[年报]建车B(200054):2021年年度报告（英文版）
原标题:建车B:2021年年度报告（英文版） 2021 Annual Report 2022-024 April 2022 I. Important Prompts, Table of Contents, and Definitions The Board of Directors, The Supervisory Committee, the supervisors and the directors of the Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report. Mr.Yan Xuechuan, The Company leader, Mr. Tan Mingxian, Chief financial officer and the Ms.Niu Yanli, the person in charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and completeness of the financial report enclosed in this Annual report. All the directors attended the board meeting for the review of this Report. Prospective statements carried in this report, such as business plans for future are not constituting any substantial commitment to the investors. Please be cautious to the risks. This report is prepared both in English and Chinese. When there is any conflict in understanding, the Chinese version shall prevail. The company had concretely described the existed factors of risks of the company in the report, of which please refer to the contents in the Report of directors concerning the possible facing risk factors in the company’s future development. The company’s business plan and business goal of the year do not represent the 2022-annual earnings forecast made by the company, hence whether those can be realized depending on many factors such as the market circumstance and the extent of hard working of the management team, thus there is a large extent of uncertainty, please be aware of the investment risks. The Company will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the report period. Table of Contents I.Important Notice, Table of contents and Definitions II. Company Profile & Financial Highlights. III. Management Discussion & Analysis IV. Corporate Governance V. Environmental & Social Responsibility VI. Important Events VII. Change of share capital and shareholding of Principal Shareholders VIII. Situation of the Preferred Shares IX. Corporate Bond X. Financial Report Documents Available for Inspection I. Annual Report carrying personal signature and seal of the Chairman of the Board. II. Financial Statements with signatures of the legal representative, the financial officer, and accounting manager. III.Original copy of the Auditors’ Report with the seal of the CPA and signed by the certified（ZXCGHSKZ[2022]No.302040. IV. All of the originals of the Company’s documents and public notices publicized by the presses designated by China Securities Regulatory Commission in the report period. V.Statement on special audition on appropriation of capital by controlling shareholder and related parties of Chongqing Jianshe Vehicle System Co., Ltd.( ZXCGHSZZ[2022]No.302010). VI. Auditing Report on Internal Control for Chongqing Jianshe Vehicle System Co., Ltd. （ZXCGHSZZ[2022]No.302011). VII. Special review report on the situation of deposit and loan of Chongqing Jianshe Vehicle System Co., Ltd. from the Military Equipment Finance Co., Ltd. ( ZXCGHSZZ[2022]No.302012). VIII. Special verification opinion on the deduction of operating income of 2021 of Chongqing Jianshe Vehicle System Co., Ltd. ( ZXCGHSZZ[2022]No.302013). Definition
Ⅰ. Company Information
CPAs engaged
□ Applicable √ Not applicable The Financial advisor performing persistent supervision duties engaged by the Company in the reporting period □ Applicable √ Not applicable Ⅵ. Summary of Accounting data and Financial index Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data. □Yes √No
three fiscal years is negative, and the auditor's report of the previous year shows that the Company’s going concern ability is uncertain. □ Yes √No The lower of the net profit before and after the deduction of the non-recurring gains and losses 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. Main Financial Index by Quarters In RMB
index of the quarterly report as well as semi-annual report index disclosed by the Company. □ Yes √No IX. Items and amount of non-current gains and losses √Applicable □Not applicable In RMB
None For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason. □ Applicable√ Not applicable None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period. III. Management Discussion & Analysis I. Industry information of the Company during the reporting period The Company shall comply with the disclosure requirements of automobile manufacturing-related industries in the Guideline No.3 for Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry Information Disclosure. 1. Overall situation of automobile industry According to the statistics of China Association of Automobile Manufacturers, in 2021, the production and sales of automobiles were RMB 26.082 million and RMB 26.275 million, with a year-on-year increase of 3.4% and 3.8%. It shows four main characteristics: First, it has ended the decline for three consecutive years since 2018. Second, the annual sales volume of new energy vehicles exceeded 3.5 million, and the market share increased to 13.4%. Third, driven by factors such as the recovery of the international market and the improvement of Chinese brand competitiveness, in 2021, the export vehicles exceeded 2 million for the first time, achieving a breakthrough of around 1 million for many years. Fourth, driven by new energy and export markets, the market share of China's brand cars has exceeded 44%, approaching the best level in history. 