China Securities Finance News Guozhong Water (600187) disclosed its 2021 annual report on April 30. The public achieved a total operating income of 384 million yuan, an increase of 1.42% year-on-year; the net profit attributable to shareholders was RMB 90.553 million, and the pro

CSI Finance News Guozhong Water (600187) disclosed its 2021 annual report on April 30. , the public achieved total operating income of 384 million yuan, a year-on-year increase of 1.42%; net profit attributable to shareholders was RMB 90.553 million, a profit of RMB 30.5446 million in the same period last year; net profit excluding non-net profit was RMB 116 million, a loss of RMB 26.8221 million in the same period last year; net cash flow generated by operating activities was RMB 261 million, a year-on-year increase of -217 million; basic earnings per share was RMB -0.0561, and weighted average return on equity was RMB -2.69%.

data statistics show that Guozhong Water has grown its total operating revenue compound in the past three years by -6.52%, ranking 46th among the 49 companies that have disclosed 2021 data in the water and water governance industry. In the past three years, the compound annual growth rate of net profit has been -305.74%, ranking 48/49.

The company's main business is sewage treatment, tap water supply and environmental engineering technical services. It is a water environmental protection enterprise with national investment and operation capabilities.

In 2021, the company's gross profit margin was 15.30%, a year-on-year decrease of 18.28 percentage points; the net profit margin was -24.33%, a decrease of 31.53 percentage points from the same period last year. It is worth noting that in recent years, the company's gross profit margin and net profit margin have long been lower than the industry average.

data shows that the company's weighted average return on equity in 2021 was -2.69%, down 3.58 percentage points from the same period last year, which is lower than the industry average for a long time; the company's investment capital return rate in 2021 was -2.99%, down 3.79 percentage points from the same period last year.

As of the end of 2021, the company's net cash flow for operating activities was 261 million yuan, an increase of 479 million yuan year-on-year, mainly due to the company's recovery of 200 million yuan in bid deposit, and the company paid 200 million yuan in bid deposit in the last period, and the total tax payment for this period decreased by 33.41 million yuan compared with the previous period; the net cash flow for financing activities was -16.8106 million yuan, a decrease of 34.3053 million yuan year-on-year, mainly due to the loan of 35 million yuan in the last period, Bichen Tianjin Company of this period, which decreased by 4.94 million yuan compared with the previous period, and its subsidiary, is the decrease of 4.94 million yuan in loans of 35 million yuan in Tianjin, which is the sub-president. Sima Anshan sewage loan was 10 million yuan in the last period, the grandson company Bichen Tianjin repayed 7 million yuan in the current period, the subsidiary Ma'anshan sewage repayed 16 million yuan in the current period, the subsidiary Qinhuangdao sewage repayed 14 million yuan in the current period, the subsidiary Qinhuangdao sewage repayed 1 million yuan in the current period, the subsidiary Qinhuangdao sewage repayed 14 million yuan in the current period, compared with the previous period, and the net cash flow of investment activities was -406 million yuan, compared with the same period last year of 3.6926 million yuan, mainly due to the decrease in the current period of financial management redemption compared with the previous period and the decrease in the current period of Sailing Fund's capital reduction and recovery of funds compared with the previous period. In terms of operating capacity of

, in 2021, the company's total asset turnover rate was 0.08 times, compared with 0.08 times in the same year (the industry average in 2020 was 0.30 times, and the company ranked 48/49 in the same industry); the fixed asset turnover rate was 2.19 times, compared with 1.76 times in the same year (the industry average in 2020 was 5.30 times, and the company ranked 36/49 in the same industry); the company's accounts receivable turnover rate and inventory turnover rate were 1.52 times and 2.33 times respectively.

For the whole year of 2021, the company's period expenses were 116 million yuan, an increase of 7.1906 million yuan from the previous year; the period expense ratio was 30.11%, an increase of 1.47 percentage points from the previous year.

In terms of major changes in assets, at the end of 2021, the company's under construction projects decreased by 83.51% from the beginning of the period, accounting for 6.82 percentage points of the company's total assets, mainly due to the transfer of Hanzhong Tap Water and Hanzhong Industrial into holding assets for sale in this reporting period; cash and cash funds decreased by 31.51% from the beginning of the period, accounting for 4.17 percentage points of the company's total assets, mainly due to the increase in the company's purchase of wealth management in this reporting period and the transfer of Hanzhong Tap Water and Hanzhong Industrial into holding assets for sale in this reporting period; fixed assets decreased by 33.19% from the beginning of the period, accounting for 1.58 percentage points of the company's total assets, mainly due to the transfer of Hanzhong Tap Water and Hanzhong Industrial into holding assets for sale in this reporting period; inventory decreased by 33.47% from the beginning of the period, accounting for 1.26 percentage points of the company's total assets, mainly due to the corresponding costs of sales carry-over by subsidiary Zhongke Guoyi and Guozhong Dahua in this reporting period.

In terms of debt repayment ability, the company's debt-to-asset ratio at the end of 2021 was 31.19%, an increase of 4.55 percentage points from the same period last year, and overall lower than the industry average in recent years; the interest-bearing debt-to-asset ratio was 4.36%, a decrease of 0.21 percentage points from the same period last year.

annual report shows that among the top ten circulating shareholders of the company at the end of 2021, the new shareholder was Le Xiaomei, replacing the previous Societe Generale. In terms of specific shareholding ratios, Wu Chaoxing's shareholding has increased, while Ni Binjiang and Chen Hui's shareholding has decreased.