NXBM(SH:600449)2022-03-18 16:00Financial Performance - The company's operating revenue for 2021 was ¥5,782,740,814.03, representing a 13.17% increase compared to ¥5,109,674,273.64 in 2020[20]. - The net profit attributable to shareholders of the listed company for 2021 was ¥801,242,456.09, a decrease of 16.96% from ¥964,863,206.91 in 2020[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥733,594,835.65, down 20.52% from ¥923,036,537.84 in 2020[20]. - The net cash flow from operating activities increased by 22.05% to ¥1,330,197,252.95 in 2021, compared to ¥1,089,879,941.27 in 2020[20]. - Basic earnings per share decreased by 16.83% to CNY 1.68 compared to CNY 2.02 in the previous year[24]. - The weighted average return on net assets decreased by 3.98 percentage points to 12.37%[24]. - The operating profit was 1.04 billion yuan, a decrease of 15.57% year-on-year[39]. - The company reported a significant decrease in non-operating income by 79.37% to ¥7,696,748.38, largely due to reduced government subsidies[41]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥5.4 per 10 shares, totaling ¥258,217,762.68, which accounts for 32.23% of the net profit attributable to shareholders[4]. - The company did not issue any bonus shares or convert capital reserves into share capital in 2021[4]. - The board has approved a dividend payout of 0.5 CNY per share, reflecting a commitment to returning value to shareholders[117]. - The cash dividend policy stipulates that the company will distribute at least 30% of the average distributable profit over the last three years if profits are available and cash flow supports normal operations[146]. Operational Developments - The company registered a total of 830,000 vehicles on its "Smart Logistics" platform, representing a year-on-year growth of 121%[29]. - The company is constructing a new production line with a daily capacity of 4,000 tons of new type second-generation cement clinker as part of its low-carbon development strategy[29]. - The company aims to improve production efficiency and reduce costs through technological upgrades and smart factory initiatives[38]. - The company is focusing on green and intelligent development in the cement industry, aligning with national policies[32]. - The company is committed to eliminating backward production capacity and promoting industry consolidation[32]. Market and Industry Context - The company holds nearly 50% market share in the Ningxia cement market, being the largest cement producer in the region[33]. - The average national cement price reached ¥486 per ton, a 10.7% increase from the previous year, influenced by rising production costs and supply constraints[65]. - The cement industry reported total revenue of ¥1,075.4 billion, a 7.3% year-on-year growth, while total profit decreased by 10.0% to ¥169.4 billion[75]. - Cement production in China decreased by 1.2% year-on-year to 2.363 billion tons, with significant declines in Northeast and Southwest regions, down 8.6% and 8.5% respectively[63]. Environmental and Sustainability Initiatives - The company has established 32 emission outlets for major pollutants, including particulate matter, sulfur dioxide, and nitrogen oxides, with total emissions in 2021 being 410.46 tons for particulate matter, 328.75 tons for sulfur dioxide, and 5886.6 tons for nitrogen oxides, all within the permitted limits[158]. - In 2021, the company completed ultra-low emission renovations for two cement clinker lines, achieving nitrogen oxide emissions below 100 mg/m³, thus enhancing clean production levels[159]. - The company has added 2 new green factories in 2021, bringing the total to 7 green factories, including 5 national-level and 2 provincial-level[171]. - The company has implemented a smart bagging system for cement loading, effectively reducing dust emissions and improving working conditions[166]. - The company has actively engaged in pollution prevention measures, including dust control and waste management, to improve overall environmental performance[171]. Corporate Governance and Management - The company has established a robust internal control system to ensure compliance with governance standards and improve operational transparency[105]. - The company maintains independence from its controlling shareholder, ensuring no asset occupation or interference in operational decisions[104]. - The company has successfully held multiple shareholder meetings, with all resolutions passed, ensuring shareholder rights are upheld[109]. - The total pre-tax remuneration for the board members amounted to CNY 1,563.74 million for the reporting period[112]. - The company has a total of 8 board members, with 3 independent directors[112]. Research and Development - Research and development expenses surged by 284.62% to ¥17,961,587.26, indicating increased investment in R&D projects[40]. - The company has 293 R&D personnel, accounting for 10.61% of total employees, with a significant increase in R&D expenses by 284.62% compared to the previous year[55]. - The company is investing in new technology development, allocating 50 million CNY for R&D initiatives in the upcoming year[117]. Strategic Acquisitions and Investments - The company completed the acquisition of 55% equity in Southern IoT for a cash consideration of 17.2944 million RMB, which has been consolidated into the financial statements[49]. - The company completed the acquisition of 100% equity in Saima Internet of Things for CNY 12.96 million, based on a net asset value of CNY 54.02 million as of November 30, 2020[78]. - The company plans to raise funds through a capital increase for its subsidiary, Saima IoT Technology, primarily for the technological iteration and application development of its "I Find Car" modern logistics platform[136]. Challenges and Risks - The company faces significant market competition risks due to regional overcapacity and insufficient market demand, necessitating enhanced product quality control and service quality[100]. - Rising costs from coal and electricity price increases pose a risk to cement production costs, prompting the company to strengthen market analysis and centralized procurement[100]. - Environmental policies related to carbon reduction present challenges, leading to increased investment in energy-saving and emission-reduction technologies[100].