Financial Performance - The company reported a significant increase in revenue, achieving a total of 10.5 billion RMB for the year 2021, representing a growth of 25% compared to the previous year[15]. - The net profit for 2021 reached 1.8 billion RMB, which is an increase of 30% year-over-year[15]. - The company's operating revenue for 2021 was ¥20,565,780,950.46, representing a 45.77% increase compared to ¥14,108,161,179.83 in 2020[20]. - The net profit attributable to shareholders in 2021 was ¥4,676,429,064.32, a significant increase of 104.33% from ¥2,288,686,615.79 in 2020[20]. - The total profit for 2021 was 5.519 billion yuan, representing a year-on-year growth of 95.70%[100]. - The basic earnings per share for 2021 was ¥2.12, an increase of 87.61% compared to ¥1.13 in 2020[20]. - The net cash flow from operating activities reached ¥4,328,470,772.16, up 38.71% from ¥3,120,561,622.09 in the previous year[20]. - The company reported a significant increase in management expenses, which rose by 90.24% to CNY 1.11 billion, primarily due to stock incentives and workshop repair costs[126]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[15]. - The company aims to achieve a compound annual growth rate of 30.3% in the lithium iron phosphate market from 2020 to 2025, driven by the growth of new energy vehicles[57]. - The company is actively transforming and innovating in the titanium-lithium coupling sector, aligning with the national "dual carbon" strategy to promote high-quality development[71]. - The company is entering the lithium battery cathode material industry, focusing on lithium iron phosphate (LiFePO4), which enhances battery performance and safety[55]. - The company is expanding its production capabilities in various chemical parks, including the Jiaozuo Industrial Cluster and Yunnan Lufeng Industrial Park, focusing on both sulfate and chloride titanium dioxide products[80]. - The company has established a global sales network, exporting products to over 80 countries across various continents[93]. - The company is exploring new fields for expansion, indicating a strategic intent to diversify its operations further[177]. Research and Development - The company has allocated 200 million RMB for research and development in new technologies for sustainable materials[15]. - The company has increased R&D investment and introduced advanced production technologies for lithium battery materials, including lithium iron phosphate and artificial graphite, leveraging its existing raw material supply system[73]. - The company has over 700 patents, including more than 220 invention patents and 460 utility model patents[91]. - R&D investment increased by 87.53% to approximately CNY 1.01 billion in 2021, accounting for 4.91% of operating revenue[128]. - The number of R&D personnel increased by 17.89% to 1,496, with a focus on enhancing the educational background of the team[128]. Environmental and Compliance Initiatives - The company has implemented 40 environmental protection projects with a total investment of 327 million RMB, resulting in significant reductions in emissions of particulate matter, SO2, and NOX by 34.02%, 35.17%, and 1.45% respectively[110]. - The company is committed to achieving low-cost production while maintaining high-quality standards through advanced technology[86]. - The company faces environmental policy risks due to stricter regulations and is committed to enhancing its environmental protection measures and compliance with new standards[163]. - The company has obtained various licenses and permits, including pollution discharge permits valid until 2026, ensuring compliance with environmental regulations[82]. Acquisitions and Investments - Strategic acquisitions are planned, with a focus on companies that enhance the supply chain efficiency, aiming for completion by Q3 2022[15]. - The company has completed a CNY 291.56 million acquisition of Henan Zhongtan New Material Technology Co., Ltd. for carbon product manufacturing[139]. - The company has acquired 100% of Henan Zhongtan New Materials Technology Co., Ltd. to enter the artificial graphite sector and is planning multiple projects with a total production capacity of 200,000 tons for battery-grade lithium iron phosphate and other materials[74]. - Significant equity investments include CNY 300 million in Henan Longbai New Material Technology Co., Ltd. for battery material production[139]. Production Capacity and Efficiency - The company has a titanium dioxide production capacity of 1.01 million tons per year and sponge titanium production capacity of 15,000 tons per year, ranking among the top in the world[60]. - The company’s existing production capacity for titanium dioxide is 1.01 million tons, with a utilization rate of 89.33%[79]. - The company maintains a production capacity utilization rate of 98.98% for sponge titanium, with ongoing upgrades to increase capacity[79]. - The company is developing new technologies for titanium production, including a low-cost preparation method for lithium iron phosphate, which is expected to enhance its market position in battery materials[127]. Governance and Management - The company has established a complete and independent governance structure, complying with relevant laws and regulations, ensuring investor interests are protected[183]. - The company has a fully independent financial accounting department and decision-making process, including independent bank accounts and tax obligations[185]. - The company has continuously improved its governance structure and risk management systems during the reporting period[187]. - The company has actively participated in governance activities to ensure compliance and transparency in operations[187].