*ST围海(002586) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 2,580,729,389, representing a 20% increase compared to CNY 2,150,644,279 in 2020[20] - The net loss attributable to shareholders was CNY -27,375,028, a 93.33% improvement from a loss of CNY -410,349,054 in 2020[20] - The net cash flow from operating activities was CNY 100,203,772, showing a significant increase of 1,169.61% compared to CNY -72,923,536 in 2020[20] - The company's total revenue for 2020 was adjusted from CNY 1,975,083,077.40 to CNY 2,150,644,279.16, reflecting an increase of approximately 8.8%[30] - The company's total operating costs were adjusted from CNY 1,838,635,129.43 to CNY 1,989,096,927.15, indicating an increase of about 8.2%[30] - The company reported a total of CNY 99,328,932.13 in non-recurring gains and losses for 2021, compared to CNY -132,171,696.17 in 2020[37] - The company reported a total revenue of 2,302.50 million in 2021, with a significant increase compared to 2020[171] - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% year-over-year growth[178] Assets and Liabilities - Total assets at the end of 2021 were CNY 8,881,246,764, a 7.75% increase from CNY 8,242,208,932 at the end of 2020[21] - The net assets attributable to shareholders increased by 7.09% to CNY 3,577,264,805 from CNY 3,340,307,399 in 2020[21] - The company's short-term loan balance at the end of the reporting period was ¥1,182.80 million[51] - The company has a total of ¥2,597,915,168.71 in restricted assets due to various pledges and legal issues[94] - The company reported a significant increase in long-term receivables, which reached ¥3,462,957,658, accounting for 38.99% of total assets, up from 37.83% at the beginning of the year[92] Operational Highlights - The construction segment accounted for ¥2,548,941,181.28, or 98.77% of total revenue, with a year-on-year growth of 30.53%[68] - The company is recognized as a leading player in the domestic market for coastal engineering and water conservancy construction[42] - The company has implemented over 500 construction projects with a project qualification rate of 100% and over 85% of projects recognized as excellent[46] - The company has established a strong research and development team, continuously innovating construction processes to improve efficiency and reduce costs[44] - The company is actively expanding its market presence beyond Zhejiang, having gained a certain market share in provinces such as Anhui and Jiangxi[46] Risk Management - The company has identified potential risks in its operations and outlined corresponding mitigation strategies in the management discussion section[5] - The company recognized a goodwill impairment of CNY 206,540,747.86, which was included in the unappropriated profits at the beginning of the year[26] - The company identified natural disaster risks, particularly from typhoons affecting operations in coastal areas[157] - The company acknowledged construction safety risks due to the nature of its projects, which often involve complex outdoor and water-based work[157] Governance and Compliance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring a transparent decision-making process involving the board of directors and shareholders[161] - The board consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements for board composition[162] - The company has established a financial independence with a dedicated finance department and independent financial decision-making capabilities[166] - The company has implemented a robust internal control system to enhance governance and operational efficiency[161] - The company has made significant efforts to enhance information disclosure to safeguard minority shareholders' rights[193] Research and Development - R&D investment amounted to ¥22,402,936.65 in 2021, a slight increase of 0.59% from ¥22,270,959.24 in 2020[84] - The proportion of R&D investment to operating revenue decreased to 0.87% in 2021 from 1.04% in 2020, a decline of 0.17%[84] - The company is focusing on developing new technologies and processes to enhance its core competitiveness in various projects, including sludge resource utilization and complex geological seepage walls[80][82] - Investment in R&D has increased by 25%, focusing on innovative construction technologies[178] Legal and Financial Issues - The company faced issues with overdue loans, including a CNY 60 million loan from Industrial and Commercial Bank of China, which was not fully repaid upon maturity[122] - The company faced arbitration and subsequent account deductions totaling CNY 22.59 million and CNY 0.33 million due to contractual disputes[129] - The company was ordered to pay RMB 62 million in remaining equity transfer payments to Dongqian Weihai, leading to the deduction of RMB 36.79 million from its bank account[145] - The company has a total of CNY 1,000,000,000 in committed investment projects, with CNY 302,930,880 invested to date, achieving an investment progress of 30.29%[134] Future Outlook - The company plans to focus on its core business and enhance operational performance by leveraging its qualifications, performance, and technology[155] - The company aims to improve asset efficiency by disposing of low-yield investments and enhancing management of subsidiaries[156] - The company intends to strengthen its credit and expand financing channels to support ongoing and new projects[156] - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[178] - A strategic acquisition of a local construction firm is anticipated to enhance operational capabilities and increase market share[178]