecom Co., Ltd. can provide multimedia communication and application solutions for the large and medium-sized industry customers in the fields of government, finance, medical care, and education, and so on; the subsidiary Nanjing Putian Telege Intelligent Building Ltd. mainly provides customers with mid-to-high-end integrated wiring and building intelligent system solutions; subsidiary Nanjing Nanman Electric Co., Ltd. is oriented towards rail transit, airports, ports and other industrial sites and provides industrial intelligent power distribution products; the subsidiary Nanjing Putian Datang Information Electronic Co., Ltd. mainly provides customers with solar street lamp controllers and Internet of Things street lamp monitoring systems, etc. The Company mainly obtains business opportunities by participating in project bidding, designs plans, produces or purchases equipment required by customers according to project requirements, and is responsible for installation and debugging, and realizes profits after deducting costs in accordance with the contract price. The Company's operating results are mainly affected by factors such as capital expenditures by telecom operators and industry customers, information input and bidding results, fluctuations in raw material prices and other cost changes. During the reporting period, The Company granted 14 new patents (including 4 patents for inventions and 10 utility models) , and participated in the formulation of multiple industry standards such as Standards of the PoE System Engineering Technical for Ethernet; Southern Telecom obtained the Information Technology Service Management System Certification and the participation of building the ―isolation area remote visiting system‖ of Second Hospital of Shandong University won the 5G+Smart Medical Innovation Application Awards; Telege Company obtained the certification of first batch ―Power Over Ethernet (PoE) Products‖ in China. III. Core Competitiveness Analysis 1. Marketing ability The Company has mature market networks, servesthe operators and industry customers in the government, rail transit, finance, medical, power, internet companies and others over a long period of time, and has rich industry experience. 2. Product competitiveness The Company insists on being market-oriented, strengthening and optimizing its leading products, actively developing new products, and constantly improving its innovation capabilities. The Company has high technology and product advantages in wiring products. It has developed a series of optical network connection products that have obtained a number of national invention patents, and is a supplier of strong brand influence in the field of domestic optical fiber communication network connection products. Prefabricated steel structure data center products can quickly build data center modules for use in the construction of data center computer rooms, and perform on-site integration of various equipment in the production area to achieve integrated delivery. Access products have good performance in wired access networks, optical transmission networks, wireless access networks, etc., and are ranked among the "Top Ten Most Competitive Enterprises in China's Optical Transmission and Network Access Equipment" throughout the year. Focusing on video communication applications for more than 20 years, the subsidiarySouthern Telecom has accumulated rich market channels and client resources, as well as differentiated products and conceptual design capabilities, the self-developed products have been recognized by large industry clients. The complete set of electrical products of the subsidiary, Nanman Company, are widely used in airports, wharves, rail transit and other industries, and has accumulated rich customer resources and industry experience, and can provide customers with complete sets of products and solutions for individual needs. Telege Building is positioned in the high-end market for cabling system, and its products serve the Beijing Winter Olympics, domestically produced large aircraft and other key projects, and it is actively developing 3. Brand influence The Company is an information and communication enterprise under the central state-owned enterprise, and communication products have a strong brand influence in the field of domestic optical fiber communication network connection products. The integrated cabling products of Telege Building are well-known brand products in Jiangsu Province, a famous trademark of the province, and have been ranked among the top ten domestic cabling system brands for more than ten consecutive years. The video conferencing product series of Southern Telecom have a high reputation in China. IV. Main business analysis 1.Overview During the reporting period, The Company adhered to the general principle of seeking progress while maintaining stability, closely focused on The Company’s annual business tasks, and continued to carry out industrial adjustment, deepen reform and innovation, reduce redundant staff, and promote cost reduction and efficiency improvement under the enormous pressure from external shocks such as the COVID-19 pandemic and rising raw material prices, as well as The Company’s cash flow and production cost.During the reporting period, The Companyachieved an operating income of 917.13 million yuan, and net profit attributable to shareholders of the listed company was -138.77 million yuan. The operating income decreased by 10.55% compared with the previous year, mainly due to the intensifying market competition, repeated pandemics, industrial restructuring and other factors. The Company strived to promote product transformation, reduce gross profit business, and improve sales order quality, thus the overall gross profit margin increased, and the comprehensive gross profit margin increased