XSS(SH:600117)2022-04-29 16:00Financial Performance - The company reported a net profit attributable to shareholders of -1,148,607,270.05 yuan for the year 2021, with total distributable profits amounting to -3,186,802,306.02 yuan[6]. - The company's net profit for the parent company was -738,865,025.39 yuan in 2021[6]. - The net profit attributable to shareholders was -¥1,148,607,270.05, a significant decrease of 2,042.28% from a profit of ¥59,137,078.87 in 2020[24]. - The total profit for the year was -¥2,622,562,606.84, a decrease of 1,274.85% from a profit of ¥223,225,465.61 in 2020[28]. - The net profit attributable to the parent company was -¥1,148,607,270.05, down 2,042.28% from ¥59,137,078.86 in 2020[28]. - The company reported an operating loss of -¥2,584,282,461.47, a decline of 1,235.41% compared to an operating profit of ¥227,607,131.68 in 2020[28]. - The company's total assets decreased by 9.58% to ¥18,524,963,007.83 from ¥20,487,202,136.99 in 2020[24]. - The company's cash and cash equivalents decreased by 34.12% to ¥1,110,634,613.76 from ¥1,685,843,751.50 at the beginning of the year[28]. - The company has no plans for future cash dividends or stock bonuses due to its current financial situation[6]. Revenue and Costs - The company's operating revenue for 2021 was ¥12,229,101,621.92, representing a 21.37% increase compared to ¥10,075,510,385.66 in 2020[24]. - Operating costs increased by 27.54% to ¥11,202,823,429.64 from ¥8,783,983,109.39 year-on-year[50]. - The gross profit margin for the steel industry segment decreased by 3.36 percentage points to 7.41% despite a revenue increase of 22.69%[51]. - The total cost for the steel industry was ¥11,621,352,105.41, representing a 32.08% increase from the previous year's ¥8,798,903,050.41[59]. - The company reported a significant increase in financial expenses by 57.09% to ¥652,777,629.77, primarily due to last year's receipt of government interest subsidies[50]. Research and Development - Research and development expenses rose by 47.42% to ¥450,952,026.56, up from ¥305,888,119.23 in 2020, indicating increased investment in product quality and production optimization[28]. - In 2021, the company launched 26 technology innovation projects, resulting in 1 third prize in Qinghai Province for scientific and technological progress, 1 silver patent award, 10 provincial-level scientific achievements, 20 patent applications, and 7 authorized patents[41]. - The company has established a complete R&D platform for special steel new materials in collaboration with institutions like Beihang University and the Chinese Academy of Sciences, enhancing its technological advantages[47]. Market Position and Strategy - The company aims to enhance cost management and efficiency, focusing on maximizing production benefits through a low-cost strategy[37]. - The company adjusted its product structure to improve market competitiveness, leading to a significant increase in the share of high-efficiency products[40]. - The company plans to continue expanding its market presence and product offerings to capture new opportunities and enhance profitability[40]. - The company is positioned to benefit from the "Belt and Road" initiative, with a stable supply of raw materials from resource-rich regions like Qinghai, Xinjiang, and Tibet[47]. - The company anticipates a gradual decline in long-term steel demand due to carbon neutrality goals, while still facing challenges such as high raw material costs and international competition[44]. Environmental Management - The company complies with national pollution discharge standards for various pollutants, including particulate matter, sulfur dioxide, and nitrogen oxides[152]. - The company has achieved a 100% compliance rate for pollutant discharge and has passed national certification for 15 consecutive years, receiving ISO14001 certification[161]. - The company has implemented a comprehensive environmental management system, including 23 management regulations to ensure compliance with environmental standards[164]. - The company has constructed over 50 pollution control facilities, including a wastewater treatment center with a daily capacity of 20,000 tons, achieving 100% recycling of treated wastewater[161]. - The company has developed emergency response plans for environmental incidents, ensuring rapid control and management of potential pollution events[166]. Governance and Compliance - The company has a clear governance structure with defined roles for its board members and management team[115]. - The company has implemented a comprehensive internal control system to enhance governance and decision-making processes[94]. - The company reported no significant differences in governance compared to legal and regulatory requirements[97]. - The company has not faced any penalties from the China Securities Regulatory Commission or public reprimands from the stock exchange in the past three years[121]. - The company’s independent directors attended all board meetings, ensuring full participation in governance[125]. Employee Management - The total number of employees in the parent company and major subsidiaries is 3,643, with 2,682 in the parent company and 961 in major subsidiaries[134]. - The company completed 51 company-level training programs with 3,849 participants and 6,313 internal training programs with 79,692 participants during the reporting period[139]. - The company achieved a year-on-year increase of 4.94% in average employee income, reaching CNY 80,800[182]. - The company maintained a 100% coverage rate for labor contracts, collective agreements, and social insurance participation[182]. - The company has established a comprehensive occupational health and safety management system, ensuring compliance with national regulations and conducting regular health checks for employees[185].