FUJIAN EXPRESSWAY(SH:600033)2022-03-29 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,977,220,759.39, representing a 28.00% increase compared to CNY 2,325,878,077.58 in 2020[33]. - The net profit attributable to shareholders for 2021 was CNY 829,219,482.66, an increase of 83.37% from CNY 452,213,073.02 in 2020[33]. - The net cash flow from operating activities for 2021 was CNY 2,368,927,087.15, up 34.64% from CNY 1,759,500,566.20 in 2020[33]. - The basic earnings per share for 2021 was CNY 0.3021, an increase of 83.31% compared to CNY 0.1648 in 2020[35]. - The weighted average return on equity for 2021 was 8.15%, an increase of 3.48 percentage points from 4.67% in 2020[35]. - The total assets at the end of 2021 were CNY 16,695,821,660.79, a 3.18% increase from CNY 16,180,632,460.62 at the end of 2020[33]. - The net assets attributable to shareholders at the end of 2021 were CNY 10,471,395,380.43, reflecting a 6.03% increase from CNY 9,875,587,114.78 at the end of 2020[33]. - The company reported a net profit of CNY 115,848,275.51 in Q4 2021, with total operating revenue of CNY 749,336,459.86 for the same quarter[39]. - The company achieved a main business revenue of 2.942 billion RMB, a year-on-year increase of 29.12%[45]. - The company reported a net profit attributable to shareholders of 829 million RMB, representing an 83.37% year-on-year growth[45]. - The total operating revenue for the company was 2.977 billion RMB, reflecting a 28.00% increase compared to the previous year[51]. Dividend Policy - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares based on a total share capital of 2.7444 billion shares, which corresponds to a 10% allocation from the net profit for the year[7]. - In 2021, the company distributed a cash dividend of 1 RMB per 10 shares, totaling 274,440,000 RMB based on 2,744,400,000 shares[136]. - For the year 2021, the proposed cash dividend is 1.5 RMB per 10 shares, which accounts for 49.64% of the net profit attributable to the parent company[136]. - The company has committed to maintaining a cash distribution of at least 30% of distributable profits for the years 2021-2023[136]. Governance and Compliance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective operation[86]. - The board of directors comprises 11 members, including 4 independent directors, exceeding one-third of the total board members, in compliance with legal requirements[86]. - The company has completed the re-election of the ninth board of directors and supervisory board, and appointed a new management team during the reporting period[89]. - The company has implemented a series of financial management systems to ensure independent accounting and financial activities without interference from the controlling shareholder[86]. - The company has actively engaged in investor relations management, including hosting online annual performance briefings and participating in investor interaction activities[86]. - The company has established a comprehensive information disclosure system, ensuring timely and accurate communication of relevant information to all shareholders[86]. - The company has conducted self-inspections on corporate governance and compliance with regulations, leading to continuous improvement in governance standards[89]. - The company has established specialized committees under the board, including strategy, nomination, compensation and assessment, and audit committees, which actively fulfill their responsibilities[86]. - The company has adhered to strict procedures for related party transactions, ensuring fairness and transparency without harming the interests of other shareholders[86]. Risk Management - The company has outlined potential risks in its future development strategies, emphasizing the importance of risk management[9]. - The company faces risks from macroeconomic pressures, including demand contraction and supply shocks, which may impact transportation demand[83]. - The company is monitoring policy changes in the highway sector, particularly regarding the revision of the "Highway Toll Management Regulations," which could affect revenue stability[83]. - The company is committed to improving its risk management framework to mitigate investment and operational risks associated with its business model[83]. Investments and Strategic Development - The company is exploring investment opportunities in smart transportation and new energy sectors to diversify its revenue streams[79]. - The company plans to enhance its main business through internal development and external mergers and acquisitions to improve sustainable growth capabilities[79]. - The company is focusing on data analysis and vehicle flow management to attract more traffic to highways, including measures like container fee reductions and joint precise overload control[80]. - The company invested 800 million RMB to acquire 46 million shares of Industrial Bank at a price of 17.39 RMB per share[45]. - The company confirmed an investment loss of 52.9 million RMB from Haixia Insurance during the reporting period[45]. Employee and Workforce Management - The company reported a total of 1,351 employees, with 93 in the parent company and 1,258 in major subsidiaries[128]. - The company has a total of 54 financial personnel, 243 administrative personnel, and 547 toll collection personnel among its workforce[131]. - The company has implemented a salary distribution policy that considers operational performance and individual performance, ensuring internal and external equity in compensation[132]. - The training plan includes professional training for technical staff, focusing on enhancing comprehensive quality and innovation capabilities[133]. - The company has maintained a focus on enhancing employee training and development to improve overall staff quality[133]. Audit and Internal Control - The company has received a standard unqualified audit report from the accounting firm Rongcheng[6]. - The company's financial report has been verified for authenticity and completeness by its management team[5]. - The company has established a robust internal control system, ensuring effective execution of resolutions and budget management[141]. - There were no significant deficiencies in internal control reported during the period[141]. - The internal control audit report issued was a standard unqualified opinion[144]. - The company has implemented internal audits and checks on subsidiaries to enhance governance and financial compliance[141]. Shareholder Information - The total number of ordinary shareholders reached 91,502 by the end of the reporting period, an increase from 89,306 at the end of the previous month[172]. - The largest shareholder, Fujian Expressway Group Co., Ltd., holds 992,367,729 shares, representing 36.16% of the total shares[173]. - The second largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, accounting for 17.75%[173]. - The top ten shareholders include individuals such as Gao Xiubo and Li Ming, with holdings of 29,000,000 and 28,000,000 shares respectively[176]. - There were no changes in the total number of shares or the capital structure during the reporting period[169]. - The company has not issued any new securities during the reporting period[170]. Debt and Financing - The company successfully issued corporate bonds totaling 600 million RMB with a coupon rate of 3.54% on July 27, 2020[197]. - The entire raised funds of 600 million RMB were utilized to repay the principal and interest of the "15 Min Expressway" corporate bonds, in accordance with the issuance announcement[197]. - The bond "20 Min Gao 01" was listed on the Shanghai Stock Exchange on August 4, 2020, under the code 163751[197]. - The company has a stable credit rating of AA+ from China Chengxin International Credit Rating Co., Ltd., with no changes in the rating outlook[198]. - The bond has a maturity date of July 26, 2022, and pays interest annually without compounding[190]. - The company has no overdue bonds or risks associated with the termination of bond trading[193]. - All funds raised were used as planned, with no violations in the use of raised funds[197].