AVIC I.F(SH:600705)2022-03-21 16:00Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of approximately 4.47 billion yuan, representing a year-on-year increase of 30.02%[6]. - The company's operating revenue for 2021 was CNY 10,559,065,952.50, an increase of 2.24% compared to 2020[18]. - Net profit attributable to shareholders for 2021 reached CNY 4,471,066,324.17, reflecting a year-on-year growth of 36.56%[18]. - The total profit for 2021 was 7.49 billion RMB, reflecting a year-on-year growth of 9.68%[28]. - The net profit after deducting non-recurring gains and losses was CNY 4,409,570,619.34, which is a 51.57% increase from the previous year[18]. - The company's total operating revenue for 2021 was approximately ¥19.08 billion, a year-on-year increase of 4.05%[28]. - The weighted average return on equity for 2021 was 10.17%, an increase of 0.25 percentage points compared to 2020[19]. - The net cash flow from operating activities for 2021 was CNY 45,212,138,114.40, a significant increase of 350.57% compared to 2020[18]. - Basic earnings per share for 2021 were CNY 0.51, up 37.84% from CNY 0.37 in 2020[19]. Dividends and Shareholder Returns - The company distributed a cash dividend of 1.52 yuan per 10 shares, totaling approximately 1.34 billion yuan, which accounts for 30.02% of the net profit attributable to shareholders[6]. - The company plans to implement a shareholder return plan for the next three years (2021-2023) as part of its strategic initiatives[107]. Business Strategy and Development - The company is focusing on digital transformation, light capital operation, and systematic development to enhance its comprehensive competitiveness[2]. - The company aims to increase support for small and medium-sized enterprises, technological innovation, and green development[3]. - A strategic plan for the "14th Five-Year Plan" and long-term development through 2035 has been established, emphasizing digitalization and systematic services[29]. - The company is committed to supporting the national aerospace and military development, as well as the dual carbon goals and digital economy initiatives[3]. - The company aims to enhance its "financial + industry" development model, focusing on three major business platforms: aviation industry investment, comprehensive finance, and aviation-related industry investment[85]. - The company plans to accelerate the optimization of its business structure in response to the implementation of new asset management regulations[3]. Risk Management and Compliance - The company has established a board-level risk control and compliance committee to enhance its risk management framework, with no major risk events occurring during the year[33]. - The company emphasizes the importance of risk control and financial risk prevention in its operational strategies[86]. - The company has implemented a comprehensive risk management framework focusing on credit, market, liquidity, and operational risks, enhancing overall risk control measures[57]. - The liquidity risk management system has been refined, emphasizing proactive monitoring and management of liquidity gaps and ensuring compliance with regulatory requirements[57]. Market Position and Industry Insights - The company's aircraft leasing assets ranked 13th globally, reflecting its strong position in the market[2]. - The trust company's business income ranked 7th in the industry, indicating significant progress in its financial services[2]. - The financing leasing industry is experiencing a slowdown, with a decrease in contract balances due to regulatory pressures and weak overall financing demand[34]. - The trust industry is transitioning from "quantity" to "quality," with a focus on active management and a significant increase in the proportion of actively managed products[34]. - The securities industry is undergoing major reforms, including the implementation of a stock issuance registration system, which is reshaping the investment ecosystem[34]. Investment and Capital Management - The company plans to enhance its capital strength by increasing investments in subsidiaries, with a 2 billion RMB capital injection into both AVIC Trust and AVIC Securities[29]. - The company has established an aviation industry integration development fund with a total scale of RMB 10.101 billion, with the company contributing RMB 3 billion as a limited partner[79]. - The company has completed a total equity investment of RMB 5.844 billion during the reporting period, including a capital increase of RMB 2 billion to its subsidiary AVIC Trust and the acquisition of 50% equity in AVIC Anbang Property Insurance for RMB 703.06 million[78]. Corporate Governance - The company has a structured governance framework in place, adhering to relevant laws and regulations to enhance operational transparency[90]. - The company’s board of directors includes a mix of independent and non-independent members, ensuring diverse governance[98]. - The company held six shareholder meetings in 2021, with all resolutions passed without any dissenting votes[96]. - The company has established a risk management and compliance committee as part of its governance structure[106]. Legal and Regulatory Matters - The company has not faced any major litigation or arbitration matters during the year[144]. - The company has incurred legal fees of RMB 500,000 in the process of debt collection[146]. - The ongoing litigation has been transferred to the Wuhan Intermediate People's Court for centralized jurisdiction[146]. - The company has filed a lawsuit against multiple defendants, including insurance companies, related to the pledged gold[146]. Environmental, Social, and Governance (ESG) Initiatives - The company supported 191 green industry projects in 2021, a year-on-year increase of 42.54%, with total funding amounting to 40.4 billion yuan, up 67.49%[31]. - The ESG asset management scale exceeded 4.1 billion yuan, reflecting a significant year-on-year growth of 311.41%[31]. - The company ranked 17th in the central enterprise ESG Pioneer 50 Index and achieved an AA rating in the Wind ESG rating, leading the financial industry[32]. Employee and Management Practices - The company has a comprehensive compensation policy that links pay to performance, with a focus on both immediate and long-term incentives for management[116]. - The company has implemented a cash dividend policy, which was revised in accordance with regulations, ensuring clear conditions and decision-making processes for profit distribution[119]. - The total remuneration paid to the chairman, executive directors, independent directors, employee supervisors, and senior management amounted to 5.7189 million yuan[103]. Bond Issuance and Financial Instruments - The company issued a total of 11.5 billion RMB in corporate bonds, with an interest rate of 3.05% and a maturity date of March 1, 2025[174]. - The company has issued 9 billion RMB in corporate bonds with an interest rate of 3.65%, maturing on April 20, 2024[174]. - The company has consistently met its debt obligations, indicating strong financial management and stability across its subsidiaries[178][179]. - The company is actively pursuing green financing options to support sustainable development initiatives[176].