新天然气(603393) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was RMB 2,616,981,738.30, representing a 23.89% increase compared to RMB 2,112,295,988.64 in 2020[26]. - The net profit attributable to shareholders of the listed company reached RMB 1,028,440,745.54, a significant increase of 186.49% from RMB 358,981,109.90 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 598,760,717.74, up 79.01% from RMB 334,492,189.13 in 2020[26]. - The net cash flow from operating activities was RMB 1,461,165,787.72, reflecting a 53.15% increase compared to RMB 954,065,486.13 in the previous year[26]. - Basic earnings per share increased by 182.11% to CNY 2.68 from CNY 0.95[29]. - The weighted average return on equity improved by 17.28 percentage points to 31.03% from 13.75%[29]. - Operating income for Q4 reached CNY 917,837,313.99, with a total annual revenue of CNY 2,891,982,738.30[30]. - Net profit attributable to shareholders for Q4 was CNY 120,420,463.73, contributing to an annual net profit of CNY 1,028,440,745.54[30]. - The company achieved operating revenue of 2.617 billion yuan, a year-on-year increase of 23.89%[41]. - Net profit attributable to shareholders reached 1.028 billion yuan, up 186.49% year-on-year, with a basic earnings per share of 2.68 yuan[41]. Cash Flow and Dividends - As of December 31, 2021, the company's distributable profit was RMB 516,809,594.20, with a proposed cash dividend of RMB 5.5 per 10 shares[6]. - The company plans to retain undistributed profits for future distribution[6]. - The company plans to distribute cash dividends of 5.5 RMB per 10 shares (including tax), totaling approximately 232.39 million RMB based on 422,521,335 shares after accounting for repurchased shares[142]. - The company has established a cash dividend policy to distribute no less than 20% of the distributable profits attributable to shareholders of the parent company, ensuring stable returns for investors[141]. Operational Highlights - The company produced 1.298 billion cubic meters of self-produced coalbed methane, with the PanZhuang block contributing 1.175 billion cubic meters, a growth of 21.46%[41]. - Natural gas sales amounted to 1.917 billion cubic meters, with a sales price of 1.80 yuan per cubic meter in the PanZhuang block, an increase of 26.76% year-on-year[41]. - The company maintained a weighted average return on net assets of 18.06% after deducting non-recurring gains and losses[41]. - The company emphasized technological innovation, achieving record high annual drilling numbers and production in the MaBi block[41]. - The company has a total pipeline length of 1,066.19 kilometers and serves over 590,000 customers as of December 31, 2021[53]. Market and Strategic Developments - The company plans to continue expanding its market presence and invest in new product development to drive future growth[39]. - The company is positioned as a leading player in the natural gas industry, leveraging its coalbed methane extraction technology and self-owned gas sources[45]. - The company actively developed non-gas businesses to increase market share and create new profit growth points[41]. - The company aims to expand its business scale and increase sales volume by enhancing communication with local price authorities[51]. - The company plans to strengthen its market development and customer service to reduce customer concentration risk[52]. Risks and Challenges - The company faces risks related to government policy changes, which can significantly impact market development and pricing mechanisms[100]. - Increased competition among urban gas companies is expected due to the strategic layout of major players like PetroChina, making market share acquisition more challenging[100]. - The company is exposed to price control risks, as downstream pricing is regulated by local governments, affecting profit margins[103]. - The company anticipates that the demand for natural gas may decline due to advancements in alternative energy technologies and stricter pollution controls[100]. - Changes in government subsidy policies for coalbed methane production could impact the company's profitability[106]. Governance and Compliance - The company held 2 shareholder meetings during the reporting period, passing 17 resolutions to ensure transparency and protect shareholder rights[108]. - The board of directors consists of 7 members, including 3 independent directors, all of whom diligently fulfilled their responsibilities without any unexcused absences[108]. - The company published 107 announcements during the reporting period, enhancing the quality of information disclosure to investors[111]. - The company has implemented internal control measures and developed a 2021 internal control manual to ensure compliance with regulations[111]. - The company emphasizes the independence of its operations from its controlling shareholder, maintaining separate financial and operational structures[112]. Employee and Management Information - The company had a total of 825 employees, with 37 in the parent company and 788 in major subsidiaries[137]. - The workforce includes 476 production personnel, 124 sales personnel, 28 technical personnel, 42 financial personnel, and 155 administrative personnel[137]. - The company has established a multi-level compensation management and performance assessment system to align with its economic benefits and industry standards[140]. - Training programs have been enhanced to improve employee skills in compliance, technical standards, financial management, and vocational skills[141]. Environmental and Social Responsibility - The company emphasizes environmental responsibility and adheres to environmental protection policies as part of its sustainable development strategy[152]. - The company is committed to low-carbon economic development and aims to contribute to national carbon neutrality goals[152]. - The company actively engages with investors to enhance transparency and protect the interests of minority shareholders[155].