常宝股份(002478) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 4,226,439,754.36, representing a 7.22% increase compared to CNY 3,941,856,261.22 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 135,829,222.15, which is a 9.85% increase from CNY 123,649,130.24 in 2020[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 48.97% to CNY 40,549,754.85 from CNY 79,466,327.88 in 2020[20]. - The net cash flow from operating activities for 2021 was CNY -482,757,773.40, a significant decline of 171.90% compared to CNY 671,468,657.33 in 2020[20]. - The basic earnings per share for 2021 increased by 15.38% to CNY 0.15 from CNY 0.13 in 2020[20]. - The total assets at the end of 2021 were CNY 6,970,682,706.84, reflecting a 1.20% increase from CNY 6,887,804,718.31 at the end of 2020[20]. - The net assets attributable to shareholders decreased by 3.93% to CNY 4,239,883,161.83 from CNY 4,413,495,315.99 at the end of 2020[20]. - The weighted average return on net assets for 2021 was 3.15%, an increase of 0.39% from 2.76% in 2020[20]. Revenue Breakdown - The steel pipe business generated RMB 4.083 billion in revenue, representing 96.61% of total revenue and a year-on-year increase of 19.22%[42]. - The boiler pipe segment saw a significant revenue increase of 51.66%, reaching RMB 1.512 billion, while oil casing revenue decreased by 2.47% to RMB 1.804 billion[42]. - Internal sales accounted for 72.72% of total revenue, with a year-on-year increase of 7.81%, while external sales grew by 5.67% to 27.28% of total revenue[42]. Market Position and Strategy - The company maintained a strong market position in the small-diameter special pipe market, with a focus on high-pressure boiler pipes and oil pipes, despite overall industry challenges[30]. - The company is actively expanding its market share in traditional markets and niche segments, strengthening its brand trust and product quality[34]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2023[78]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge in the steel industry[84]. Research and Development - Research and development expenses increased by 19.87% to ¥158,624,525.58, representing 3.75% of operating revenue[52][54]. - The company has established a high-standard CNAS laboratory and various research facilities to enhance its R&D capabilities in seamless steel pipe technology[37]. - Jiangsu Changbao aims to invest 300 million CNY in R&D for new technologies over the next two years[78]. Environmental Compliance - Jiangsu Changbao is classified as a key pollutant discharge unit, with organized emissions meeting regulatory standards[172]. - The company reported a total of 57.17 tons per annum of particulate matter emissions, which were within the allowable limits[172]. - The company has implemented measures to ensure compliance with environmental regulations and maintain operational standards[172]. Governance and Management - The company’s governance structure complies with relevant laws and regulations, ensuring equal rights for all shareholders and independent operation of the board and supervisory committee[104]. - The company has established an independent financial department with dedicated personnel, maintaining separate bank accounts and fulfilling tax obligations independently[109]. - The company has a robust governance structure with independent directors ensuring compliance and oversight[124]. Employee Engagement and Welfare - The company has implemented various training programs, including "Training Topic Month" and "Old to New" mentorship initiatives, to enhance employee development[184]. - The company has provided social insurance and assistance programs for employees, including major illness relief and family support, fostering a harmonious work environment[184]. - The total number of employees at the end of the reporting period was 1,745, with 454 in the parent company and 1,291 in major subsidiaries[149]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares (before tax) to all shareholders[6]. - The company has committed to increasing cash dividends proportionally in the event of significant investment projects or cash expenditures[195]. - The company has not proposed a cash dividend distribution plan for the reporting period despite having positive distributable profits[155]. Financial Liabilities and Investments - The company’s total financial liabilities remained at ¥0.00, indicating no financial debt at the end of the reporting period[66]. - The company has ongoing significant non-equity investments, including a project with an investment amount of ¥88,410,000 for specialized energy production[70]. - The company has made significant equity investments, including a major investment in a medical service company, with a total investment amount of ¥25,240,000[69].