Financial Performance - In 2021, the company achieved revenue of RMB 3.127 billion, a year-on-year increase of 16.84%, and an increase of 81.10% compared to the year of listing[4]. - The net profit attributable to shareholders reached RMB 659 million, representing a year-on-year growth of 73.67% and an increase of 63.29% compared to the year of listing[4]. - The company's revenue for the year 2021 reached RMB 3,126,648,000, representing a 16.8% increase from RMB 2,675,912,000 in 2020[15]. - The net profit from continuing operations for 2021 was RMB 659,403,000, up 74.5% from RMB 377,772,000 in 2020[15]. - The EBITDA for continuing operations was RMB 1,117,318,000, with an EBITDA margin of 35.74%, compared to 29.43% in 2020[15]. - The net profit for the year 2021 was RMB 659,403 thousand, an increase of RMB 281,631 thousand or 74.55% compared to the previous year[92]. - The gross profit for the fiscal year 2021 was RMB 1,215,345 thousand, an increase of RMB 297,362 thousand or 32.39%, with the gross margin rising from 34.31% to 38.87%[85]. Revenue Sources - Revenue from high-purity iron accounted for 79.64% of total revenue in 2021, marking a significant shift from being a bulk resource producer to a new energy materials supplier[5]. - Sales revenue from the high-purity iron business rose to RMB 2,489,976 thousand, a year-on-year increase of 24.05%, accounting for 79.64% of the total revenue[32]. - The total revenue for the year 2021 was RMB 3,126,648 thousand, with a breakdown of RMB 619,219 thousand from iron ore and RMB 2,438,960 thousand from high-purity iron[86]. Production and Capacity - The company produced iron concentrate with a grade of 71.5% in 2021, enhancing its product offerings for the chemical sector[7]. - The company has an annual production capacity of 930,000 tons for high-purity iron, making it the largest supplier for wind power ductile iron castings in the Chinese market[20]. - The company plans to produce 800,000 tons of high-purity iron in 2022 as production capacity ramps up[40]. - The company plans to produce 950,000 tons of iron concentrate in 2022 to ensure raw material supply for high-purity iron business and enhance product value[82]. Safety and Environmental Commitment - The company has maintained a zero-accident record for five consecutive years, emphasizing its commitment to safety and environmental protection[8]. - The company has achieved zero fatalities and zero major environmental incidents for five consecutive years, emphasizing its commitment to safety and environmental protection[35]. - The company has implemented policies to reduce greenhouse gas emissions and promote resource efficiency[167]. Dividends and Shareholder Value - The company has distributed dividends totaling HKD 1.288 billion since its IPO, exceeding the total fundraising amount of HKD 828 million[11]. - The company proposed a final dividend of HKD 0.12 per share, in addition to an interim dividend of HKD 0.06 per share, reflecting a commitment to shareholder value[13]. - The company plans to distribute a final dividend of HKD 0.12 per share, with a dividend payout ratio of no less than 30% of the total net profit[30]. - The company aims to maintain a profit distribution policy with a minimum of 30% of the group's net profit allocated for dividends each fiscal year[126]. Financial Stability - The debt-to-asset ratio decreased to 58.85% from 64.29% in the previous year, indicating improved financial stability[15]. - The interest coverage ratio improved to 11.37 times, compared to 6.52 times in 2020, indicating stronger earnings relative to interest expenses[15]. - The company's inventory decreased by RMB 96,615 thousand or 29.91%, totaling RMB 226,358 thousand as of December 31, 2021[93]. - The total financing costs for 2021 were RMB 78,419 thousand, a decrease of RMB 7,686 thousand or 8.93% from the previous year[91]. Resource Development - The company has added approximately 150 million tons of iron ore resources and 3.5 million ounces of gold resources over the past ten years[6]. - The gold resource at the Mt Bundy project increased by approximately 67% since its acquisition in 2018, now exceeding 3 million ounces, with reserves increasing by about 703% to over 1.4 million ounces[33]. - The average grade of gold resources is 0.9 grams per ton, with reserves averaging 1.0 grams per ton[72]. - The company holds proven reserves of 45.7 million tons of ore with an average grade of 1.0 g/t, equating to 1,405 thousand ounces of gold[75]. Strategic Partnerships and Expansion - The company plans to expand its high-purity iron production to meet the increasing quality demands of the wind power industry[12]. - The company aims to explore other materials needed for the new energy sector, further broadening its development scope[12]. - The company is focused on expanding its operations in Australia, having established a subsidiary and developed a successful gold mining team over the past decade[21]. - The company has established a strategic partnership with Emerald Planet Holdings Limited to enhance high-purity iron production capacity[42]. Corporate Governance - The company has confirmed the independence of its non-executive directors, ensuring no significant relationships that could interfere with independent judgment[141]. - The board of directors consists of three independent non-executive directors, accounting for over one-third of the total board members[189]. - The company has complied with the corporate governance code and has confirmed adherence to the non-competition agreement with its controlling shareholders[166][163]. Employee and Management Information - The total number of employees as of December 31, 2021, was 1,725, up from 1,576 in the previous year, with total employee compensation and benefits amounting to RMB 185,798 thousand[84]. - Two senior management personnel received salaries in the range of HKD 500,001 to HKD 1,000,000, and one received between HKD 1,000,001 and HKD 1,500,000 during the year[194]. - The company has purchased liability insurance for its directors and senior management for a duration of one year[194]. Legal and Compliance - As of December 31, 2021, the company had no significant legal disputes or arbitrations pending[169]. - The company has not provided financial assistance or guarantees to any associated companies during the fiscal year ending December 31, 2021[173]. - The consolidated financial statements have been audited by Deloitte Touche Tohmatsu[171].
中国罕王(03788) - 2021 - 年度财报