Shuifa Energas(SH:603318)2023-10-27 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 achieved operating revenue of CNY 2,397,285,306.64 in 2021, representing a year-on-year increase of 134.69%[24] - Net profit attributable to shareholders reached CNY 41,217,797.72, a growth of 72.30% compared to the previous year[27] - 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] - The company reported a significant increase in natural gas imports, with a total of 167.5 billion cubic meters in 2021, of which LNG accounted for 65%[47] - The LNG business generated revenue of CNY 1,467,136,562.39, up 115.22% year-on-year, driven by increased production capacity and sales from the Ordos LNG liquefaction plant[65] - The gas operation business, which includes five town gas projects, reported revenue of CNY 70,499,710, a significant increase of 448.71% year-on-year, mainly due to the consolidation of two town gas companies acquired in November 2020[65] Investments and Acquisitions - The company invested over 30 million RMB in the LNG sector, enhancing the helium recovery process with a production capacity of 500 standard cubic meters per day and an annual output of 165,000 cubic meters[40] - The company completed the acquisition of controlling stakes in the "Changtu-Tongliao-Holin Gol" natural gas pipeline project, which has a maximum transmission capacity of 1.8 billion cubic meters per year[40] - The company acquired a 51% stake in Tongliao Longshengfeng and Tieling Longshengfeng, expanding into the upstream natural gas long-distance pipeline business[50] - The company has acquired five town gas companies and two long-distance pipeline companies, resulting in substantial goodwill that may be subject to impairment risks[117] Research and Development - The company’s technology investment for the year was 12.79 million RMB, resulting in 15 patent applications and 27 patents granted[43] - The company invested 12.79 million yuan in R&D in 2021, applying for 15 patents and obtaining 27 patents, with a focus on technology innovation and cost reduction[56] - The company is investing 100 million RMB in R&D for new energy technologies over the next three years[135] - The company has emphasized the importance of research and development for new products and technologies to stay competitive in the market[128] Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5] - The company has detailed potential risk factors in the section discussing operational conditions and future development[8] - The company recognizes potential policy risks that could impact market supply and demand, and plans to adapt to changes in industry regulations and pricing mechanisms[115] - The company faces operational risks due to downstream market demand fluctuations, particularly influenced by macroeconomic downturns and policy changes, which may impact natural gas consumption growth[116] Corporate Governance - The report includes a standard unqualified audit opinion from the accounting firm[7] - The company has established a transparent performance evaluation and incentive mechanism for its directors and managers, ensuring compliance with relevant laws and regulations[122] - The company has not faced any regulatory measures or disciplinary actions during the reporting period, maintaining its obligations for timely and accurate information disclosure[122] - The company has implemented safety management as a priority, with no major gas safety incidents reported during the reporting period, although risks remain due to potential user errors[117] Market Strategy - The company aims to leverage its recent acquisitions to drive future profitability and growth[27] - The company is focused on expanding its market presence and enhancing its brand recognition in the natural gas sector[54] - The company aims to become a leading domestic natural gas operator by leveraging its strong state-owned enterprise background and focusing on urban gas, LNG business, and distributed energy as core areas[109] - The company is exploring opportunities for international expansion to diversify its market reach[139] Social Responsibility - In 2021, the company donated 100,000 yuan to the Ordos Education Foundation to support local impoverished students and improve the learning environment[175] - The company contributed 200,000 yuan to the Ordos Revolutionary Old Area in October 2021 for maintenance and construction, continuing its involvement in the "Hundred Enterprises Help Hundred Villages" initiative[175] - The company donated 250,000 yuan to the Shandong Women and Children Development Foundation to promote the health and education of women and children in Shandong Province[176] - The company is actively working to improve rural energy structures by providing clean natural gas, significantly reducing air pollution and carbon emissions[174] Employee Development - The company organized or participated in a total of 225 training sessions, accumulating 710 hours of training for employees in 2021[161] - The company has established a training plan for 2022 focused on enhancing management capabilities and technical skills among employees[161] - The total number of employees in the parent company and major subsidiaries is 524, with 167 in the parent company and 357 in subsidiaries[158] - The company has a diverse workforce, including 220 production staff, 31 sales personnel, 111 technical staff, 35 financial staff, and 127 administrative staff[158]