Financial Performance - In 2021, the company achieved a net profit of 76.45 million RMB, with a net profit attributable to shareholders of 41.22 million RMB[4]. - The company achieved operating revenue of CNY 2,607,847,908.94 in 2021, representing a 130.15% increase compared to CNY 1,133,102,343.10 in 2020[22]. - Net profit attributable to shareholders was CNY 41,217,797.72, a year-on-year increase of 72.30% from CNY 23,921,853.23 in 2020[25]. - The net cash flow from operating activities reached CNY 216,999,655.53, up 22.66% from CNY 176,915,178.34 in the previous year[23]. - Basic earnings per share increased to CNY 0.11, an 83.33% rise from CNY 0.06 in 2020[24]. - The weighted average return on equity improved to 4.06%, an increase of 1.55 percentage points from 2.51% in 2020[24]. - The company reported a net profit of CNY 10,004,737.86 in Q1 2021, with total operating revenue of CNY 383,249,647.12 for the same period[28]. - The company recognized non-operating income of CNY 3,771,272.66 from government subsidies in 2021[30]. - The company reported a total revenue of 76.3 million, reflecting a significant increase compared to the previous year[128]. - The company achieved a net profit margin of 397.82%, indicating strong profitability in its operations[128]. Dividend Distribution - The company plans to distribute a cash dividend of 0.25 RMB per 10 shares, totaling approximately 9.32 million RMB[4]. - The company has proposed a cash dividend of 0.2 RMB per 10 shares for the 2020 fiscal year, totaling approximately 7.56 million RMB[161]. Assets and Liabilities - The company's total assets decreased by 1.91% to CNY 2,975,321,472.93 at the end of 2021, compared to CNY 3,033,385,058.60 at the end of 2020[23]. - The company’s net assets attributable to shareholders increased by 3.65% to CNY 1,032,968,901.67 at the end of 2021[23]. - The company's total assets as of December 31, 2021, were CNY 2,975.32 million, a decrease of 1.91% year-on-year[36]. - The company's short-term borrowings increased significantly to 258,961,543.32, representing 8.70% of total assets, a 139.55% increase compared to the previous period[79]. - The company reported a 455.41% increase in accounts payable to 130,000,000.00, which is 4.37% of total assets[79]. Business Expansion and Acquisitions - The company expanded its profit sources through the acquisition of two urban gas companies, which contributed to the revenue growth in 2021[25]. - The company completed the acquisition of controlling stakes in the "Changtu-Tongliao-Holin Gol" natural gas long-distance pipeline project, which has a maximum transmission capacity of 1.8 billion cubic meters per year[38]. - The company acquired a 51% stake in the "Changtu-Tongliao-Holin Gol" natural gas long-distance pipeline project, which has a design capacity of 1.8 billion m³/year[87]. - The company acquired 51% equity in Tongliao Longshengfeng and Tieling Longshengfeng, gaining control of the "Changtu-Tongliao-Holin Gol" natural gas long-distance pipeline, which has a length of over 570 kilometers and a maximum gas transmission capacity of 1.8 billion m³/year[88]. Research and Development - The company invested CNY 12.79 million in R&D in 2021, with 15 patents applied for and 27 patents granted during the year, highlighting its commitment to technological innovation[54]. - The company achieved an annual technology investment of 12.79 million yuan, applying for 15 patents and obtaining 27 patents, which indicates a strong focus on innovation and cost reduction[41]. - Investment in R&D increased by 30% year-over-year, focusing on new technologies in gas turbine systems[133]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience and operational efficiency[130]. Market Trends and Future Outlook - The global LNG trade volume reached 377 million tons in 2021, marking a 6% year-on-year increase, showcasing a stable growth trend in the industry[43]. - The global natural gas consumption grew by 4.6% in 2021, with Asian demand increasing by 7%, indicating a robust market environment[44]. - During the "14th Five-Year Plan" period, natural gas is expected to play a crucial role in China's clean energy transition, with consumption projected to reach 4,300-4,500 billion cubic meters by 2025 and 5,500-6,000 billion cubic meters by 2030[101]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[133]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[130]. Risk Management - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the report[5]. - The company has detailed potential risk factors in the section discussing future development[8]. - The company faces policy risks due to potential changes in natural gas industry regulations, which could impact market supply and demand[112]. - LNG prices are subject to significant market fluctuations, which could impact the profitability of the company's LNG business[114]. Governance and Compliance - The report includes a standard unqualified audit opinion from the accounting firm[7]. - The company has established a comprehensive governance structure, ensuring effective operation and compliance with regulatory requirements[51]. - The company has implemented a transparent performance evaluation and incentive mechanism for its management team[119]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[118]. Employee Development and Training - The total number of employees in the parent company and major subsidiaries is 524, with 167 in the parent company and 357 in subsidiaries[155]. - The company conducted a total of 225 training sessions, accumulating 710 hours of training for employees in 2021[158]. - The company’s training plan for 2022 focuses on enhancing management capabilities and technical skills to support high-quality development[158]. Sustainability and Social Responsibility - The company is committed to reducing carbon emissions through projects like the helium extraction initiative, which utilizes BOG gas recovery[170]. - The company donated 100,000 yuan to the Ordos Education Foundation to support local impoverished students and 200,000 yuan to the Ordos Revolutionary Old Area for maintenance and construction[172]. - The company completed the installation of clean heating systems for 8,286 households in just 5.5 months, covering 7 towns and 49 villages[174].
水发燃气(603318) - 2021 Q4 - 年度财报