Libert(SH:605167)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,983,072,362.25, representing a 31.73% increase compared to CNY 1,505,441,045.08 in 2020[24] - The net profit attributable to shareholders for 2021 was CNY 109,453,877.77, a 5.05% increase from CNY 104,195,357.86 in 2020[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 90,299,349.73, a decrease of 4.57% from CNY 94,624,506.23 in 2020[24] - The net cash flow from operating activities for 2021 was CNY 149,752,822.78, an increase of 49.30% compared to CNY 100,305,343.12 in 2020[24] - The total assets at the end of 2021 were CNY 2,197,905,443.59, a 45.34% increase from CNY 1,512,273,937.86 at the end of 2020[24] - The net assets attributable to shareholders at the end of 2021 were CNY 1,346,039,364.33, reflecting a 67.90% increase from CNY 801,687,349.21 at the end of 2020[24] - Basic earnings per share decreased by 6.45% to CNY 0.29, while diluted earnings per share remained the same[25] - The weighted average return on equity decreased by 3.26 percentage points to 10.46%[25] Business Strategy and Operations - The company emphasizes the potential risks associated with forward-looking statements in the report[8] - The company's operating revenue increased by 31.73% year-on-year, driven by a focus on industrial module design and manufacturing, as well as integrated services across the EPFC (Engineering, Procurement, Fabrication, and Construction) value chain[25] - The company has a comprehensive EPFC capability, providing customized project construction services that enhance safety and cost-effectiveness[35] - The company is expanding its business scope as the trend towards modularization in project construction continues to grow across various industries[35] - The company has a strong technical barrier in industrial module applications, which is expected to further enhance its business development space[35] - The company possesses industry-leading design and manufacturing capabilities for large industrial modules, ensuring customized designs that meet process requirements and client standards[37] - The company has established long-term relationships with renowned multinational clients such as BASF and Honeywell, enhancing its market brand and reputation[38] - The company focuses on the design and manufacturing of industrial modules, providing customized project construction services across various industries, including chemical, oil and gas, and water treatment[43] Research and Development - Research and development expenses amounted to ¥22,562,555.41, representing 1.14% of operating revenue, with a 39.18% increase from the previous year[79] - The company has increased its investment in research and development, with 157 R&D personnel, making up 4.56% of the total workforce[80] - The company has a strong design capability for large industrial modules, having served numerous international clients since 2006[52] - The company’s modular design solutions have been recognized as a typical case of large-scale customized manufacturing in the "China Intelligent Manufacturing Green Book (2017)"[52] Market Position and Expansion - The company is positioned to become a leading global industrial module production base, leveraging the advantages of modular construction in the international division of labor[40] - The company is expanding its industrial module design and manufacturing services into the oil and gas, mining, and water treatment sectors, driven by the trend towards modular manufacturing in project construction[98] - The company is leveraging competitive advantages in labor costs, large construction sites, and supporting infrastructure to attract overseas projects[98] - The company plans to continue expanding its market presence and enhancing its product offerings in response to growing demand[66] Financial Management and Governance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[6] - The board of directors has approved the profit distribution plan, which is subject to shareholder approval[7] - The company has established a governance framework with a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring effective operation[111] - The board of directors consists of 9 members, including 3 independent directors, and operates under a well-defined system that complies with relevant laws and regulations[111] - The company maintains independence from its controlling shareholder in terms of operations, personnel, assets, and finances, with no reported incidents of interest infringement[113] Environmental and Safety Management - The company has maintained a "green operation" philosophy, ensuring compliance with environmental protection laws and achieving ISO14001:2015 certification[146] - The company has actively upgraded its pollution control equipment and measures to reduce emissions from production processes[146] - The company promotes environmental awareness among employees, advocating for green office practices and low-carbon lifestyles[150] - The company prioritizes environmental protection and safety management, adhering to regulations to mitigate risks of pollution and safety incidents[106] Risks and Challenges - The company faces risks related to macroeconomic fluctuations that could impact demand in the chemical, oil and gas, mining, and water treatment sectors[104] - The company is exposed to procurement price volatility risks, particularly in materials and labor, which could affect production costs if not managed effectively[104] - The company must ensure adequate site resources for large industrial module projects to avoid delays and maintain its reputation[106] - There is a risk of talent loss as the industry demands high qualifications for management and R&D personnel, which may lead to project delays and quality issues if key staff leave[107] Shareholder Relations and Commitments - The company has a clear cash dividend policy that aligns with its articles of association and shareholder resolutions[140] - The company will not reduce its shareholdings during the lock-up period and will notify the company five trading days in advance before any reduction post-lock-up[166] - The company commits to not transferring or entrusting the management of its shares for 36 months post-IPO, ensuring stability in shareholding[153] - The company will ensure that any stock reduction after the lock-up period will not be below the initial public offering price, with adjustments made for any corporate actions[166] Financial Products and Investments - The company engaged in cash asset management, with a total of 128,500,000.00 RMB from self-owned funds and 75,000,000.00 RMB from idle raised funds in bank financial products[189] - The company has a total of 270,980,317.84 RMB in guarantees exceeding 50% of net assets[188] - The annualized return rates for bank financial products were 2.62% and 2.73% for different investments[189] - The company reported a total loan amount of RMB 3,300,000 to support the project investment gap for the solid waste disposal project in Taixing Economic Development Zone[175]