SYEP(SZ:300867)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 reached ¥2,295,681,048.35, representing a 122.08% increase compared to ¥1,033,725,653.71 in 2020[27]. - Net profit attributable to shareholders was ¥471,539,757.10, a 55.27% increase from ¥303,699,283.52 in the previous year[27]. - The basic earnings per share increased by 29.36% to ¥1.7353 from ¥1.3414 in 2020[27]. - The total assets of the company at the end of 2021 were ¥7,809,933,530.15, reflecting a 12.64% growth from ¥6,933,723,754.08 in 2020[27]. - The net assets attributable to shareholders increased by 18.05% to ¥3,219,291,977.56 from ¥2,726,974,291.16 in the previous year[27]. - The company's total electricity revenue for 2021 was approximately CNY 881.84 million, representing a 46.27% increase compared to CNY 602.90 million in 2020[71]. - The revenue from waste incineration (including electricity sales) was ¥1,162,975,635.59, accounting for 50.66% of total revenue, with a year-on-year growth of 38.99%[104]. - The company achieved total revenue of 2.296 billion yuan in 2021, a year-on-year increase of 122.08%[91]. Operational Capacity and Projects - The company has established multiple waste incineration power plants across various provinces in China[16]. - The company operates 13 waste-to-energy plants and 2 organic waste treatment projects, with a focus on provinces such as Fujian, Jiangsu, Anhui, Shandong, and Gansu[50]. - The company added a total waste processing capacity of 4,950 tons/day and an installed capacity of 130MW through the commissioning of six new waste incineration projects in 2021[106]. - The company processed 4.8458 million tons of waste in its incineration plants, a 16.81% increase from the previous year[92]. - The total installed capacity of the company's waste-to-energy plants reached 30.9 MW, an increase from 17.9 MW in the previous year[75]. - The company constructed and operated 6 photovoltaic power stations during the reporting period, expanding its renewable energy business[59]. Research and Development - The company is actively involved in research and development to improve its environmental technologies[16]. - The company is focusing on R&D investments to strengthen its technological capabilities in the waste management sector[62]. - The company's R&D investment amounted to ¥14,095,397.11 in 2021, representing 0.61% of total revenue[130]. - The number of R&D personnel increased by 6.45% from 62 in 2020 to 66 in 2021[129]. - The company has made significant advancements in R&D, including the development of automatic dosing technology for magnetic powder in wastewater treatment, aimed at reducing labor costs and improving efficiency[127]. Risk Management - The company faces several risks including technology risk, intense industry competition, and potential instability in waste supply and calorific value[4]. - The company has a comprehensive risk management strategy to address financial and operational risks[4]. - The company has outlined potential risks and countermeasures in its future development outlook section[4]. - The company emphasizes the importance of adhering to environmental protection standards and policies[4]. - The company has implemented a comprehensive internal control system to manage risks and ensure compliance, contributing to its sustainable growth[102]. Market Trends and Opportunities - The company operates in the waste-to-energy sector, with significant growth potential as the national waste incineration capacity is expected to reach 800,000 tons per day by the end of 2025, up from 580,000 tons per day during the 13th Five-Year Plan[38]. - The company is positioned to benefit from policies promoting waste classification and incineration, which aim to reduce landfill waste and enhance waste management infrastructure[41]. - The company is focusing on expanding its market presence in hazardous waste treatment and kitchen waste classification, driven by increasing regulatory demands and public awareness[43]. - The financial support for green and low-carbon industries is expected to increase, with the central government's budget for related expenditures rising from ¥92.8 billion in 2021 to ¥452.8 billion in 2022[40]. Subsidiaries and Partnerships - The company established several new subsidiaries during the reporting period, enhancing its operational capacity and market presence[124]. - The company has ongoing major contracts and procurement agreements, with significant revenue recognition expected in the upcoming periods[110]. - The company signed exclusive waste treatment agreements with surrounding areas of the Qingyang plant, enhancing its operational efficiency and expanding its project footprint[96]. Environmental Compliance and Sustainability - The company is committed to enhancing its operational efficiency and exploring new technologies in waste management[20]. - The company aims to achieve a safe production and environmental compliance for the year, with a focus on operational excellence and management standards[190]. - The company is committed to a green low-carbon development strategy, focusing on dual business drivers and ecological platforms to enhance risk resistance and create stable shareholder value[182].