CHALIECO(SH:601068)2022-03-28 16:00Financial Performance - The net profit attributable to shareholders for the year 2021 was -950,129,673.17 RMB, indicating a loss[4]. - As of December 31, 2021, the company's undistributed profits amounted to -51,199,827.53 RMB[4]. - The board proposed no cash dividend distribution for the year 2021, nor any capital reserve transfer to increase share capital[4]. - The company's operating revenue for 2021 was CNY 2,334,819.63 million, representing a 1.40% increase compared to 2020[28]. - The net profit attributable to shareholders for 2021 was a loss of CNY 95,012.97 million, an improvement of 51.92% from the previous year's loss[28]. - The net cash flow from operating activities for 2021 was CNY 73,421.50 million, showing a 20.22% increase from 2020[28]. - The total assets at the end of 2021 amounted to CNY 5,882,803.53 million, reflecting a 7.96% increase compared to the end of 2020[28]. - The net assets attributable to shareholders decreased by 12.55% to CNY 763,711.78 million at the end of 2021[28]. - The basic earnings per share for 2021 was CNY -0.37, improving by 47.89% from CNY -0.71 in 2020[28]. - The company reported a significant decline in trade business revenue, which was ¥326,436,722.07 in 2021, down 79.46% from ¥1,589,019,470.35 in 2020, with a gross margin of -31.74%[66]. - The total operating cost for 2021 was ¥1,413,370,131.40, a decrease of 6.53% from ¥1,512,041,777.91 in 2020[66]. Risk Factors - The company anticipates facing risks in 2022, including health risks from COVID-19, market changes, competition, debt, cash flow, and operational efficiency[4]. - The report includes a forward-looking statement risk declaration, indicating that actual results may differ from projections due to various factors[4]. - The company emphasizes the importance of investor awareness regarding potential investment risks associated with forward-looking statements[4]. - The company faces risks including personnel health risks due to COVID-19, market changes, competition risks, debt risks, cash flow risks, and operational efficiency risks[134][135][136][139][140]. Audit and Governance - The audit report for the financial statements was issued by Da Xin Certified Public Accountants, confirming a standard unqualified opinion[4]. - The board of directors and supervisory board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report's financial information[4]. - The audit committee has reviewed the annual performance of the group for 2021 and the consolidated financial statements as of December 31, 2021[193]. - The company has established a governance structure that complies with the Company Law and relevant regulations, enhancing its governance level[200]. - As of the end of 2021, 31 out of 64 strategic units have established boards of directors, with 7 dedicated directors appointed to 3 key subsidiaries[200]. - The company revised its Articles of Association and related governance rules in 2021 to align with the latest capital market regulations[200]. Project and Contract Management - The company signed new contracts worth 44.7 billion RMB and achieved operating revenue of 23.3 billion RMB, with an operating cash flow of 734 million RMB for the year[39]. - The company has a total of 229 qualifications covering all major aspects of the industry, including design, construction, and supervision[106]. - The company has 4,894 domestic projects amounting to RMB 10,431,671.34 million and 97 overseas projects totaling RMB 1,460,262.49 million[93]. - The company reported an increase in contract liabilities to RMB 3,254.57 million, reflecting a 22.3% increase year-on-year due to increased advance payments for new projects[84]. - The company has established a comprehensive subcontractor selection and management system to ensure quality and compliance in project execution[110]. Research and Development - Research and development expenses increased by 25.81% to 604.16 million RMB, reflecting the company's commitment to enhancing R&D investment[56]. - The number of R&D personnel was 2,584, representing 20.6% of the total workforce, with a significant portion holding advanced degrees[77]. - The company aims to enhance its R&D capabilities in various sectors, including aluminum production and intelligent manufacturing, to address market demands and environmental goals[80]. - The company actively pursued green and low-carbon technology innovations, achieving 15 results recognized as internationally leading by industry experts[40]. Market and Industry Trends - The non-ferrous metal industry in China is transitioning from scale expansion to high-quality development, with a focus on innovation and efficiency improvements[122]. - The urbanization rate in China is expected to exceed 70% by 2035, driving demand for construction and infrastructure projects[122]. - The domestic non-ferrous construction market has significantly shrunk due to national policies, with fewer new projects in 2021, while the civil construction market remains stable but increasingly concentrated[136]. Financial Management - The company has optimized its capital structure, increasing the proportion of long-term financing and reducing financing costs compared to the previous year[41]. - The company's financing balance at the end of the reporting period was CNY 229.74 billion, an increase of 10.84% from the end of 2020, primarily due to new project financing of CNY 31 billion[112]. - The company issued CNY 10 billion in short-term financing bonds in January 2021 and registered a CNY 16 billion debt financing plan in October 2021[112]. - The net cash flow from financing activities in 2021 was RMB 3,436.30 million, an increase of RMB 2,410.44 million year-on-year, primarily due to capital contributions from minority shareholders[81]. Corporate Social Responsibility - The company has made charitable donations totaling approximately RMB 1.554 million during the reporting period[146]. - The company maintained zero safety incidents and environmental events throughout the year, demonstrating a strong commitment to safety and quality[40].