Financial Performance - The company's revenue for 2021 reached RMB 26,781,555 thousand, an increase from RMB 25,275,453 thousand in 2020, representing a growth of approximately 5.95%[9] - Gross profit for 2021 was RMB 2,145,995 thousand, compared to RMB 2,077,176 thousand in 2020, indicating a growth of about 3.30%[9] - Net profit for 2021 was RMB 885,374 thousand, up from RMB 831,811 thousand in 2020, reflecting an increase of approximately 6.45%[9] - The company achieved a revenue of approximately RMB 26,781.6 million for the year ended December 31, 2021, representing a growth of about 6.0% compared to the previous year[15] - The profit attributable to the owners of the company was approximately RMB 788.5 million, remaining stable compared to the previous year[15] - Earnings per share for 2021 was RMB 1.40, consistent with the previous year's performance[15] - Operating profit was approximately RMB 1,345,859,000, a decrease of about 3.3% from RMB 1,392,329,000 in the previous year[22] - The total comprehensive income for the year was RMB 991,640 thousand, up from RMB 827,376 thousand in 2020, marking an increase of around 19.83%[178] - The company reported a significant increase in other comprehensive income, totaling RMB 106,266 thousand for 2021, compared to a loss of RMB 4,435 thousand in 2020[178] Assets and Liabilities - Total assets as of December 31, 2021, amounted to RMB 48,915,671 thousand, compared to RMB 42,174,951 thousand in 2020, marking a growth of around 15.00%[9] - Total liabilities increased to RMB 37,566,498 thousand in 2021 from RMB 31,819,605 thousand in 2020, representing a rise of approximately 17.30%[9] - The company's equity increased to RMB 11,349,173 thousand in 2021, up from RMB 10,355,346 thousand in 2020, representing a growth of about 9.6%[175] - The company's retained earnings grew to RMB 9,494,855 thousand in 2021, up from RMB 8,726,599 thousand in 2020, indicating an increase of around 8.8%[175] - The company's total liabilities decreased from RMB 4,541,911 thousand in 2020 to RMB 3,684,569 thousand in 2021, indicating a reduction of about 18.9%[181] Cash Flow and Financial Position - The company achieved a net cash position with a net cash ratio of 49.2% as of December 31, 2021, compared to 44.5% in 2020[53] - The total cash and cash equivalents increased to RMB 7,813,911,000 in 2021 from RMB 7,261,532,000 in 2020, reflecting a growth of approximately 7.6%[53] - Operating cash inflow for the year was RMB 1,345,001,000, a decrease of approximately 28.3% from RMB 1,876,779,000 in the previous year[56] - The net increase in cash and cash equivalents for the year was RMB 556,061 thousand, down from RMB 1,768,429 thousand in 2020, representing a decline of approximately 68.5%[181] - The company reported a significant decrease in interest paid, amounting to RMB 218,563 thousand in 2021, compared to RMB 259,982 thousand in 2020, a reduction of approximately 15.9%[181] Business Segments - The construction segment generated revenue of RMB 21,640,032,000, a 6% increase from RMB 20,433,386,000 in 2020, while operating profit rose by 5% to RMB 570,250,000[25][28] - The real estate development segment saw a significant revenue increase of 20% to RMB 2,365,738,000 from RMB 1,972,143,000 in 2020[25][31] - The construction materials segment experienced a revenue decline of 6% to RMB 2,338,965,000 from RMB 2,486,406,000 in the previous year[25] Corporate Governance - The board of directors is committed to maintaining effective corporate governance and has complied with all relevant corporate governance codes as of December 31, 2021[64] - The company has established an ESG working group under the board to enhance systematic and standardized management of ESG initiatives[70] - The company emphasizes timely and accurate information disclosure to build market confidence and maintain good communication with investors[104] - The company has adopted a board diversity policy, focusing on skills, experience, and diversity aspects such as age, gender, and cultural background[74] Strategic Initiatives - The company is actively expanding its business operations across various regions including Zhejiang, Sichuan, and Chongqing, enhancing its market presence[4] - The company is focused on industrialization in the construction sector, aiming to lead the industry transformation in China[1] - The company plans to continue focusing on quality and safety management, financial control, and key project investments to enhance operational resilience[19] - The company aims to align with national strategies for carbon neutrality and carbon peak, integrating these principles into its core business operations[19] Employee and Community Engagement - Employee benefits expenses reached RMB 5,586,383,000 for the year, reflecting a commitment to human resources management and employee welfare[154] - The group made charitable donations totaling RMB 3,274,000 in the current year, a decrease from RMB 7,825,000 in 2020[127] Risk Management - The company has established a risk management and internal control system under the leadership of the board, which includes three lines of defense: business, financial, and internal audit[81] - The risk management system is continuously monitored and improved by the audit committee and the board, with regular risk assessment reports submitted to them[83]
宝业集团(02355) - 2021 - 年度财报