Nisco(SH:600282)2022-03-22 16:00Financial Performance - The company's operating revenue for 2021 was ¥75.67 billion, an increase of 42.45% compared to ¥53.12 billion in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥4.09 billion, reflecting a growth of 43.75% from ¥2.85 billion in 2020[20]. - The net cash flow from operating activities reached ¥4.52 billion, up 76.23% from ¥2.57 billion in 2020[20]. - The total assets at the end of 2021 amounted to ¥57.70 billion, a 20.45% increase from ¥47.91 billion at the end of 2020[20]. - The basic earnings per share for 2021 was ¥0.6664, representing a 20.07% increase from ¥0.5550 in 2020[21]. - The weighted average return on equity for 2021 was 16.49%, an increase of 1.96 percentage points from 14.53% in 2020[21]. - The company reported a net profit of ¥979.69 million in Q1 2021, with total revenue of ¥16.94 billion for the same quarter[23]. - The company achieved a net profit of ¥1.28 billion in Q2 2021, with revenue of ¥21.65 billion[23]. - The company achieved a total sales volume of 1,040.37 million tons in 2021, with the largest segments being engineering machinery and rail transit at 184.81 million tons (17.76%) and automotive bearing springs at 171.80 million tons (16.51%) respectively[52]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3 per 10 shares to all shareholders, excluding the repurchased shares, based on a total share capital of 11,430,000 shares in the repurchase account[4]. - The board of directors has approved the profit distribution plan, which is subject to approval at the annual general meeting[4]. - The company does not plan to increase capital reserves to convert into share capital, and any changes in total share capital before the dividend distribution date will adjust the total distribution amount accordingly[4]. - The company has a plan to extract 10% of the net profit as statutory surplus reserve, amounting to approximately RMB 163.13 million for 2021[177]. - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares for the 2021 fiscal year, totaling approximately RMB 1,847,675,000 based on the current total share capital[177]. Audit and Compliance - The company has received a standard unqualified audit report from Tianheng Accounting Firm, ensuring the authenticity and completeness of the financial report[3]. - The financial report is guaranteed to be true, accurate, and complete by the company's responsible persons, including the accounting supervisor[3]. - There are no non-operating fund occupations by controlling shareholders or related parties, and no violations in decision-making procedures for external guarantees[6]. - The company confirmed that all directors attended the board meeting, ensuring collective responsibility for the report's content[3]. - The internal control system was deemed effective, with a standard unqualified opinion issued by the independent auditor regarding the internal control audit for the 2021 financial report[190]. Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[20]. - The company is focusing on digital transformation, establishing a digital application research institute to enhance smart manufacturing capabilities[30]. - The company is expanding its upstream supply chain by establishing a coke production base in Indonesia with a total planned capacity of 6.5 million tons[31]. - The company has made significant progress in acquiring Wansheng Co., which is expected to become a new revenue growth point[32]. - The company is exploring low-carbon development paths and aims to master key green technologies[127]. - The company is focusing on mergers and acquisitions to increase industry concentration and improve operational efficiency[119]. Research and Development - The company has invested over 3% of its revenue in R&D for several consecutive years, establishing a leading innovation capability in the industry[59]. - A total of 43 achievements have received provincial and ministerial-level science and technology progress awards since 2010, including 4 second-class National Science and Technology Progress Awards[59]. - The company holds 1,219 valid patents, including 462 invention patents, and has received 1 China Patent Excellence Award[59]. - The company developed 39 new products during the reporting period, achieving an 82% sales conversion rate for newly developed products[85]. - Research and development expenses surged by 151.45% to ¥2.13 billion, up from ¥848.91 million, indicating a significant investment in new technologies and products[66]. Environmental Initiatives - The company achieved a total pollutant discharge of 8,995.83 tons in 2021, which is below the government-approved discharge limit of 19,527.70 tons, indicating compliance with environmental standards[195]. - The chemical oxygen demand (COD) discharge was recorded at 145.27 tons, significantly lower than the permitted limit of 311.61 tons[196]. - The company maintained a 100% compliance rate with national clean production standards, with no major environmental pollution incidents reported[193]. - The company has implemented dust removal and desulfurization processes for its gas emissions, contributing to lower pollution levels[193]. - The company has completed the construction of 11 sets of desulfurization and denitrification devices and upgraded 112 dust collectors, enhancing its environmental protection capabilities[198]. Market Trends and Economic Outlook - In 2021, China's GDP grew by 8.1%, with fixed asset investment increasing by 4.9% and manufacturing investment rising by 13.5%[42]. - The global crude steel production reached 1.951 billion tons in 2021, with China's production at 1.033 billion tons, a year-on-year decrease of 3%[43]. - The steel industry in China saw a revenue increase of 32.7% to 6.93 trillion yuan, with total profits rising by 59.7% to 352.4 billion yuan, achieving a sales profit margin of 5.08%[43]. - The company is targeting a revenue growth of 5.5% for 2022, in line with the government's GDP growth target[119]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and demand[144]. Corporate Governance - The company has established a strategic and ESG committee to enhance its sustainable development initiatives[135]. - The company has a robust independent personnel management system, ensuring that senior management does not hold administrative positions in the controlling shareholder's entity[136]. - The company has committed to avoiding competition with its controlling shareholder, as outlined in a commitment letter[137]. - The company’s board has been actively involved in overseeing the execution of related party transactions and ensuring compliance with regulations[162]. - The company has implemented a stock option incentive plan, with specific performance conditions for different vesting periods[158].