Financial Performance - The company reported a total revenue of HK$243 million for the year, with a significant increase compared to the previous year[9]. - The company's revenue for 2021 was RMB 387,389,000, representing a 35.3% increase from RMB 286,341,000 in 2020[17]. - For the financial year 2021, the Group recorded total revenue of approximately RMB 387.4 million, representing an increase of 35.3% compared to RMB 286.3 million in 2020[30]. - The net profit for 2021 was RMB 41,255,000, a significant recovery from a net loss of RMB 537,364,000 in 2020[17]. - The net profit for the Reporting Period was approximately RMB 41.3 million, a significant recovery from a net loss of approximately RMB 537.4 million in 2020[46]. - The Group achieved a gross profit of approximately RMB 34.9 million in 2021, compared to a gross loss in 2020[30]. - The profit attributable to owners of the company was RMB 22,593,000 in 2021, compared to a loss of RMB 526,583,000 in 2020[17]. - The Group's operating cost increased by about 6.8%, from approximately RMB329.9 million in 2020 to approximately RMB352.5 million in 2021[42]. Future Outlook and Growth Strategies - Future outlook includes an expected revenue growth of 20% for the next fiscal year, driven by new project acquisitions[2]. - Market expansion plans include entering two new provinces in China by the end of the next fiscal year[2]. - The company is considering strategic acquisitions to enhance its service offerings and market presence[2]. - The Group aims to leverage opportunities from the rapid development of China's offshore wind power industry to participate in more wind power construction projects[31]. - The Group plans to stabilize projects, teams, and management systems as a top priority for the upcoming year[31]. Operational Efficiency and Investments - The company is investing in new technology development, with a budget allocation of HK$50 million for R&D initiatives[2]. - The company plans to enhance its operational efficiency by implementing advanced dredging technologies[2]. - The Group invested RMB 230 million in a 2,300-ton self-propelled fixed-crane vessel to capitalize on the rapid development of marine wind power constructions in mainland China[59]. Corporate Governance and Management - The board emphasized the importance of corporate governance and compliance with the latest regulations[2]. - The company has a strong governance structure with independent non-executive directors contributing to strategic oversight[92]. - The Company has complied with all applicable code provisions under the Corporate Governance Code[113]. - The Board is committed to maintaining good corporate governance practices and procedures[112]. - The Company has established a remuneration committee responsible for reviewing the remuneration policy and structure for Directors and senior management, with no changes proposed during the Review Period[146][148]. Risk Management and Internal Controls - The risk management and internal control systems are designed to safeguard the Group's assets and ensure compliance with relevant regulations, although they can only provide reasonable assurance against material misstatement or loss[186]. - The Group's internal control systems are reviewed at least annually to ensure their effectiveness in managing risks[185]. - The Audit Committee reviewed key risk management and internal control issues identified by the external auditor, concluding that the systems are reasonably and adequately implemented with room for improvement[192]. Employee and Operational Insights - As of December 31, 2021, the Group had 522 employees, an increase from 454 in 2020, with total staff costs amounting to approximately RMB 56.7 million[68]. - The ongoing impact of COVID-19 has caused significant disruptions, including delays in project schedules and increased construction costs[30]. - The construction efficiency of various projects has decreased due to the pandemic, posing risks and pressures on the Group's operations[30]. Shareholder Communication and Meetings - The annual general meeting for the year ended December 31, 2020, was held on June 17, 2021, providing a platform for direct communication between the Board and Shareholders[199]. - The Company communicates with Shareholders through annual reports, interim reports, and statutory announcements[194]. - Resolutions at general meetings are taken by poll, with results posted on the Stock Exchange and Company's websites on the same day[199].
中国疏浚环保(00871) - 2021 - 年度财报