QINGDA ENVIRONMENT(SH:688501)2022-03-21 16:00Financial Performance - The company achieved total operating revenue of CNY 627.92 million in 2021, representing a year-on-year growth of 12.62%[84]. - The net profit attributable to shareholders was CNY 55.89 million, with a net profit excluding non-recurring gains and losses of CNY 44.06 million[84]. - The company's total assets at the end of the reporting period were CNY 1.41 billion, and the net assets attributable to shareholders were CNY 758.12 million[84]. - The main business revenue increased by 12.85% to CNY 626.75 million, while the main business cost rose by 12.09% to CNY 427.60 million[87]. - The gross profit margin for the main business was 31.77%, an increase of 0.45 percentage points compared to the previous year[87]. - The company reported a significant increase in research and development expenses, totaling CNY 31.25 million, up 22.98% year-on-year[86]. - The company reported a 12.09% increase in total costs, amounting to CNY 427,601,239.71[94]. - The company plans to distribute a cash dividend of 1.8 yuan per 10 shares, totaling 17,040,600 yuan, which represents 30.49% of the net profit attributable to shareholders for the year 2021[5]. Research and Development - The total R&D investment amounted to ¥31,245,443.26, representing a 22.98% increase compared to the previous year, and accounting for 4.98% of the operating revenue[68]. - The company received 11 new invention patent applications and 9 utility model patent applications during the reporting period[28]. - The company has a total of 21 invention patents and 95 utility model patents as of December 31, 2021[64]. - The company has made significant advancements in core technologies through independent research and development, as well as collaboration with academic institutions[58]. - The company is focusing on full-load denitrification technology to address low-load denitrification inlet smoke temperature issues, with plans to enhance boiler efficiency through additional systems[52]. Operational Efficiency - The company aims to enhance operational efficiency, targeting a 10% reduction in costs through process optimization[140]. - The company is implementing an operational control platform project to digitize and automate management processes, improving efficiency and management effectiveness[126]. - The company has established a comprehensive welfare system, including benefits beyond statutory social insurance, such as holiday benefits, supplementary medical insurance, and annual health check-ups[170]. - The company has implemented a cost reduction and efficiency enhancement policy, optimizing process flows and improving material and equipment utilization rates to reduce greenhouse gas emissions[196]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[143]. - The company is focusing on the development of energy-saving and emission reduction solutions for non-electric industries, which are increasingly significant contributors to pollution[122]. - The company has established sales channels in Southeast Asia, Turkey, and India, and is collaborating with international partners to expand its overseas market presence[123]. - The company is committed to becoming a leading provider of comprehensive energy-saving and environmental protection solutions, driven by innovation and customer demand[121]. Environmental Responsibility - The company emphasizes ESG (Environmental, Social, and Governance) responsibilities, integrating these practices into its corporate culture and daily operations[180]. - The company has established online monitoring facilities for spray waste gas emissions, which are connected to the Qingdao Environmental Protection Bureau's monitoring system, ensuring compliance with environmental standards[194]. - The company has implemented a self-monitoring plan for environmental compliance, with all pollutant detection results meeting standards[190]. - The company has set up a dedicated safety and environmental protection department responsible for establishing and improving environmental protection systems and conducting regular environmental training[198]. Governance and Compliance - The company has a governance structure that complies with legal requirements, with a board of directors consisting of 9 members, including 3 independent directors, ensuring effective decision-making and oversight[130]. - The company strictly adhered to relevant laws and regulations for information disclosure, ensuring accuracy and completeness during the reporting period[132]. - The company maintains independence from its controlling shareholder, ensuring that decision-making processes are not interfered with[131]. - The company has established performance evaluation and incentive mechanisms for its directors and senior management, promoting transparency in appointments[131]. Risks and Challenges - Risks include potential fluctuations in raw material prices, which significantly impact production costs and profit margins[79]. - Seasonal revenue patterns are evident, with a high concentration of income in the fourth quarter, leading to potential losses in the first half of the year[79]. - The company plans to actively respond to macroeconomic risks and uncertainties in the international market due to the ongoing global pandemic[83].