Shentong Metro(SH:600834)2022-04-27 16:00Financial Performance - Basic earnings per share for 2021 were 0.151637 yuan, a decrease of 1.94% compared to 2020 [21]. - The weighted average return on equity was 4.64%, down by 0.26 percentage points from the previous year [21]. - The company's operating revenue for 2021 was CNY 348,499,297.51, representing a 15.64% increase compared to CNY 301,365,210.15 in 2020 [22]. - The net profit attributable to shareholders for 2021 was CNY 72,388,872.87, a slight decrease of 1.94% from CNY 73,820,341.02 in 2020 [22]. - The net cash flow from operating activities for 2021 was CNY 618,193,361.46, a significant improvement from a negative CNY 115,519,738.17 in 2020, marking a 635.14% increase [22]. - The total assets at the end of 2021 were CNY 2,945,440,768.51, up 3.52% from CNY 2,845,175,583.15 at the end of 2020 [33]. - The net assets attributable to shareholders increased by 3.23% to CNY 1,583,703,325.55 at the end of 2021, compared to CNY 1,534,113,305.63 at the end of 2020 [22]. - The company's total share capital remains unchanged after the dividend distribution [4]. - The company reported a total revenue of 3,146 million CNY for the year, maintaining the same level as the previous year [134]. Cash Dividends - The company distributed a cash dividend of 0.46 yuan per 10 shares, totaling approximately 21.96 million yuan, which accounts for 30.34% of the net profit attributable to shareholders for the year [4]. - The company maintains a cash dividend policy, distributing at least 30% of the net profit attributable to shareholders as cash dividends annually [157]. - The company prioritizes cash dividends over stock dividends in its profit distribution policy [158]. - The cash dividend distribution complies with the company's articles of association, ensuring the protection of minority shareholders' rights [161]. Operational Highlights - The company achieved operating revenue of approximately 230 million RMB and a net profit of about 13.3 million RMB in 2021 [44]. - The company reported a quarterly revenue of CNY 98,504,873.89 in Q4 2021, showing a consistent growth trend throughout the year [24]. - The operating costs for 2021 were CNY 245,855,914.93, which is a 10.51% increase from CNY 222,480,161.83 in 2020 [33]. - The company achieved a significant turnaround in cash flow from operating activities, primarily due to the early settlement of sale-leaseback projects [34]. Market Expansion and Projects - The company is actively expanding its market presence, having signed an operation service contract for Shenzhen Airport and negotiated a memorandum for a project in Makati, Philippines [44]. - The company is focusing on renewable energy projects, including distributed photovoltaic power generation and charging stations for electric vehicles [38]. - The company is leveraging its rooftop resources for photovoltaic projects, aiming to meet the energy demands of the Shanghai Metro network [42]. - The company has established a joint venture with Shanghai Electric Group, investing 24.5 million RMB to set up a maintenance joint venture [39]. Risk Management and Compliance - The company has outlined potential risks in its annual report, urging investors to pay attention [6]. - The company confirmed no non-operational fund occupation by controlling shareholders or related parties [5]. - There were no violations of decision-making procedures regarding external guarantees [5]. - The company has established a comprehensive governance structure, ensuring compliance with relevant laws and regulations [127]. Corporate Governance - The company was recognized as one of the top 133 listed companies in China for its ESG practices among over 4,000 listed companies [129]. - The company completed the implementation of internal control standards in accordance with the guidelines from the Ministry of Finance and the China Securities Regulatory Commission [129]. - The company’s risk management committee was renamed to the Internal Control Compliance and Risk Management Committee, with updated responsibilities outlined in the company’s articles of association [129]. - The company has a clear succession plan in place for its leadership roles [136]. Leadership and Management Changes - The company has seen a leadership transition with the appointment of Ye Tong as the new chairperson, effective December 8, 2021 [135]. - The company appointed Ye Tong as the chairman of the board and removed Yu Guangyao from the position [136]. - The company reported a significant management change with the removal of Wei Jing from the position of vice general manager [137]. - The company has a strategic committee led by Ye Tong, focusing on the implementation of strategic initiatives [136]. Environmental and Social Responsibility - The company actively participated in poverty alleviation efforts, procuring approximately 5 million yuan and 2.65 million yuan worth of agricultural products from targeted poverty alleviation areas in 2020 and 2021, respectively [169]. - The company received an award for its "Metro + Photovoltaic" demonstration project, highlighting its commitment to renewable energy and sustainable development [168]. - The company invested in renewable energy projects, generating 26.337 million kWh from photovoltaic projects in 2021, saving approximately 7,585.1 tons of standard coal and reducing CO2 emissions by about 11,061.5 tons [167]. Future Outlook - The company plans to implement three solar power projects in 2022, aiming for grid connection by the end of the year [113]. - The company will focus on expanding its "financing leasing + factoring" business, targeting the supply chain finance of Shanghai Metro [113]. - The company aims to enhance its investment management system and project management processes in 2022 [114]. - The company expects to incur a maximum of RMB 91.91 million in related party transactions for the year 2021, with actual transactions amounting to RMB 90.92 million [182].