BGT(300774)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was CNY 712,769,872.44, representing a 22.78% increase compared to CNY 580,530,378.99 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 174,421,845.73, up 16.75% from CNY 149,400,343.66 in 2020[17]. - The net profit after deducting non-recurring gains and losses was CNY 166,227,323.41, reflecting a 21.44% increase from CNY 136,883,189.28 in 2020[17]. - The total assets at the end of 2021 amounted to CNY 1,992,873,198.21, a 20.89% increase from CNY 1,648,538,208.50 at the end of 2020[17]. - The net assets attributable to shareholders increased by 28.84% to CNY 1,437,943,966.25 from CNY 1,116,089,383.49 in 2020[17]. - The basic earnings per share for 2021 were CNY 0.45, a 9.76% increase from CNY 0.41 in 2020[17]. - The weighted average return on net assets was 14.49%, slightly up from 14.01% in 2020[17]. - The net cash flow from operating activities was negative CNY 92,487,262.76, a significant decrease of 167.12% compared to CNY 137,802,015.48 in 2020[17]. - The company achieved operating revenue of 712.77 million yuan, an increase of 22.78% compared to the previous year, and a net profit attributable to shareholders of 174.42 million yuan, up 16.75% year-on-year[56]. - Total assets reached 1.99 billion yuan, growing by 20.89% year-on-year, while net assets attributable to shareholders increased by 28.84% to 1.44 billion yuan[56]. Cash Flow and Investments - The operational management contracts typically last between 1 to 3 years, while investment projects under BOT and PPP models can span 5 to 30 years[43]. - Operating cash inflow totaled ¥579,413,629.11, a 14.84% increase year-over-year, while cash outflow surged by 83.21% to ¥671,900,891.87, resulting in a net cash flow deficit of ¥92,487,262.76[81]. - Investment activities generated a net cash outflow of ¥512,421,350.79, a significant decrease of 571.63% compared to the previous year[82]. - Financing activities saw a substantial increase in cash inflow to ¥146,963,049.53, up 1,030.41% from ¥13,000,868.33 in 2020, primarily due to IPO fundraising[82]. - The company's cash and cash equivalents decreased by ¥457,945,564.02, marking a 321.93% decline from the previous year[82]. - The company reported an investment amount of CNY 153,800,950.91 for the current period, representing a 169.74% increase compared to CNY 57,017,887.61 in the same period last year[94]. - The company has completed investments in two projects, with one project in Inner Mongolia having an investment of CNY 39.20 million and another project with an investment of CNY 960.0 million[94]. Market Position and Strategy - The company is positioned in the wastewater resource utilization and deep treatment industry, which is supported by national policies aimed at improving water environment governance[28]. - The company aims to enhance its market presence by leveraging its proprietary technologies for high-salinity wastewater treatment and efficient reuse processes[32]. - The industrial wastewater recycling implementation plan aims for a 94% reuse rate by 2025, indicating a growing market opportunity for the company[31]. - The company has a focus on expanding its operations in line with national strategies for ecological civilization and carbon neutrality[30]. - The company is expanding into new markets such as hydrogen energy and photovoltaic sectors, aiming for sustainable growth and technological leadership in industrial wastewater treatment[34]. - The company plans to continue expanding into new markets such as hydrogen energy and photovoltaic sectors, aiming for sustainable growth[56]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach[139]. Research and Development - The company reported a total of 40 invention patents and 95 utility model patents, highlighting its commitment to research and development[32]. - The company has a strong focus on R&D, with over 100 technical team members, accounting for 25.94% of total staff, and has applied for 13 new invention patents in 2021[57]. - The total R&D investment in 2021 was ¥19,883,037.61, representing 2.79% of operating revenue, a slight decrease from 2.93% in 2020[79]. - The number of R&D personnel increased to 117, up by 18.18% from 99 in the previous year, with a higher proportion of master's degree holders increasing by 36.36%[79]. - The company is developing wastewater treatment technologies aimed at achieving zero discharge, with ongoing pilot projects for industrial wastewater treatment[77]. - The company has completed technical validation for various wastewater treatment technologies, including ozone oxidation and membrane concentration techniques, to enhance industrial wastewater processing[78]. Governance and Compliance - The company is committed to improving governance and transparency, ensuring compliance with regulatory requirements to protect investor interests[60]. - The company has established a comprehensive internal control system, with no significant deficiencies reported during the period[164]. - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, by continuously improving corporate governance and internal control systems[173]. - The company has established a transparent performance evaluation and incentive mechanism for senior management[121]. - The company maintains complete operational independence from its controlling shareholders, ensuring independent decision-making and self-sustaining operations across procurement, production, sales, and R&D[122]. - The company has established a fully independent asset structure, including production systems, land use rights, and equipment, with clear ownership separation from shareholders[123]. Environmental Responsibility - The company has established and operated pollution prevention facilities, achieving compliance with national standards for wastewater discharge[171]. - The company is classified as a key pollutant discharge unit by environmental protection authorities, highlighting its commitment to environmental responsibility[171]. - The company has developed emergency response plans for environmental incidents, outlining procedures and measures for effective management[176]. - The company has implemented self-monitoring schemes for environmental compliance, in line with national standards[176]. - There were no administrative penalties due to environmental issues during the reporting period[176]. Employee and Management - The company has a total of 451 employees, with 255 in production, 130 in technical roles, and 31 in sales[158]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 582.97 million[145]. - The company has focused on enhancing employee satisfaction and providing more promotion opportunities as part of its compensation policy[159]. - The company has a stable management team with no significant changes in shareholding among key executives[127][128]. Future Outlook - The company provided guidance for 2022, projecting a revenue growth of 20% to 1.8 billion[191]. - New product launches included a flagship product that contributed 200 million in sales within the first quarter of its release[191]. - The company plans to invest 100 million in R&D for new technologies aimed at enhancing user experience[191]. - The company is committed to sustainability initiatives, with plans to reduce carbon emissions by 15% by 2025 as part of its corporate social responsibility strategy[181].