Financial Performance - The total revenue for the year 2020 was RMB 4,477,490,000, with a gross profit of RMB 3,647,183,000 and a net profit of RMB 146,712,000[10]. - Basic and diluted earnings per share for 2020 were both RMB 0.0898[11]. - The company recorded revenue of approximately RMB 3,647,183,000 in 2020, an increase of 107.15% or RMB 1,886,559,000 compared to 2019[24]. - Revenue from the oil and gas equipment engineering and integrated services increased by 75.99% or RMB 1,228,267,000, primarily due to the peak construction period of the natural gas chemical module project[24]. - Revenue from the new energy and refining equipment engineering and integrated services surged by 516.00% or RMB 652,640,000, mainly contributed by offshore wind power equipment projects[24]. - The company's gross profit for 2020 was approximately RMB 447,749,000, a 39.79% increase from RMB 320,294,000 in 2019[29]. - The overall gross margin decreased from 18.19% in 2019 to 12.28% in 2020, attributed to lower margins on certain projects[29]. - The profit attributable to owners for 2020 was approximately RMB 146,712,000, an increase of 3,216.27% compared to RMB 4,424,000 in 2019[34]. Dividends and Shareholder Information - The board proposed a final dividend of HKD 0.22 per share for the year ended December 31, 2020[12]. - As of December 31, 2020, the company had a share premium reserve of approximately RMB 1,733,618,000 and retained earnings available for distribution to shareholders of approximately RMB 7,103,000[74]. - The company has no predetermined dividend payout ratio, and the board will review the dividend policy periodically[75]. - The company proposed a final dividend of HKD 0.22 per share for the year ended December 31, 2020, subject to shareholder approval at the upcoming annual general meeting[78]. - As of December 31, 2020, the company's issued share capital consisted of 1,634,016,389 ordinary shares, unchanged from 2019[80]. Operational Achievements - The company achieved a 100% on-time delivery rate for 17 completed projects out of 22 operational projects in 2020[15]. - The company completed over 97% of the overall progress for the GCGV gas chemical plant module construction project by the end of 2020[16]. - The company received a large order to supply 50 sets of offshore wind power equipment for a European offshore wind farm project, with a total contract value exceeding RMB 2 billion[15]. - The company maintained over 28 million safe working hours in 2020, achieving zero accident frequency and severity at the Penglai site[18]. - The company is actively transitioning towards clean energy and refining sectors, leveraging its strengths in marine engineering modules[15]. Cost and Expenses - The sales and service costs for 2020 amounted to approximately RMB 3,199,434,000, an increase of 122.13% or RMB 1,759,104,000 compared to 2019[26]. - Administrative and other operating expenses increased by 1.29% or RMB 3,359,000 to approximately RMB 263,211,000 in 2020[32]. - The financial expenses for 2020 totaled approximately RMB 34,122,000, primarily consisting of bank loan interest of about RMB 27,031,000[33]. Assets and Liabilities - As of December 31, 2020, the group's total assets amounted to approximately RMB 2,249,345,000, an increase from RMB 2,150,993,000 in 2019[36]. - The capital debt ratio decreased to 23.10% in 2020 from 31.71% in 2019, primarily due to a reduction in bank and other loans[47]. - The net value of non-current assets was approximately RMB 1,787,180,000 as of December 31, 2020, compared to RMB 1,716,353,000 in 2019[36]. Employee and Management Information - The total number of employees increased to 3,568 as of December 31, 2020, up from 3,172 in 2019[48]. - The company has a strong management team with extensive experience in the oil and gas industry, including executives with backgrounds in engineering and finance[59]. - The management team includes professionals with advanced degrees in business administration and engineering, indicating a strong educational background[59]. - The company emphasizes the importance of employee welfare, offering reasonable compensation and benefits, and implementing various training programs to support long-term development[65]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and transparency in its operations[62]. - The company has appointed several independent non-executive directors with significant experience in finance and accounting, enhancing corporate governance[55][56]. - The board consists of six executive directors and three independent non-executive directors, ensuring a balanced governance structure[151]. - The company has adopted the Corporate Governance Code to enhance transparency and protect shareholder interests[147]. Risk Management and Compliance - The company has established a comprehensive internal management system to manage risks and ensure compliance[162]. - The board is responsible for reviewing the effectiveness of the risk management and internal control systems[162]. - The audit committee held two meetings during the year to review and discuss the company's consolidated financial reports and the effectiveness of risk management and internal control systems[166]. - The company is committed to timely and accurate disclosure of inside information as per the Securities and Futures Ordinance and Listing Rules[164]. Related Party Transactions - The company has complied with the disclosure requirements under the Listing Rules regarding related party transactions[137]. - The independent non-executive directors confirmed that the ongoing related party transactions were conducted in the ordinary course of business and on normal commercial terms[139]. - The external auditor reported no issues regarding the ongoing related party transactions not being approved by the board or not following the group's pricing policy[140]. Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2020[184]. - Key audit matters identified included goodwill impairment assessment and revenue recognition for construction contracts[186]. - The audit committee recommended the reappointment of the external auditor for the fiscal year 2021[168].
巨涛海洋石油服务(03303) - 2020 - 年度财报