BOMESC(SH:603727)2022-03-24 16:00Financial Performance - The company achieved a consolidated net profit of RMB 166.17 million for the year 2021, with a net profit attributable to shareholders of RMB 166.17 million[6]. - The cumulative distributable profit as of December 31, 2021, was RMB 837.78 million for the consolidated entity and RMB 308.58 million for the parent company[6]. - The company's operating revenue for 2021 was approximately CNY 4.08 billion, representing a 58.22% increase compared to CNY 2.58 billion in 2020[24]. - Net profit attributable to shareholders was CNY 166.17 million, a 26.26% increase from CNY 131.62 million in 2020[24]. - The basic earnings per share for 2021 was CNY 0.67, up 15.52% from CNY 0.58 in 2020[25]. - The company achieved a record revenue of 4.081 billion yuan and a net profit of 166 million yuan during the reporting period, marking the highest performance in its 25-year history[35]. - The company reported a significant increase in cash flow from operating activities, with a net cash flow of CNY -327.27 million, a decline of 185.38% compared to CNY 383.30 million in 2020[24]. - The total assets at the end of 2021 were CNY 5.28 billion, a 24.37% increase from CNY 4.24 billion at the end of 2020[24]. - The company achieved a revenue of 4,081.12 million RMB in 2021, representing a year-on-year growth of 58.22%[59]. - Operating costs amounted to ¥3,644,305,494.82, reflecting a year-on-year increase of 57.06%[64]. Dividend Policy - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares (including tax) to all shareholders, with no stock dividends or capital reserve transfers planned[6]. - The company emphasizes a stable and continuous profit distribution policy, with at least 10% of the distributable profit allocated for cash dividends annually[162]. - The company’s profit distribution policy allows for cash dividends to be prioritized, with a minimum of 20% of the distributed profits allocated for cash dividends[162]. Risk Management and Compliance - The company has outlined potential risks in its future development strategies, which are detailed in the management discussion and analysis section of the report[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The company has confirmed that all board members can guarantee the authenticity, accuracy, and completeness of the annual report[8]. - The company is focusing on internal control management and risk assessment to ensure compliance and improve management awareness[102]. - The company has established a foreign exchange derivative trading management system to mitigate the impact of currency fluctuations on revenue and profit[112]. Operational Efficiency and Development - The company implemented various measures to optimize production efficiency, including digital management improvements and enhanced procurement processes to mitigate supply chain disruptions caused by the pandemic[36]. - The company is focusing on international development strategies to capitalize on industry opportunities and expand its market presence[33]. - The company aims to strengthen its core competitiveness through strategic adjustments and operational improvements[32]. - The company is gradually shifting its core business towards less cyclical sensitive areas, such as liquefied natural gas, to mitigate the impact of industry cyclicality on performance[103]. - The company is increasing its operational efforts in clean energy sectors, including natural gas, wind power, and hydrogen energy, to capitalize on market opportunities[104]. Research and Development - Research and development expenses totaled ¥190,317,909.11, up 51.54% compared to the previous year, representing 4.66% of total revenue[73][76]. - The company has allocated 200 million for research and development in new technologies over the next two years[131]. - The company achieved significant breakthroughs in key technologies during the reporting period, enhancing its capabilities in FPSO upper module detailed design and construction, which shortened project development cycles and reduced costs[77]. Environmental Responsibility - The company has been certified under the ISO 14001:2015 environmental management system, demonstrating its commitment to environmental responsibility[194]. - The company has committed to reducing carbon emissions through various measures, including promoting energy-saving concepts and encouraging the use of compliant transportation tools[197]. - The company has implemented pollution prevention facilities that are in good condition and operating effectively, as per environmental assessment requirements[189]. Social Responsibility - The company has committed to social responsibility initiatives, donating 2.2 million yuan to support rural revitalization and veteran employment programs[40]. - The company has established a "Youth Employment Internship Base" to provide practical opportunities for students and has committed to offering internships and training for graduates[198]. - The company donated nearly 1 million RMB in epidemic prevention materials to support frontline workers during the COVID-19 pandemic[199]. Governance and Management - The company’s board of directors consists of nine members, including three independent directors, ensuring compliance with legal requirements[116]. - The company held six shareholder meetings during the reporting period to discuss key issues including the 2020 annual report and profit distribution plans[114]. - The company successfully completed the election of the fourth board of directors and the fourth supervisory board in December 2021, ensuring governance continuity[126]. - The total pre-tax remuneration for the chairman was CNY 1.62 million, while the vice chairman received CNY 0.91 million, indicating a structured compensation strategy for executives[129]. Market Expansion - The company is focusing on the natural gas sector, which is expected to grow by 36.6% by 2040, leveraging its experience in major LNG projects like Wheatstone and Yamal[42][43]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[135]. - The company plans to invest up to 200 million USD in a private equity energy infrastructure fund focused on offshore energy projects, including FLNG and LNG terminals[89].