RT(SH:603036)2022-04-15 16:00Financial Performance - The company's operating revenue for 2021 was RMB 269,763,777.04, a decrease of 7.21% compared to RMB 290,718,194.62 in 2020[20]. - The net profit attributable to shareholders for 2021 was RMB 55,535,159.11, down 18.10% from RMB 67,807,109.47 in the previous year[20]. - The net cash flow from operating activities was RMB 48,301,075.73, reflecting a decline of 9.31% compared to RMB 53,256,867.34 in 2020[20]. - The basic earnings per share for 2021 were RMB 0.27, a decrease of 18.18% from RMB 0.33 in 2020[21]. - The weighted average return on equity for 2021 was 4.93%, down from 6.26% in the previous year[22]. - The total profit for the period was ¥62,233,207.59, down 21.13% compared to the previous year[42]. - Net profit amounted to ¥53,701,236.12, reflecting a decline of 19.39% year-on-year[42]. - The total revenue for 2021 was CNY 269,763,777.04, a decrease of 7.5% from CNY 290,718,194.62 in 2020[181]. - Operating profit for 2021 was CNY 62,583,920.94, down 21.9% from CNY 80,136,894.99 in 2020[182]. - The company reported a significant increase in cash received from sales, totaling ¥297,186,127.28 in 2021, compared to ¥258,352,608.64 in 2020, representing a growth of 15.0%[187]. Assets and Liabilities - The total assets at the end of 2021 amounted to RMB 1,312,811,044.14, representing a 4.04% increase from RMB 1,261,794,424.39 in 2020[20]. - The company's net assets attributable to shareholders at the end of 2021 were RMB 1,150,774,567.60, an increase of 3.26% from RMB 1,114,415,610.41 in 2020[20]. - Total liabilities increased to ¥145,760,781.32 in 2021 from ¥128,227,724.29 in 2020, reflecting a growth of around 13.7%[177]. - Shareholders' equity reached ¥1,167,050,262.82 in 2021, up from ¥1,133,566,700.10 in 2020, which is an increase of about 2.9%[177]. - The company's intangible assets increased by 31.37% to ¥35,826,363.21 from ¥27,271,440.08, driven by land use rights acquisition[57]. Research and Development - The company launched 18 new products during the year, including significant advancements in drilling automation products[31]. - The total R&D expenditure was CNY 13.81 million, accounting for 5.12% of total revenue[52]. - Research and development expenses were ¥13,813,731.39, down 12.19% year-on-year[43]. - The company applied for 16 patents during the year, including 8 invention patents, bringing the total number of valid patents to 53[31]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares, totaling RMB 24,796,608.00, subject to shareholder approval[5]. - The company distributed dividends amounting to ¥31,000,950.20 during the year, reflecting a commitment to shareholder returns[197]. Operational Efficiency - The average purchase price of scrap steel increased by 35.95% year-on-year, reaching CNY 3,531.26 per ton, contributing to a 10.42% rise in total operating costs to CNY 162 million[33]. - The company improved production efficiency, achieving an 18.78% increase in per capita output and a 13.4% reduction in internal logistics distance[32]. - The company completed the acquisition of Nantong Huitong Company, with asset transfer and operational restructuring underway[33]. Governance and Compliance - The company held 4 shareholder meetings throughout the year, ensuring compliance with legal regulations and allowing equal rights for minority shareholders[76]. - The board of directors convened 12 meetings in the year, with a structure that includes 6 members, of which 2 are independent directors, meeting regulatory requirements[76]. - The company has established a complete internal control system to enhance governance and risk management capabilities[76]. - The independent directors actively participated in board meetings and provided valuable suggestions on management and strategic decisions[78]. Market and Economic Conditions - The company reported a 15.46% decline in overseas business revenue, totaling CNY 32 million, due to the impact of COVID-19[30]. - The ongoing geopolitical tensions, particularly the Russia-Ukraine conflict, have created uncertainties in product demand within the industry[35]. - The company faces risks related to new technology development failures, international oil price fluctuations, and ongoing impacts from the COVID-19 pandemic[71]. Financial Management - The financial expenses decreased significantly by 147.75% to CNY -2.16 million compared to the previous year[51]. - The net cash flow from investing activities saw a significant decline of 152.09%, dropping to -¥34,188,360.09 from ¥65,638,898.23, primarily due to reduced recovery of financial investments and asset purchases[55]. - The company has not faced any penalties from securities regulatory agencies in the past three years[89]. Employee and Management Structure - The company employed a total of 604 staff, including 450 in the parent company and 154 in major subsidiaries[101]. - The company has implemented a differentiated salary system for administrative and production staff, with performance-based pay structures in place[103]. - The company’s management team includes experienced professionals from various industries, enhancing its operational capabilities[86]. Future Outlook - The company plans to continue investing in new product development and market expansion strategies to drive future growth[200]. - The company aims to increase oil production to 200 million tons by 2022 and stabilize it at that level by 2025, with natural gas production reaching over 230 billion cubic meters[63].