创业环保(600874) - 2021 Q4 - 年度财报

Financial Performance - The net profit attributable to the parent company for 2021 was RMB 693,187,998.85, with a legal surplus reserve of RMB 58,281,246.28 deducted, resulting in a distributable profit of RMB 4,577,680,726.37[7] - The cash dividend proposed for 2021 is RMB 1.46 per share (including tax), totaling RMB 208,375,350.78, which accounts for 30.06% of the distributable profit[7] - The total undistributed profit at the beginning of the year was RMB 4,114,041,385.40[7] - The company's operating revenue for 2021 was CNY 453,557.90 million, representing a 34.83% increase compared to CNY 336,387.40 million in 2020[26] - The net profit attributable to shareholders for 2021 was CNY 69,318.90 million, a 21.60% increase from CNY 57,003.90 million in 2020[26] - The net cash flow from operating activities for 2021 was CNY 93,680.80 million, showing a significant increase of 75.95% from CNY 53,243.60 million in 2020[26] - The total assets at the end of 2021 were CNY 2,106,529.20 million, which is a 12.03% increase from CNY 1,880,296.90 million at the end of 2020[26] - The basic earnings per share for 2021 was CNY 0.49, up 22.50% from CNY 0.40 in 2020[27] - The company reported a weighted average return on equity of 10.11% for 2021, an increase of 1.16 percentage points from 8.95% in 2020[30] - The total profit amounted to 89,605.9 million RMB, an increase of 24.77% year-on-year[50] Operational Highlights - The company successfully secured multiple wastewater treatment projects, expanding its wastewater treatment rights scale, including the Tianjin Xiqing Dasi project and the PPP project in Jieshou City[37] - The company achieved a technology transformation with 55 completed technology projects, resulting in an economic benefit of approximately CNY 151.71 million from technology achievements[40] - The company established a smart operation management system, enhancing management efficiency through various modules such as water quality warning and energy consumption management[37] - The company acquired two hazardous waste projects, establishing a new pattern in hazardous waste treatment across northern and southern regions[37] - The company expanded its wastewater treatment capacity by 80,000 cubic meters per day, bringing the total to approximately 560.46 million cubic meters per day[45] - The company added 106.6 million square meters of heating service area in its new energy cooling and heating business, totaling 311 million square meters[45] - The hazardous waste disposal capacity increased to 12.8 million tons per year across four projects, with a landfill project capacity of 31.46 million tons[45] Research and Development - Research and development expenses increased by 38.97% to 1,834.50 million RMB due to heightened investment in R&D[50] - The company received 13 utility model patents and engaged in three national-level research projects, showcasing its commitment to technological advancement[40] - The number of R&D personnel reached 287, accounting for 12.48% of the total workforce[67] - The company invested 200 million in R&D for new technologies, focusing on AI and machine learning[117] - The company is investing 50 million in R&D for new technologies aimed at enhancing operational efficiency and sustainability[139] Governance and Compliance - All board members attended the board meeting, ensuring the report's authenticity and completeness[5][8] - The company received a standard unqualified audit report from PwC Zhong Tian[6] - The board of directors consists of 9 members, including independent directors, ensuring compliance with governance standards and effective oversight[104] - The company held 24 board meetings and 5 shareholder meetings during the reporting period, demonstrating active governance practices[104] - The company has established a comprehensive risk management system to identify, analyze, and respond to various policy risks, ensuring dynamic management of potential threats[99] Market Expansion and Strategy - The company aims to increase its market share in the renewable energy sector by winning the Tianjin Houtai Park energy station project[37] - The company plans to enhance its focus on resource and energy utilization in line with national policies promoting wastewater resource utilization and solid waste recycling[41] - The company will continue to expand its industrial and organic solid waste business, as well as its new energy supply services, to enhance its emerging environmental protection business segment[93] - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[124] - Market expansion plans include entering two new international markets, which are expected to contribute an additional 5% to revenue in 2022[117] Financial Management and Dividend Policy - The company has a cash dividend policy that mandates a minimum of 20% of the distributable profit to be distributed as cash dividends each year, provided certain conditions are met[177] - The company aims for cumulative cash distributions over three years to be no less than 30% of the distributable profit during that period[177] - The board of directors is responsible for proposing the profit distribution plan based on the company's operational status and future funding needs[177] - The company has modified its articles of association to enhance transparency and clarity in its cash dividend policy[176] - The company confirmed that the cash dividend policy complies with the company's articles of association and shareholder resolutions, with clear standards and ratios established[181] Environmental Impact - The company achieved a cumulative reduction of pollutants, including approximately 455,700 tons of COD and 54,500 tons of total nitrogen, contributing significantly to water environment management[199] - The company adheres to national and local wastewater discharge standards, primarily the Class A standard of GB18918-2002[198] - During the reporting period, the company discharged approximately 25,500 tons of COD, 1,250 tons of total nitrogen, 781 tons of ammonia nitrogen, and 252 tons of total phosphorus[199] Human Resources - The total number of employees remained stable at 822, indicating no major changes in workforce size[125] - The professional composition includes 1,188 production personnel, 94 sales personnel, 520 technical personnel, 122 financial personnel, 203 administrative personnel, and 173 management personnel[168] - The education level of employees includes 4 with a doctorate, 123 with a master's degree, and 1,136 with a bachelor's degree[168]