CISC(601005)2022-03-30 16:00Financial Performance - In 2021, the company's operating revenue reached CNY 39.85 billion, a 62.72% increase compared to CNY 24.49 billion in 2020[22] - The net profit attributable to shareholders was CNY 2.27 billion, representing a significant increase of 256.22% from CNY 638.48 million in the previous year[22] - The net cash flow from operating activities was CNY 5.62 billion, up 320.21% from CNY 1.34 billion in 2020[22] - The total assets of the company at the end of 2021 were CNY 42.99 billion, a 7.62% increase from CNY 39.95 billion at the end of 2020[22] - The net assets attributable to shareholders increased to CNY 22.38 billion, reflecting an 11.66% growth from CNY 20.04 billion in 2020[22] - The company reported a net profit excluding non-recurring gains and losses of CNY 2.45 billion, a 399.55% increase from CNY 491.08 million in 2020[22] - Basic earnings per share increased by 271.43% to CNY 0.26 compared to CNY 0.07 in the previous year[25] - The weighted average return on equity rose by 7.49 percentage points to 10.73% from 3.24% in the previous year[25] - The total profit reached 22.63 billion yuan, marking a significant year-on-year growth of 262.42%[45] - The company reported a total of 5,698,000 shares allocated to employees under the employee stock ownership plan, with a total value of approximately 1,373.93 million[143] Environmental Commitment - The company achieved a 21% reduction in dust emissions compared to 2020, reflecting its commitment to environmental management[35] - The company is committed to high-quality green manufacturing and aims to become a leader in the steel industry in Southwest China[40] - The company is committed to reducing comprehensive energy consumption per ton of steel and has developed a "carbon peak, carbon neutrality" plan[97] - Sustainability initiatives are being prioritized, with a goal to reduce carbon emissions by 30% over the next five years[152] Production and Operations - The company produced 711.55 million tons of steel, a year-on-year increase of 5.59%, achieving the highest production level in history[45] - The cumulative crude steel production for the year was 1.033 billion tons, a decrease of approximately 3.0% compared to the previous year[39] - The steel export volume for the year was 66.9 million tons, reflecting a year-on-year increase of 24.6%[39] - The company maintained a high furnace dry coke ratio of 329 kg/t.Fe, setting a historical record in March 2021[35] - The company plans to achieve pig iron production of 722,000 tons and steel production of 712,000 tons in 2022, with a revenue target of 42 billion yuan[94] Research and Development - A total of 275 patents were applied for in 2021, with 105 being invention patents, marking a fourfold increase in patent applications compared to the previous year[35] - Research and development expenses amounted to 1,256,341 thousand RMB, representing 3.15% of total revenue[64] - The company is investing 2 billion yuan in R&D for new technologies aimed at improving production efficiency[152] - The number of R&D personnel is 866, accounting for 12.86% of the total workforce[64] Corporate Governance - The company maintained strict compliance with the Company Law and Articles of Association, ensuring equal rights for all shareholders, especially minority shareholders[102] - The board of directors consisted of 9 members, including 3 independent directors and 2 independent directors with accounting expertise[102] - The company has established a robust internal control system, conducting regular risk assessments and implementing a mechanism for managing key risks[102] - The company has achieved a high level of corporate governance, adhering to the principles outlined in the corporate governance code[106] Strategic Plans - The company plans to continue expanding its market presence and investing in fixed assets, which increased cash outflow from investment activities to CNY -5,536,088 thousand[46] - The company plans to continue its focus on supply-side structural reforms, with an emphasis on capacity and carbon emission controls in line with national policies[92] - The company is focused on enhancing its management and operational capabilities through experienced leadership in production and innovation[144] - The company is actively pursuing new strategies for growth, including potential market expansions and technological advancements in its operations[156] Financial Management - The company has implemented a comprehensive information disclosure system, ensuring timely and accurate communication with investors[102] - The total remuneration for directors, supervisors, and senior management in the reporting period amounted to RMB 13.7393 million (pre-tax)[167] - The company emphasizes performance-based evaluation for senior management, linking compensation to annual performance indicators[167] - The company has implemented a new performance incentive framework for senior management for the period 2021-2023[167] Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[149] - Market expansion plans include entering two new international markets, targeting a 25% increase in export sales[152] - The company is considering strategic acquisitions to enhance its market position, with a budget of 3 billion yuan allocated for potential deals[152] Employee Engagement - The employee training program in 2021 involved 48,764 participants, with an average training duration of 76.2 hours per person, representing a significant increase compared to 2020[196] - The company’s employee compensation structure includes basic salary, allowances, and bonuses, determined based on economic performance and assessment results[192] - The company has implemented a minimum wage policy, ensuring employee compensation meets or exceeds local government standards[192]