NJTC(SH:601975)2022-03-28 16:00Financial Performance - In 2021, the company's operating revenue was approximately CNY 3.86 billion, a decrease of 4.20% compared to 2020[23]. - The net profit attributable to shareholders was CNY 296.44 million, reflecting a significant decline of 78.68% year-over-year[23]. - The net cash flow from operating activities was CNY 852.79 million, down 56.80% from the previous year[23]. - Basic earnings per share decreased to CNY 0.06, a drop of 78.57% compared to 2020[24]. - The weighted average return on equity fell to 5.18%, a decrease of 21.77 percentage points from the previous year[24]. - The company's operating revenue reached 3.862 billion yuan, with a total profit of 393 million yuan and a net profit attributable to shareholders of 296 million yuan[69]. - Operating costs increased by 20.38% to ¥3,162,324,716.10 from ¥2,626,967,339.24 year-on-year[73]. - The gross profit margin for the transportation industry was 20.65%, a decrease of 17.53 percentage points compared to the previous year[76]. - The revenue from oil transportation was ¥2,842,536,246.79, down 10.67% year-on-year[76]. - The company reported a significant decrease in other income, which fell by 99.54% to ¥2,257,890.33 from ¥494,940,169.74 in the previous year[73]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the annual report[5]. - The company has established a governance structure that ensures independent operation and decision-making, with a board comprising nine members, including three independent directors[117]. - The company has successfully disclosed all required reports and announcements in compliance with legal and regulatory standards during the reporting period[118]. - The total pre-tax compensation for the board members during the reporting period amounted to 868.48 million CNY[125]. - The company has a diverse board with members having extensive experience in various sectors, including finance and logistics[126]. - The company’s governance structure includes independent directors who contribute to oversight and strategic direction[126]. - The company has undergone changes in its board members, including the election of a new chairman and adjustments in the board committees[137]. - The company’s senior management remuneration is determined according to the company's management system for senior management compensation and performance evaluation[137]. Operational Strategy - The company is focusing on digital economy and low-carbon development as key areas for future growth[35]. - The company implemented strategies to optimize operational efficiency, including adjusting sailing schedules and increasing triangular routes to enhance voyage profitability[69]. - The company emphasizes a dual trade model, balancing domestic and international operations to mitigate market risks and improve competitiveness[68]. - The company aims to enhance its core competitiveness and risk resistance by focusing on specialized, differentiated, and leading development strategies in the liquid cargo transportation sector[111]. - The company plans to implement measures such as economic sailing speed and centralized fuel procurement to control fuel costs amid rising prices[113]. Market Conditions - The global economic recovery in 2021 was challenged by the pandemic, leading to high inflation and shifts in monetary policy by major central banks[35]. - In 2021, China's crude oil imports decreased by approximately 32.84 million tons, a year-on-year decline of about 5.4%[39]. - The average annual BDTI (Baltic Dirty Tanker Index) was 644 points, a decrease of approximately 7.8% compared to 2020's average[40]. - The average BCTI (Baltic Clean Tanker Index) for 2021 was 532 points, down approximately 6.6% from the previous year[46]. - The domestic refined oil transportation market showed signs of weakness due to high inventory levels and reduced demand[46]. Compliance and Risk Management - The company has established a comprehensive internal control framework to ensure compliance and protect shareholder interests[168]. - The internal control system was audited by a third-party firm, resulting in a standard unqualified opinion on its effectiveness[169]. - The company has not faced any delisting risk or related warnings during the reporting period[199]. - The company has not reported any significant accounting errors that required correction during the reporting period[198]. - There are no reported instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[196]. Social Responsibility and Sustainability - The company maintains a commitment to social responsibility, actively participating in community welfare initiatives while ensuring sustainable development[178]. - The company has implemented energy-saving paints on 10 vessels, resulting in a 1.5% increase in fuel efficiency per ton of fuel per nautical mile[177]. - New energy-efficient ships are being constructed with optimized hull designs to reduce fuel consumption compared to previous models[175]. - The company has committed to protecting employee rights and fostering a collaborative growth environment[178]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year[134]. - New product launches are expected to contribute an additional $200 million in revenue over the next year[134]. - Market expansion plans include entering two new international markets by Q3 2022[134]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[134].