Financial Performance - The company's revenue for 2021 was RMB 6,279,549,000, an increase of 18.6% from RMB 5,296,064,000 in 2020[17]. - Gross profit for 2021 was RMB 458,797,000, up from RMB 301,202,000 in 2020, reflecting a gross margin improvement[17]. - The company reported a loss before tax of RMB 66,985,000, a significant improvement from a loss of RMB 283,820,000 in the previous year[17]. - Net loss for the year was RMB 92,839,000, compared to a net loss of RMB 271,511,000 in 2020, indicating a narrowing of losses[17]. - Basic earnings per share for 2021 were RMB (2.27), an improvement from RMB (6.66) in 2020[17]. - The company's total revenue increased by 18.6% from RMB 5,296.1 million in the previous year to RMB 6,279.5 million in the current year[68]. - Gross profit rose by 52.3% from RMB 301.2 million to RMB 458.8 million, with a gross margin improvement from 5.7% to 7.3%[69]. - The net loss for the year decreased by 65.8% to RMB 92.8 million, improving the net margin from -5.1% to -1.5%[96]. Assets and Liabilities - Total assets as of December 31, 2021, were RMB 10,098,421,000, compared to RMB 8,858,366,000 in 2020, showing a growth in asset base[19]. - Current assets increased to RMB 5,962,904,000 from RMB 4,665,778,000 in 2020, indicating improved liquidity[19]. - The company's total liabilities were RMB 6,451,382,000, up from RMB 5,066,622,000 in 2020, reflecting increased leverage[19]. - The net asset value decreased to RMB 3,647,039,000 from RMB 3,791,744,000 in 2020, indicating a decline in equity[19]. - The debt-to-asset ratio decreased from 70.5% in 2020 to 60.8% in 2021, indicating improved financial stability[103]. Project and Contract Management - The total value of new contracts obtained in 2021 was approximately RMB 6,414.0 million, a decrease of 39.8% year-on-year[28]. - The company’s total uncompleted contract value as of December 31, 2021, was approximately RMB 25,529.3 million, a decrease of 6.0% compared to the previous year[26]. - Significant progress was made on multiple projects, with the Shandong Jinhai Chemical project reaching 83% completion[30]. - The company plans to complete the Henan Shenma Hydrogen Ammonia project by July 2023, with 30% of the model review completed[31]. - The company aims to strengthen its project management capabilities and has trained 40 young talents as project managers[33]. - The company secured multiple key projects, including the EPC contract for the Qilu Chemical synthesis gas project and the CNOOC Huizhou Petrochemical new gasifier project[37]. - The company recorded a record of 33 consulting orders in 2021, laying the foundation for future design and EPC contracts[38]. Market Expansion and Strategic Focus - The company plans to focus on expanding its market presence and enhancing its technological capabilities in the upcoming year[16]. - The company is focusing on expanding its presence in emerging markets, achieving significant orders in 2021, which solidified its foundation for further overseas market expansion[43]. - The company is actively pursuing opportunities in the North American market, with multiple projects under negotiation[42]. - The company will deepen cooperation with foreign clients and focus on expanding markets in the Middle East, North America, Russia, Central Asia, and Southeast Asia[60]. - The company is exploring strategic acquisitions to enhance its market position, with a target of completing at least two acquisitions by the end of 2022[129]. Research and Development - The company is actively exploring emerging fields and enhancing R&D in new energy and new materials, focusing on projects like ethylene production and biodegradable plastics[28]. - The company achieved significant breakthroughs in new materials and biodegradable plastics, focusing on green technology development as a key direction[47]. - Successfully completed the national key R&D project on "New Technology for Efficient Synthesis of Chemical Products from CO2," establishing a pilot plant for ester hydrogenation with a capacity of 1,000 tons[47]. - The ester hydrogenation technology has been recognized as internationally leading, supporting the high-value utilization of CO2 in chemical production[47]. - The company developed a new technology for ethylene production through catalytic dehydrogenation of ethane, which passed technical evaluation and is considered to have strong innovation and independent intellectual property rights[49]. - During the review period, the company obtained 13 new authorized patents and filed 19 new patent applications, strengthening its intellectual property and technology reserves[51]. Sustainability and Corporate Governance - The management team emphasizes a commitment to sustainability, aiming for a 40% reduction in carbon emissions by 2025[130]. - The company established and implemented an environmental management system according to GB/T 24001–2004/ISO14001:2004 standards, receiving certification from a third-party organization[149]. - The company has actively complied with relevant laws and regulations, with further details on environmental, social, and governance matters to be published in an independent report[151]. - The company has established a robust governance structure with independent directors bringing diverse expertise to the board[137]. Employee and Operational Insights - In 2021, the total number of employees at the company was 1,323, with 172 high-end technical talents introduced[53]. - The total employee costs for the year amounted to RMB 661.5 million, slightly down from RMB 665.5 million in 2020[115]. - The group employed 1,323 staff as of December 31, 2021, a decrease from 1,538 employees in the previous year[115]. - The company has implemented foreign currency hedging policies to manage currency risks associated with its operations[111]. Future Outlook - Future guidance indicates an expected revenue growth of 10-12% for the upcoming fiscal year, driven by new project acquisitions[127]. - The company plans to invest 200 million in new technology development for renewable energy solutions over the next three years[124]. - The company plans to focus on enhancing technical capabilities and production efficiency in 2022, aiming to improve core competitiveness and economic benefits[57].
惠生工程(02236) - 2021 - 年度财报