2. Analysis of automobile air conditioning compressor industry The automobile air-conditioning compressor industry keeps pace with the development of automobile industry, and its share concentration is further expanded, with the top four in the industry accounting for about 70% of the total. Based on the huge number of fuel vehicles, non-electric compressor products will still maintain a large scale capacity in the next few years. However, due to the rapid development of new energy vehicles and the forced fuel consumption regulations, the proportion of fixed-displacement compressors will gradually decrease. Following the "going out" of independent brand OEMs and the "globalization" of foreign brands, the trend of fixed-displacement compressors gradually moving overseas is obvious, which is bound to bring opportunities and chances for the Company's fix-displacement compressors to stabilize scale, improve quality and prolong service life. The Company has introduced, digested, absorbed and independently innovated the rotary vane technology for more than twenty years. In terms of industry development trend, the rotary vane technology will face the ceiling, therefore the Company needs to speed up the digestion and introduction of new technology products such as vortex motor. II.Main Business the Company is Engaged in During the Report Period The Company shall comply with the disclosure requirements of automobile manufacturing-related industries in the Guideline No.3 for Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry Information Disclosure. 2021 is the first year of the "14th Five-Year Plan". In order to start with a new opening, the Company have taken multiple measures to actively deal with the adverse effects such as pandemic, lack of chip and electricity, and reduction of orders, and achieved 90.2% of the annual sales target and 93.2% of the annual revenue target. In the whole year, 1,811,100 sets of air-conditioning compressors for vehicles were produced and 1,731,500 sets were sold, which decreased by 6.81% and 6.96% respectively year on year, and the operating income was RMB 680 million, which decreased by 8.2% year on year. As for the annual key work formulated by the Board of Directors at the beginning of the year, the actual promotion is as follows: (I) Industrial adjustment to promote development ability First, the development of electric compressors is robust. The Company has seized the opportunity of the new energy market, improved the operation mechanism, optimized the integration of resources, broadened the product platform, and achieved a number of market project results. Beiqi Qingdao KY13E/KY23E project has been approved as a fixed-point project; The category of Ruichi models has been expanded from 5 to 31; Hongrui R2B-115V project achieved mass production; 36CC electric compressor has been actively promoted, achieving the docking of 4 market projects. It sold 9,234 sets of large-displacement and electric compressors throughout the year, initially forming a large-scale sales. Second, the fixed-displacement compressors are basically stable. Under the influence of the overall downward trend of the fixed-displacement market and the switching of the technical upgrading products of OEMs, the Company has deeply tapped the potential customers and successfully acquired new projects such as Changan Auchan X5-MCA and Great Wall A06/A07. Changan B211-GPF, Great Wall A01, Geely LG02, Nissan 534, etc. have successively entered the mass production stage, with Changan market increasing by 13.8% year on year and Peugeot-Fiat market increasing by 18.2% year on year. However, the Great Wall Motor Market, Geely Automobile Market and UCM (Malaysia) market declined respectively. In the offline market, through channel optimization, sluggish product modification and launch and innovative cooperation among dealers, it filled the model gap, expanded 10 dealers successfully, and achieved 61,000 units in sales volume, with a year-on-year increase of 4.0%. Third, the parts witness stable progress. Pingshan Taikai further expanded the sales volume of carburetor, vigorously explored the market of throttle body and EFI system, promoted the market expansion of brushless fuel pump, and made use of existing assets to produce and sell auto parts. This year, the sales of carburetor, EFI system and auto parts all achieved an increase, with an operating income of RMB 52.2 million, up by 31.96% year on year. (II) Innovation in science and technology promotes core competitiveness First, the innovation system has been continuously improved. Improve the top-level design, formulate the Company's Implementation Plan for Accelerating the Construction of Scientific and Technological Innovation Enterprises, and determine the tasks, objectives and work measures of scientific and technological innovation. Promote the construction of science and technology platform, set up the regional enterprise technology innovation center, and form a "1+3+1" science and technology innovation platform; Relying on the key laboratory, set up an academic committee, which provided platform support for the Company to solve the technical problems of electric compressors and automotive