Chongqing Water(SH:601158)2023-06-01 16:00Financial Performance - The company's operating revenue for 2021 was CNY 7,252,254,088.48, representing a 14.22% increase compared to CNY 6,349,599,844.62 in 2020[17]. - Net profit attributable to shareholders was CNY 2,077,554,122.67, up 17.13% from CNY 1,773,730,161.83 in the previous year[17]. - The net cash flow from operating activities increased by 18.83% to CNY 2,734,704,901.94 from CNY 2,301,313,982.25 in 2020[17]. - The total assets at the end of 2021 reached CNY 29,244,789,287.61, a 19.20% increase from CNY 24,534,292,342.35 in 2020[17]. - Basic earnings per share rose to CNY 0.43, reflecting a 16.22% increase from CNY 0.37 in 2020[18]. - The weighted average return on equity increased to 13.15%, up 1.58 percentage points from 11.57% in 2020[18]. - The company reported a government subsidy of CNY 275,351,900.00 related to wastewater treatment tax fees, which is closely related to its business operations[23]. - In 2021, the company achieved a total revenue of 7.252 billion yuan, an increase of 14.22% year-on-year, and a net profit of 2.078 billion yuan, up 17.13% year-on-year[26]. Market Position and Expansion - The company holds approximately 54% of the tap water market and about 83% of the sewage treatment market in the main urban area of Chongqing[29]. - The company and its joint ventures collectively occupy around 86% of the tap water market and about 92% of the sewage treatment market in Chongqing, demonstrating a significant regional competitive advantage[29]. - The company aims to expand its water service operations into provinces such as Sichuan, Yunnan, Hubei, and Henan, targeting a strategic goal of becoming a leading comprehensive water service provider in China[29]. - The company successfully expanded its market by acquiring 19 sewage treatment plants and winning several PPP projects, enhancing its competitive edge in the local market[26]. - The company processed 1.486 billion cubic meters of wastewater, representing a year-on-year growth of 18.88%, and sold 621 million cubic meters of tap water, a 9.00% increase[26]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[3]. - The company emphasizes the importance of the accuracy and completeness of the annual report, with key personnel affirming its integrity[2]. - The company has maintained strict compliance with information disclosure regulations, ensuring no false records or significant omissions occurred during the reporting period[84]. - The company has established a system to manage insider information, ensuring confidentiality and fairness in information disclosure[84]. - The company has actively improved its corporate governance structure in accordance with relevant laws and regulations, enhancing operational transparency and shareholder rights[84]. Environmental Responsibility - The company reduced COD emissions by approximately 317,100 tons and ammonia nitrogen by about 30,800 tons, demonstrating its commitment to environmental responsibility[27]. - The company’s wastewater treatment plants generated 14 million kilowatt-hours of electricity annually, equivalent to saving about 1,721 tons of standard coal and reducing carbon emissions by approximately 10,000 tons[133]. - The company has implemented advanced energy-saving technologies and processes to reduce carbon emissions in its operations[133]. - The company has successfully upgraded its wastewater treatment standards from Class B to Class A, enhancing water quality in key river basins[135]. - The company has established a three-tier water quality monitoring system to ensure continuous compliance with water quality standards[132]. Financial Management and Investments - The company issued 1 billion yuan in bonds and increased bank borrowings, resulting in a debt-to-asset ratio of 43.57%, up 7.12 percentage points from the previous year[26]. - The company has provided guarantees totaling 1,282.11 million RMB to external parties, excluding subsidiaries, during the reporting period[169]. - The company has a total guarantee amount of 14,139.78 million RMB for its subsidiaries during the reporting period[169]. - The company has entrusted its own funds amounting to 1,000,000,000.00 RMB in bank wealth management products, with an unexpired balance of 500,000,000.00 RMB[172]. - The company has signed an investment agreement for a PPP project in Anning City with a total investment of RMB 70,954.99 million, with a construction period of 3 years and an operation period of 12 years[175]. Research and Development - The company launched 39 new research and innovation projects and completed 16 research topics, focusing on technological advancements and digital transformation[27]. - The total R&D expenditure was 565.58 million RMB, representing 0.08% of total revenue, with 43.97% of R&D costs capitalized[48]. - The company is focusing on digital transformation and technology innovation, implementing a "smart water" initiative using big data and cloud computing[32]. - The company is investing in new technology development, allocating 100 million yuan towards R&D initiatives[89]. Social Responsibility - The company actively participated in social responsibility initiatives, including disaster relief efforts and rural revitalization projects, contributing 500,000 yuan in aid[27]. - The company donated RMB 500,000 to support rural revitalization efforts in Chongqing and provided 28 tons of drinking water for disaster relief in Henan[136]. Future Outlook - For 2022, the company targets a revenue of 7.35 billion RMB and a net profit of 1.937 billion RMB, while ensuring stable operation of water supply and drainage production[76]. - The company aims to achieve an asset scale of 50 billion RMB and revenue exceeding 10 billion RMB by the end of 2025, with a total water supply and drainage capacity of over 9.3 million m³/day and daily sludge treatment capacity of 4,680 tons[75]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[89].