Financial Performance - The total new contracts signed by the group amounted to RMB 760 million, a decrease of 22.7% compared to the previous year[21]. - The group's revenue for the year was RMB 740.3 million, representing a decrease of 20.4% year-on-year[21]. - As of December 31, 2021, the group recorded an uncompleted contract amount of RMB 729.1 million, down 8.5% from the end of the previous year[21]. - The group achieved a gross profit of RMB 267.3 million, an increase of 39.6% compared to the previous year, with a gross profit margin of 36.1%, up 15.5 percentage points year-on-year[21]. - Profit attributable to owners of the parent was RMB 74.5 million, a significant recovery from a loss of RMB 177.1 million in the previous year[21]. - The company achieved revenue of RMB 740.3 million, down 20.4% year-on-year[39]. - The gross profit generated was RMB 267.3 million, an increase of 39.6%, with the gross margin rising from 20.6% to 36.1%[39]. - The profit attributable to the owners of the parent company was RMB 74.5 million, compared to a loss of RMB 177.1 million in the previous year[39]. - Total revenue for the year was RMB 930,536,000, down from RMB 1,000,000,000 in the previous year[53]. - The gross profit for the year was RMB 267,300,000, an increase of RMB 75,800,000, with a gross margin rising from 20.6% to 36.1%[60]. Segment Performance - The railway segment reported revenue of RMB 551,300,000, a decrease of RMB 237,400,000 or 30.1% compared to the previous year, primarily due to the impact of COVID-19 on the railway communication market[48]. - The power segment achieved revenue of RMB 189,000,000, an increase of RMB 47,100,000 or 33.2%, attributed to the successful operation of the Myanmar power plant project[49]. - The value-added operations and services segment reported revenue of RMB 258,800,000, an increase of RMB 102,600,000 or 65.7%[55]. - The gross profit margin for the railway segment improved to 22.7%, up 7.2 percentage points from the previous year, while the power segment's gross profit margin increased to 75.3%, up 26.3 percentage points[62][63]. Cash and Assets - The total assets as of December 31, 2021, were RMB 3,055.6 million, down from RMB 3,483.2 million in 2020[39]. - The net cash position improved to RMB 33.4 million from a negative RMB 183.8 million in the previous year[39]. - As of December 31, the group's cash net amount was RMB 33,400,000, an increase of RMB 217,200,000 from a negative cash net amount of RMB 183,800,000 at the end of the previous year[90]. - The group's current ratio was 1.8, down from 1.5 at the end of the previous year, indicating a stable financial condition[89]. Expenses and Taxation - Net financial expenses for the year were RMB 11,100,000, a decrease of RMB 11,600,000 due to reduced interest expenses from lower bank loans[77]. - The company reported a significant reduction in sales and administrative expenses, totaling RMB 166,300,000, down RMB 163,200,000 from the previous year[71]. - The total income tax expense for the year was RMB 35,800,000, up from RMB 23,100,000 in the previous year, primarily due to a significant increase in the group's profits[81]. Employee and Management Information - As of December 31, 2021, the group employed 258 full-time employees[137]. - The remuneration of directors and senior management is determined based on individual performance and market trends[134]. - The company has no directors with service contracts that cannot be terminated within one year without compensation[133]. - The company has adopted pre-IPO share incentive plans and stock option plans to motivate directors and eligible employees[137]. Shareholder Information - Major shareholders include Holdco with 645,912,777 shares, representing 39.05% of the issued share capital[176]. - Central Huijin Investment Ltd. holds 215,000,000 shares, accounting for 12.99% of the issued share capital[176]. - Joyful Business Holdings Limited owns 105,758,203 shares, which is 6.39% of the issued share capital[176]. - Penbay Investments Limited has a stake of 98,613,367 shares, representing 5.96% of the issued share capital[176]. Corporate Governance - The company has complied with all relevant laws and regulations in mainland China as of the report date[107]. - The company has no arrangements for indemnifying directors against liabilities arising from their duties[130]. - The company has not engaged in any arrangements allowing directors or executives to benefit from acquiring shares or bonds of the company during the reporting period[128]. Future Plans and Investments - The company plans to develop the Hlawga power plant restoration project in Myanmar, expected to commence operations in 2022[44]. - The group plans to continue investing in appropriate financial products, primarily focusing on low-risk short-term financial investments to utilize idle cash[195]. - The group’s financial performance and investment strategies are aligned with its goal of maximizing returns while managing risks effectively[195]. Non-Competition Agreement - The company entered into a non-competition agreement with Beijing Ruihua Ying Technology Development Co., Ltd. to avoid potential competition in the transportation industry[200]. - The non-competition agreement aims to prevent potential conflicts of interest involving executive directors who have stakes in both the company and Beijing Ruihua Ying[200].
中国智能交通(01900) - 2021 - 年度财报