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巨涛海洋石油服务(03303) - 2021 - 年度财报
03303JUTAL OIL SER(03303)2022-04-28 10:52

Financial Performance - The company's turnover for 2021 was RMB 3,981,612,000, a significant increase compared to RMB 3,647,183,000 in 2020, representing a growth of approximately 9.1%[8] - Gross profit for 2021 was RMB 447,749,000, while net profit was RMB 11,024,000, indicating a net profit margin of approximately 0.28%[8] - Basic and diluted earnings per share for 2021 were RMB 0.0066 and RMB 0.0065, respectively[9] - In 2021, the company's net profit attributable to owners was approximately RMB 11,024,000, a decrease of 92.49% compared to RMB 146,712,000 in 2020[31] - The company's gross profit for 2021 was approximately RMB 283,616,000, a decrease of 36.66% or RMB 164,133,000 from 2020, resulting in a gross margin drop from 12.28% to 7.12%[28] - The company recorded revenue of approximately RMB 3,981,612,000 in 2021, an increase of 9.17% or RMB 334,429,000 compared to 2020[22] - Revenue from the oil and gas equipment engineering and integrated services increased by 2.72% or RMB 77,378,000, while revenue from the new energy and refining equipment engineering and integrated services surged by 33.34% or RMB 259,765,000, mainly due to contributions from offshore wind power equipment projects[22] Dividends and Share Capital - The company did not recommend a final dividend for the year ended December 31, 2021[9] - The company has no predetermined dividend payout ratio, and the declaration of dividends is at the discretion of the board[70] - The board of directors has approved a dividend payout of 0.50pershare,representinga250.50 per share, representing a 25% increase from the last dividend[48] - The company issued 47,290,000 ordinary shares in 2021, raising a total of HKD 30,819,000[72] - The company's total share capital as of December 31, 2021, consisted of 1,681,306,389 ordinary shares, an increase from 1,634,016,389 shares in 2020[73] Operational Achievements - The completion of the GCGV natural gas chemical plant core module construction project in March 2021 marked a significant achievement, with a total of 2,230 million safe working hours recorded[11] - The Arctic LNG 2 liquefied natural gas production line core module construction project delivered its first three modules by the end of 2021, contributing to a total of over 20 million safe working hours[12] - The company has received multiple awards for project excellence, including "Best Site" and "Best Team" for the GCGV project[11] Management and Strategy - The company is actively optimizing its management structure and enhancing management controls to improve project delivery efficiency[11] - The company is actively seeking new business opportunities through acquisitions and collaborations to promote business transformation[18] - The company plans to enhance its construction efficiency and reduce costs by investing in facility upgrades and improving manufacturing capabilities[17] - The company aims to improve market organization and marketing capabilities to secure major bidding opportunities and increase market orders[16] Employee and Safety Initiatives - The company is focusing on enhancing employee skills and safety through various training and engagement activities[16] - The company has implemented a health, safety, and environmental management system certified by OHSAS18001:2007, focusing on creating a safe production environment[63] - The company conducts annual health checks for employees to ensure they meet health standards[64] Financial Position and Liabilities - As of December 31, 2021, the group's cash and cash equivalents amounted to approximately RMB 666,970,000, down from RMB 1,191,173,000 in 2020[31] - The capital debt ratio increased to 29.58% in 2021 from 25.55% in 2020, primarily due to a reduction in total equity after dividend payments totaling RMB 512,713,000[38] - The group had approximately RMB 397,830,000 in available bank credit as of December 31, 2021, compared to RMB 332,940,000 in 2020[31] - The group reported a provision for default compensation of approximately RMB 65 million due to contract delivery delays as of December 31, 2021[179] - The expected credit loss for trade receivables is estimated using a matrix that involves significant management judgment based on historical credit loss experience[191] Corporate Governance - The company has adopted the Corporate Governance Code to maintain high standards of corporate governance, enhancing transparency and protecting shareholder rights[132] - The board held a total of 12 meetings in 2021, with attendance rates for individual directors ranging from 11 to 12 out of 12 meetings[141] - The company has confirmed that all independent non-executive directors have submitted annual confirmations regarding their independence as per listing rules[140] - The company is committed to reviewing and monitoring compliance with legal and regulatory requirements as part of its corporate governance responsibilities[140] Audit and Compliance - The independent auditor expressed a qualified opinion regarding the adequacy of audit evidence for the provision recognized in the financial statements[155] - The audit committee held two meetings during the year to review and discuss the company's financial information, including annual and semi-annual performance[163] - The audit committee recommended the reappointment of the independent auditor for the 2022 financial year[165] - The auditor's report aims to provide transparency while balancing legal and public interest considerations[200] Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between 1.6 billion and 1.7billion,indicatingagrowthrateof71.7 billion, indicating a growth rate of 7% to 13%[48] - New product launches are anticipated to contribute an additional 200 million in revenue over the next fiscal year[48] - Market expansion plans include entering two new international markets by the end of the fiscal year, projected to increase market share by 5%[48]