Chongqing Port (SH:600279)2022-03-25 16:00Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of 67,315,606.59 RMB, a decrease of 23.99% compared to 2020[6]. - The company's operating revenue for 2021 was 5,481,832,867.12 RMB, representing a year-on-year increase of 7.90%[22]. - The net cash flow from operating activities decreased by 30.61% to 535,803,607.36 RMB in 2021[22]. - The total assets as of the end of 2021 were 12,353,611,078.98 RMB, a decrease of 1.64% from the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1,642,624.57 RMB, down 96.33% from the previous year[22]. - Basic earnings per share for 2021 were CNY 0.06, a decrease of 14.29% compared to CNY 0.07 in 2020[23]. - The weighted average return on equity decreased to 1.22% in 2021, down 0.4 percentage points from 1.62% in 2020[23]. - The gross profit margin for the cargo handling and freight forwarding business was 20.04%, a decrease of 11.85 percentage points compared to the previous year[50]. - The total profit reached 128.91 million yuan, meeting 5.67% of the annual plan, but decreased by 15.92% compared to the previous year[37]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.20 RMB per share, totaling 23,737,325.66 RMB, which is 35.26% of the net profit attributable to shareholders[6]. - The independent directors unanimously agreed on the cash dividend proposal, which was approved at the annual shareholders' meeting and implemented in July 2021[120]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 4.8914 million yuan[102]. - The largest shareholder, Chongqing Port Logistics Group Co., Ltd., holds 577,934,762 shares, representing 48.69% of the total shares[160]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders accounting for over 65%[160]. Operational Highlights - The company completed a cargo throughput of 51.63 million tons, achieving 12.2% above the annual plan and a year-on-year growth of 19.1%[37]. - Container throughput reached 117.3 thousand TEUs, exceeding the annual plan by 8.6% and growing by 18.5% year-on-year[37]. - The company expanded its logistics services, achieving an 18% growth in full-chain logistics for bulk goods[40]. - The company opened new container routes, resulting in a 40.3% increase in container transport volume year-on-year[38]. - The company is actively enhancing its port functions, with significant progress in the construction of the Guoyuan Port area and other key port projects[41]. Investments and Future Plans - The company plans to invest approximately ¥140.36 million in the construction of a new chemical terminal project, with a designed throughput capacity of 3.16 million tons per year[67]. - The company aims to cultivate two 1 million-ton clients and one 500,000-ton client to enhance its market presence[80]. - The company plans to operate over 600 railway trains on the new international routes through Guoyuan Port in 2022[81]. - The company is focused on deepening enterprise reform, including optimizing performance assessments and talent management strategies[84]. - The company aims to create 2 four-star green ports and enhance the use of clean energy in port operations[86]. Risk Management and Compliance - The company will implement a risk management strategy to control trade risks and improve contract management processes[82]. - The company is committed to improving safety measures in compliance with the new Production Safety Law and will implement a comprehensive safety production system[86]. - The company has not reported any significant risks or dissenting opinions from the supervisory board during the reporting period[115]. - The company has established a commitment to standardize related party transactions with its controlling shareholder, agreeing to bear any losses caused by violations of this commitment[138]. Governance and Management - The company has a diverse management team with extensive experience in various sectors, including logistics and finance[96]. - The company is focused on maintaining a stable governance structure with independent directors contributing to oversight[96]. - The company has a structured approach to remuneration decision-making involving the board and shareholders[101]. - The company held 10 board meetings in the year, with 1 in-person meeting and 8 conducted via communication methods[107]. - The company’s board of directors includes a Strategic Committee, Audit Committee, Nomination Committee, and Compensation and Assessment Committee[108]. Legal and Regulatory Matters - The company faced a significant lawsuit where it requested the defendant to pay RMB 4,277,203.33 in interest and RMB 12,340,000 for devaluation losses related to oil auction[147]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2021[177]. - The company has adhered to the new leasing standards issued by the Ministry of Finance in December 2018, affecting its accounting policies[143]. Asset Management - The company has no significant changes in controlling shareholders during the reporting period, ensuring continuity in governance[165]. - The total liabilities to equity ratio improved from 0.84 in 2020 to 0.81 in 2021, indicating a stronger equity position relative to liabilities[196]. - Total current assets decreased from CNY 2,828,599,544.62 in 2020 to CNY 2,353,856,733.07 in 2021, a decline of approximately 16.7%[195]. - The company reported a total revenue of 5,481.83 million yuan for the year 2021, reflecting the importance of revenue recognition accuracy[181].