thermal management products. Deepen the industry-university-research cooperation and cooperate with five units including Changan New Energy and Chongqing University of Posts and Telecommunications to jointly develop the project "Research and Application of Key Technologies of Intelligent and Efficient Vehicle Thermal Management System Controller", which has obtained the approval of Chongqing Technology Innovation and Application Development Project, and fully promote the research of high-efficiency electric compressor and advanced motor and drive control technology for compressor. Cooperation with Chongqing Jiaotong University in the research of key technologies of scroll compressor pump system has achieved initial results. Second, product research and development has been further advanced. Focus on building an electric compressor platform. 27CC product performance optimization completed the stage goal, 36CC product entered the stage of engineering development, and the product scheme of air-supplying enthalpy-adding electric compressor passed the review and completed the prototype development; Focus on tackling key technical problems of heat pump air conditioning system, establish new energy vehicle thermal management system product project team, carry out the project planning and technical research, build and simulate the technical architecture of heat pump air conditioning system, and build a set of basic heat pump test bench, with new product development of motorcycle EFI system advancing side by side with market project expansion. There were 10 new projects in the whole year, orders were received from customers for α/N EFI system; Focus on product innovation projects. The completion rate of 42 R&D project planning nodes is 100%, of which 7 were completed in 10 basic research projects, 6 in 13 new product development projects and 9 in 19 market development projects achieved mass production, and the contribution rate of new products remained above 55%. Third, scientific and technological achievements are constantly emerging. 2 projects won the third prize of Science and Technology Award of China South Industries Group, 3 new products were rated as major new products in Chongqing, 2 projects applied for Chongqing Science and Technology Innovation Guidance Catalogue and finished product appraisal, and 3 urban-level scientific research projects were completed as planned. The quality of patents has been greatly improved, the proportion of invention patents accepted has increased from less than 20% to 63%, and it has been awarded a good rating for Chongqing's technological innovation demonstration enterprises. (III) Benchmarking management to consolidate the ability of value creation First, overall budget management has been continuously strengthened. Break down the annual business objectives to achieve full budget coverage; Strengthen the management of budget process, closely monitor the implementation of budget targets, and well ensure the in-process management and control; Adhere to the rigid budget constraint, decompose the budget indicators into departmental KPI indicators, strictly assess and correct them in time, ensure the rigidity and seriousness of budget implementation, and overfulfill the annual budget targets. Second, lean management has been further advanced. Solidly carry out a special OEE promotion campaign for machining equipment, with OEE reaching 74.7%, up by 1.9% year on year. Build a lean GK team with construction characteristics. 8 of the Company's 14 production teams have reached the three-star standard, 4 have reached the four-star standard and 1 has reached the five-star standard. Carry out 6S brand-winning activities with reference to Japan Yamaha 6S evaluation system and standard, with 9 units winning bronze medals. Vigorously develop lean production line construction, deepen the application of quality management system and data acquisition system of Line 5#, and achieve remarkable results, reducing internal quality loss by RMB 600,000. Third, technical management continues to improve. Strengthen the process improvement, optimize and adjust the layout of machining technology, automate some processes of the assembly line, and reasonably decompose the inspection and packaging operations, thus effectively improving the production efficiency. Strengthen key research projects, increase the production efficiency of nickel-free phosphating solution by 25%, reduce the leakage rate of M6*30 screw seal part of compressor by 93%, reduce the rework ratio of gap defect rate by 68%, and improve the three bottlenecks of dynamic and static disk grouping, leakage and running-in of electric compressor. Fourth, the quality management has achieved remarkable results. Vigorously promote the construction of "1+N" quality system, successfully pass the review of IATF16949 system and Peugeot QSB+ system, and obtain the license of Changan QCA2.0 system supplier. Continuously carry out "quality improvement activities", with 13 special improvement projects and 39 improvement measures achieving remarkable results, including zero-kilometer PPM and three-guarantee PPM decreasing by 28.3% and 24.1% respectively. Vigorously improve the quality of electric compressors, formulate the Improvement Plan for Quality Control of Electric Compressors, and