ST升达(002259) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 1,512,280,932.55, representing a 57.78% increase compared to CNY 958,500,757.67 in 2020[20]. - The net profit attributable to shareholders decreased by 52.30% to CNY 50,199,960.97 in 2021 from CNY 105,233,736.72 in 2020[20]. - The net profit after deducting non-recurring gains and losses increased by 173.61% to CNY 39,196,736.83 in 2021 from CNY 14,325,911.40 in 2020[20]. - The net cash flow from operating activities was CNY 87,698,647.44, down 41.93% from CNY 151,028,598.29 in 2020[20]. - The total assets at the end of 2021 were CNY 967,473,235.71, a decrease of 8.40% from CNY 1,056,177,106.18 at the end of 2020[21]. - The net assets attributable to shareholders increased by 96.68% to CNY 114,704,700.75 in 2021 from CNY 58,319,996.27 in 2020[21]. - The basic earnings per share decreased by 52.32% to CNY 0.0667 in 2021 from CNY 0.1399 in 2020[20]. - The weighted average return on net assets dropped significantly to 60.18% in 2021 from 154.03% in 2020, a decrease of 93.85%[20]. Revenue and Sales - The total operating revenue for 2021 was ¥1,512,280,932.55, representing a year-on-year increase of 57.78% compared to ¥958,500,757.67 in 2020[43]. - The gas industry accounted for ¥1,510,026,365.83, or 99.85% of total revenue, with a year-on-year growth of 57.84%[45]. - LNG sales reached ¥1,497,996,117.86, which is 99.06% of total revenue, showing a 57.33% increase from ¥952,109,958.66 in 2020[43]. - The gross profit margin for the gas industry was 10.98%, down from 15.57% in the previous year, indicating a decrease of 4.59%[45]. Cash Flow and Financing - The total cash inflow from operating activities was ¥1,647,859,138.12, a 51.34% increase from ¥1,088,849,555.83 in 2020[54]. - The net cash flow from operating activities decreased by 41.93% to ¥87,698,647.44 from ¥151,028,598.29 in 2020[54]. - The total cash inflow from financing activities increased by 616.42% to approximately CNY 2.88 million, while cash outflow decreased by 36.41% to approximately CNY 140.31 million[56]. - The net increase in cash and cash equivalents was negative, amounting to approximately CNY -27.59 million, a decline of 132.40% compared to the previous year[56]. Debt and Legal Issues - The company continues to face significant risks related to debt defaults and legal disputes due to the financial issues of its former controlling shareholder[5]. - The company faced judicial freezes on monetary funds and other assets due to debt defaults, with CNY 101.43 million in cash being restricted[60]. - The company reported that part of the raised funds was misused due to the previous management's unauthorized guarantees, leading to significant financial constraints[65]. - The company is actively pursuing legal measures to recover 1.15 billion from the former controlling shareholder for fund misappropriation[73]. - The company has engaged in two lawsuits regarding unauthorized guarantees totaling 110 million[74]. Corporate Governance - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, ensuring transparency and protection of investor interests[83]. - The company has no controlling shareholder, allowing for independent operation of the board and management[85]. - The board consists of nine members, including three independent directors with expertise in finance, law, and gas industries[85]. - The company emphasizes investor relations management, with the board secretary responsible for daily communication with investors[88]. - The company has a dedicated investor relations management institution to ensure transparency and equal access to information for all investors[88]. Environmental and Social Responsibility - The company has implemented emergency response plans for environmental incidents, with approvals from local environmental authorities[144]. - The company has established pollution control facilities that have been operational since their completion, including gas treatment and sewage processing systems[141][139]. - The company is actively participating in poverty alleviation efforts, providing guidance and support to local communities[147]. - The company has committed to enhancing internal environmental awareness and has engaged third-party firms for soil remediation[138]. Management Changes - The company reported a resignation of the general manager and director, Mr. Lu Hao, on March 25, 2021, due to personal work reasons[99]. - The company also noted the resignation of the financial director and board secretary, Mr. Shi Yunqi, on September 30, 2021, for personal work reasons[97]. - The current chairman, Mr. Lai Xuri, has been in position since September 2020 and is a graduate of Nankai University with a background in finance[100]. - The company has appointed Ms. Yu Hong as the new general manager after the resignation of Mr. Lu Hao[99]. Future Outlook and Strategy - The company aims to increase its LNG production and sales in response to the growing demand for natural gas, with a target to reach an annual production of over 230 billion cubic meters by 2025[30]. - The company plans to expand its market presence by increasing production capacity by 20% in the next fiscal year[106]. - The company expects a revenue growth forecast of 10% for the upcoming fiscal year, driven by new product launches[107]. - The company is focused on expanding its market presence and enhancing operational efficiency through strategic management[101].