lu'an EED(SH:601699)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was CNY 45.15 billion, representing a 73.33% increase compared to CNY 26.05 billion in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 6.71 billion, a significant increase of 244.80% from CNY 1.95 billion in 2020[19]. - The net cash flow from operating activities reached CNY 8.05 billion, up 260.24% from CNY 2.23 billion in the previous year[21]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 7.78 billion, an increase of 310.15% from CNY 1.90 billion in 2020[21]. - Basic earnings per share increased to 2.24 RMB, representing a 244.62% increase compared to the previous year[22]. - The weighted average return on equity rose to 22.02%, an increase of 14.41 percentage points year-on-year[22]. - The company reported a significant increase in tax expenses, which rose by 205.97% to ¥2.39 billion from ¥782.43 million in the previous year[38]. - The gross profit margin for the coal mining segment improved by 17.04 percentage points to 52.88%[41]. - The company reported a total profit of CNY 4,601,146,747.24 for 2021, compared to CNY 1,463,486,362.70 in 2020, representing an increase of approximately 213.5%[199]. Assets and Liabilities - Total assets as of the end of 2021 amounted to CNY 94.87 billion, a 22.07% increase from CNY 77.72 billion in 2020[21]. - The net assets attributable to shareholders at the end of 2021 were CNY 34.62 billion, reflecting a 26.35% increase from CNY 27.40 billion at the end of 2020[21]. - The company's debt-to-asset ratio stands at 52.19%[173]. - Total liabilities reached CNY 6,500,258,218.52, a reduction from CNY 16,462,575,663.69[175]. - The total amount of non-current assets was CNY 9,727,182,771.38, down from CNY 12,594,387,803.90[174]. - The total liabilities of the company amounted to RMB 50.92 billion in 2021, compared to RMB 39.13 billion in 2020, which is an increase of approximately 30.1%[195]. Production and Sales - The company achieved a record coal production of 54.36 million tons and coal sales of 50.35 million tons in 2021[29]. - The company achieved a raw coal production of 54.36 million tons and a coal sales volume of 50.35 million tons in 2021, generating coal sales revenue of 39.9 billion RMB, with coal revenue accounting for 88.55% of total revenue[34]. - The average selling price of commodity coal was 793.91 RMB per ton during the reporting period[37]. - The total sales volume of mixed coal increased by 0.88% to 28.70 million tons, while production volume rose by 2.72%[43]. Research and Development - Research and development expenses surged by 127.94% to ¥1.41 billion, up from ¥619.60 million in the previous year[38]. - The total R&D expenditure for the reporting period was ¥1,412,323,888.92, representing an increase of 128% compared to ¥619,603,047.40 in 2020[49][51]. - The company employed 4,538 R&D personnel, making up 12.79% of the total workforce[50]. Corporate Governance and Management - The company has received a standard unqualified audit report from its accounting firm, indicating the accuracy and completeness of its financial statements[2]. - The independent directors accounted for over 1/3 of the total number of directors, ensuring effective decision-making and supervision[70]. - The company has committed to maintaining independence in its operations despite the controlling shareholder's involvement in the coal industry[72]. - The company has established a comprehensive internal control system in accordance with regulations, ensuring effective execution and promoting sustainable development[102]. Environmental Responsibility - Environmental safety measures were strengthened, with no environmental accidents reported during the year[29]. - The company is committed to environmental compliance, with emissions of sulfur dioxide (SO2) from its coke oven chimney at 19.72 mg/m³, below the standard of 30 mg/m³[108]. - The company has established a monitoring system for emissions, ensuring that all pollutants are within the prescribed limits, thereby enhancing its environmental responsibility[107]. - The company completed environmental protection investments totaling CNY 185.81 million, with 30 projects, including CNY 65.98 million for wastewater treatment and CNY 55.10 million for air pollution control[125]. Social Responsibility - The company donated 31.7 million RMB for flood relief and transferred public facilities worth 11.28 million RMB to local governments, demonstrating its commitment to social responsibility[32]. - The company has committed to donating fixed assets to the Xiangyuan County government[86]. Market Outlook and Strategy - The company has indicated potential uncertainties in achieving its 2022 operational targets due to coal industry policies and supply-demand factors[5]. - The company plans to enhance its core competitiveness and seize market opportunities for revenue growth[29]. - The company aims to maintain coal production at 50 million tons and achieve revenue exceeding 35 billion yuan in 2022[64]. - The company anticipates that coal market prices will gradually return to rational levels due to slowing domestic economic growth and increased renewable energy capacity[61].