NUG(SH:600051)2022-04-11 16:00Financial Performance - In 2021, the company achieved a net profit of CNY 209,168,988.69, with a proposed cash dividend of CNY 1.00 per share, totaling CNY 31,088,000.00[5] - The company's operating revenue for 2021 was CNY 3,725,851,908.30, representing a decrease of 24.17% compared to CNY 4,913,513,656.20 in 2020[21] - The net profit attributable to shareholders decreased by 27.45% to CNY 249,417,453.28 from CNY 343,776,828.57 in the previous year[21] - The net cash flow from operating activities was negative at CNY -222,534,817.09, a decline of 211.81% compared to CNY 199,024,830.88 in 2020[22] - The total assets decreased by 13.30% to CNY 6,109,764,442.81 from CNY 7,047,050,098.31 in 2020[22] - Basic earnings per share fell by 27.93% to CNY 0.80 from CNY 1.11 in 2020[23] - The weighted average return on net assets decreased by 4.08 percentage points to 8.21% from 12.29% in 2020[23] Revenue and Cost Analysis - The company's total operating revenue for the year reached 3.726 billion RMB, achieving 104.5% of the annual operating plan[32] - The total operating cost was 3.013 billion RMB, completing 109.7% of the annual plan, primarily due to unexpected coal price increases[32] - The company's total revenue for the reporting period was CNY 372.585 million, a decrease of 24.2% compared to the previous year, primarily due to reduced sales from the subsidiary Liangzhu Company[51] - The company's operating costs were CNY 301.257 million, with an operating cost rate of 80.86%, which increased by 7.35 percentage points compared to the previous year[54] - The real estate sector's revenue was CNY 168.206 million, down 38.72% year-on-year, with a gross margin of 30.01%[56] - The wholesale business generated revenue of CNY 112.999 million, a decrease of 25.54% year-on-year, with a gross margin of 7.26%[56] Business Segments Performance - The electricity and heat production and supply business generated an operating income of 581.15 million RMB, a 32.1% increase year-on-year, with a net profit of 75.93 million RMB, up 22.8%[33] - The real estate business reported a revenue of 1.741 billion RMB, a decrease of 37.5% compared to the previous year, mainly due to reduced sales from the subsidiary Liangzhu[34] - The main business revenue of the import and export company decreased by 25.5% compared to the previous year, but net profit increased by 34.1% due to fluctuations in coal prices[37] Asset Management - The company's net assets attributable to shareholders increased by 6.30% to CNY 3,135,135,177.03 compared to CNY 2,949,320,908.84 in 2020[22] - The company's trading financial assets decreased by 79.54 million RMB during the year, impacting profits by 86.76 million RMB[29] - The company's monetary funds decreased by 5.27% to 174,500 million, compared to 184,209 million at the end of the previous period[64] - The company's investment properties increased by 33.80% to 104,314 million, up from 77,964 million year-on-year[65] - The company's long-term borrowings increased significantly by 1,970.90% to 20,564 million from 993 million in the previous period[67] Strategic Initiatives - The company plans to retain the remaining undistributed profits of CNY 1,392,785,821.76 for future distribution[5] - The company plans to optimize its marketing strategies and adjust sales rhythms to reduce inventory and enhance competitiveness in the real estate sector[39] - The company aims to enhance its comprehensive competitive ability in the real estate sector amid tightening market regulations and increased competition[100] - The company plans to diversify its real estate development from traditional residential projects to include cultural tourism and specialty commercial real estate, enhancing its investment and operational capabilities[113] Environmental Compliance - The company’s subsidiary, the thermal power company, has maintained pollutant emissions below the set limits, with actual emissions of 1.65 mg/m³ for particulate matter, 35.1 mg/m³ for nitrogen oxides, and 6.77 mg/m³ for sulfur dioxide[164] - The total actual emissions for the reporting period were 4.44 tons of particulate matter, 97.3 tons of nitrogen oxides, and 19.41 tons of sulfur dioxide, all within the permitted limits[164] - The company has completed the environmental impact assessment and acceptance work for the high-temperature and high-pressure upgrade project of its 7 furnace and 6 machine[166] Governance and Management - The company has established a performance evaluation and incentive mechanism for senior management, ensuring transparency and compliance with legal regulations[118] - The company has developed a robust investor relations management system to enhance communication with stakeholders and ensure equal access to information[119] - The company has a diverse board with members holding various significant positions in other organizations, enhancing its governance structure[126] - The company has established specialized committees under the board, including audit, nomination, compensation, and strategy committees[138] Shareholder Relations - The company has a clear and transparent cash dividend policy, ensuring that minority shareholders have opportunities to express their opinions[154] - The total number of ordinary shareholders at the end of the reporting period was 29,381, down from 36,336 at the end of the previous month[197] - The largest shareholder, Zhejiang Rongsheng Holding Group Co., Ltd., held 90,417,600 shares, accounting for 29.08% of the total shares[199] Future Outlook - The company plans to achieve a power generation target of 28,000 million kWh and a sales volume of 32,000 million kWh in 2022[107] - The company aims to stabilize its existing market while actively seeking to expand its user base[111] - The company will continue to implement technical upgrades to ensure the advancement of its power and heat production technologies[111]