ACC(SH:600585)2022-03-25 16:00Financial Performance - The company's net revenue for 2021 was CNY 167,952,664, a decrease of 4.73% compared to CNY 176,294,715 in 2020[11]. - The net profit attributable to shareholders for 2021 was CNY 33,267,069, down 5.38% from CNY 35,158,225 in 2020[14]. - The basic earnings per share for 2021 was CNY 6.28, a decrease of 5.38% from CNY 6.63 in 2020[14]. - The company's cash flow from operating activities for 2021 was CNY 33,900,529, a decrease of 2.65% from CNY 34,822,098 in 2020[14]. - The total profit fell by 6.41% to 44.12 billion yuan year-on-year[31]. - The operating profit decreased by 6.89% to 43.11 billion yuan compared to the previous year[31]. - The company's total liabilities for 2021 were CNY 38,806,828, an increase from CNY 33,391,198 in 2020[11]. - The weighted average return on equity for 2021 was 19.23%, down from 23.59% in 2020, reflecting a decrease of 4.36 percentage points[14]. - The company's main business revenue reached 148.22 billion yuan, a year-on-year increase of 0.18%[31]. Dividend Policy - The company reported a cash dividend of RMB 2.38 per share (including tax) for the 2021 fiscal year[2]. - The proposed final dividend for 2021 is 2.38 CNY per share, amounting to 1,261,234,000 CNY, which represents 37.91% of the net profit attributable to ordinary shareholders[75]. - The company has a cash dividend policy ensuring at least 10% of the distributable profit is distributed as cash dividends annually[72]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG[2]. - The company emphasizes the importance of accurate and complete financial reporting, with key management personnel confirming the report's integrity[2]. - The company has complied with all relevant laws and regulations that significantly impact its operations as of December 31, 2021[87]. - KPMG provided a standard unqualified opinion on the effectiveness of the internal control audit for the financial report as of December 31, 2021[153]. Risk Factors - The company faces potential risks in 2022, including policy risks, environmental regulation risks, energy price fluctuations, and international pandemic risks[3]. - The company faces risks related to dependence on the construction industry, potential increases in production costs due to carbon reduction initiatives, and uncertainties in overseas project implementation due to the pandemic[50][51]. Environmental Responsibility - The company is committed to environmental responsibility, with no reported exceedances of pollutant discharge standards across its key subsidiaries[163]. - The company has implemented pollution discharge standards DB34/3576-2020 across its operations[164]. - The company maintains compliance with environmental regulations, showing no exceedance in emissions across various pollutants[164]. - The company is focused on maintaining compliance with environmental regulations while optimizing production processes[166]. - The company has implemented measures to ensure that all emissions are within regulatory standards, with no exceedances reported[166]. Corporate Governance - The company has maintained a clear governance structure since its listing in 1997, ensuring independent and efficient decision-making processes[88]. - The current board includes 11 members, with a mix of executive and independent directors, ensuring diverse oversight and governance[92]. - The company has ensured complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations, supporting independent decision-making processes[90]. - The board of directors held a total of 3 in-person meetings and 4 conference calls during the reporting period, resulting in 117 resolutions[129]. Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[11]. - The company aims to enhance its market share by optimizing resource allocation and strengthening terminal market construction[48]. - The company is investing 500 million yuan in research and development to innovate in sustainable materials[106]. - The company is actively exploring renewable energy sources, including photovoltaic power generation and biomass alternative fuels[179]. Acquisitions and Investments - The company successfully acquired multiple cement projects, including Guangdong Hongfeng and Guizhou Xinshuanglong, and completed the acquisition of 19 photovoltaic power stations and 3 energy storage stations[24]. - The company established a new subsidiary, Anhui Haibo Intelligent Technology Co., Ltd., in Shanghai with a registered capital of 200 million RMB, holding 100% equity[52]. - The company acquired 100% equity of Hami Hongyi after purchasing a 20% stake from Hongyi Investment Co., Ltd.[52]. - The company has approved capital commitments totaling CNY 11.40 billion as of December 31, 2021, compared to CNY 5.22 billion in the previous year[45]. Employee and Management - The company employed a total of 46,714 staff, including 30,392 production personnel and 10,355 technical staff[121]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 19,931,534[117]. - The company has implemented a performance-based salary system for middle and senior management, linking annual income to key performance indicators[121]. Research and Development - Research and development expenses surged by 103.52% year-on-year, primarily due to increased investments in energy-saving and environmentally friendly technologies[37]. - New product development includes the launch of a state-of-the-art cement production technology, which is projected to enhance production efficiency by 25%[103]. Market and Sales - The net sales volume of cement and clinker was 409 million tons, a year-on-year decrease of 9.76%[27]. - The sales revenue from self-produced cement was 111.65 billion yuan, an increase of 4.46% year-on-year[27]. - Export sales volume decreased by 43.32%, with sales revenue down 50.15% year-on-year[29].