ZPMC(SH:600320)2022-04-13 16:00Financial Performance - The company's operating revenue for 2021 was RMB 25,977,976,968, representing a 14.67% increase compared to RMB 22,655,141,652 in 2020[15]. - The net profit attributable to shareholders of the listed company was RMB 439,839,245, a 4.17% increase from RMB 422,240,299 in the previous year[15]. - The net cash flow from operating activities increased by 158.69%, reaching RMB 2,119,639,518 compared to RMB 819,389,020 in 2020[15]. - The total assets as of the end of 2021 were RMB 78,332,081,199, a decrease of 1.25% from RMB 79,320,644,540 at the end of 2020[15]. - The company's net assets attributable to shareholders at the end of 2021 were RMB 14,990,218,631, reflecting a 2.88% increase from RMB 14,570,822,140 in 2020[15]. - The basic earnings per share for 2021 were RMB 0.08, unchanged from 2020[16]. - The weighted average return on net assets was 2.90%, a decrease of 0.14 percentage points from 3.04% in 2020[17]. - The total amount of non-recurring gains and losses in 2021 was RMB 880.03 million, compared to RMB 480.70 million in 2020[19]. - The company reported a significant increase in investment income, which rose by 211.10% to RMB 1.29 billion, mainly from the disposal of financial assets[37]. - The company reported a significant increase in revenue, achieving a total of $X billion, representing a Y% growth compared to the previous year[81]. Market Expansion and Business Development - The new contract amount for port machinery business was USD 3.209 billion, a growth of 9.4% compared to the previous year[24]. - The new contract amount for offshore engineering and steel structure-related businesses was USD 1.145 billion, an increase of 10% year-on-year[24]. - The company successfully entered the global market in 105 countries and regions with its port machinery products[26]. - Major project orders were signed in offshore engineering, including wind power operation vessels and crane systems[26]. - The bridge business maintained rapid development, completing significant projects such as the world's largest span mountain suspension bridge[26]. - The company is actively pursuing market expansion and has signed major contracts, including a USD 282.56 million project in Sri Lanka[42][43]. - The company is focusing on high-end, intelligent, and green equipment manufacturing, with ongoing breakthroughs in core technologies and digital transformation[33]. - The company is exploring new business avenues related to port machinery equipment upgrades, aiming to capture a larger market share in value-added services[68]. - The company is expanding its logistics capabilities with the establishment of distribution centers in South Asia, North Africa, and Israel[70]. Research and Development - The company applied for 295 patents in 2021, including 145 invention patents, and achieved significant recognition in technology advancement awards[34]. - Research and development expenses increased by 19.75% to RMB 883 million, driven by higher spending on capitalized R&D projects[37]. - The number of R&D personnel is 1,446, making up 17.5% of the total workforce[49]. - The company is investing $G million in R&D for new technologies, aiming to launch products by Q1 of next year[81]. Environmental Compliance and Sustainability - The total permissible emissions for major pollutants during the reporting period included 0.1447 tons of sulfur dioxide, 1.4396 tons of nitrogen oxides, 70.901 tons of particulate matter, and 332.944 tons of VOCs[110]. - Actual emissions in 2021 were 0.0115 tons of sulfur dioxide, 0.1067 tons of nitrogen oxides, 60.481 tons of particulate matter, and 196.7 tons of VOCs, all within the permitted limits[110]. - The company has implemented effective monitoring and reporting mechanisms to ensure compliance with environmental standards[110]. - The company has a distributed photovoltaic power generation system with a total installed capacity of 29.98 MW, generating 26 million kWh in 2021, reducing CO2 emissions by approximately 20,000 tons[125]. - The company has committed to social responsibility initiatives, including a donation of 300,000 yuan to support poverty alleviation efforts[128]. Corporate Governance and Management - The company held four shareholder meetings in 2021, all conducted in compliance with relevant laws and regulations[75]. - The total pre-tax remuneration for all listed executives amounted to CNY 1,540,030[78]. - The company has a structured approach to remuneration, combining base salary with performance-based incentives linked to quantifiable operational metrics[86]. - The company has established a management system to identify systemic risks and optimize its business structure and profit model[71]. - The company has undergone significant changes in its board of directors, with multiple appointments and resignations throughout the year[90]. Financial Position and Ratios - The current ratio improved to 1.24 in 2021 from 0.96 in 2020, reflecting a 29.17% increase[177]. - The quick ratio increased to 0.45 in 2021, up 28.57% from 0.35 in 2020[177]. - The debt-to-asset ratio decreased to 77.47% in 2021 from 78.47% in 2020, a reduction of 1.00%[177]. - The cash interest coverage ratio significantly improved to 1.81 in 2021, a 206.78% increase from 0.59 in 2020[177]. - The balance of inventory as of December 31, 2021, was 23.25 billion RMB, with a provision for inventory impairment of 1.17 billion RMB[182]. Related Party Transactions - The company reported a total of 994,667,412 RMB in project revenue from related party transactions[139]. - The revenue from related party transactions with China Road and Bridge Corporation amounted to 994,667,412 RMB, accounting for 4.3% of similar transaction amounts[139]. - The revenue from related party transactions with China Communications Construction Company Limited was 567,936,071 RMB, accounting for 2.4% of similar transaction amounts[139]. Challenges and Risks - The company faces market risks due to macroeconomic fluctuations and cautious capital investments from upstream clients in the shipping industry[71]. - Financial risks include interest rate and exchange rate fluctuations, with strategies to manage these risks through dynamic funding assessments and forward exchange rate locks[71]. - The company is addressing the challenges of rising operational costs while maintaining a resilient economic foundation[63].