NB CONSTRUCTION(SH:601789)2022-04-18 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.20 RMB per 10 shares to all shareholders, based on a total share capital of 1,086,798,590 shares[6]. - The company does not plan to increase capital through stock dividends or bonus shares, with remaining undistributed profits carried forward to the next year[6]. - The company distributed cash dividends of 0.10 RMB per share, totaling 97,608,986.50 RMB, which accounts for 34.91% of the net profit attributable to the parent company[154]. - The company has a cash dividend policy that mandates a minimum of 30% of the average distributable profit over the last three years to be distributed in cash, with a minimum of 10% of the current year's distributable profit[140]. Financial Performance - The company's operating revenue for 2021 was CNY 21.32 billion, representing a year-on-year increase of 7.69% compared to CNY 19.80 billion in 2020[22]. - Net profit attributable to shareholders was CNY 415.75 million, a significant increase of 48.70% from CNY 279.59 million in 2020[22]. - The basic earnings per share for 2021 was CNY 0.4038, up 50.28% from CNY 0.2687 in 2020[23]. - The total assets at the end of 2021 reached CNY 20.83 billion, an increase of 11.86% from CNY 18.62 billion at the end of 2020[22]. - The company achieved an operating income of CNY 21.32 billion, representing a year-on-year growth of 7.69%[49]. - The net profit for the year was CNY 443 million, a significant increase of 48.84% compared to the previous year[49]. - The company's total assets reached CNY 20.831 billion, an increase of 11.86% year-on-year[49]. Audit and Compliance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[5]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has not violated decision-making procedures for external guarantees[8]. - The company has established a robust internal control system to enhance governance and protect shareholder interests[108]. - The company has implemented a comprehensive information disclosure system, ensuring timely and accurate reporting of significant decisions and events through designated media[111]. Risk Management - The report includes a risk statement regarding forward-looking statements, advising investors to be aware of investment risks[7]. - The company recognizes risks related to macroeconomic fluctuations, accounts receivable, and raw material price volatility, and plans to implement risk control measures[105]. - The company emphasizes the importance of legal risk management in construction projects to mitigate potential disputes[106]. Market Expansion and Projects - The company expanded its market presence, securing CNY 46.69 billion in projects outside Zhejiang province, a growth of 33.67% year-on-year[32]. - The company has undertaken a series of high-quality projects, including the C1-4 and C1-5 projects in Ningbo, and various educational infrastructure projects, contributing to its robust project portfolio[33]. - The company has actively engaged in the renovation of old residential communities in Ningbo, contributing to local urban development initiatives[33]. - The company has established a strong collaboration with local educational institutions, securing multiple public construction projects in the education sector[33]. - The company is focusing on expanding its municipal and installation business while consolidating traditional sectors like decoration and curtain walls[103]. Legal Matters - The company has ongoing significant litigation matters, including a lawsuit against Xi Rui Real Estate for overdue payments totaling approximately 127.4 million RMB[167]. - The company has received a civil judgment requiring Xi Rui Real Estate to pay 145.4 million RMB, including interest and related fees[167]. - The company has initiated legal proceedings against Lu Wang Logistics for overdue payments of approximately 38.4 million RMB and related penalties[167]. - The company is actively pursuing legal actions to recover overdue payments from various clients[168]. - The company has filed a lawsuit against Huayue Real Estate for a total of 440,195,892.82 CNY in construction payments and related fees[168]. Research and Development - Research and development expenses increased by 43.90% to CNY 510 million, reflecting the company's commitment to innovation[50]. - The company has been recognized as a national high-tech enterprise, with a total of 9 such enterprises under its umbrella, and has obtained 20 invention patents and 92 utility model patents during the year[39]. - The company aims to enhance its competitive edge through technology innovation and talent management, focusing on high-difficulty projects and improving research capabilities[99][100]. Employee and Management - The total number of employees in the parent company is 36, while the main subsidiaries employ 5,582, resulting in a total of 5,618 employees[135]. - The company has a structured approach to employee compensation that reflects market conditions and aims to attract and retain talent[137]. - The company emphasizes a competitive salary structure to align employee interests with corporate performance, ensuring a balance between incentives and responsibilities[137]. - The company has a training program in place aimed at enhancing the professional skills of management and employees to support sustainable business development[138]. Environmental and Social Responsibility - The company actively promotes green construction and has reduced carbon emissions by adopting prefabricated buildings and mechanized installation methods[152]. - The company has engaged in social responsibility initiatives, including disaster relief efforts during typhoons and support for pandemic prevention measures[155]. - The company has committed to donating 10 million RMB over five years to support various charitable projects, including assistance for the elderly and education[158]. Financing and Capital Structure - The company has successfully issued 700 million RMB in short-term financing bonds and plans to issue 1 billion RMB in long-term notes, enhancing its financing structure and reducing operational costs[38]. - The company reported a significant increase in cash flow from financing activities, amounting to CNY 891 million, compared to a negative cash flow in the previous year[51]. - The company has a total guarantee amount of RMB 5,283,519,436.92, which accounts for 124.49% of its net assets[185]. - The company provided guarantees totaling RMB 9,343,300,000.00 to its subsidiaries during the reporting period[185]. Related Party Transactions - The company reported a related party transaction amounting to ¥73,248,031.91 for construction waste management services[178]. - The total revenue from related party transactions amounted to RMB 136,194,863.98[180]. - The company has maintained a low proportion of related party transactions compared to similar businesses, ensuring its independence[180]. Strategic Initiatives - The company plans to implement a dual-track development strategy, combining general contracting with specialized subcontracting to strengthen its market position[99]. - The company intends to enhance its market share in concrete and related products, particularly targeting metro line projects[103]. - The company is committed to exploring new business areas such as investment and financing projects, including F+EPC and PPP models[103].