Financial Performance - The company achieved a net profit attributable to shareholders of RMB 6,925 million in 2021, a 250.10% increase from RMB 1,978 million in 2020[22]. - Operating revenue for 2021 was RMB 136,674 million, representing a 35.45% increase compared to RMB 100,903 million in 2020[15]. - The basic earnings per share for 2021 was RMB 0.736, up 250.48% from RMB 0.210 in 2020[15]. - The total assets increased by 10.77% to RMB 97,526 million at the end of 2021, compared to RMB 88,046 million at the end of 2020[16]. - The total liabilities rose by 9.20% to RMB 37,334 million at the end of 2021, compared to RMB 34,188 million at the end of 2020[16]. - The net cash flow from operating activities for 2021 was RMB 12,846 million, a 29.55% increase from RMB 9,916 million in 2020[15]. - The company reported a diluted earnings per share of RMB 0.720 for 2021, an increase of 263.64% from RMB 0.198 in 2020[15]. - The weighted average return on equity increased to 12.26% in 2021, up 8.52 percentage points from 3.74% in 2020[15]. - The company reported a total share capital of 9,403,020,451 shares as of March 30, 2022[17]. - The total profit amounted to RMB 8,920 million, reflecting a significant increase of 271.20% year-on-year[34]. Shareholder Returns - The board proposed a cash dividend of RMB 2.21 per 10 shares, totaling RMB 2,078 million, which accounts for approximately 30% of the net profit attributable to shareholders[23]. - The company plans to maintain a stable profit distribution policy, ensuring that cash dividends are no less than 10% of the distributable profits each year[48]. - The total share capital of the company is 9,403,020,451 shares, with 9,402,611,828 shares eligible for profit distribution after accounting for treasury shares[23]. Corporate Governance - The company’s governance structure includes a board of directors and a supervisory board, ensuring compliance and accountability[6]. - The company’s chairman, Wang Yidong, and accounting personnel guarantee the accuracy and completeness of the financial report[6]. - The company emphasizes compliance with tax regulations, including a 10% withholding tax on dividends for non-resident corporate shareholders[24]. - The company has a structured governance with clear roles for independent directors and supervisors, ensuring compliance and strategic oversight[176]. - The board includes members with diverse backgrounds in law, finance, and engineering, enhancing the company's decision-making capabilities[176]. Environmental and Social Responsibility - The company emphasizes its commitment to environmental and social responsibility in its operations[6]. - The company invested RMB 21.2 billion in 74 ultra-low emission transformation projects, significantly enhancing its environmental performance[36]. - The company reported zero major environmental pollution incidents in 2021, achieving 100% compliance in environmental project execution rates[36]. - The company has established a robust environmental management system, achieving advanced domestic standards in energy efficiency and emissions reduction, and was recognized as a "Clean Production Environmentally Friendly Enterprise" in 2020[143]. Market Position and Industry Trends - The global crude steel production reached 1.95 billion tons in 2021, an increase of 3.7% year-on-year, marking a historical high[26]. - China's crude steel production for 2021 was 1.03 billion tons, a decrease of 3.0% year-on-year, due to the implementation of dual control policies on production capacity and output[26]. - The steel industry is expected to focus on structural adjustments, green development, and low-carbon initiatives as part of China's "14th Five-Year Plan" and carbon neutrality goals[26]. - The company produced 25.35 million tons of iron, a decrease of 2.01% year-on-year, and 26.47 million tons of steel, a decrease of 0.04% year-on-year[34]. - Steel sales reached 24.40 million tons, a slight decrease of 0.85%, achieving a steel sales rate of 98.39%[34]. Research and Development - The company completed 26 national R&D tasks during the 13th Five-Year Plan, enhancing its technological innovation capabilities[28]. - Research and development expenses increased by 53.48% to RMB 640 million from RMB 417 million in the previous year, indicating a focus on new product development[76]. - The company has developed advanced technologies in steel production, achieving breakthroughs in high-strength, low-temperature marine steel, and has successfully replaced imports with domestically produced products[140]. - The company has achieved a production capacity of 240,000 tons per year for high-aluminum zinc magnesium steel plates, improving corrosion resistance by 50% compared to traditional galvanized steel[105]. Risk Management - The company has implemented risk control measures for futures hedging, including regular market analysis and compliance with hedging regulations, ensuring controllable risks[129]. - The company has established a detailed management approach for foreign exchange derivative transactions, including principles, conditions, and approval processes[130]. - The company is actively assessing risks for 2022, focusing on potential impacts from global economic recovery, inflation, and commodity price fluctuations, while maintaining a positive long-term economic outlook[144]. - The company faces significant risks from the ongoing COVID-19 pandemic, with domestic and international outbreaks impacting economic recovery[145]. Leadership Changes - Mr. Mu Tiejian resigned as the chairman of the supervisory board due to retirement on November 26, 2021[161]. - Ms. Chen Chun resigned from her positions as co-secretary of the board and co-company secretary due to job changes on November 30, 2021[162]. - Mr. Li Zhendong resigned as a director and general manager on November 19, 2021, due to job changes[162]. - Mr. Wang Baojun was appointed as the deputy general manager and chief accountant on March 16, 2021[164]. - Mr. Xu Shishuai was appointed as the general manager on November 19, 2021[164].
鞍钢股份(00347) - 2021 - 年度财报