CCCCDC(SH:600720)2022-03-17 16:00Financial Performance - The company's operating revenue for 2021 was CNY 7,672,537,568.41, a decrease of 1.78% compared to 2020[15]. - The net profit attributable to shareholders for 2021 was CNY 947,519,310.19, down 34.07% from the previous year[15]. - The basic earnings per share for 2021 was CNY 1.2206, reflecting a decline of 34.06% year-over-year[16]. - The net cash flow from operating activities for 2021 was CNY 1,447,404,485.12, a decrease of 36.45% compared to 2020[15]. - The company's total assets increased by 5.37% year-over-year, reaching CNY 11,590,811,893.86 at the end of 2021[15]. - The weighted average return on equity for 2021 was 11.87%, down 7.89 percentage points from 2020[16]. - The company reported a total profit of CNY 1.21 billion for the year, with a net cash flow from operations of CNY 1.45 billion[22]. - The company experienced a significant increase in raw material costs, impacting net profit and earnings per share[15]. - The net profit attributable to shareholders for the fourth quarter was negative at CNY -6,025,538.03, indicating challenges in the last quarter[18]. - The company's operating revenue for the reporting period was approximately CNY 7.67 billion, a decrease of 1.78% compared to the previous year[27]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 4.50 RMB per 10 shares, totaling 349,330,626.90 RMB, based on a total share capital of 776,290,282 shares[3]. - The remaining profit of 5,044,596,130.45 RMB will be carried forward for distribution in the next fiscal year[3]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[2]. - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[2]. - There are no non-operating fund occupations by controlling shareholders or related parties[4]. - The company has not violated decision-making procedures for external guarantees[4]. - The internal control audit report for 2021 received a standard unqualified opinion, indicating effective internal controls[103]. Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[5]. - The company is facing risks from rising costs due to increased coal and electricity prices, which significantly impact production costs[56]. Market Position and Operations - The company holds a 45% market share in Gansu and 23% in Qinghai, making it the largest cement producer in the Gansu-Qinghai-Tibet region[26]. - The company operates multiple wholly-owned and controlling subsidiaries across various regions, enhancing its market presence[8]. - The company has established 17 cement production bases and operates 9 ready-mixed concrete production bases and 3 aggregate production bases[25]. - The company expanded its coal supply channels to ensure stable production amidst challenging market conditions[22]. Environmental Responsibility - The company has achieved near-zero wastewater discharge, indicating significant progress in environmental management[105]. - The company employs advanced pollution control measures, including the use of electrostatic precipitators and high-efficiency pulse bag filters for dust emissions[106]. - The company is focused on enhancing its environmental performance through continuous improvement in pollution control technologies[107]. - The company invested a total of 126.29 million in ecological environment protection in 2021, focusing on dust collection facilities, denitrification systems, and ecological restoration of mines[114]. Shareholder Engagement and Governance - The company has established a three-year shareholder return plan to ensure the interests of minority investors are maintained[62]. - The performance evaluation and incentive mechanism links senior management compensation to the achievement of operational goals, enhancing motivation[63]. - The company held four shareholder meetings in 2021, with key resolutions including the approval of the 2020 annual financial report and the 2021 financial budget[74]. - The company has committed to a three-year shareholder return plan from 2021 to 2023[74]. Financial Strategy and Investments - The company plans to reach a production capacity of 40 million tons of cement, 50 million tons of aggregates, and 20 million cubic meters of ready-mixed concrete by integrating regional sectors and through mergers and acquisitions[52]. - The company will continue to engage in bank financing and financial institution financing activities in 2022[85]. - The company has a maximum credit line of RMB 300 million from China National Building Material Group Financial Co., Ltd. for the years 2020, 2021, and 2022[127]. Leadership and Management - The company conducted a board and supervisory board reshuffle during the reporting period[78]. - The company reported significant leadership changes, with multiple executives transitioning to new roles within the organization[78]. - The company has expanded its leadership team with new appointments in various roles[80]. - The total remuneration paid to directors, supervisors, and senior management in 2021 amounted to RMB 17.6391 million[82]. Research and Development - In 2021, the company obtained 105 new patents and published 58 papers in national-level journals, contributing to technological innovation[117]. - The company's investment in new technologies and products is ongoing, although specific figures were not disclosed in the report[135].