YEIC(SZ:002053)2022-03-24 16:00Financial Performance - The company reported a total share capital of 760,978,566, with a cash dividend of 0.20 RMB per 10 shares (including tax) and no bonus shares issued[6]. - The company's operating revenue for 2021 was CNY 2,258,831,334.92, representing a 13.49% increase compared to CNY 1,990,278,508.36 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 251,728,867.77, an increase of 8.71% from CNY 231,558,396.73 in 2020[25]. - The basic earnings per share for 2021 was CNY 0.3308, reflecting an 8.71% increase from CNY 0.3043 in 2020[26]. - The total assets at the end of 2021 amounted to CNY 9,831,039,393.36, a 2.92% increase from CNY 9,552,190,267.85 at the end of 2020[26]. - The net assets attributable to shareholders at the end of 2021 were CNY 4,415,014,989.53, up 6.07% from CNY 4,162,424,129.11 at the end of 2020[26]. - The company reported a net cash flow from operating activities of CNY 556,937,222.28 for 2021, showing a 1.35% increase from CNY 549,505,580.23 in 2020[26]. - The company achieved a total operating revenue of CNY 2,258,831,334.92, an increase of 13.49% compared to the previous year[82]. - The company's profit attributable to shareholders reached CNY 25,172.89 million, reflecting an 8.71% increase year-on-year[81]. - The total revenue for 2021 reached CNY 1,920,693,160.45, representing a year-on-year increase of 12.45%[86]. Business Strategy and Development - The company plans to expand its clean energy business, which has been enhanced by the acquisition of assets in the new energy sector[23]. - The company has maintained its dual main business model of salt and natural gas since 2016, with ongoing developments in the natural gas sector[23]. - The company is focusing on renewable energy projects, particularly wind power, to capitalize on the historical opportunity presented by the national "carbon peak and carbon neutrality" strategy[41]. - The company plans to significantly increase its wind power capacity by 437.84% with the addition of four new wind power projects totaling 1,620 MW[41]. - The company is actively pursuing a strategy of "operating a batch, developing a batch, and reserving a batch" in its renewable energy projects[65]. - The company plans to significantly increase its installed capacity by focusing on wind and solar energy projects, with a total planned capacity of 1,570 MW for three wind farms approved by the Yunnan Provincial Development and Reform Commission[55]. - The company aims to achieve a total investment of approximately 6.137 billion CNY in 2022[142]. - By the end of the "14th Five-Year Plan" (2025), the company targets total assets exceeding 35 billion CNY and operating revenue reaching 4.7 billion CNY[141]. - The company plans to sell 1.65 million tons of salt products and 2.45572 billion standard cubic meters of natural gas in 2022[142]. Risk Management - The company emphasizes the importance of risk awareness regarding macroeconomic fluctuations, industry policy risks, market competition risks, and project construction risks[6]. - The company's future plans and forecasts are subject to risks and should be approached with caution by investors[5]. - The company faces risks from macroeconomic fluctuations, which could impact demand in the salt, natural gas, and electricity sectors[143]. - The company anticipates a 26% increase in coal procurement costs and a 35.88% rise in the price of purchased soda ash, affecting production costs[149]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[4]. - The company has established a comprehensive risk management system to enhance its operational efficiency and control over product inventory and energy consumption[74]. - The company has implemented a robust internal management and control system to ensure effective operation and compliance with laws[173]. - The company maintains an independent business structure with a complete supply and sales system, ensuring no reliance on shareholders or related parties[171]. - The company has established a performance evaluation and incentive mechanism linking senior management compensation to company performance and individual achievements[170]. - The company has three independent directors, ensuring compliance with legal and regulatory requirements for board composition[170]. - The company conducts regular communication with regulatory bodies to ensure compliance and proper reporting of relevant matters[170]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility, as outlined in its annual report[19]. - The company has developed a range of natural, pollution-free salt products, enhancing its market position and contributing to economic, social, and ecological benefits in Yunnan Province[41]. - The company is actively promoting a transition towards low-carbon and market-oriented development, focusing on large-scale and intensive transformation in the new energy sector[150]. Market and Product Development - The company has established several technological and research advantages, including a provincial-level enterprise technology center and a high-tech enterprise certification[57]. - The company is developing new functional salt products aimed at reducing sugar and fat content, utilizing white kidney bean extracts[102]. - The company is focusing on the development of new technologies and products to enhance operational efficiency and sustainability[192]. - The company has successfully reduced operational costs by 5%, improving overall profit margins[200]. Stakeholder Engagement - The company has a dedicated investor relations team, including a board secretary and a securities affairs representative, to facilitate communication with stakeholders[21]. - The company actively engages with stakeholders, respecting the rights of creditors, employees, and consumers, and emphasizes social responsibility[170]. Subsidiaries and Investments - The company established a wholly-owned subsidiary for the investment and construction of the Yongning Wind Power Project in October 2021[94]. - The company’s subsidiary, Yunnan Natural Gas Co., Ltd., generated a net profit of ¥7,395,356.51, contributing significantly to the overall financial performance[131]. - The company’s subsidiary, Yunnan Salt Industry Co., Ltd., reported a net profit of ¥104,244,976.13, reflecting strong operational performance in the salt production sector[131]. - The company invested CNY 51.91 million in Guangdong Guangyan Group Co., Ltd., acquiring a 14.97% stake, which generated a net profit of CNY 96.10 million[138]. Leadership and Management Changes - The company reported significant management changes, including the resignation of Vice General Managers Yang Jian and Li Chunming on September 7, 2021[184]. - The company appointed Yang Jianjun as the new General Manager on March 19, 2021, following the resignation of previous management[184]. - The company announced the election of new board members, including Zhou Manfu as Chairman and Li Qinghua as a non-independent director on April 7, 2021[185]. - The company has undergone a significant leadership transition, with a new board and management team in place to drive future growth[184].