carry out the activities of "quality inspection, rectification and improvement of new energy compressors", with all 52 problems being rectified. Fifth, the resilience of the supply chain has been enhanced. Pay close attention to the supply progress of key bottleneck parts, overcome the pandemic, lack of chip and electricity and other difficulties, and complete the supply task. Initially set up the procurement system of electric compressors, which provides guarantee for the development of electric compressor in the Company. Optimize the continuous supply chain system, and combine the production demand and supplier evaluation, introduce 6 new suppliers, eliminate 2 suppliers, and expand 89 parts. Promote the informatization of procurement management, deepen the use of the electronic procurement platform of Norincogroup-eBuy, and fully realize the openness, centralization and electronization of tendering procurement. Sixth, risk prevention and control are carried out strictly. Set control indicators for 3 major risks and 3 important risks, and work out countermeasures to avoid and control them, which promotes the smooth and orderly operation of the Company. Revise the Company's Comprehensive Risk Management Measures, strengthen daily risk monitoring, further find loopholes, improve shortcomings, and strictly control the occurrence of various risks. Carry out special actions for risk prevention and control, formulate and implement the Company's Special Action Plan for Risk Prevention and Control, strictly investigate potential risks, and provide a strong guarantee for the safety of employees' lives and property and the stability of the Company's production and operation. Further promote the enterprise management according to law, actively prevent and control various legal risks, and recover losses of RMB 2.21 million. Vehicle manufacturing, production and operation during the reporting period □ Applicable √Not applicable Production and operation of auto parts during the reporting period √ Applicable □ Not applicable
Parts sales model The Company is an enterprise mainly engaged in the production of air-conditioning compressors for vehicles, present, the designed capacity of the Company's fixed-displacement compressor products is 2 million units, and the actual output in 2021 is 1,811,100 units, with a capacity utilization rate of 90.56%; And the designed capacity of electric compressors with large-displacement is 350,000 units, and the actual output in 2021 is 9,869 units. The company conducts auto finance business □ Applicable √Not applicable The company conducts new energy vehicle related business □ Applicable √Not applicable Subsidy income of new energy vehicles III.Analysis On core Competitiveness The Company shall comply with the disclosure requirements of automobile manufacturing-related industries in the Guideline No.3 for Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry Information Disclosure. Product pedigree construction: On the basis of introducing the world's advanced technology, the Company actively carries out independent innovation. After years of development, the product pedigree and technical system are becoming increasingly complete; Including rotary vane compressor, swash plate fixed-displacement and variable-displacement and electric compressor with complete intellectual property rights, forming five product platforms of "rotary vane iron/aluminum, piston fixed/variable-displacement and electric compressor"; The products cover 18CC to 480CC displacement. Innovation platform construction: The Company has built a "1+3+1" scientific and technological innovation platform (national post-doctoral workstation+Chongqing Enterprise Technology Center, Chongqing Automobile Thermal Management System Engineering Technology Research Center, Chongqing Automobile Air Conditioning Compressor Key Laboratory+Chongqing Jiulongpo Innovation Center), which provides a strong platform support for the transformation and upgrading of automobile thermal management products, the development of applied basic research and innovative research on key technologies, the cultivation of scientific and technological talents, and technological industrialization. The Company has established a Industry-University-Research platform with China Automotive Engineering Research Institute, Shanghai Jiaotong University and Chongqing Jiaotong University, mainly to study the working mechanism of compressors and noise optimization of compressors, and to tackle key technical bottlenecks. R&D capacity building: The Company has the largest and most functional experimental testing center for automotive air-conditioning compressors in Southwest China. It has imported more than 50 sets of advanced equipment for reliability test, system test, performance test and NVH test from abroad, with a value of more than RMB 50 million, and has strong basic research capabilities, product development and design capabilities, simulation and analysis capabilities and trial production and processing capabilities. In recent years, 12 major new products in Chongqing have been approved, more than 20 provincial and ministerial level science and technology awards have been won, and more than 200 patents have been applied for, including more than 40 invention patents. （未完）  |