West Construction(SZ:002302)2022-04-01 16:00Financial Performance - The company reported a total revenue of 12.6 billion RMB for the year 2021, representing a year-on-year increase of 15%[19]. - The net profit attributable to shareholders was 1.2 billion RMB, an increase of 20% compared to the previous year[19]. - The company's operating revenue for 2021 was ¥26,926,362,355.54, representing a 14.96% increase from ¥23,423,095,659.18 in 2020[26]. - The net profit attributable to shareholders for 2021 was ¥844,760,214.16, which is a 7.72% increase compared to ¥784,226,229.61 in 2020[26]. - The company reported a total of ¥93,462,856.54 in non-recurring gains and losses for 2021, significantly higher than ¥48,240,587.91 in 2020[30]. - The company achieved a significant increase in the proportion of capitalized R&D investment, rising to 9.03% of total R&D investment in 2021 from 5.98% in 2020[74]. - The total distributable profit for the company was 1,059,897,645.00 CNY, with cash dividends representing 100% of the profit distribution[150]. Market Expansion and Strategy - The company aims to expand its market presence in the southwestern region, targeting a 25% increase in market share by 2023[19]. - User data indicates a growth in project contracts, with a total of 150 new contracts signed in 2021, up 10% from 2020[19]. - The company plans to introduce Anhui Conch Cement Co., Ltd. as a second-largest shareholder through a private placement to optimize its capital structure[43]. - The company aims to sign new contracts worth 55 billion yuan and achieve revenue of 29 billion yuan with a total profit of 1.25 billion yuan in 2022[101]. Research and Development - The company’s R&D expenditure increased by 30% in 2021, reflecting its commitment to innovation and technology advancement[19]. - The company has allocated 200 million RMB for research and development in new technologies aimed at improving construction efficiency[123]. - The company has developed a method for preparing ultra-heavy radiation-resistant concrete, addressing technical challenges in the preparation and construction of radiation-resistant structures[64]. - The company has established a national-level postdoctoral research station and multiple technology centers, enhancing its core competitiveness in the concrete industry[176]. Environmental and Sustainability Initiatives - The company has been recognized as a "Green Environmental Protection Demonstration Enterprise" in the concrete industry, emphasizing its commitment to sustainable practices[45]. - The company has developed a plan for "carbon peak and carbon neutrality" and has initiated energy-saving and emission-reduction measures[170]. - The company invested 25.25 million yuan in environmental protection expenses and paid 1.1042 million yuan in environmental protection tax during the reporting period[170]. - The company has installed automatic monitoring equipment for pollution sources and connected it to the local monitoring center[168]. Governance and Compliance - The company has established a complete governance structure in compliance with relevant laws and regulations, enhancing its governance capabilities during the reporting period[108]. - The company has not engaged in any related party transactions that violate regulations or involve improper fund occupation by the controlling shareholder[113]. - The company has implemented measures to ensure fair treatment of all shareholders, particularly minority shareholders, during shareholder meetings[108]. - The company has established a transparent information disclosure system, ensuring timely and accurate communication with investors[112]. Employee and Management - The total remuneration for all directors, supervisors, and senior management from the company was 11.8767 million yuan, with independent directors receiving a total of 180,000 yuan[130]. - The company has implemented a "1138+X" youth talent development program to align with its 14th Five-Year Plan and long-term strategic development[148]. - The total number of employees at the end of the reporting period was 5,614, with 142 in the parent company and 5,472 in major subsidiaries[144]. - The company has not faced any penalties from securities regulatory agencies for its directors, supervisors, and senior management in the past three years[129]. Challenges and Risks - The company has identified key risks, including fluctuations in raw material prices and regulatory changes, which may impact future performance[5]. - The company anticipates that the concrete industry growth rate will slow down due to macroeconomic policies and rising raw material costs[98]. - The company recognizes the risks associated with macroeconomic fluctuations and will adapt its strategies accordingly[102]. - The company will focus on risk prevention, particularly in investment, accounts receivable, safety, and environmental protection[102].