\u3000\u3 Jointo Energy Investment Co.Ltd.Hebei(000600) 376 Beijing Capital Development Co.Ltd(600376) )
I. The sales amount increased by 7% year-on-year, and the investment remained stable
The sales volume of 35. The sales collection amount reached 119.4 billion yuan, a year-on-year increase of 21% and 113% of the target, making the sales collection rate within the year reach 104%, an increase of 12.1 percentage points over 2020. In terms of investment, Beijing Capital Development Co.Ltd(600376) investment remained stable and the proportion in Beijing increased.
II. The operating income has increased significantly, and the diversified business has developed beyond the target
In 2021, Beijing Capital Development Co.Ltd(600376) achieved an operating revenue of 67.8 billion yuan, an increase of 53.3% year-on-year, but the gross profit margin decreased by 8.2 percentage points to 19.8% and the net profit margin decreased by 6.4 percentage points to 3.1%. We can see that in addition to the declining gross profit margin, the sharp decline of the company’s equity investment income and the increase of asset impairment loss also eroded the net profit.
III. The scale of interest bearing liabilities decreased by 8%, and the cash short debt ratio reached the standard
At the end of 2021, the scale of interest bearing liabilities of the company was 125.93 billion yuan, down 8.0% from the end of 2020. Therefore, the “three red lines” indicators were improved, in which the cash short debt ratio increased to 1.2 times, meeting the regulatory requirements, which promoted the company from red to orange. In addition, the net debt ratio decreased by 31.2 percentage points to 147.4%, and the asset liability ratio excluding advance receipts decreased by 1.2 percentage points to 73.6%.
Relying on the background of state-owned enterprises and good credit qualification, good financing ability is still one of the competitive advantages of enterprises, and will continue to escort the development of enterprises.
