Financial Performance - In 2021, Dongfang Electric achieved total operating revenue of RMB 47.819 billion, a year-on-year increase of 28.26%, marking a historical high[19]. - The total profit for the year was RMB 2.667 billion, reflecting a year-on-year growth of 29.02%[19]. - The net profit attributable to the parent company was RMB 2.289 billion, with a proposed cash dividend of RMB 2.30 per 10 shares, totaling RMB 717.37 million[19]. - Total operating revenue for 2021 reached ¥47.82 billion, an increase of 28.26% compared to ¥37.28 billion in 2020[30]. - Net profit attributable to shareholders was ¥2.29 billion, up 22.93% from ¥1.86 billion in 2020[30]. - Basic earnings per share increased by 21.67% to ¥0.73, compared to ¥0.60 in 2020[31]. - The net cash flow from operating activities showed a net outflow of ¥4.42 billion, worsening from a net outflow of ¥2.75 billion in 2020[30]. - The company's total assets increased by 5.43% to ¥103.10 billion from ¥97.80 billion in 2020[30]. - The weighted average return on net assets rose to 7.20%, an increase of 1.01 percentage points from 6.19% in 2020[31]. - The net profit after deducting non-recurring gains and losses was ¥1.76 billion, a 15.31% increase from ¥1.53 billion in 2020[30]. Operational Highlights - Significant projects included the successful operation of the Baihetan hydropower unit and the Longshan pumped storage unit, both achieving excellent performance metrics[19]. - The company reported a total of RMB 526.062 million in non-recurring gains and losses for 2021, compared to RMB 333.085 million in 2020[37]. - The company secured new orders worth RMB 56.392 billion in 2021, representing a year-on-year growth of 14.15%, with clean and efficient energy equipment accounting for 25.81% of new orders[41]. - The wind power sector's revenue share increased to 26.4%, while coal power's revenue share fell below 20%[44]. - The company maintained zero major risk events and quality issues throughout the year, ranking first in reliability among domestic thermal power units[48]. Research and Development - Research and development expenses amounted to RMB 2.722 billion, constituting 5.69% of operating revenue, with significant achievements in core technology innovations[42]. - The company has established innovation alliances with over 70 domestic enterprises to enhance technological innovation capabilities[42]. - The company invested CNY 2.722 billion in R&D in 2021, accounting for 5.82% of its revenue, and obtained 401 authorized patents during the year[55]. - The company has developed a complete hydrogen energy integration solution, including a 100kW hydrogen fuel cell system, and has operated hydrogen fuel buses for nearly 10 million kilometers[53]. - The company is committed to strengthening R&D investment and accelerating breakthroughs in key core technologies, with a three-year action plan for technological innovation[112]. Governance and Compliance - The company has implemented comprehensive governance reforms, enhancing internal management and risk control systems[19]. - The company has established a comprehensive governance structure, including various committees to ensure effective oversight and compliance with regulations[153]. - The financial report for 2021 was audited by Dahua Certified Public Accountants, confirming that it accurately reflects the company's financial status and operational results[144]. - The supervisory board found that related party transactions were conducted fairly and transparently, with no harm to the interests of the company or its shareholders[145]. - The company has complied with significant laws and regulations, including the Company Law and Securities Law, during the reporting period[133]. Market and Strategic Outlook - The forecast for national electricity consumption growth in 2022 is between 5% to 6%, with an expected new installed capacity of approximately 230 million kilowatts[104]. - By the end of 2022, the total installed power generation capacity is projected to reach around 2.6 billion kilowatts, a year-on-year increase of about 9%[104]. - The company is focusing on green and low-carbon development, with an emphasis on renewable energy sources such as wind and solar power[104]. - The company aims to address the "bottleneck" issues in the energy sector through technological innovation and upgrades in coal power utilization[104]. - The company anticipates intensified market competition in the energy equipment industry due to the national energy "14th Five-Year Plan," necessitating improved cost control and product competitiveness[124]. Social Responsibility - The company donated approximately RMB 27.277 million for charitable purposes during the reporting period[133]. - The company has maintained stable and good relationships with customers and suppliers, emphasizing talent management and employee training[129].
东方电气(01072) - 2021 - 年度财报