ZCE(600121)2022-04-18 16:00Financial Performance - In 2021, the company reported a net profit attributable to shareholders of -214,984,710.83 RMB, with a basic earnings per share of -0.1764 RMB[4]. - The company's operating revenue for 2021 was 3,212,261,344.71 RMB, representing a 15% increase compared to 2,793,337,246.31 RMB in 2020[18]. - The total assets at the end of 2021 were 13,514,418,305.15 RMB, a decrease of 6.49% from 14,452,403,675.92 RMB in 2020[19]. - The company's net assets attributable to shareholders decreased by 12.59% to 1,582,221,966.31 RMB from 1,810,072,322.53 RMB in 2020[19]. - The cash flow from operating activities for 2021 was 42,441,960.83 RMB, a significant improvement from -114,256,178.03 RMB in 2020[18]. - The weighted average return on equity for 2021 was -12.67%, an improvement of 28.58 percentage points from -41.25% in 2020[20]. - The company achieved a 90.45% reduction in net profit attributable to shareholders after excluding non-recurring gains and losses, compared to 2020[20]. - The company reported a loss of RMB 9,753,801.12 due to asset impairment from natural disasters, specifically related to flooding that damaged equipment[23]. - The company reported a net profit of 36.25 million yuan for the year, with total assets amounting to 321.19 million yuan and net assets of 153.48 million yuan[70]. Revenue and Sales - In 2021, the company reported total operating revenue of RMB 3,212,261,345.71, with quarterly revenues of RMB 552,116,681.20 in Q1, RMB 964,730,577.23 in Q2, RMB 625,275,179.17 in Q3, and RMB 1,070,138,907.11 in Q4[21]. - The company achieved a coal production of 5.11 million tons and sales of 5.38 million tons, with a total revenue of 3.2 billion yuan and a profit of 164 million yuan[46]. - The comprehensive selling price of commodity coal (excluding tax) reached 527 yuan per ton, an increase of 193 yuan per ton year-on-year, resulting in an additional revenue of 1.038 billion yuan[33]. - The coal industry saw a revenue increase of 58.3% year-on-year, reaching 3.28966 trillion yuan, while total profit surged by 221.7% to 702.31 billion yuan[41]. - The company’s total revenue for the reporting period was approximately 1.7 billion RMB, with the top five customers accounting for 52.94% of total revenue[56]. Costs and Expenses - Operating costs decreased by 13.92% to CNY 2,122,652,187.32 from CNY 2,465,781,591.95, primarily due to a reduction in sales volume[47]. - Management expenses surged by 62.56% to CNY 741,207,169.78, primarily due to losses from production stoppages caused by regional policies and severe weather events[48]. - Financial expenses decreased by 27.38% to CNY 196,326,590.48, attributed to reduced interest expenses and increased interest income[48]. - Research and development expenses increased by 17.68% to CNY 11,554,992.66, reflecting the company's commitment to enhancing its R&D capabilities[47]. Market and Industry Conditions - The average coal price fluctuated significantly, peaking at 2,600 yuan per ton in October 2021, before experiencing a sharp decline due to supply policies[40]. - The coal consumption in China reached 2.934 billion tons in 2021, marking a year-on-year growth of 4.6%, with the power sector accounting for 56.4% of total consumption[39]. - The coal import volume for 2021 was 32.3216 million tons, with a total import value of 231.93 billion yuan, reflecting a 64.1% increase from the previous year[39]. - The company faced production disruptions due to regional policy shutdowns and severe weather, resulting in a production shortfall of approximately 1.5 million tons and a revenue loss of about 973 million yuan[46]. Safety and Risk Management - The company emphasized safety and risk management, implementing a three-year action plan for safety production and enhancing internal control systems[27]. - The company is focused on enhancing its risk resistance capabilities in response to potential market fluctuations[6]. - The company aims to enhance its emergency response capabilities by improving flood prevention plans and conducting drills[80]. - The company has established a safety production responsibility system that ensures accountability at all levels[79]. - The company is committed to improving operational efficiency through technological advancements and management innovations to control costs[92]. Governance and Compliance - The company has implemented a comprehensive assessment mechanism for directors and senior management based on production, safety, and operational budget execution[127]. - The internal control system was evaluated as effective with no significant deficiencies reported as of December 31, 2021[128]. - The company has made significant progress in governance and compliance, completing several rectification measures related to fund management and internal controls[132]. - The company received a warning letter from the China Securities Regulatory Commission on September 29, 2021, which was recorded in the securities and futures market integrity file[108]. Environmental and Social Responsibility - The company has implemented a comprehensive environmental management system, ensuring compliance with environmental regulations and achieving pollutant discharge standards[137]. - The company achieved a 100% safe disposal rate for solid and hazardous waste, and its wastewater treatment capacity is 2,500 cubic meters per hour[137]. - The company has actively participated in social responsibility initiatives, including disaster relief and poverty alleviation efforts, enhancing its community engagement[144]. - The company’s efforts in poverty alleviation led to recognition, with a village being awarded "Civilized Village" status and a company representative receiving an advanced individual honor[147]. Future Outlook and Strategic Plans - The company aims to achieve a coal production target of 6.6 million tons in 2022, with a revenue goal of 3.9 billion yuan and a total profit target of 458 million yuan[77]. - The company is committed to transitioning towards high-quality development characterized by green, low-carbon, and intelligent practices in line with national "dual carbon" strategies[72]. - The company plans to focus on safety management and risk prevention, emphasizing the importance of adhering to safety protocols and enhancing coal quality control[74]. - The company aims to enhance its core competitiveness by expanding external markets and increasing the proportion of external revenue and profit in total income and profit[86].