远大控股(000626) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥81,561,908,376.25, representing a 38.14% increase compared to ¥59,041,455,357.74 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥222,141,582.30, a significant turnaround from a loss of ¥113,193,841.51 in 2020, marking a 296.25% increase[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥106,101,976.91, up 129.60% from ¥46,212,410.38 in 2020[18]. - The net cash flow from operating activities was ¥767,587,134.79, a 325.56% increase from a negative cash flow of ¥340,301,495.45 in 2020[18]. - The basic earnings per share for 2021 was ¥0.43, compared to a loss of ¥0.21 per share in 2020, reflecting a 304.76% improvement[18]. - The total assets at the end of 2021 were ¥7,628,880,311.03, a 15.34% increase from ¥6,614,086,516.44 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were ¥2,880,831,939.26, up 9.12% from ¥2,640,159,069.96 at the end of 2020[18]. - The weighted average return on equity for 2021 was 8.05%, a recovery from -4.17% in 2020, indicating a 12.22% improvement[18]. Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately ¥17.87 billion, ¥22.04 billion, ¥20.16 billion, and ¥21.48 billion respectively, showing a strong performance in Q2[22]. - The revenue from commodity trading accounted for 99.82% of total operating revenue, amounting to ¥81.41 billion, which is a 38.14% increase from the previous year[60]. - Domestic sales contributed ¥70.70 billion, accounting for 86.68% of total revenue, with a year-on-year growth of 38.48%[60]. Strategic Initiatives - The company aims to integrate vertically across the palm oil supply chain, enhancing its competitive edge in the market[32]. - The company is focusing on the high-end edible oil market, which is expected to grow due to rising consumer health awareness and income levels[31]. - The company has established over 30 subsidiaries and is actively expanding its business in multiple countries and regions, emphasizing the integration of trade and high-tech agriculture[36]. - The company plans to acquire Guangdong Hongxin to enter the specialty oils market, further deepening its full industry chain layout[38]. - The company has initiated the industrialization process of ecological agriculture, collaborating with the Chinese Academy of Agricultural Sciences to establish a research and development center[40]. Environmental and Social Responsibility - The company is committed to environmental, social, and governance performance, aligning its operations with national goals for carbon neutrality and ecological protection[36]. - The company aims to achieve zero emissions in industrial wastewater and waste during the production of its biological pesticides, aligning with environmental sustainability goals[45]. - The company emphasizes social responsibility, providing equal employment opportunities and adhering to labor laws[170]. - The company continues to promote the "Yuan Da Anxin Village" social welfare project, donating educational materials to schools in need[170]. Risk Management - The company has developed a comprehensive risk management system to ensure effective control of risks while pursuing profit[42]. - The company has identified several key risks, including market risk and liquidity risk, which it is actively managing[92]. - The company has established a risk management system to monitor market risks associated with its hedging business model, ensuring effective execution of its strategies[110]. - The company is implementing strategies to mitigate foreign exchange risks, utilizing appropriate hedging tools to minimize the impact of currency fluctuations on its operating performance[111]. Corporate Governance - The company adheres to regulatory requirements for corporate governance, ensuring compliance with laws and maintaining the interests of all shareholders[114]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring no conflicts of interest[116]. - The company is committed to a production and operational model that is independent from its controlling shareholders, ensuring no competitive conflicts arise[119]. - The board of directors has been proactive in addressing potential risks related to goodwill impairment and management team integration during acquisitions[144]. Subsidiary Developments - The company acquired 100% equity of Liaoning Weike Biological Engineering Co., Ltd. and 85.1166% equity of Fujian Kaili Biological Products Co., Ltd. in 2021[138]. - The newly established subsidiary, Yuan Da Energy Chemical (Singapore) Co., Ltd., reported revenue of CNY 82,755,503.12 but incurred a net loss of CNY 6,128,397.30 during the reporting period[190]. - The company also established Yuan Da Rubber (Singapore) Co., Ltd., which generated revenue of CNY 522,644,021.01 with a net loss of CNY 898,312.71[190]. Future Outlook - The company plans to expand its market presence, focusing on new product development and technological advancements[92]. - The company aims to transition from a B2B model to a B2C model by developing small packaged palm oil products and exploring high-value specialty oils[107]. - The company is likely to pursue further strategic initiatives, including potential mergers and acquisitions, to bolster its market position[128].