CEVIA(000885)2022-03-30 16:00Financial Performance - The company reported a profit distribution plan of 1.50 CNY per 10 shares (including tax) based on a total of 642,078,255 shares[8]. - The company's operating revenue for 2021 was ¥5,631,402,442.79, representing a 65.46% increase compared to the previous year[34]. - The net profit attributable to shareholders for 2021 was ¥962,787,084.06, which is a 55.99% increase from the previous year[34]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥913,906,945.70, reflecting a 45.17% increase year-over-year[34]. - The net cash flow from operating activities for 2021 was ¥1,272,978,215.12, an increase of 32.76% compared to the previous year[34]. - The total assets at the end of 2021 amounted to ¥21,747,758,322.29, marking a 61.20% increase from the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥5,602,251,164.35, which is an 18.24% increase from the end of 2020[34]. - The basic earnings per share for 2021 was ¥1.4995, a 32.39% increase compared to the previous year[34]. - The diluted earnings per share for 2021 was also ¥1.4995, reflecting the same percentage increase of 32.39% year-over-year[34]. - The weighted average return on equity for 2021 was 18.56%, up from 16.71% in 2020[34]. - The company reported a total of ¥48,880,138.36 in non-recurring gains for 2021, compared to a loss of ¥12,313,228.99 in 2020[40]. Business Transformation and Strategy - The company underwent a significant business transformation in 2018, shifting its focus from cement production to environmental and public utility projects, including investment, construction, and management[29]. - The company operates in the environmental and public utility sectors, focusing on infrastructure investment and management[29]. - The company aims to increase the waste-to-energy processing capacity to 80,000 tons/day by the end of 2025, with a target of 65% for urban waste incineration processing capacity[48]. - The company plans to enhance its operational management capabilities by establishing a comprehensive business analysis system across all projects[49]. - The company is positioned to benefit from the growing market for wastewater treatment, with a target of achieving a 25% reuse rate for reclaimed water in major cities by 2025[48]. - The company is pursuing internationalization as a strategic direction to enhance its market presence[100]. - The company plans to accelerate the transformation of its industrial structure, with the environmental protection industry now accounting for over 50% of its business[103]. Mergers and Acquisitions - The company completed the acquisition of 8 waste-to-energy projects and 5 medical hazardous waste projects through equity acquisition, marking a breakthrough in external mergers and acquisitions[52]. - The company has acquired 100% of Zhengzhou Qidi Company for ¥721,883,200.00, focusing on waste incineration power generation[85]. - The company approved the merger plan with Tsinghua Tongfang Environmental Technology Co., Ltd. and the associated fundraising proposal on July 22, 2021[177]. - The company reported a significant asset restructuring due to the merger with Tsinghua Tongfang Environmental Technology Co., Ltd., which is classified as a major asset reorganization[179]. - The company has acquired 100% equity of Zhengzhou Tsinghua Zero Carbon Technology Co., Ltd. from Tsinghua Tongfang Environmental Technology Co., Ltd.[180]. Risk Management and Governance - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements in its annual report[8]. - The company faces risks from potential changes in national industry policies, which could impact its operations and market development[106]. - The company will actively monitor industry policies and expand into overseas markets to mitigate risks associated with policy changes[106]. - The company has decided to forgo the acquisition of a 100% stake in a related company, prioritizing its own interests and capabilities for future opportunities[116]. - The company has a diverse board with members holding various professional backgrounds, including engineering, economics, and management[127][128][129]. - The board includes independent directors with extensive experience in accounting and legal fields, enhancing corporate governance[135][136]. Operational Efficiency and Cost Management - The company has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in operational costs[154]. - The company reported a significant increase in costs for environmental engineering contracting and equipment business, with raw material and labor costs rising by 75.73%[68]. - Sales and management expenses increased by 24.03% and 35.49% respectively, primarily due to the expansion of the consolidation scope and stable business operations[74]. - Financial expenses rose by 75.73% to ¥274,832,004.44, attributed to an increase in the financing scale during the reporting period[74]. - R&D expenses surged by 1,001.64% to ¥10,695,551.58, mainly due to increased material costs[74]. Employee and Management Structure - The total number of employees at the end of the reporting period is 4,712, with 122 from the parent company and 4,590 from major subsidiaries[187]. - The employee composition includes 2,955 production personnel, 1,027 technical personnel, 239 financial personnel, and 127 sales personnel[187]. - The company has established a salary management mechanism that links employee compensation closely with company performance and job responsibilities[191]. - The company has a comprehensive training plan covering various areas, including production technology and leadership[192]. - The current management team includes General Manager Bai Yang, appointed on July 28, 2021, and Deputy General Manager Liang Li, appointed on January 21, 2022[126]. Investor Relations and Communication - The company has a dedicated investor relations team to manage communications and disclosures[25]. - The first extraordinary general meeting of 2021 had an investor participation rate of 71.57%[119]. - The annual general meeting for 2020 had an investor participation rate of 66.62%[119]. - The second extraordinary general meeting of 2021 had an investor participation rate of 70.31%[119]. - The third extraordinary general meeting of 2021 had an investor participation rate of 70.93%[119]. - The fourth extraordinary general meeting of 2021 had an investor participation rate of 66.59%[119]. Future Outlook and Development Plans - The company has outlined a future outlook with a revenue growth target of 15% for the next fiscal year[154]. - The company is investing in new product development, with a budget allocation of 50 million CNY for R&D in the upcoming year[154]. - The company plans to expand its market presence by entering three new provinces in the next fiscal year[154]. - The company is focusing on technological advancements, with plans to integrate AI solutions into its service delivery by the end of the next fiscal year[154]. - The company plans to develop 40 core courses and conduct 20 skill training sessions to strengthen its talent pool[105].