GHEC(002060)2022-03-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥14,361,313,764.35, an increase of 14.13% compared to ¥12,583,024,873.89 in 2020[11]. - The net profit attributable to shareholders for 2021 was ¥328,023,483.40, representing a growth of 24.45% from ¥263,578,185.52 in 2020[11]. - The basic earnings per share for 2021 was ¥0.2728, up 24.45% from ¥0.2192 in 2020[12]. - Total assets at the end of 2021 reached ¥31,732,321,919.56, a 7.60% increase from ¥29,491,657,758.56 at the end of 2020[12]. - The company's total operating revenue for the year reached CNY 14,361,313,764, an increase from CNY 12,745,740,798 in the previous year[52]. - Net profit attributable to shareholders was CNY 328 million, up 24.45% from the previous year[45]. - The engineering construction segment contributed CNY 11.533 billion, accounting for 80.30% of total revenue, with a growth of 20.10%[49]. - The company's other business revenue increased by 85.25% year-on-year, primarily due to an increase in equipment leasing business[53]. - The company achieved a total revenue of 1.2 billion RMB for the fiscal year 2021, representing a year-over-year increase of 15%[123]. - The company reported a significant increase in revenue, achieving a total of 10 billion RMB for the year, representing a growth of 15% compared to the previous year[127]. Dividend Distribution - The company plans to distribute a cash dividend of 0.78 RMB per 10 shares to all shareholders, based on a total of 1,202,262,058 shares[1]. - The board of directors approved a dividend payout of 0.5 RMB per share, reflecting a commitment to returning value to shareholders[123]. - The board of directors approved a dividend payout of 1.5 billion RMB, representing a 10% increase from the previous year, reflecting confidence in future earnings[127]. - The cash dividend amount distributed is fully compliant with the profit distribution total[150]. - The remaining undistributed profit after the dividend distribution is 1,027,886,504.23 CNY[151]. Business Strategy and Expansion - The company plans to strengthen its core engineering construction business and actively expand its clean energy investment and equipment manufacturing sectors[20]. - The company aims to increase the share of non-fossil energy in total energy consumption to around 20% by 2025[25]. - The company plans to invest approximately 20,020 million RMB in major transportation infrastructure projects during the 14th Five-Year Plan, with 8,800 million RMB allocated specifically for rail transit[24]. - The company is actively expanding its clean energy projects, focusing on wind and solar power development in various regions[26]. - The company is focusing on clean energy generation projects and PPP projects, following the investment plan set in 2021[96]. - The company is expanding its clean energy business by establishing multiple subsidiaries focused on renewable energy projects, enhancing operational profits[90]. - The company aims to increase its clean energy capacity by 1.2 million kilowatts in 2022, focusing on large-scale solar and wind energy projects[95]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[123]. Research and Development - The company has accumulated 92 valid invention patents and 188 valid utility model patents, enhancing its competitive edge in engineering construction[30]. - R&D investment amounted to ¥496,188,779.89 in 2021, an increase of 19.92% compared to ¥413,767,249.05 in 2020[70]. - The number of R&D personnel increased by 5.40% to 664, with the proportion of R&D personnel in the total workforce rising to 15.88%[68]. - The company plans to enhance its technology level and market competitiveness through ongoing R&D projects, including key technologies for deep vertical transportation in complex geological conditions[67]. Market Position and Competitive Advantage - The company is positioned as a leading enterprise in regional water conservancy and hydropower engineering construction, with significant brand influence in Guangdong, Sichuan, and Hunan[27]. - The company has a strong market position in clean energy equipment manufacturing, with an annual production capacity of about 220,000 tons[31]. - The company maintained its position as the largest wind power tower manufacturer in Guangdong and entered the photovoltaic bracket manufacturing market[47]. - The company has established a dedicated engineering technology research institute focused on new technology application and innovation[113]. Governance and Compliance - The company has established an independent financial accounting department and a financial management system, ensuring no shared bank accounts with shareholders[109]. - The company has a total of 11 board members, including 4 independent directors, complying with legal requirements regarding board composition[104]. - The company has implemented a performance evaluation and incentive system linking management compensation to business performance[105]. - The company has maintained a governance structure that aligns with the requirements of the Company Law and Securities Law, ensuring proper operation and decision-making[103]. - The company has not reported any significant discrepancies between its governance practices and regulatory requirements[106]. Environmental and Social Responsibility - The company has established a safety and environmental protection department to oversee green construction practices and has not faced any administrative penalties for environmental issues[161]. - The company has implemented measures to reduce carbon emissions through green construction, focusing on resource conservation and minimizing negative environmental impacts[162]. - The company actively engages in environmental protection, achieving the "Four Savings and One Environmental Protection" goals without any government penalties for many years[172]. - The company donated a total of 5.9447 million yuan for poverty alleviation and assistance programs in 2021[174]. - The company has actively participated in social welfare activities, including donations to impoverished students and community support initiatives[173]. Risks and Challenges - The company faces significant risks including policy changes affecting infrastructure and clean energy, intense market competition, and investment risks associated with large-scale projects[97]. - The company has committed to minimizing related party transactions with the parent company, ensuring fair and reasonable pricing in any unavoidable transactions[179]. - The company has reiterated its commitment to maintaining a complete and independent organizational structure[178].