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CHINT Annual Report of 2021 & Q1 Report of 2022

CHINT Annual Report of 2021 & Q1 Report of 2022

CHINT Electrics (stock code: 601877), a listed company of CHINT Group, released the Annual Report of 2021 and Q1 Report of 2022 on April 28, 2021. 

We are committed to innovation, steady progress and long-term development, bravely explore a new blue ocean of “digital intelligence and double carbon”, and firmly move forward towards the grand blueprint of becoming a world-famous supplier of one-stop low-voltage appliances and new energy products and system solutions.

Overview of Financial Report: Steady Progress and Steady Performance

Table of Contents

2022Q1

  • Operating Income: 61 Billion USD
    Year on Year Growth – 54.91%
    Comparison of operating income in recent three years:
    2020Q1: 0.82 Billion USD;
    2021Q1: 1.04 Billion USD;
    2022Q1: 1.61 Billion USD
CHINT Q1 Performance
  • Net Profits Attributable to Shareholders: 71 Million USD ,
    Year on Year Growth 19.88%.
    The impact of the Supcontech has been deducted by 29.01 Million USD
    Comparison of net profits attributable to shareholders in recent three years:
    2020Q1: 51.53 Million USD;
    2021Q1: 98.06 Million USD;
    2022Q1: 117.71 Million USD
CHINT Q1 Net Profits

2021

  • Operating Income: 87 Billion USD
    Year on Year Growth 16.88%
    Comparison of operating income in recent three years:
    2019: 4.61 Billion USD;
    2020: 5.02 Billion USD;
    2021: 5.87 Billion USD
  • Net Profits Attributable to Shareholders: 40 Million USD
    Year on Year Growth 8.19%.
    The impact of the Supcontech has been included by 90.51 Million USD
    Comparison of net profits attributable to shareholders in recent three years:
    2019: 568.44 Million USD;
    2020: 558.62 Million USD;
    2021: 604.40 Million USD

Low Voltage Electrical Appliances

Digital Intelligence Transformation to Build a National Fashion Brand

1) CHINT China: Dual Drive of Channel Industry

  • 26 new regional sales head offices;
  • more than 5000 new customers;
  • more than 1300 dealers+;
  • 96% coverage at Prefecture and municipal level and 84% coverage at district and country level+

Model industry projects: 5G communication integrated cabinet and data center

Chint Model industry Projects
Chint 5G Data Center

The circle of customers and friends in the industry is expanding (Huawei, BYD, Gree Air Conditioning, State Grid, Hikvision, Alibaba, Zoomlion and China Merchants Shekou)

2) CHINT Global - Localization Strategy out of the Zone

  • 30 + national companies
  • 12 overseas logistics centers
  • 14 overseas service centers
  • 5 overseas factories
  • 1 overseas R&D center
  • 2000 + global active customers
  • Channels cover 140 countries.
Chint Global 140 Countries
  • Asia Pacific: +22%;
  • Europe: +42%;
  • North America: +90%;
  • West Asia & Africa: +23%;
  • Latin America: +27%

3) Science and Technology Innovation Pilot Empower Core Competitiveness

  • The R&D cost was 169.99 million USD with a year-on-year increase of 9.33%
  • A total investment of 468.41 million USD in three years
  • A total of 3911 patents

Household Energy

Continue to Leapfrog and the Development Capacity Reaches A New High

1) Channel-oriented, providing strong support for installed capacity breakthroughs

Channels cover 17 core provinces, 100+ prefecture-level cities, 800+ counties, 8GW+ installed capacity, 500,000+ end users, and a market share of 25%

  • Newly installed capacity: 4.75GW (+153%)
  • Newly cooperative development: 4.03GW (+172%)
  • Sales: 0.72GW (+80%)

2) Innovation support to provide efficient energy for rolling development

The whole county has signed 5.2GW+ of development contracts, sold 1.3GW+ in total, and the transaction amount is 755.5 million USD.

3) Winning in operation and maintenance, providing quality premium for power station operation

Covering 80+ cities across the country, 400+ offline operation and maintenance outlets, 1500+ operation and maintenance engineers, 500,000+ terminals operation and maintenance capabilities of power stations, comprehensive operation and maintenance power stations of 6.3GW+, power generation capacity of 4.5 billion kWh+.

4) Green development provides practical samples for common prosperity

It can increase the income of each farmer by about 27+ USD per year, provide 8.3 billion kWh of green electricity for the whole society, reduce CO2 emissions by 8.26 million tons, and create more than 40,000 rural labor jobs.

Photovoltaic Energy

Asset optimization, A New Cycle of Virtuous Cycle

chint photovoltaic energy
  • Developed ground power station [455] MW, sold [254] MW;
  • Developed industrial and commercial power station [22] MW, sold [57] MW;

The scalar quantity of modules is 8GW+, and the power generation capacity of the power station is 3.6 billion kWh+;

Wenzhou Taihan 550MW fishery-optical complementary project
Wenzhou Taihan 550MW fishery-optical complementary project praised by CCTV;
CHINT Inner Mongolia Kubuqi Photovoltaic
CHINT Inner Mongolia Kubuqi Photovoltaic Sand Control Project Becomes the Champion of International "UNIDO Global Call 2021"

Essential Honors

Essential Honors
  • No. 1 in ” China’s Top 100 Private Enterprises with Social Responsibility in 2021″
  • No. 12 in “Top 100 Private Enterprises in Zhejiang Province in 2021”
  • No. 92 in “2021 China’s Top 500 Private Enterprises”
  • No. 244th in “2021 Top 500 Chinese Enterprises”
  • For 8 consecutive years, CHINT has won the sales champion of Tmall double 11 electrical and hardware industry;
  • The intelligent manufacturing factory of low-voltage electrical appliances was selected as the national “2021 Intelligent Manufacturing Demonstration Factory”;
  • NXC series AC contactors won the third prize of electrical standards;
  • JZX-22F small electromagnetic relay won the third prize of Zhejiang Machinery Industry Science and Technology Award;
  • Noak Ex9M Molded Case Circuit Breaker Awarded as Shanghai Star Brand;
  • The low-voltage electrical appliance manufacturing unit was awarded the China Electricity Council’s 2021 Electric Power Technology Innovation Award, the first prize of the National Equipment Management and Technology Innovation Achievement Award, and the second prize of the State Grid Technology Innovation Award.

Chairman’s Speech

In 2021, in the face of the continuous recurrence of the pandemic, rising raw material prices, trade frictions and many other problems, we will anchor the “dual carbon” goal, digital intelligence and entrepreneurial innovation, and adhere to “deepen reform, full-chain collaboration, precise innovation, and multi-source development.” The management policy of “growth” has achieved double breakthroughs in existing business and new business, laying the foundation for achieving higher quality “stable” and “progressive”.

chint chairman

The tide is surging and thousands of sails are competing, and it is time to work hard. In 2022, CHINT will continue to implement the “high-tech, asset-light, platform-based, service-oriented” business policy, deepen the strategy of “one cloud and two networks”, build digital CHINT, build platform capabilities, and develop in urban and rural smart construction and international green low-cost. In the blue ocean of carbon development, we strive to be explorers, advocates and practitioners. We will be full of passion, embrace our dreams, and write new brilliance in our continuous struggle with rock-solid confidence, vigor to fight for the day, and perseverance.

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