Financial Performance - In 2021, Chanhigh Holdings Limited reported a revenue of RMB 1,768,762 thousand, representing a year-on-year increase of 10.9% from RMB 1,594,568 thousand in 2020[12]. - The gross profit for 2021 was RMB 154,998 thousand, with a gross margin of 8.8%, slightly up from 8.6% in 2020[12][14]. - The net profit attributable to owners of the company for 2021 was RMB 31,410 thousand, an increase of 36.5% compared to RMB 23,030 thousand in 2020[12]. - The company's annual revenue for the year was approximately RMB 1,768.8 million, representing a growth of about 10.9% compared to the same period in 2020[23]. - Gross profit increased by 12.9% to RMB 155.0 million, with the gross margin rising from 8.6% to 8.8%[47]. - The net current assets increased by 2.4% to RMB 864.5 million, reflecting the growth in performance[53]. - Return on equity rose from 2.6% to 3.4%, attributed to an increase in profits[77]. - Return on total assets increased from 1.0% to 1.4%, also due to higher profits[78]. Assets and Liabilities - Total assets increased to RMB 2,290,208 thousand in 2021, up from RMB 2,221,143 thousand in 2020, indicating a growth of 3.1%[13]. - The total liabilities of the company rose to RMB 1,376,433 thousand in 2021, compared to RMB 1,338,668 thousand in 2020, reflecting a 2.8% increase[13]. - Trade and other receivables decreased by 0.6% from RMB 810.1 million to RMB 805.0 million, primarily due to increased efforts in collection[55]. - Contract assets increased slightly from RMB 954.6 million to RMB 976.8 million, while contract liabilities rose from RMB 69.96 million to RMB 84.83 million[59]. - Trade payables increased by 1.5% from RMB 324.3 million to RMB 329.2 million, indicating a slight rise in obligations[61]. Revenue Sources - Revenue sources include landscaping construction (34.6%), municipal engineering (32.2%), construction engineering (29.7%), and others (3.5%)[23]. - The landscaping construction segment's revenue surged by 72.2% to RMB 611.1 million, driven by an increase in project numbers and average contract value[41]. - The municipal engineering construction segment's revenue rose by 3.1% to RMB 570.2 million, attributed to an increase in project numbers[42]. - The construction engineering segment's revenue decreased by 16.5% to RMB 525.6 million, mainly due to the completion of several projects in previous years[43]. Operational Strategy - The company aims to seek opportunities for collaboration with suitable state-owned enterprises in 2022 to participate in government infrastructure projects[16]. - The company plans to enhance its operational performance and increase corporate value to benefit society and shareholders[16]. - The company is focusing on optimizing its internal structure and strengthening internal controls to ensure steady growth[16]. - The company plans to actively expand its national business while focusing on traditional infrastructure and new infrastructure development[34]. Employee and Welfare - The company has a total of 620 employees, with employee welfare expenses amounting to RMB 47.5 million for the year[27]. - The company has established a provincial-level postdoctoral workstation approved by the Zhejiang Provincial Postdoctoral Office[24]. Corporate Governance - The company has adopted a corporate governance code and has complied with its provisions throughout the year, except for the absence of the chairman at the annual general meeting due to unforeseen circumstances[181]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with listing rules regarding board composition[185]. - The independent non-executive directors have confirmed their independence, contributing to the board's effective operation[188]. - The company has established four board committees: audit committee, remuneration committee, nomination committee, and strategy committee to oversee specific matters[183]. - The company promotes a culture of open debate to facilitate contributions from independent non-executive directors[195]. Risks and Compliance - The group faces various financial risks, including credit risk, liquidity risk, and interest rate risk, with a low exposure to exchange rate risk due to operations primarily in China[90]. - The group's credit risk is mainly from trade and other receivables, with policies in place to minimize this risk through credit limits and regular reviews of receivables[91]. - The group must comply with relevant laws and regulations, and any changes could lead to additional compliance costs or operational adjustments[161]. - The group has confirmed compliance with non-competition agreements by major shareholders[156]. Awards and Recognition - The company has received various awards, including national quality engineering awards and provincial-level honors for quality management[24]. Future Investments - The group has no plans for significant future investments or capital assets beyond what is disclosed in the "Use of Net Proceeds" section of the board report[88].
沧海控股(02017) - 2021 - 年度财报