2022-03-30 16:00Financial Performance - In 2021, Dongfang Electric achieved a total operating revenue of RMB 47.819 billion, representing a year-on-year growth of 28.26%[9] - The net profit attributable to the parent company was RMB 2.289 billion, with the parent company achieving a net profit of RMB 1.141 billion[4] - The company reported a total profit of RMB 2.667 billion, reflecting a year-on-year increase of 29.02%[9] - Total revenue for 2021 reached ¥47.82 billion, an increase of 28.26% compared to ¥37.28 billion in 2020[17] - Net profit attributable to shareholders was ¥2.29 billion, up 22.93% from ¥1.86 billion in 2020[19] - Basic earnings per share increased by 21.67% to ¥0.73, compared to ¥0.60 in 2020[18] - The company achieved total operating revenue of 47.819 billion RMB in 2021, a year-on-year increase of 28.26%, and a net profit attributable to shareholders of 2.289 billion RMB, up 22.93% year-on-year[26] - The fourth quarter revenue was ¥14.12 billion, marking a significant increase compared to previous quarters[21] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.3 per 10 shares, totaling RMB 717.37 million[4] - The company has implemented a cash dividend policy, distributing at least 30% of the average distributable profit over the last three years when the net profit is positive[113] - The board approved a dividend payout of 1.5 billion yuan, reflecting a commitment to returning value to shareholders[94] Research and Development - R&D expenditure reached 2.722 billion RMB, constituting 5.82% of total revenue, with significant achievements in core technology and multiple awards received[28] - The company’s R&D expenditure in 2021 was CNY 2.722 billion, accounting for 5.82% of total revenue, with 401 patents granted during the year[37] - The company is committed to enhancing R&D investment and accelerating breakthroughs in key technologies, with a focus on establishing itself as a source of original technology in the industry[76] Market and Product Development - New orders amounted to 56.392 billion RMB, representing a 14.15% increase compared to the previous year, with clean and efficient energy equipment accounting for 25.81% and renewable energy equipment for 29.40% of the new orders[27] - The revenue share from the wind power industry increased to 26.4%, while the coal power industry's revenue share fell below 20%[29] - The company successfully launched the largest single-unit capacity 13MW wind turbine in Asia[9] - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[94] Operational Efficiency and Cost Management - The company’s net cash flow from operating activities showed a net outflow of ¥3.71 billion, a significant increase from a net outflow of ¥947.73 million in 2020[22] - The company plans to optimize procurement and implement cost control measures to mitigate the impact of rising commodity prices[105] - The company is focusing on enhancing quality and efficiency through targeted cost management initiatives[105] Corporate Governance and Compliance - The company has established a governance structure with external directors in the majority across all subsidiaries[9] - The company emphasizes the importance of maintaining a robust corporate governance mechanism to protect shareholder interests and enhance enterprise value[122] - The company’s governance practices align with international standards, contributing to its competitiveness[122] - The company has established five specialized committees to enhance corporate governance and accountability[122] Environmental and Social Responsibility - The company has implemented a green transformation strategy, focusing on the development of hydropower, wind power, and nuclear power industries[148] - The company invested 26.5 million yuan in targeted poverty alleviation efforts in 2021, including 50,400 yuan in external funding and the transfer of 60 jobs[150] - The company has developed and improved emergency response plans for sudden environmental incidents, conducting regular drills to enhance preparedness[144] Risk Management - The company emphasized the importance of integrating risk control with strategic goals, focusing on major risk prevention[108] - The company is optimizing risk management capabilities, focusing on environmental protection and quality management to mitigate major risks[80] - The company faces risks related to pandemic control, international operations, project execution, and market competition, and is taking measures to address these challenges[82][83] Employee and Talent Development - The company has a workforce with 54.33% holding a bachelor's degree or higher, and 12% with a master's degree or above, indicating a highly qualified talent pool[42] - The company plans to enhance its training programs to improve employee capabilities and work performance, focusing on innovative and skilled talent[112] - The company employed 4,122 R&D personnel, making up 24.29% of the total workforce, with 1,195 holding master's degrees or higher[58] Related Party Transactions - The company has ongoing related party transactions with Dongfang Electric Group, which are essential for its operations and comply with normal commercial terms[170] - The related party transactions have been approved by the company's board and independent shareholders, ensuring compliance with regulations[170] - The company has no significant litigation or arbitration matters during the reporting period[167]