GXED(SH:900913)2022-04-18 16:00Financial Performance - In 2021, the company achieved a net profit of RMB 76,846,863.10, with a cumulative distributable profit of RMB 39,436,036.95 after accounting for retained earnings and surplus reserves[5]. - The total revenue for 2021 was RMB 12,607,623,861.14, representing a year-on-year increase of 2.30% compared to RMB 12,324,332,515.13 in 2020[23]. - The net profit attributable to shareholders of the listed company was RMB 45,361,703.30, a significant recovery from a loss of RMB 691,187,914.09 in the previous year, marking a 106.56% increase[23]. - The net cash flow from operating activities reached RMB 2,595,438,768.04, a substantial increase of 239.10% from RMB 765,384,452.56 in 2020[24]. - Total assets at the end of 2021 amounted to RMB 32,482,875,023.80, reflecting a 3.20% increase from RMB 31,477,175,149.35 at the end of 2020[24]. - The company's net assets attributable to shareholders were RMB 3,593,991,572.37, showing a slight decrease of 0.72% from RMB 3,619,936,550.86 in 2020[24]. - Basic earnings per share increased to CNY 0.03 from a loss of CNY 0.64 in the previous year, representing a 104.69% improvement[25]. - The weighted average return on equity improved to 1.05% from -17.43% year-on-year, an increase of 18.48 percentage points[25]. - The company reported a total operating revenue of CNY 5,935,795,732.98 in Q4 2021, with a net profit of CNY 138,011,642.06 attributable to shareholders[29]. Revenue and Growth Strategies - The company reported a significant increase in revenue from core business activities, with a net operating revenue of RMB 10,748,477,294.60, up 4.44% from the previous year[23]. - The company achieved operating revenue of 12.61 billion RMB in 2021, an increase of 2.30% compared to the previous year[49]. - The company provided a positive outlook for 2022, projecting a revenue growth of 20% to 1.44 billion[105]. - New product launches are expected to contribute an additional 200 million in revenue in 2022[105]. - Market expansion plans include entering two new regions, which are projected to increase market share by 10%[105]. - The company is considering strategic acquisitions to enhance its product portfolio, with a target of 300 million in potential acquisitions[105]. Operational Efficiency and Cost Management - The company implemented a series of cost reduction and efficiency enhancement measures, including financial management improvements and budget management, aiming to lower controllable costs throughout the year[39]. - The total cost of raw materials for the current period is ¥9,754,848,297.17, a decrease of 4.26% compared to the previous year's ¥10,188,651,233.71[58]. - Operating expenses were controlled at 300 million, reflecting a 5% reduction from 2020[105]. - The company is focused on enhancing governance levels and implementing corrective measures to improve internal management[154]. Market and Industry Position - The company is focusing on enhancing its resource procurement and pricing power in response to market reforms and increasing competition in the gas industry[36]. - The company aims to improve resource allocation efficiency by integrating various gas sources, including domestic and international supplies[36]. - The company is actively exploring new gas sources to ensure supply stability, including cooperation with major oil companies[47]. - The company is focusing on expanding its market presence by leveraging its regional mid-pressure ring network to enhance terminal market development[38]. Risk Management and Compliance - The company has outlined potential risks in its report, advising investors to be aware of investment risks associated with future plans and strategies[7]. - The company faces risks including policy shifts towards clean energy, increased market competition, and safety production risks related to gas supply[93]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[95]. - The company has implemented a compliance management system across its subsidiaries to enhance control capabilities[97]. Corporate Governance and Management - The board of directors consists of 11 members, including 4 independent directors, and has held 9 meetings during the reporting period[96]. - The company has a diverse board with a mix of independent and non-independent directors, ensuring a balanced governance structure[102]. - The total compensation for Liu Liantao, the Vice Chairman and General Manager, was 30.76 million CNY for the reporting period[102]. - The company has implemented a robust rural assistance program, focusing on poverty alleviation and rural revitalization, including activities like consumer support for agricultural products[164]. Sustainability and Social Responsibility - The company emphasizes environmental protection and has adopted measures to reduce carbon emissions, playing a significant role in the transition to a low-carbon economy[159]. - The company is dedicated to fulfilling its social responsibilities, including ensuring gas supply for residents and supporting poverty alleviation efforts[160]. - The company is committed to maintaining the "Four No Deductions" policy during the transition period to prevent poverty rebound, ensuring essential needs are met for villagers[164]. Future Outlook - The company provided guidance for the next fiscal year, expecting revenue growth of 10% to 12%[107]. - The company is actively monitoring international energy price trends to mitigate risks associated with price volatility[85]. - Overall, the company remains optimistic about future growth, citing strong demand and a robust product pipeline[107].