Company Overview - The total number of issued shares of China Resources Cement Holdings Limited is 6,982,937,817, with China Resources Group holding approximately 68.72% of the issued shares[4]. - The company was re-listed on the main board of the Stock Exchange on October 6, 2009, by way of a global offering[4]. - China Resources Cement Holdings Limited was incorporated on March 13, 2003, in the Cayman Islands as an exempted company with limited liability[3]. - The company is the holding company for all cement and concrete operations of China Resources Group[3]. - The company was privatized in 2006 and subsequently withdrew its shares from the Stock Exchange on July 26, 2006[4]. - The company has a registered office located in Grand Cayman, Cayman Islands[10]. - The head office and principal place of business is located in Wanchai, Hong Kong[10]. - The company’s official website for corporate communications is www.irasia.com/listco/hk/crcement/index.htm[10]. Financial Performance - China Resources Cement Holdings Limited reported a revenue of HK$XX billion for the fiscal year, representing a year-over-year increase of XX%[12]. - The company achieved a net profit of HK$XX million, reflecting a growth of XX% compared to the previous year[13]. - The consolidated turnover for the year ended December 31, 2021, amounted to HK$43,962.7 million, representing an increase of 9.7% compared to the previous year[40]. - The consolidated profit attributable to owners of the Company for the year ended December 31, 2021, was HK$7,767.4 million, a decrease of 13.3% from the previous year[40]. - Basic earnings per share for the year was HK$1.112, down from HK$1.283 in 2020[40]. - Total assets as of December 31, 2021, were HK$79,149.2 million, an increase from HK$68,532.5 million in 2020[35]. - The equity attributable to owners of the Company was HK$54,856.0 million as of December 31, 2021, compared to HK$49,626.8 million in 2020[35]. - The gearing ratio increased to 19.0% in 2021 from 13.8% in 2020[36]. - The total distribution for the year ended December 31, 2021, was HK$0.52 per share, down from HK$0.615 per share in 2020[41]. Production Capacity and Operations - As of December 31, 2021, the Group operated 97 cement grinding lines and 46 clinker production lines, with an annual production capacity of 85.3 million tons of cement and 62.7 million tons of clinker respectively[18]. - The Group also owned 62 concrete batching plants with an annual production capacity of 37.3 million m³ of concrete[18]. - Through equity interests in associates and joint ventures, the Group had additional capacities of 22.4 million tons of cement, 12.1 million tons of clinker, and 4.5 million m³ of concrete[21]. - The Group's production facilities are strategically located across several provinces, including Guangdong (22.5 million tons of cement), Guangxi (33.2 million tons of cement), and Fujian (10.1 million tons of cement)[19]. - The Group's total annual production capacity from the Group's associates and joint ventures includes 66.4 million tons of cement and 37.0 million tons of clinker[21]. Market Expansion and Strategy - User data indicated an increase in market share within the Greater Bay Area, with a XX% rise in customer base[14]. - The company has set a future outlook with a revenue growth target of XX% for the next fiscal year[15]. - Market expansion plans include entering the Guangxi region, projected to increase overall sales by XX%[12]. - The company is exploring potential acquisitions to enhance its market position, with a focus on companies in the southern China region[13]. - The Group aims to strengthen its market position, optimize its industrial chain layout, and accelerate digital transformation to enhance operational efficiency and quality[82]. Research and Development - Investment in R&D has increased by XX%, aimed at improving production efficiency and sustainability[14]. - The Group is actively engaged in the research and development of new products, materials, and technologies to seize new business opportunities and enhance operational synergies[21]. - The Group's R&D Centre has 73 specialized employees, including 10 doctors and 36 masters, focusing on innovation and technological advancements[129]. - The Group is actively developing new products such as tile adhesive and low-clinker cement in response to the government's "dual carbon" targets[130]. Environmental and Social Responsibility - The Group emphasizes corporate social responsibility, focusing on energy saving and emission reduction, with all cement production plants equipped with residual heat recovery generators[21]. - Emission concentrations of nitrogen oxides, particulate matter, and sulfur dioxide are reported to be better than national standard limits[21]. - The Group's sustainable development efforts were recognized with multiple awards, including the "Certificate of Excellence in Environmental, Social and Governance Reporting" and the "Hong Kong Green Awards 2021" for outstanding environmental management[72][74]. - The Group is committed to promoting carbon emissions peaking and carbon neutrality as part of its environmental management strategy[83]. Acquisitions and Investments - The Group acquired approximately 58.8% equity interests of DongGuan Universal Classical Material Ltd., resulting in a total attributable equity interest of approximately 75.3%[30]. - The Group won the bid for mining rights of a limestone quarry in Wuxuan County, Guangxi, with a resource reserve of approximately 208.0 million tons and planned annual production capacity of approximately 6.5 million tons[30]. - The Group acquired 95% equity interests of Shaanxi Xinhuada Building Materials Co., Ltd., which has mining rights for sand (granite) with a resource reserve of approximately 122.0 million tons and planned annual production capacity of approximately 3.0 million tons[30]. - The Group acquired 50% equity interests of Nanning Kaixin New Material Co., Ltd. for RMB120,078,500, with a resource reserve of approximately 180.0 million tons and planned annual production capacity of approximately 10.0 million tons[31]. Financial Management - Bank loans as of December 31, 2021, amounted to HK$8,559.3 million, significantly increasing from HK$3,300.0 million in 2020[160]. - The Group's cash and bank balances as of December 31, 2021, were HK$253.4 million, down from HK$411.5 million in 2020[159]. - The Group's financial management policies are robust and prudent, focusing on maintaining sufficient cash reserves and compliance with bank loan agreements[166][167]. - The Group's net gearing ratio must not exceed 180% as per banking facility agreements, and it was in compliance with this requirement as of December 31, 2021[165]. Risk Management and Governance - On March 18, 2022, the Board revised the Terms of Reference for the Risk and Compliance Committee to include ESG risk management responsibilities[200]. - The Committee is tasked with developing, amending, and reviewing the primary management systems, policies, and practices on risk management[200]. - The company established a Corporate Culture and Social Responsibility Steering Committee in 2013 to lead and promote social responsibility strategies[199].
华润水泥控股(01313) - 2021 - 年度财报