Financial Performance - The company's revenue for the fiscal year ended December 31, 2021, was approximately RMB 24.67 million, an increase of 21.82% compared to RMB 20.25 million in 2020[10]. - The gross profit for the year was approximately RMB 3.53 million, with a gross margin of 14.31%, compared to a gross loss of RMB 2.11 million in 2020, which had a gross margin of -10.41%[17]. - The annual loss for the company was RMB 2.69 million, a decrease of 77.21% from a loss of RMB 11.8 million in 2020[8]. - The average selling price of marble blocks increased by approximately 24.02% to RMB 3,201 per cubic meter in 2021, compared to RMB 2,581 per cubic meter in 2020[8]. - The sales cost decreased by approximately 5.46% to RMB 21.14 million in 2021 from RMB 22.36 million in 2020[12]. - Loss attributable to owners of the company narrowed by 78.82% to approximately RMB 2,490,000 from RMB 11,760,000 in the 2020 fiscal year, driven by increased revenue and effective cost control[25]. Assets and Liabilities - The total assets of the company decreased by 7.70% to RMB 67.32 million in 2021 from RMB 72.93 million in 2020[8]. - The company’s equity attributable to owners decreased by 5.51% to RMB 59.59 million in 2021 from RMB 63.07 million in 2020[8]. - As of December 31, 2021, the company had cash and cash equivalents of approximately RMB 25,990,000, a slight increase from RMB 25,730,000 on December 31, 2020[81]. - The current ratio as of December 31, 2021, was approximately 5.19 times, compared to 5.2 times on December 31, 2020, indicating stable liquidity[81]. - The company has no borrowings as of December 31, 2021, resulting in an asset-to-equity ratio that is not applicable[81]. Operational Performance - The marble business generated revenue of approximately RMB 24,670,000, with a total production of 6,182 cubic meters and sales of 4,257 cubic meters of marble blocks[31]. - The group recorded development expenditures of approximately RMB 8,100,000 for the expansion of the Yiduo Rock Marble Mine during the year[42]. - The mining activities incurred expenses of approximately RMB 13,410,000, with a cost of approximately RMB 2,169 per cubic meter, a decrease from RMB 2,758 per cubic meter in the previous fiscal year[44]. - The Yiduo Rock project has a permitted annual production capacity of 20,000 cubic meters, with the mining license renewal process expected to be completed by June 30, 2022[46]. - The group did not conduct any further mineral exploration work during the year, resulting in no exploration expenditures[38]. Cost Management - Administrative expenses decreased by approximately RMB 3,710,000 or 28.43% to about RMB 9,340,000 from RMB 13,050,000 in the 2020 fiscal year, due to effective cost control measures[20]. - Sales and distribution expenses for the year were approximately RMB 120,000, down from RMB 130,000 in the 2020 fiscal year, with most expenses reduced to a minimum level for cost control[19]. - Other operating expenses decreased by approximately 30.77% to about RMB 180,000 from RMB 260,000 in the 2020 fiscal year, primarily due to donations during the COVID-19 pandemic[23]. - Financial costs decreased to approximately RMB 180,000 from RMB 210,000 in the previous fiscal year, attributed to more favorable lease terms for office space[24]. Corporate Governance - The board of directors has maintained compliance with the listing rules, appointing at least three independent non-executive directors, constituting at least one-third of the board[99]. - The board held regular meetings to discuss significant matters related to current and new business operations, ensuring effective governance[101]. - The company encourages all directors to participate in suitable continuous professional development to enhance their knowledge and skills[106]. - The board's composition includes a mix of executive and independent non-executive directors, ensuring a balance of expertise and oversight[98]. - The audit committee is composed entirely of independent non-executive directors, ensuring objectivity in financial reporting and internal controls[127]. Risk Management - The group has identified key risks, including limited mining talent and reliance on the Yiduo Rock project for revenue generation[53]. - The group did not use financial instruments for hedging against currency risks this year, focusing on monitoring foreign currency risks and taking necessary measures to reduce currency risk at reasonable costs[90]. - The company has implemented a robust internal control and risk management system, which is regularly reviewed by the board to ensure effectiveness[146]. Future Plans - The company aims to become a well-known marble block supplier in China, planning to develop the Yiduo Rock project and expand its marble trading business to meet customer demand[74]. - The company plans to diversify its revenue sources through new trade contracts and is actively seeking attractive opportunities in commodity trading[79]. - The company plans to appoint a suitable candidate for the chairman position, which has been vacant since March 2020[99]. - The company intends to utilize approximately HKD 2,800,000 from the remaining proceeds for general operating funds before the end of June 2022[179]. Employee and Community Engagement - The company employed a total of 22 full-time employees as of December 31, 2021, an increase from 20 employees on December 31, 2020[83]. - The company achieved zero customer complaints during the year, maintaining a strong focus on quality control[169]. - The company has established a system to monitor and record occupational safety statistics, achieving zero work-related injuries[169]. - The company made charitable donations of approximately RMB 50,000 during the year, compared to RMB 140,000 in 2020[185].
高鹏矿业(02212) - 2021 - 年度财报