Financial Performance - For the year ended December 31, 2021, revenue reached RMB 9,566,382, representing a 30.2% increase from RMB 7,344,747 in 2020[3] - Profit attributable to equity holders of the Company was RMB 462,498, an 18.8% increase compared to RMB 389,388 in 2020[3] - Earnings per share increased to RMB 0.415, up 20.3% from RMB 0.345 in the previous year[3] - The Group achieved record highs in both sales revenue and net profit, with sales revenue increasing by 30.2% year-on-year[29] - The Group's revenue for the year ended December 31, 2021, was approximately RMB9,566 million, representing a year-on-year increase of approximately 30.2% from RMB7,345 million in 2020[75] - Net profit for the same period was approximately RMB473 million, an increase of approximately 20.2% compared to RMB394 million in 2020[76] Sales Revenue by Segment - The Group's aluminium packaging business achieved a sales revenue of approximately RMB4,463 million in 2021, representing a 43.7% increase from RMB3,107 million in 2020, accounting for 46.7% of overall sales[55] - The two-piece can business generated sales revenue of approximately RMB4,288 million in 2021, a 45.5% increase from RMB2,948 million in 2020[56] - The tinplate packaging business recorded sales revenue of approximately RMB4,461 million in 2021, up 21.9% from RMB3,660 million in 2020, accounting for 46.6% of overall sales[59] - The steel barrels segment saw sales revenue of approximately RMB1,427 million in 2021, marking a 49.0% increase from RMB958 million in 2020[61] - The milk powder can business generated sales revenue of approximately RMB737 million in 2021, an 8.7% increase from RMB678 million in 2020[62] - The aerosol cans segment achieved sales revenue of approximately RMB617 million in 2021, representing a 28.0% increase from RMB482 million in 2020[63] - The sales revenue from the plastic packaging business was approximately RMB642 million in 2021, a year-on-year increase of approximately 11.1%[70] Production and Capacity Expansion - CPMC launched the second production line of the Tianjin can-making project in April 2021, enhancing production capacity[23] - The Group is expanding its production capacity with new sites launched in Tianjin and Wuhan, and a new plant in Kunming under construction[40] - The Group is focusing on technological innovation, introducing high-speed packaging production lines and advanced testing equipment to enhance automation[44] Strategic Initiatives and Collaborations - A strategic cooperation agreement was signed with Blue Moon in August 2021 to deepen collaboration in sustainable development and R&D[25] - A strategic cooperation agreement was reached with Blue Moon, successfully bidding for the second phase of the Blue Moon project in Chongqing[43] - The Group's strategic initiatives include enhancing refined management and credit risk control to secure raw material supply[38] Risk Management and Governance - The Group's risk management framework was reviewed, focusing on major risks such as credit risk and market risk[160] - The Board assessed the effectiveness of the Group's risk management and internal control systems during the financial year ended December 31, 2021, and found them to be adequate and effective[171] - The Audit Committee monitored the effectiveness of the Group's risk management and internal control systems throughout the year[164] Shareholder Communication and Governance - The Board recognized the importance of effective communication with shareholders and investors to build confidence and attract new investors[176] - The Company emphasizes regular communication with institutional shareholders through meetings and presentations during financial results announcements[180] - The Company is committed to transparency by updating its website regularly and disclosing information in a timely manner[180] - The Company will hold its annual general meeting on May 30, 2022, providing shareholders the opportunity to communicate directly with the Board and management[177] Financial Ratios and Expenditures - The Group's capital expenditure for the year was approximately RMB678 million, with the two-piece cans project accounting for approximately 44.6% of this expenditure[85] - The Group's gearing ratio improved to approximately 41.9% as of December 31, 2021, down from approximately 44.5% in 2020[84] - The effective income tax rate decreased to approximately 16.4% in 2021 from approximately 22.3% in 2020[78] Employee Costs - The total staff cost for the Group increased to approximately RMB769 million in 2021 from RMB646 million in 2020[88] Audit and Compliance - The total auditor's remuneration for Baker Tilly Hong Kong Limited for the year ended December 31, 2021, was RMB 2,400,000, comprising RMB 1,700,000 for audit services and RMB 700,000 for non-audit services[174] - The Audit Committee held 3 meetings during the year ended 31 December 2021, with full attendance from its members[136] - The Company Secretary ensures that all Directors receive adequate and timely information for decision-making[121]
中粮包装(00906) - 2021 - 年度财报