MCC(SH:601618)2022-03-29 16:00Financial Performance - The audited consolidated net profit attributable to shareholders for 2021 was RMB 8,374,970 thousand, with undistributed profits of RMB 5,846,248 thousand[3]. - The proposed cash dividend is RMB 0.78 per 10 shares, totaling RMB 1,616,442 thousand, which accounts for 19.30% of the net profit attributable to shareholders[3]. - In 2021, China Metallurgical Corporation achieved operating revenue of CNY 500.57 billion, a year-on-year increase of 25.11%[11]. - The total profit reached CNY 14.01 billion, reflecting a growth of 17.58% compared to the previous year[11]. - The net profit attributable to the parent company was CNY 8.38 billion, up by 6.52% year-on-year[11]. - The company's operating revenue for 2021 was CNY 500.57 billion, an increase of CNY 100.46 billion (25.11%) compared to 2020[21]. - Net profit attributable to shareholders was CNY 83.75 billion, up CNY 5.13 billion (6.52%) from 2020[23]. - The company's total assets as of December 31, 2021, reached CNY 543.47 billion, reflecting an increase of CNY 37.08 billion (7.32%) from the previous year[23]. - The new contract amount signed was CNY 1,204.98 billion, an increase of CNY 185.25 billion (18.17%) compared to 2020[23]. - The basic earnings per share for 2021 was CNY 0.35, an increase of CNY 0.03 from 2020[22]. Market and Economic Conditions - The company’s operations are significantly influenced by domestic and international macroeconomic conditions, with potential fluctuations in performance due to these factors[5]. - The global prices of mineral products saw a significant rebound in 2021, impacting the company's business sectors[5]. - The construction industry is facing increased competition and pressure for technological innovation due to the "dual carbon" policy and environmental regulations[36]. - The basic construction sector is expected to benefit from significant government investment, with over 3.5 trillion RMB in new special bonds planned for the year[36]. - The real estate market is projected to stabilize with an average annual sales area of 1.34 billion square meters during the 14th Five-Year Plan period[37]. Strategic Initiatives and Innovations - The company is adapting to national policies on carbon emissions and environmental regulations, which may affect its operational strategies[5]. - China Metallurgical Corporation aims to enhance investment risk control, contract performance capabilities, and talent development in 2022[11]. - The company plans to optimize marketing quality and project incentive mechanisms while improving project profitability[11]. - The company is focusing on optimizing its industrial and market layout while promoting technological innovation to maintain steady growth[35]. - The company is committed to digital transformation and integrating new technologies with traditional manufacturing to enhance competitiveness in the metallurgical equipment sector[39]. - The company is focusing on green, low-consumption, intelligent, and efficient goals in its research and development of new processes and technologies[46]. Research and Development - The company added over 8,000 valid patents, bringing the total to over 40,000, with valid invention patents surpassing 10,000 for the first time[11]. - Research and development expenses increased to RMB 15,901,198 thousand, representing a 29.5% rise from RMB 12,326,903 thousand in 2020[26]. - The company has established four low-carbon technology research institutes and one carbon emission assessment center to align with national carbon reduction goals[11]. - The company launched 62 projects under the "181 Plan," focusing on green development and intelligent manufacturing[68]. Operational Performance - The company reported a comprehensive income total of RMB 11,534,182 thousand for 2021, compared to RMB 8,811,423 thousand in 2020, indicating a growth of 30.9%[27]. - The net cash flow from operating activities was CNY 176.40 billion, a decrease of CNY 10.39 billion (37.07%) compared to 2020[21]. - The company experienced a net cash flow from operating activities of RMB 19,675,789 thousand in Q4 2021, a significant recovery from a negative cash flow of RMB 12,987,113 thousand in Q1 2021[30]. - The company’s total equity as of December 31, 2021, was RMB 151,387,759 thousand, up from RMB 140,355,307 thousand in 2020, reflecting a 7.3% increase[28]. Corporate Governance and Management - The company has established five specialized committees under the board of directors, including a newly added Sustainable Development Committee as of January 26, 2022[146]. - The board of directors received the "Best Board of Directors" award at the "Golden Round Table" and multiple other awards for investor relations and corporate governance in 2021[146]. - The company actively implements the three-year reform action plan for state-owned enterprises, enhancing the governance structure of its subsidiaries[146]. - The company has adopted measures to ensure compliance with corporate governance codes, with minor exceptions noted[147]. Environmental and Social Responsibility - The company is actively promoting green construction and has submitted 64 projects for evaluation of green construction standards in 2021[141]. - The company has implemented measures to optimize energy structure and reduce fossil fuel consumption, focusing on clean energy alternatives[141]. - Total donations made by the company during the reporting period reached CNY 2.1846 million, including CNY 867.914 million for poverty alleviation[138]. - The company conducted over 15,000 safety training sessions, training more than 840,000 individuals throughout the year[8]. Future Outlook - The company plans to enhance its R&D investment to improve innovation capabilities in key areas of metallurgy engineering[130]. - The company aims to expand its market presence in infrastructure construction, focusing on core areas and projects, amidst ongoing government encouragement for urban infrastructure investment[134]. - The company plans to optimize its financing structure and manage foreign exchange risks to mitigate financial sector risks amid a complex global financial environment[135]. - The company is committed to strengthening environmental protection and safety production measures to address risks associated with ecological and safety standards[135].