Shuifa Energas(SH:603318)2022-05-26 16:00Financial 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's operating revenue for 2021 reached CNY 2,607,847,908.94, 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 growth of 72.30% from CNY 23,921,853.23 in 2020[22]. - The net cash flow from operating activities was CNY 216,999,655.53, an increase of 22.66% compared to CNY 176,915,178.34 in 2020[23]. - Basic earnings per share for 2021 were CNY 0.11, up 83.33% from CNY 0.06 in 2020[24]. - The weighted average return on equity increased to 4.06% in 2021, up 1.55 percentage points from 2.51% in 2020[24]. - The company reported a cumulative undistributed profit of 32.67 million RMB at the beginning of the year, after accounting for the profit distribution of 7.56 million RMB for 2021[4]. - The company plans to distribute a cash dividend of 0.25 RMB per 10 shares, totaling approximately 9.32 million RMB[4]. Business Operations - The company attributed revenue growth to the LNG business and the inclusion of two gas companies in the consolidated financial statements since November 2020[25]. - The LNG production reached 196,900 tons, an increase of 59.38% year-on-year[39]. - The company added 7,937 new residential users, a growth of 143.32% compared to 2020[39]. - The company invested over CNY 30 million in the LNG sector, with a designed capacity of 500 standard cubic meters per day for helium extraction[38]. - The company completed the acquisition of controlling interest in the "Changtu-Tongliao-Holin Gol" natural gas pipeline project, which has a maximum transmission capacity of 1.8 billion cubic meters per year[38]. - The company’s LNG business generated revenue of 1.678 billion yuan, while the urban gas operation segment earned 705 million yuan, and the gas equipment segment brought in 196 million yuan, with distributed energy services contributing 23 million yuan[50]. Research and Development - The company invested 12.79 million yuan in technology development in 2021, resulting in 15 patent applications and 27 patents granted[41]. - 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]. - Research and development investment has increased by 30%, focusing on innovative gas turbine technologies[133]. Market and Strategic Goals - The company is focusing on a "3+1" strategic goal, emphasizing the natural gas industry and forming four major business segments: LNG business, urban gas operation, gas equipment manufacturing, and distributed energy services[45]. - The company aims to become a leading domestic natural gas operator by focusing on urban gas, LNG business, and distributed energy as core areas, supported by a technology innovation platform[106]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[133]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[133]. Governance and Compliance - The report includes a standard unqualified audit opinion from the accounting firm[7]. - The company has established a comprehensive governance structure, with 24 board meetings and 12 theoretical study sessions held throughout the year[42]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[118]. - The company has maintained timely and accurate information disclosure, fulfilling its obligations to shareholders[119]. 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 supply and demand dynamics[112]. - Downstream market demand for natural gas may decline due to macroeconomic factors or policy changes, affecting the company's operations[113]. Sustainability and Social Responsibility - The company is committed to sustainable practices, aiming for a 30% reduction in carbon emissions by 2025 through innovative energy solutions[128]. - The company donated 100,000 yuan to the Ordos Education Foundation to support local impoverished students and 200,000 yuan to the Ordos revolutionary area for maintenance and construction[172]. - The company’s initiatives in rural gas supply significantly reduced air pollution and carbon emissions by replacing coal and wood with clean natural gas[171]. Financial Management - The company plans to apply for a credit limit from banks for the year 2021, indicating a focus on financial flexibility and potential growth opportunities[125]. - The company has proposed to utilize idle funds for wealth management investments, aiming to enhance financial returns[123]. - The company will implement a profit distribution policy to ensure stable returns for investors, aligning with regulatory requirements[193]. Employee Development - 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 has a total of 1,980 hours of outsourced labor, with total payments amounting to 182.58 million RMB[159].