中泰股份(300435) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 2,406,997,413.64, representing a 21.72% increase compared to CNY 1,977,500,164.78 in 2020[29]. - The net profit attributable to shareholders for 2021 was CNY 245,352,782.01, a 25.11% increase from CNY 196,109,088.73 in 2020[29]. - The net profit after deducting non-recurring gains and losses was CNY 225,577,813.46, up 33.42% from CNY 169,078,815.99 in 2020[29]. - The total assets at the end of 2021 were CNY 3,916,414,035.93, a 13.66% increase from CNY 3,445,701,074.39 at the end of 2020[29]. - The basic earnings per share for 2021 was CNY 0.65, reflecting a 25.00% increase from CNY 0.52 in 2020[29]. - The weighted average return on equity for 2021 was 10.21%, up from 8.92% in 2020[29]. - The net cash flow from operating activities for 2021 was CNY 314,956,857.58, a decrease of 24.91% compared to CNY 419,450,920.99 in 2020[29]. - The company achieved a revenue of CNY 2.407 billion in 2021, representing a year-on-year growth of 21.72%[47]. - The net profit attributable to the parent company was CNY 245 million, an increase of 25.11% compared to the previous year[47]. Order Backlog and Market Position - The company reported a total order backlog of 1.64 billion yuan as of March 31, 2022, primarily concentrated in the natural gas, coal chemical, and petrochemical industries[11]. - The company experienced rapid growth in orders within the energy and chemical industry due to increased downstream demand and carbon neutrality policies, leading to new investment opportunities[39]. - The natural gas sector is expected to grow steadily as coal-fired boilers are replaced with cleaner natural gas alternatives, supported by carbon neutrality initiatives[39]. - The company has established a dual-engine business model of "manufacturing + operation" after entering the natural gas operation field, enhancing its market position[40]. - The company is a leading supplier in the coal chemical sector, with multiple orders for carbon monoxide and hydrogen separation, positioning itself advantageously for future hydrogen market utilization[43]. Research and Development - The company intends to strengthen its research and development efforts to improve product technology and quality in response to increasing competition in the cryogenic technology market[15]. - Research and development expenses increased by 110.34% to ¥40,382,699.46, primarily due to the allocation of equity incentive expenses for R&D personnel[63]. - The number of R&D personnel increased by 6.49% to 82, with R&D personnel accounting for 19.57% of the total workforce[64]. - The R&D investment for 2021 was ¥40,382,699.46, which is 1.68% of total operating revenue, up from 0.97% in 2020[64]. - The company intends to enhance its R&D capabilities, particularly in the design and manufacturing of large, high-pressure plate fin heat exchangers, to achieve new breakthroughs in cryogenic technology[84]. Financial Management and Governance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring compliance with relevant laws and regulations[90]. - The company reported that all shareholders, especially minority shareholders, enjoy equal rights and can participate in major decisions[91]. - The board of directors operates independently and has adhered to legal procedures in electing its members, ensuring responsible governance[92]. - The supervisory board has actively participated in training and has been responsible for overseeing major transactions and financial conditions[92]. - The company has maintained a high level of information disclosure, ensuring that all investors have equal access to company information[92]. Risks and Challenges - The company is facing risks from rising costs of raw materials, including steel and aluminum, due to rapid price increases in bulk commodities[7]. - The company emphasizes the importance of managing procurement costs and adjusting contract prices to mitigate profit pressure from upstream price increases[7]. - The company is focused on managing the risks associated with potential delays or cancellations of orders due to unfavorable industry conditions[11]. - The company will closely monitor market changes and enhance management of its subsidiary, Shandong Zhongyi, to avoid goodwill impairment risks[16]. Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 0.80 yuan per 10 shares (including tax) based on a total of 378,190,300.00 yuan[16]. - The company distributed a cash dividend of 30,255,224.00 CNY, which represents 100% of the total distributable profit of 141,019,328.47 CNY[119]. - The cash dividend per 10 shares was 0.80 CNY, with no stock bonus or capital increase planned[119]. Asset Management and Investments - The company has established a wholly-owned subsidiary, Zhongtai Deep Cold Investment Operation (Shandong) Co., Ltd., which has been successfully integrated[133]. - The company has no assets under restriction as of the reporting period end[72]. - The company reported a total of CNY 6,197,076.16 in investment income, accounting for 1.99% of total profit, primarily from the disposal of a U.S. subsidiary[67]. - The company has not disposed of any significant assets or equity during the reporting period, indicating stability in its asset management[80][81]. Environmental and Social Responsibility - The company is committed to contributing to clean energy and energy conservation in response to carbon neutrality policies, aligning its strategic planning accordingly[84]. - There were no major environmental issues or administrative penalties related to environmental problems during the reporting period[138]. - The company has not disclosed any measures taken to reduce carbon emissions, as it is not applicable[138]. Internal Controls and Audit - The company's internal control system is aligned with the "Basic Norms for Enterprise Internal Control" and is under continuous evaluation and improvement[128]. - The company reported no significant deficiencies in financial reporting internal controls as of December 31, 2021, indicating effective internal control systems in all material aspects[131]. - The audit opinion for the financial statements was a standard unqualified opinion, issued on April 15, 2022[191]. - The audit aims to provide reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error[200].