ITG(SH:600755)2022-04-20 16:00Financial Performance - The company's operating revenue for 2021 reached ¥464.76 billion, a 32.38% increase compared to ¥351.09 billion in 2020[26]. - Net profit attributable to shareholders was ¥3.41 billion, reflecting a 30.61% growth from ¥2.61 billion in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥2.61 billion, up 16.02% from ¥2.25 billion in 2020[26]. - The company's total assets decreased by 13.82% to ¥97.75 billion from ¥113.42 billion in 2020[29]. - The basic earnings per share increased by 33.93% to ¥1.50 from ¥1.12 in 2020[29]. - The weighted average return on equity rose to 17.62%, an increase of 3.21 percentage points from 14.41% in 2020[29]. - The net cash flow from operating activities was ¥7.88 billion, a significant recovery from a negative cash flow of ¥1.68 billion in 2020[26]. - The company reported non-recurring gains of ¥1.74 billion from the disposal of subsidiary equity and government asset transfers[34]. - The net assets attributable to shareholders increased by 11.07% to ¥29.09 billion from ¥26.19 billion in 2020[29]. - The diluted earnings per share rose by 44.23% to ¥1.50 from ¥1.04 in the previous year[29]. - The company's operating revenue for 2021 was approximately ¥464.76 billion, representing a year-on-year increase of 32.38%[82]. - The operating cost for 2021 was approximately ¥456.75 billion, reflecting a year-on-year increase of 32.64%[82]. - The company achieved an investment income of approximately ¥1.05 billion, which is a 58.01% increase compared to the previous year[85]. - The company reported a significant increase in other income by 77.14%, totaling approximately ¥285.69 million[85]. Dividend and Profit Distribution - The company's distributable profit as of December 31, 2021, is RMB 5,836,546,878.23, with a proposed cash dividend of RMB 5 per 10 shares, totaling RMB 1,058,833,028.50, representing a cash dividend ratio of 31.04%[7]. - The total share capital as of March 31, 2022, is 2,117,666,057 shares, which will be the basis for the profit distribution plan[7]. - The company does not plan to increase capital reserves or distribute stock bonuses for the year[7]. Risk Management - The company has outlined potential risks and corresponding countermeasures in the report, which can be found in the management discussion and analysis section[11]. - The company has a comprehensive risk management strategy in place, as detailed in the report[11]. - The company faces risks from intense competition in the supply chain management industry and geopolitical tensions affecting commodity supply chains[140]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[6]. - The company has strengthened insider information management to prevent insider trading effectively[149]. - The company has ensured that all stakeholders, including banks, employees, and customers, have their legitimate rights respected and maintained[149]. - The company has clarified the strategic positioning and business scope of its subsidiaries to reduce or eliminate substantial competition with its controlling shareholder[149]. - The company has a commitment to transparency in information disclosure, ensuring that shareholders can access significant information equally[149]. - The company has appointed several independent directors and executives with extensive experience in finance and management, enhancing its governance structure[165]. - The company is committed to maintaining strong governance practices, as evidenced by the election of independent directors and the establishment of a new supervisory board[170]. Strategic Initiatives - The company is focusing on digital transformation, integrating technologies like 5G, IoT, and AI into its operations[66]. - The company aims to enhance its core competitiveness by integrating digital technologies with supply chain management, focusing on three main business areas: supply chain management, financial services, and health technology[131]. - The company plans to strengthen research and development capabilities and enhance digitalization efforts to support business strategies[136]. - The company aims to deepen its integration into the "dual circulation" strategy, expanding its business presence in central and western regions and RCEP member countries[135]. - The company is actively pursuing strategic partnerships and potential acquisitions to enhance its competitive position in the market[164]. Operational Developments - The company established 18 joint ventures during the reporting period, with a total investment of nearly 1.9 billion RMB[49]. - The company has established a comprehensive logistics network with over 3,000 cooperative management warehouses and a self-managed warehouse area of 2.54 million square meters[75]. - The company has deployed 40 sets of smart inventory management equipment across 14 warehouses, significantly reducing storage costs by up to 80%[52]. - The company has integrated its supply chain services with health technology, focusing on medical devices and elderly care services[73]. - The company is actively exploring innovative financial business models to meet the diverse financing needs of its industrial clients[70]. Leadership and Management Changes - The company appointed new executives, including Gao Shaoyong as Chairman and Wu Yunxuan as President, following the resignation of previous leaders in February 2021[167]. - The company reported a significant leadership change with the election of new board members and the appointment of new vice presidents in May 2021[170]. - The company’s financial management is now overseen by Yu Lijie, who was appointed as Vice President and CFO in March 2022, indicating a focus on strengthening financial oversight[173]. - The company has emphasized the importance of strategic operational management, with the appointment of Chen Chun as Deputy General Manager of Strategic Operations in January 2022[173]. Social Responsibility and Sustainability - The company has implemented a green development strategy, recycling over 500,000 tons of solid waste and reducing timber logging by over 100,000 cubic meters[53]. - The company aims to achieve a "zero-carbon supply chain" through digital technology and has established a "zero-carbon building" in Xiamen[53]. - The company has maintained a focus on social responsibility and actively participates in public welfare initiatives[149]. Meeting and Proposal Approvals - The company held a total of 21 board meetings during the year, with 2 in-person meetings and 15 conducted via communication methods[188]. - The board approved 4 proposals during the ninth meeting, including the 2021 semi-annual report[184]. - The company successfully passed a proposal for early redemption of "Guomao Convertible Bonds" during the tenth meeting[184]. - The audit committee held 8 meetings during the reporting period, focusing on various proposals related to daily related transactions and audit fees[190]. - The audit committee unanimously approved the 2020 annual report, confirming that it accurately reflects the company's operational management and financial status[194].