HSPC(SH:603353)2022-04-27 16:00Financial Performance - In 2021, the company's operating revenue reached ¥3,933,208,477.17, a significant increase of 113.35% compared to ¥1,843,528,796.40 in 2020[23]. - The net profit attributable to shareholders decreased by 46.35% to ¥91,458,626.29 from ¥170,463,081.59 in 2020[23]. - The cash flow from operating activities was negative at -¥79,184,112.30, primarily due to increased inventory and prepaid oil payments totaling ¥221,513,500[25]. - Total assets increased by 19.89% to ¥2,362,617,642.82 at the end of 2021, compared to ¥1,970,572,547.42 at the end of 2020[23]. - The basic earnings per share dropped by 50.47% to ¥0.53 from ¥1.07 in 2020[24]. - The weighted average return on equity decreased by 7.29 percentage points to 5.55% from 12.84% in 2020[24]. - The gross profit margin decreased by 12.37 percentage points to 8.63% compared to the previous year[56]. - Diesel revenue was approximately ¥1.20 billion, with a gross margin of 4.88%, down 5.98 percentage points year-on-year[56]. - Gasoline revenue was approximately ¥2.70 billion, with a gross margin of 10.31%, down 12.33 percentage points year-on-year[56]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares to all shareholders, totaling RMB 34,678,800.00, which represents 37.92% of the net profit attributable to the parent company for the year 2021[7]. - The company has not proposed any stock dividends or capital reserve transfers to increase share capital in this profit distribution plan[7]. - The cash dividend for 2020 was RMB 5.00 per 10 shares, amounting to RMB 66,690,000.00, which represented 39.12% of the net profit attributable to the parent company[122]. - The company’s cash dividend ratio for 2021 is projected to be 37.92% of the net profit attributable to the parent company[123]. - The company emphasizes a stable and diversified return mechanism for investors, balancing sustainable development with profit distribution[120]. Operational Developments - The company added 29 retail gas stations during the year, a growth of 78.79%, bringing the total to 64 stations[34]. - The company established a wholly-owned subsidiary in Guangdong, generating revenue of RMB 393.11 million since its operation began in June 2021[34]. - The company is focusing on cross-provincial mergers and acquisitions to expand its retail network and enhance operational efficiency[41]. - The company is developing an advanced information management platform to enhance customer experience and engagement[41]. - The company is developing a smart oil union platform to integrate storage, logistics, retail, and data collection, enhancing operational efficiency[42]. Risk Management - The company reported no significant risks that materially affected its production and operations during the reporting period[9]. - The company has outlined various risks and countermeasures in its report, which can be found in the section discussing operational conditions and analysis[9]. - The company faces risks from volatile international oil prices, which could impact inventory costs and gross margins; it plans to manage inventory effectively to mitigate these risks[80]. - There is a risk that new gas stations may not meet performance expectations due to various factors; the company is committed to careful site selection and establishing a professional integration team to ensure operational quality[81]. Corporate Governance - The company has maintained a standard unqualified audit report from the accounting firm Rongcheng[6]. - The company has not faced any issues with more than half of the directors being unable to ensure the authenticity, accuracy, and completeness of the annual report[9]. - The company has established specialized committees within the board, including audit, nomination, remuneration, and strategic committees, to enhance governance and oversight[108]. - The company has completed the election of the third board of directors and the third supervisory board on November 23, 2021[96]. - The company has a total of 11 directors and supervisors, with specific roles and responsibilities outlined in the report[98]. Employee and Management Information - The total number of employees in the parent company is 695, while the main subsidiaries employ 261, resulting in a total of 956 employees[115]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 5.1149 million yuan[101]. - The company implemented a performance-based compensation system, with fixed salaries adjusted according to market levels and individual qualifications, ensuring industry-leading productivity[117]. - A total of 125 training sessions were conducted, with over 750 participants and 326 lectures delivered by 74 instructors, focusing on core business and management personnel development[118]. Environmental and Social Responsibility - The company has completed the dual-layer tank renovation at its gas stations, effectively preventing groundwater and soil pollution[131]. - The company has established a waste disposal area at all gas stations, equipped with specialized containers for hazardous waste, to prevent secondary pollution[131]. - The company has actively participated in poverty alleviation efforts, promoting local agricultural products and enhancing economic development in impoverished regions[132]. - The company has donated a total of 1.485 million yuan in educational assistance to over 200 students, helping them pursue higher education[133]. Future Outlook and Strategy - The company anticipates stable growth in refined oil market demand over the next 5-10 years, despite the rapid development of new energy vehicles[75]. - The company aims to expand its refined oil retail business while exploring the transformation of existing gas stations into integrated energy supply stations[76]. - The company plans to invest in the new energy sector and gradually participate in market activities related to electric vehicle infrastructure[37]. - The company is exploring comprehensive energy solutions, including charging and hydrogen refueling services, to meet diverse customer needs while capitalizing on the existing operational resources and experience[79].