by 3.83% on a year-on-year basis. The Company continued to strengthen the control of general expenses, and expenses decreased by 28.65 million yuan compared with the previous year, however, while the price of raw materials rose and the sales volume declined, The Company still needed to bear fixed costs and expenses, at the same time, The Company made a provision for asset impairment of 107.32 million yuan in accordance with the accounting standards this year, so the current net profit was negative. Development situation of main business during the reporting period: Base on the strategic positioning of the―National Team of Internet Information Business‖ of CETC’s civil products, The Company returned to the original intention of the industry, focused on key market development, continuously increased new product research and development, tapped product production potential, innovated cost control methods, adhered to the industry, focused on the main business, and strived to make solid, professional and refined industry . In terms of traditional products, we focused on key industries, and continued to explore the transformation of traditional wiring industry to data center business while stabilizing the existing industry position. In 2021, the wiring products won the bids for the centralized procurement of Zhongnanhai Special Communication Bureau, and won the bids for Nanchang Metro Line 4, Nanjing Metro Line 5 and other system integration projects; successfully signed thecontracts for Jiangsu Unicom future city project, China Telecom Wuxi Branch custom cabinet supporting project, etc.. Completed the optical cable intelligent transformation projects of Beijing Metro Line 1 and Batong Line. The Company actively participated in the construction of data centers and other projects, and successfully supplied projects such as Suzhou Telecom Taihu data center channel, Jiangsu Mobile Jiangbei data center, Wuxi Telecom Dafu data center micromodule, Huawei Changzhou Telecom micromodule, Suzhou Baidu cabinet. Completed the implementation of Tencent Huailai Dongyuanphase III T-block project, the maintenance of Dongtai big data room project, and the completion acceptance of Nanjing Telecom Jishan data center project. The basic processing department took advantage ofthe information platform to improve and continuously improved the manufacturing level; strived to improve the efficiency of production Southern Telecom successfully signed contracts for the renewal of insurance of the Postal Savings Bank of China and the upgrade and expansion of the cloud videoconferencing platform of China Everbright Bank. In addition, The Company utilized its accumulated resources in the videoconferencing industry to gradually integrate into the Huawei ecosystem, and Huaweibusiness successfully won the bids for Minmetals, CCCC, PCOC and other large-scale projects. New businesses such as multimedia integration and independent research and development continued to grow. Telege Company became the first batch of manufacturers to obtain POE certification in China, and completed the supply of integrated wiring products for many projects such as the weak current system engineering project of the Yanqing Winter Olympics Village project, the Beijing Financial Court project, and the west district supporting project of Shanghai Hongqiao International Airport. The Company actively dug deep into customers in medical, education and other industries, and supplied for the troops stationed in Hong Kong and Macao, the National Defense University project, China Construction Bank Liaoning Branch and other projects. Nanman Company continued to deepen its development in the rail transitfield, and signed Beijing Metro Line 19, Hangzhou Metro Line 9, Hefei Metro Airport Line, Shenzhen Urban Rail Transit Line 6 Branch Line and other projects, and maintained its leading position in the industry. In terms of social projects, The Company signed Xiongan Pipe Gallery, Shenneng Environmental Protection and other projects. Datang Company quickly responded to market changes, launched new products such as integrated lamp panels and cruise terminal positioning management systems, and formed a certain sales. At the same time, The Company insisted on independent research and development and increased technological innovation. Telege Company seized the opportunity of localization of high-end wiring, and completed the research and development of new six types of distribution frames, new modular distribution frames and automated production lines, B1/B2-class high flame retardant cables, and the data acquisition of a new generation of electronic distribution frame systemlocalizationsmart jumpers and domestic solutions; Nanman Company completed the research and development of the second-generation socket box and successfully put it on the market; Southern Telecom completed the full-featured Ruijing 13.3-inch conference guide all-in-one machine, and completed the schematic diagram of the core board and PCB designwork etc.. Datang Company completed the lamp board development of the new CPU platform and successfully launched it into the market. In terms of operation and management, while doing a good job in the pandemic prevention and control, The Company continued to focus on the four key tasks of ―saving expenditure, opening source, innovation, and assessment‖, deepened internal reform and adjustment, improved operation quality, strengthened internal control, solidly promoted the governance of loss-making enterprises, continued to promote the cost reduction, continuously consolidatedThe Company’s operating foundation, and enhanced competitiveness. 2.Revenue and cost (1)Composition of operating revenue Unit: RMB/CNY
revenue or operation profit √Applicable □ Not applicable Unit: RMB/CNY
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