AsAc(SH:601890)2022-04-25 16:00Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥121,174,759.82 in 2021, with a cumulative profit available for distribution to shareholders of ¥524,188,117.81 by the end of 2021[6]. - The company's operating revenue for 2021 was CNY 1,319,528,496.10, representing a 19.00% increase compared to CNY 1,108,893,177.50 in 2020[24]. - Net profit attributable to shareholders increased by 39.02% to CNY 121,174,759.82 from CNY 87,163,846.86 in the previous year[24]. - The net profit after deducting non-recurring gains and losses rose by 104.11% to CNY 95,431,935.61, compared to CNY 46,754,264.02 in 2020[24]. - The company's total assets at the end of 2021 were CNY 4,137,226,347.93, a 2.72% increase from CNY 4,027,675,969.40 at the end of 2020[24]. - The weighted average return on equity increased to 3.91% in 2021, up from 2.88% in 2020, an increase of 1.03 percentage points[27]. - The basic earnings per share for 2021 was CNY 0.126, reflecting a 38.46% increase from CNY 0.091 in 2020[27]. - The gross profit margin increased by 1.64% year-on-year, contributing to the rise in net profit[28]. - The company reported a revenue of 1.32 billion RMB, a year-on-year increase of 19.00%, with operating costs rising by 16.48% to 998.48 million RMB[47]. - The company reported a total revenue of RMB 1,319.53 million for the year 2021, with domestic sales contributing RMB 842.58 million and international sales contributing RMB 476.95 million[196]. Dividends and Shareholder Returns - A cash dividend of ¥0.4 per 10 shares is proposed, amounting to a total cash dividend distribution of ¥38,376,000.00 (including tax) for the year[6]. - The total distributable profit for shareholders at the end of 2021 was 524,188,117.81 CNY, with a proposed cash dividend of 0.4 CNY per 10 shares, totaling 38,376,000.00 CNY (including tax)[132]. - The company has a cash dividend policy that prioritizes shareholder returns, which was approved in the 2013 annual shareholders' meeting[132]. - The company has a shareholder return plan for the next three years (2021-2023) approved on May 20, 2021[147]. Market and Operational Risks - The company faces market risks due to the cyclical nature of the shipping and marine engineering industries, which are influenced by fluctuations in the shipping market and international oil prices[10]. - Raw material price fluctuations pose a risk, as the main raw materials are steel products; the company has implemented cost control measures to mitigate these risks[10]. - The company is exposed to exchange rate risks due to product exports and has engaged in forward foreign exchange transactions to hedge against these fluctuations[10]. - The COVID-19 pandemic has introduced additional risks related to safety and performance, requiring enhanced risk management capabilities[10]. - The company recognizes market risks due to cyclical fluctuations in the shipping and marine engineering industries, which can impact new ship orders and prices[95]. - The company faces raw material price risks, particularly with steel products, which can affect production costs[95]. Production and Sales Performance - In 2021, the company achieved a net profit of 121.17 million RMB, reflecting a strong performance in the international shipping market with a 3.0% increase in completed shipbuilding tonnage[36]. - The company produced 110,661 tons of ship anchors, an increase of 3.25% year-on-year, while the production of mooring chains decreased by 40.09% to 14,570 tons[46]. - Total sales volume for the year was 120,494 tons, a decrease of 4.72% compared to the previous year, with ship anchors and accessories sales dropping by 9.7% to 100,336 tons[46]. - The company secured new orders totaling 144,300 tons during the reporting period, including 127,300 tons for ship anchors and accessories[51]. - The company’s production capacity in 2021 was 300,000 tons, with 160,000 tons for ship anchors and 110,000 tons for mooring chains[41]. Research and Development - Research and development expenses increased by 25.37% to 65.77 million RMB, indicating a focus on innovation and technology advancement[50]. - The company authorized 9 patents during the reporting period, including 3 invention patents and 6 utility model patents, and applied for 22 new patents[70]. - Research and development investments increased by 12% this year, focusing on innovative materials for anchor chains[112]. Corporate Governance - The company received a standard unqualified audit report from the auditing firm Tianye[5]. - All board members attended the board meeting, ensuring accountability for the report's accuracy and completeness[4]. - The board of directors consists of 9 members, including 3 independent directors, and held four board meetings during the reporting period[100]. - The supervisory board has 3 members, including one employee representative, and conducted three supervisory meetings, effectively monitoring the company's operations and financial status[100]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring independent decision-making processes[101]. - The company strictly adhered to information disclosure regulations, completing all required reports and announcements in a timely manner[101]. - The company has established specialized committees under the board, including an audit committee and a nomination committee, to enhance operational efficiency[100]. Financial Management - The company has implemented a unified accounting system for financial management across subsidiaries, ensuring coordinated oversight[136]. - The internal control audit for 2021 received a standard unqualified opinion, indicating no discrepancies with the company's self-evaluation[137]. - The company has retained the same accounting firm for auditing since 2007, with an audit fee of RMB 80,000 for the year 2021[160]. - Management is responsible for preparing financial statements in accordance with accounting standards to ensure fair representation[200]. Future Outlook - The company plans to achieve a revenue target of 1.45 billion in 2022, with 1 billion from ship anchor chains and 450 million from marine engineering mooring chains[92]. - The company aims to enhance market share by collaborating with international oil and energy companies and expanding the large-specification chain market[92]. - The company plans to expand into the mining equipment sector, as discussed in the strategic committee meeting[124]. - The company is exploring partnerships with international firms to enhance its technological capabilities and market reach[112].