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥9,837,852,538.57, representing a 55.53% increase compared to ¥6,325,493,091.87 in the same period last year[10]. - The net profit attributable to shareholders of the listed company was ¥2,434,966,981.89, an increase of 88.33% from ¥1,292,900,349.50 in the previous year[10]. - The basic earnings per share increased to ¥1.12, up 75.00% from ¥0.64 in the same period last year[10]. - The total profit reached 2.856 billion yuan, up 82.76% compared to the same period last year[27]. - The company reported a net profit of ¥2,401,527,360.41 after deducting non-recurring gains and losses, which is an increase of 87.30% from ¥1,282,201,883.04 in the same period last year[10]. - The company achieved operating revenue of 9.838 billion yuan, an increase of 55.53% year-on-year[27]. - The company reported a total comprehensive income of CNY 2,431,990,988.09 for the first half of 2021, compared to CNY 1,314,919,121.88 in the previous year, indicating an increase of 84.9%[152]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥38,818,780,969.96, reflecting an 11.64% increase from ¥34,771,428,954.42 at the end of the previous year[10]. - The total liabilities reached CNY 20.29 billion, an increase from CNY 18.93 billion, which is a growth of about 7.1%[143]. - The company's equity attributable to shareholders rose to CNY 16.90 billion, compared to CNY 14.19 billion, reflecting an increase of approximately 19.1%[144]. - Cash and cash equivalents increased significantly to CNY 4.17 billion from CNY 2.85 billion, representing a growth of about 46.7%[145]. - The total assets of the company reached CNY 27,996,497,042.92, up from CNY 24,201,741,904.26, reflecting a growth of 11.6%[148]. Research and Development - The company increased R&D investment to 414 million RMB in the first half of 2021, a 43% year-on-year growth, accounting for 4.2% of operating revenue[33]. - Research and development expenses for the first half of 2021 were CNY 414,216,259.01, up from CNY 289,371,652.93 in the same period of 2020, marking a 43.2% increase[149]. - The company has established 179 research projects, completing 94 of them, focusing on lithium battery anode and cathode materials, new products via chlorination, and comprehensive utilization of scandium and vanadium resources[33]. Market and Industry Position - The company is the largest titanium dioxide producer in Asia, focusing on the production and sales of titanium dioxide, sponge titanium, zirconium products, and sulfuric acid[16]. - The titanium dioxide market has seen a significant increase in demand and prices since 2016, with a notable reduction in inventory levels and an increase in export volumes[20]. - The company operates in two main industrial chains: titanium dioxide production and sponge titanium production, both starting from titanium iron ore extraction[22]. - The company is committed to enhancing its competitive position in the titanium dioxide market through technological advancements and market expansion strategies[20]. - The company is expanding into the new energy battery sector with projects for 200,000 tons of lithium-ion battery materials and 100,000 tons of artificial graphite anode materials[31]. Environmental and Social Responsibility - Longbai Group is focusing on environmental protection and has increased investments in compliance with stricter environmental standards, ensuring pollutant emissions meet new regulations[60]. - The company has actively participated in social responsibility initiatives, including a donation of 5 million yuan for disaster recovery efforts in response to severe flooding, which caused over 1,300 billion yuan in property damage[93]. - Longbai Group's wastewater treatment system has a processing capacity of 48,000 m³/d, achieving pollutant discharge standards[80]. Corporate Governance and Shareholder Engagement - The company has held several shareholder meetings with participation rates of 51.91% to 54.67%, reflecting strong investor engagement in corporate governance[66]. - The company has implemented a restricted stock incentive plan, granting 13.906 million shares to 4,859 employees to align interests among shareholders, the company, and employees[36]. - The company has established a stock incentive plan management method for 2021, which has been approved by the board of directors[73]. Strategic Initiatives and Future Outlook - The company plans to invest over 50 billion yuan in its "14th Five-Year" development plan, focusing on titanium dioxide, titanium metal, and new energy sectors[29]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[107]. - The management remains optimistic about the future, citing strong demand trends and a solid pipeline of projects[104].