DELONG CO-ENERGY(SZ:000593)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,507,498,714.09, representing an increase of 18.19% compared to ¥1,275,434,692.59 in 2020[19] - The net profit attributable to shareholders for 2021 was ¥50,492,433.84, a growth of 44.58% from ¥34,922,703.29 in the previous year[19] - The net cash flow from operating activities reached ¥210,937,561.81, marking a significant increase of 92.21% compared to ¥109,745,288.35 in 2020[19] - Basic earnings per share for 2021 were ¥0.141, up 45.36% from ¥0.097 in 2020[20] - The total assets at the end of 2021 amounted to ¥2,162,049,265.82, reflecting a 2.86% increase from ¥2,101,925,820.46 at the end of 2020[20] - The net assets attributable to shareholders increased to ¥1,052,073,376.75, a rise of 4.99% from ¥1,002,076,140.93 in the previous year[20] - The weighted average return on equity for 2021 was 4.91%, an increase of 1.34 percentage points from 3.57% in 2020[20] - The net profit after deducting non-recurring gains and losses for 2021 was ¥44,707,915.97, which is a 37.07% increase from ¥32,617,009.08 in 2020[19] - The company achieved a gross profit increase of ¥957.55 million due to the growth in its main business, contributing to an operating profit increase of 28.39%[59] - The company expanded its gas supply and related revenue to ¥1,395,981,141.99, which accounted for 92.60% of total revenue, marking a 21.17% increase from the previous year[61] Operational Highlights - The company has not reported any significant changes in its main business operations since its last major shift in 2016[18] - In Q4 2021, the company's operating revenue reached ¥429,996,610.57, showing a significant increase compared to Q3 2021's ¥368,664,570.17[24] - The net profit attributable to shareholders for Q2 2021 was ¥16,677,698.54, which increased to ¥22,137,341.41 in Q3 2021, before dropping to ¥11,220,296.22 in Q4 2021[24] - The company reported a net cash flow from operating activities of ¥111,153,403.23 in Q4 2021, a substantial improvement from a negative cash flow of -¥23,524,335.81 in Q1 2021[24] - The company operates in over 10 provinces and municipalities, serving approximately 500,000 gas users with an annual gas sales volume of over 4.45 billion cubic meters[31] - The company has established long-term partnerships with multiple gas suppliers, ensuring a stable gas source for its operations[32] - The company has been actively involved in the natural gas industry for 17 years, positioning itself as a leader in clean energy solutions[31] Market and Industry Trends - The natural gas production in China reached 205.3 billion cubic meters in 2021, representing a year-on-year growth of 8.20%[29] - The apparent consumption of natural gas in China was 372.6 billion cubic meters in 2021, with a year-on-year increase of 12.70%[29] - China's natural gas import dependency rose to 44.90% in 2021, indicating a growing reliance on foreign gas supplies, with LNG imports contributing significantly to this increase[111] - The company aims to increase the share of natural gas in China's energy consumption from the current 8% to nearly 16% over the next decade, indicating significant growth potential in the natural gas sector[113] Strategic Initiatives - The company is focused on expanding its CNG/LNG operations, achieving unmanned supply and real-time monitoring of station data[31] - The company has developed a comprehensive LNG business model that includes trade, transportation, and sales, supported by 32 specialized LNG transport vehicles and multiple service points[34] - The company plans to strengthen the integration of the entire natural gas industry chain, expanding upstream gas source channels and resource volume, while enhancing midstream pipeline construction and transportation capacity[114] - The company will actively seek high-quality gas project acquisition targets to expand its operational scope and enhance market presence[116] - The company aims to capitalize on opportunities in the renewable energy sector, including hydrogen, energy storage, and photovoltaics, to drive performance[117] Governance and Management - The company maintained an independent operational structure, ensuring no interference from the controlling shareholder in business, personnel, assets, and finances[135] - The governance structure includes a clear division of responsibilities among the board, supervisory board, and management[126] - The company has established a comprehensive internal control system to enhance compliance and risk management[126] - The company has a strategic focus on innovation and technology development to improve operational efficiency and product quality[145] - The company has established a performance-based compensation system to ensure relative fairness across departments, aligning employee goals with corporate strategy[171] Employee and Investor Relations - The total number of employees at the end of the reporting period was 1,039, including 43 at the parent company and 996 at major subsidiaries[169] - The company has maintained a 100% response rate to investor inquiries, enhancing the quality of investor relations management[189] - The company emphasizes investor relations management, with a dedicated secretary and securities department for daily operations[133] - The company conducted safety operations, completing 392,727.8 kilometers of pipeline inspections and maintaining 10,536 equipment units during the reporting period[193] Challenges and Risks - The company anticipates risks related to natural gas resource scarcity due to international tensions affecting energy supply stability[121] - The company recognizes the cyclical nature of the natural gas industry, which may lead to production, supply, and price fluctuations impacting operations[121] - The company will continue to monitor policy changes in the natural gas market to adapt to new supply methods and potential uncertainties[121]