BSGCO(SZ:000959)2022-04-28 16:00Company Overview - The company’s stock code is 000959, and it is listed on the Shenzhen Stock Exchange [18]. - The company’s registered address is located at Shijingshan Road, Shijingshan District, Beijing, with a postal code of 100041 [18]. - The company has maintained its main business operations without any changes since its listing [18]. - The accounting firm responsible for auditing the company is Deloitte Touche Tohmatsu Certified Public Accountants LLP [19]. - The company’s board of directors and senior management have confirmed the accuracy and completeness of the annual report [6]. - The company’s chairman is Zhao Minge, and the general manager is Liu Jianhui [18]. - The company has a total of 82.7688% ownership in Shougang Zhixin Qian'an Electromagnetic Materials Co., Ltd. [16]. - The company’s board secretary is Chen Yi, who can be contacted at 010-88293727 [18]. Financial Performance - The company's operating revenue for 2021 was ¥134.03 billion, an increase of 67.65% compared to ¥79.95 billion in 2020 [21]. - The net profit attributable to shareholders for 2021 reached ¥7.01 billion, a significant increase of 292.64% from ¥1.79 billion in 2020 [21]. - The net cash flow from operating activities was ¥15.04 billion, up 46.42% from ¥10.27 billion in 2020 [21]. - The basic earnings per share for 2021 was ¥1.1291, representing a growth of 234.35% compared to ¥0.3377 in 2020 [21]. - The total assets at the end of 2021 were ¥147.21 billion, a slight increase of 1.97% from ¥144.37 billion at the end of 2020 [21]. - The company reported a weighted average return on equity of 19.07%, an increase of 12.67 percentage points from 6.40% in 2020 [21]. - The company's debt-to-asset ratio decreased to 66.59%, down 6.51 percentage points from the previous year [46]. - The gross profit margin for the metallurgical industry was 11.29%, reflecting a year-on-year increase of 3.18% [49]. Production and Operations - The production of oriented electrical steel in China reached approximately 1.83 million tons in 2021, supporting the country's dual carbon policy [31]. - The company has become a global leader in the manufacturing of electrical steel, with a focus on high-performance products for the power and electronics industries [32]. - The company operates a large steel base designed with a circular economy concept, enhancing efficiency and reducing costs [32]. - The production of high magnetic permeability oriented electrical steel reached 54,000 tons, a 74% year-on-year increase, capturing a 60% market share [37]. - The automotive board production increased by 5% to 3.55 million tons, with significant growth in high-strength and galvanized products, achieving a 93% increase in order volume [37]. - The production of tinplate (tin-coated steel) reached 630,000 tons, with a capacity utilization rate of 120%, and significant exports to North America [38]. - The production of electrical steel was 1.50 million tons, a decrease of 2.7% year-on-year, while the sales revenue from soft magnetic materials was 13.31 billion yuan, accounting for 9.93% of total revenue [46]. Research and Development - Research and development investment reached 5.3 billion yuan, representing 3.97% of total revenue in 2021, with 450 patents granted, including 182 invention patents [34][35]. - The company is actively involved in the research and development of new technologies, including low-temperature slab heating processes for high magnetic induction oriented electrical steel [32]. - The company is developing new technologies and products, including low-temperature oriented silicon steel and high-performance electrical steel, to enhance market competitiveness [59]. - The company's R&D investment increased by 62.68% to approximately CNY 5.32 billion in 2021, compared to CNY 3.27 billion in 2020 [61]. Environmental Initiatives - The company’s green manufacturing initiatives have earned it multiple accolades, including recognition as a green low-carbon benchmark enterprise in the steel industry [40]. - The company is committed to enhancing its green initiatives and aims to implement low-carbon technologies to meet environmental regulations [88]. - The company has constructed 225 air pollution control facilities, including dust removal and desulfurization systems, to efficiently treat various emissions [162]. - The company achieved 100% compliance with pollutant discharge standards through self-monitoring and supervision by environmental authorities [161]. - The company has invested in new technologies to enhance its emission control systems, aiming for further reductions in particulate matter and sulfur emissions [158]. Strategic Focus and Future Outlook - The company aims to enhance profitability and innovation while improving asset quality and operational efficiency as part of its "Two Strong, Three Excellent" strategy [85]. - The company is focused on expanding its market presence and has outlined strategies for future growth, including potential mergers and acquisitions [93]. - The company plans to invest 4.364 billion CNY in fixed assets, with the largest allocation of 2.389 billion CNY to the Jing Tang company [86]. - The company is committed to becoming a large, comprehensive, and internationally competitive steel listed company [85]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its capabilities in environmentally friendly technologies [158]. Governance and Management - The company has a robust corporate governance structure, including a shareholders' meeting, board of directors, and supervisory board, operating independently [98]. - The company has established a performance evaluation mechanism for senior management, linking stock incentives to key performance indicators such as return on equity and operating profit growth [149]. - The company has maintained effective internal controls in all significant aspects as of December 31, 2021 [154]. - The company has actively engaged with over 40 investment analysts and institutions to foster strong investor relations [93]. - The company held its annual shareholder meeting with a participation rate of 77.05% on June 29, 2021 [101]. Employee Development - The company’s talent development strategy includes a multi-level training system, with notable awards received by employees for their contributions [43]. - The company organized over 150 training projects throughout the year, enhancing the skills of its workforce and supporting high-quality development [139]. - The total number of employees at the end of the reporting period was 17,846, including 5,646 at the parent company and 12,203 at major subsidiaries [136]. Related Party Transactions - The total amount of daily related transactions approved by the shareholders' meeting was 94,918,150 RMB, with actual transactions amounting to 93,389,460 RMB, remaining within the approved limit [195]. - The company has no significant related party transactions involving joint external investments during the reporting period [196]. - There were no related party debt and credit transactions during the reporting period [197].