Financial Performance - Revenue for 2021 was US$1,151,764,000, representing a significant increase from US$712,209,000 in 2020, marking a growth of approximately 62%[17] - Profit attributable to owners of the company for 2021 was US$186,802,000, compared to a loss of US$110,230,000 in 2020, indicating a turnaround in profitability[17] - Basic earnings per share for 2021 were 7.73 US cents, a substantial improvement from a loss per share of 4.56 US cents in the previous year[17] - The Group's revenue for the year ended December 31, 2021, was US$1,151,764,000[23] - Consolidated profit attributable to owners of the Company reached US$186,802,000, compared to US$4,576,000 in 2020, marking an increase of about 3,947%[35] - The manufacturing segment generated revenue of US$1,117,195,000, accounting for 97% of the Group's total revenue, up from US$246,677,000 in 2020[37] - The logistics operation recorded revenue of US$34,569,000, an increase from US$27,628,000 in 2020, with segment profit before taxation amounting to US$5,851,000[50] - The Group reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[149] Financial Health and Ratios - The company's net asset value per share increased to 27.98 US cents in 2021, up from 20.58 US cents in 2020[17] - The current ratio stood at 3.17, indicating strong liquidity compared to the benchmark of 1[17] - Return on equity for 2021 was 27.6%, reflecting effective management of shareholder equity[17] - Bank balances and cash totaled US$438,171,000, providing a solid financial cushion for operations[17] - The interest coverage ratio was reported at 268.9, demonstrating robust earnings relative to interest expenses[23] - The Group's financial health remains strong, with bank balances and cash amounting to US$438,171,000 as of year-end 2021, compared to US$48,787,000 in 2020[35] Market and Product Development - The company is focused on expanding its market presence and enhancing its product offerings through continuous innovation[11] - The average selling price (ASP) of dry freight containers increased significantly due to global supply chain disruptions[31] - The Group anticipates stable demand for dry freight containers in 2022 as global supply chain disruptions ease, with ASPs starting to retreat in Q4 2021[52] - The customised container business is expected to grow, driven by renewable energy-related containers, with increased resources allocated to R&D and business development[57] - A new facility in Shanghai commenced operations in Q4 2021 to increase production capacity in response to rising demand for customised containers[48] - The Group expects container demand to rise again with new container vessel deliveries anticipated around 2023 and 2024[76] Corporate Governance - The company has consistently adopted and complied with the applicable code provisions of the Corporate Governance Code for the year ended December 31, 2021[129] - Mr. Teo Siong Seng serves as both Chairman and Chief Executive Officer, which the Board believes provides strong and consistent leadership[130] - The company aims to maintain high standards of corporate governance practices to enhance accountability and transparency[132] - The Board is collectively responsible for directing and supervising the company's affairs[137] - The company has a structured approach to reviewing the contributions of its directors to ensure they are fulfilling their responsibilities[137] - The company has a clear governance structure, with no indication of non-compliance with the code provisions during the year[131] Board Composition and Meetings - The Board comprises two executive directors, three non-executive directors, and three independent non-executive directors[138] - The Board held six meetings in 2021, with all directors attending all meetings[138] - All directors are given an opportunity to include matters in the agenda for regular board meetings[140] - The Company Secretary is responsible for taking minutes of the Board and its committees[140] - The company has arranged appropriate Directors and Officers Liability insurance coverage for its Directors and officers[145] Remuneration and Performance - The remuneration of Directors and senior management is determined based on individual performance and the profitability of the Company during the year[191] - The Board has established a Remuneration Committee to recommend the Company's remuneration policy and structure for all Directors and senior management[191] - The Remuneration Committee reviewed and approved the salary adjustment of the Company's executive Directors and senior management staff[193] - The Company disclosed details of remuneration payable to members of senior management in the annual reports[196] Strategic Initiatives - The company is investing $30 million in research and development to enhance its logistics technology[108] - Market expansion efforts include entering three new countries, aiming for a 25% increase in market share in those regions[108] - The company is exploring potential acquisitions to strengthen its supply chain, with a budget of $100 million allocated for this purpose[108] - A new strategic partnership has been formed with a leading shipping firm to enhance operational efficiency[108]
胜狮货柜(00716) - 2021 - 年度财报