QiaoYin(SZ:002973)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,331,733,032.52, representing a 17.77% increase compared to CNY 2,829,108,743.25 in 2020[16]. - The net profit attributable to shareholders decreased by 32.08% to CNY 255,152,969.45 from CNY 375,672,082.83 in the previous year[16]. - The net cash flow from operating activities fell by 61.01% to CNY 119,095,228.02, down from CNY 305,474,021.77 in 2020[16]. - Basic earnings per share decreased by 32.61% to CNY 0.62 from CNY 0.92 in 2020[16]. - The weighted average return on equity dropped to 16.30%, down from 30.43% in the previous year, reflecting a decline of 14.13%[16]. - The company achieved a government subsidy of CNY 4,106,209.56 in 2021, down from CNY 14,183,371.92 in 2020[22]. - The total distributable profit at the end of 2021 was CNY 427,868,306.02, with a cash dividend distribution plan of CNY 40,866,332.40, representing 16.02% of the net profit attributable to shareholders[147]. - The cash dividend per 10 shares is set at CNY 1.00 (including tax), with a total of 408,663,324 shares as the basis for distribution[146]. Revenue Breakdown - The environmental sanitation management segment accounted for CNY 3,320,111,453.21, or 99.65% of total revenue, with a year-on-year growth of 19.42%[43]. - The revenue from urban and rural sanitation cleaning services was CNY 3,233,104,251.05, which is 97.04% of total revenue, reflecting an 18.69% increase compared to the previous year[43]. - The South China region generated CNY 1,471,344,736.68 in revenue, accounting for 44.16% of total revenue, with a growth of 3.71%[43]. - The Southwest region saw a significant revenue increase of 57.06%, reaching CNY 550,100,309.62[43]. - The life waste disposal segment experienced a substantial growth of 58.43%, with revenue reaching CNY 83,710,354.50[43]. Market Expansion and Strategy - The company is actively exploring market expansion opportunities in urban management services[10]. - The company is positioned as a leading player in the environmental sanitation management industry, with a comprehensive service system covering over 80 cities[28]. - The company expanded its project coverage to over 80 cities across 26 provinces, laying a solid foundation for future performance growth[32]. - The company launched nearly 60 rural sanitation projects in 2021, responding to the national "rural revitalization" strategy[32]. - The company aims to strengthen its market expansion and service capabilities through the establishment of new subsidiaries, contributing to sustained profitability[79]. - The company plans to implement six strategic initiatives, including low-carbon waste management and rural revitalization, to form a leading urban public living environment management service system[82]. Research and Development - Research and development expenses increased by 267.79% to ¥11,522,881.78, primarily due to increased spending on solid waste treatment and smart sanitation projects[55]. - The number of R&D personnel rose to 88, a significant increase of 450.00% compared to the previous year[57]. - R&D investment accounted for 0.35% of operating revenue, up from 0.11% in the previous year[57]. - The company completed three patents for the smart sanitation information system and three patents for solid waste treatment methods[56]. - The company plans to enhance its organic waste processing technology, which is expected to improve efficiency and increase resource recovery rates[57]. Corporate Governance - The company held three shareholder meetings in 2021, all conducted in accordance with legal procedures, ensuring the protection of shareholder rights[96]. - The board of directors consists of seven members, including three independent directors, meeting legal requirements for governance structure[97]. - The supervisory board held ten meetings throughout the year, all conducted according to regulations, ensuring effective oversight of financial matters[98]. - The company has established a robust anti-corruption management system, including measures against commercial bribery and a reporting mechanism[101]. - The independent directors actively participate in decision-making processes, contributing to the governance and protection of minority shareholder interests[99]. Environmental Responsibility - The company has implemented measures to reduce carbon emissions through energy-saving and material-saving initiatives, contributing to ecological construction[158]. - The company promotes a green office environment, with over 79% of employees using online meetings and advocating for paperless operations[159]. - The company has initiated tree planting activities, planning to establish a "Qiaoyin Carbon Neutral Base" funded by its charity foundation starting from 2021[159]. - The company has adopted a waste classification model to enhance environmental responsibility, linking performance to compliance with waste disposal guidelines[160]. - The company has established a comprehensive environmental management system, ensuring compliance with various environmental protection laws and regulations[158]. Financial Management - The net cash flow from financing activities decreased by 44.08% year-on-year, primarily due to the issuance of 420 million yuan in convertible bonds in the previous period[59]. - The total amount of raised funds was approximately 5.99805 billion yuan, with 1.457278 million yuan utilized in the current period[69]. - The company has committed to invest RMB 59.98 million in various projects, with a cumulative investment of RMB 14.57 million, representing 24.27% of the total commitment[73]. - The company has a stable profit distribution policy, emphasizing reasonable returns to investors while ensuring sustainable development[145]. - The internal control system has been continuously improved, focusing on operational quality and compliance with management regulations[150]. Social Responsibility - The company has provided employment opportunities for nearly 200 veterans and 420 disabled individuals in poverty-stricken areas through infrastructure projects, addressing local employment issues[163]. - A total of 350,000 RMB was donated by the company to support poverty alleviation efforts in the Dong Village of Lianzhou City[163]. - The company has invested over 6 billion RMB in rural revitalization projects, primarily distributed across Jiangxi, Guangdong, Hebei, and Hunan provinces[165]. - The company is actively involved in nearly 60 national rural environment improvement projects, contributing to the establishment of model villages for rural governance[165]. - The company has launched the "Precision Cultivation Plan" to enhance rural living conditions and infrastructure, aligning with the five major goals of the rural revitalization strategy[164].