Financial Performance - The company reported total revenue of approximately RMB 295.1 million for the year ended December 31, 2021, representing an increase of about 70.1% compared to RMB 173.5 million for the year ended December 31, 2020[18]. - Revenue from oil product sales increased significantly by 181.0% to RMB 205.2 million, accounting for approximately 70.7% of total revenue[16][20]. - Handling service revenue decreased by approximately 11.9% to about RMB 85.1 million, attributed to reduced demand leading to lower cargo throughput[20]. - Rental income decreased by 38.0% to RMB 1.4 million, while service income increased by 109.1% to RMB 3.3 million[20]. - Overall gross profit decreased by approximately 9.2% to about RMB 55.7 million for the year ended December 31, 2021[25]. - The overall gross margin declined from approximately 35.3% to about 18.9% for the year ended December 31, 2021[26]. - The profit attributable to the owners of the company decreased by approximately 38.9% to about RMB 12.7 million for the year ended December 31, 2021[33]. - The net financial cost was approximately RMB 3.3 million for the year ended December 31, 2021, compared to RMB 2.3 million for the previous year[28]. - Sales cost rose by approximately 113.3% to about RMB 239.4 million for the year ended December 31, 2021, attributed to the cost of goods sold for oil products amounting to about RMB 195.5 million[24]. Operational Developments - The total cargo throughput was approximately 4,104 thousand tons, a decrease of about 12.1% from 4,670 thousand tons in the previous year, primarily due to reduced demand influenced by the ongoing COVID-19 pandemic[15]. - The company plans to construct the second phase of the Zhengyuan Wharf, pending government approval, which will cover an area of approximately 4,410 square meters[9]. - The average handling fee remained stable compared to the previous year, despite fluctuations in the types of cargo processed[15]. - The company has been strengthening service quality and expanding its customer base by adding several new clients during the reporting year[15]. - The company aims to explore new business opportunities to enhance performance and improve shareholder returns as part of its long-term development strategy[10]. Employee and Management Information - As of December 31, 2021, the group employed 247 staff, an increase from 241 staff as of December 31, 2020, resulting in total employee costs of approximately RMB 26.9 million, up from RMB 23.8 million in the previous year, primarily due to increased headcount and social security contributions[43]. - The employee turnover rate for the reporting period was 12.55%, with 29 full-time employees leaving the company[182]. - The company provided a total of 240 training hours for 193 employees during the reporting period[195]. - 100% of senior management received training, while 63% of middle management and 86% of frontline and other employees participated[196]. - The company has increased the disease allowance ratio to retain talent and ensures compensation aligns with market standards[185]. Corporate Governance - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced distribution of power and independent judgment[84]. - The company has adopted the standard code of conduct for securities trading, confirming full compliance by all directors during the reporting year[81]. - The board has established formal arrangements for financial reporting and internal control principles to ensure compliance with listing rules and relevant laws[83]. - The company has not set up an independent internal audit department but has engaged external consultants for internal reviews as part of its risk management strategy[83]. - The board is committed to holding at least four regular meetings annually, with most directors expected to participate in person or via electronic means[90]. Environmental and Social Responsibility - The group is committed to providing employment opportunities in the communities where it operates, fostering a capable workforce, and maintaining a safe working environment[131]. - The total greenhouse gas emissions for the reporting period amounted to 2,344.1 tons of CO2 equivalent, with a density of 0.5712 tons of CO2 equivalent per thousand tons of total cargo throughput[143]. - The company generated a total of 200 tons of hazardous waste during its operations, which includes waste oil from machinery[149]. - The company aims to reduce its total emissions by 3% per ton of total emissions annually over the next 10 years[152]. - The company has established a goal to reduce waste generation by 3% per ton over the next 10 years[153]. Future Outlook - The company aims to strengthen its core business and cautiously seize opportunities for gradual development and expansion, focusing on broadening sources and improving operational efficiency[53]. - The company plans to continue developing new products and technologies while exploring market expansion opportunities[53]. - The group aims to expand its business operations and production capacity, supported by government policies favoring the non-state economy[131].
天源集团(06119) - 2021 - 年度财报