Financial Performance - The Group's revenue for the year ended December 31, 2021, was HK$7,075,818, representing a 77% increase compared to HK$3,996,951 in 2020[13] - Gross profit increased to HK$4,394,574, a 135% rise from HK$1,869,207 in the previous year, with a gross profit margin of 62%[13] - Profit for the year reached HK$3,060,831, marking a 158% increase from HK$1,187,283 in 2020[13] - EBITDA for 2021 was HK$4,735,627, up 117% from HK$2,178,672 in 2020[13] - Basic earnings per share rose to 50.25 HK cents, a 144% increase from 20.62 HK cents in 2020[13] - The Group achieved a record profit for the year 2021, with profit attributable to owners reaching HK$2,538,495, representing a 135% increase YoY[21] - The Group recorded a net profit of approximately HK$3,061 million, representing a significant increase of 158% YoY, with profit attributable to the owners of approximately HK$2,538 million, up 135% YoY[67][68] - Gross profit surged by approximately HK$2,526 million or 135% YoY, leading to a gross profit margin of 62%, compared to 47% in the previous year[68][82] Assets and Liabilities - Total assets as of December 31, 2021, were HK$24,779,977, reflecting a 16% increase from HK$21,433,646 in 2020[14] - Total liabilities increased to HK$5,631,759, a 36% rise from HK$4,142,576 in 2020[14] - Total equity attributable to owners was HK$17,300,083, up 9% from HK$15,837,166 in 2020[14] - The Group's current ratio improved to 3.42 times, while the gearing ratio remained stable at 0[14] - As of 31 December 2021, the Group had no borrowings, resulting in a gearing ratio of 0%[106] - The Group maintained free bank balances and cash of approximately HK$6,426 million, a significant increase from approximately HK$4,062 million in the previous year[70] Production and Sales - Raw coking coal production for 2021 was 5.17 million tonnes, an increase of 4% YoY, while sales volume of clean coking coal reached 3.3 million tonnes, up 1% YoY[41] - The average selling price of the Group's main clean coking coal product was RMB2,019 per tonne, reflecting a significant increase of 66% YoY[41] - The production volume of clean coking coal was approximately 3.20 million tonnes, showing a slight decrease of 1% year-on-year[55] - The average realized selling price of clean coking coal increased by 66% year-on-year to RMB 2,019 per tonne, compared to RMB 1,218 per tonne in the previous year[59] - The Group produced approximately 5.17 million tons of raw coking coal in 2021, representing a year-on-year increase of 4%[125] Market Conditions - The average market price for thermal and coking coal in 2021 was 70% to 80% higher YoY due to tight supply and increased demand[40] - The overall average price of coal increased by approximately 70-80% year-on-year, despite a significant drop in prices following government intervention in October 2021[42] - Domestic coking coal prices reached historical highs in 2021, with a significant year-on-year increase, despite a subsequent price drop due to government supply stabilization policies[149] - Coking coal imports fell by 25% YoY due to the impact of the pandemic and geopolitics[148] Dividends and Shareholder Returns - The Board of Directors recommended a final dividend of 32 Hong Kong cents per ordinary share for 2021[47] - Basic earnings per share increased to HK50.25 cents, a significant rise of 144% YoY, due to the increase in profit attributable to the owners and a 4% reduction in the weighted average number of issued shares[68] ESG and Sustainability - The Group is committed to enhancing sustainable business practices and establishing a comprehensive ESG work mechanism to create long-term stable social, environmental, and enterprise value[164] - The Board of Directors is responsible for the Group's ESG strategy and reporting, with the Audit Committee overseeing ESG management policies and strategies[166] - The Group aims to create harmony between society and the environment while promoting sustainable development for all stakeholders[171] - The Group conducted online questionnaire surveys in 2021 to prioritize selected ESG issues based on stakeholder importance[195] - The Group regularly reviews the material issues matrix to ensure its timeliness and appropriateness, adjusting the importance of certain issues as needed[196] Operational Efficiency - The Group plans to continue improving production safety and efficiency while closely monitoring market trends in 2022[46] - The Group aims to enhance production management and cost control to improve profitability and create better value for shareholders[144] - The Group plans to enhance production safety and introduce cutting-edge mining technology to improve efficiency and contribute to sustainable development[155]
首钢资源(00639) - 2021 - 年度财报