BYIS(SH:600581)2022-04-11 16:00Financial Performance - In 2021, the company achieved a revenue of ¥30,879,274,018.20, representing a 33.62% increase compared to ¥23,109,679,904.54 in 2020[24]. - The net profit attributable to shareholders was ¥1,181,201,785.93, a significant increase of 257.67% from ¥330,248,424.56 in the previous year[24]. - The basic earnings per share rose to ¥0.771, up 258.60% from ¥0.215 in 2020[25]. - The company reported a net profit for 2021 of 1.221 billion RMB, a significant year-on-year growth of 252.81%[33]. - The company achieved a total revenue of 30.8 billion RMB, representing a year-on-year increase of 33.62%[33]. - The company reported a significant increase in financing activities, with net cash flow from financing activities amounting to approximately CNY 468 million, compared to CNY 10.63 million in the previous year[41]. - The company reported a net loss of CNY 41,379,221.15 for 2021, compared to a larger loss of CNY 1,185,843,695.44 in 2020, showing an improvement in financial performance[199]. Assets and Liabilities - The company's total assets increased by 4.24% to ¥31,171,017,892.76 at the end of 2021, compared to ¥29,901,954,987.24 at the end of 2020[24]. - The company's total assets grew to CNY 27,296,060,747.16, up from CNY 22,444,779,052.59, representing a growth of 21.5%[199]. - Total liabilities increased to ¥26.78 billion in 2021 from ¥24.55 billion in 2020, reflecting a growth of around 9.1%[195]. - The company's equity attributable to shareholders decreased to ¥4.27 billion in 2021 from ¥5.25 billion in 2020, a drop of about 18.7%[195]. - Current assets decreased to ¥9.35 billion in 2021 from ¥9.89 billion in 2020, a decline of about 5.4%[194]. - Long-term borrowings decreased significantly to ¥210.82 million in 2021 from ¥870.38 million in 2020, a decline of approximately 75.8%[194]. Cash Flow - The company reported a net cash flow from operating activities of ¥219,586,807.91, a decrease of 90.24% compared to ¥2,249,110,183.28 in 2020[24]. - The company reported a decrease in cash flow from operating activities, with a net cash flow of approximately CNY 219.59 million, down 90.24% from CNY 2.25 billion in the previous year[41]. - Cash and cash equivalents decreased by 52.05% to ¥1,206,262,954.13 from ¥2,515,566,674.64[56]. Production and Operations - The company produced 5.96 million tons of pig iron, 6.42 million tons of steel, and 6.21 million tons of finished products, with respective increases of 5,000 tons, 17,000 tons, and 24,000 tons compared to the previous year[33]. - The company plans to produce 5.9 million tons of iron, 6.25 million tons of steel, and 6 million tons of materials in 2022, with a revenue target of RMB 31.7 billion[73]. - The company completed fixed asset investments of RMB 590 million in 2021, focusing on key projects such as low-carbon metallurgy engineering[68]. Research and Development - Research and development expenses surged by 95.21% to approximately CNY 423.54 million, up from CNY 216.97 million in the previous year, indicating a strong focus on innovation[41]. - The company’s total research and development expenditure was ¥423,542,981.36, which represents 1.4% of total revenue[54]. - The company is focusing on low-carbon green metallurgy projects to enhance its competitive advantage[34]. Environmental Initiatives - The company is committed to enhancing its green manufacturing capabilities and aims for zero emissions in its production processes[35]. - The company has implemented measures to enhance environmental performance and reduce carbon emissions as part of its commitment to sustainable development[121]. - The company achieved a 10% reduction in emissions by using hydrogen-rich carbon cycle blast furnace technology[123]. - The company completed 14 environmental protection projects, including upgrades to dust removal systems and nitrogen oxide reduction technologies[116]. Governance and Management - The company has a clear governance structure with designated roles for its board members and management team[89]. - The company has implemented a cash dividend policy, establishing a stable dividend mechanism to protect investors' rights, with a new three-year shareholder return plan for 2021-2023[106]. - The governance structure has been continuously improved, ensuring compliance with relevant laws and regulations, and enhancing operational transparency[79]. - The company held multiple shareholder meetings in 2021, adhering to procedural requirements and ensuring effective decision-making[80]. Related Party Transactions - The company engaged in significant related party transactions, raising risks of inadequate disclosure and non-arm's length pricing[184]. - The company emphasizes fair and reasonable pricing in related transactions, adhering to national pricing standards where applicable[155]. - The company has committed to reducing and regulating related party transactions to protect the interests of shareholders[129]. Market Position and Strategy - The company maintained a strong brand presence, being recognized as the largest steel listed company in Xinjiang and a key player in the northwest region[40]. - The company is actively pursuing low-carbon metallurgy technology advancements, positioning itself as a leader in green technology within the steel industry[40]. - The company plans to continue expanding its market presence and enhancing its production capabilities, with a focus on smart manufacturing and digital transformation[40].