Nantong JiangTian Chemical (300927)

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江天化学:关于举行2022年度业绩说明会的公告
2023-04-17 10:34
证券代码:300927 证券简称:江天化学 公告编号:2023-007 (问题征集专题页面二维码) 出席本次年度业绩说明会的人员有:公司董事长、总经理朱辉先生;副总经 理、财务负责人、董事会秘书史彬先生;独立董事郁东先生;保荐代表人赵宏女 士等。 为充分尊重投资者、提升交流的针对性,现就公司 2022 年度业绩说明会提 前向投资者公开征集问题,广泛听取投资者的意见和建议。投资者可于 2023 年 4 月 26 日(星期三)15:00 前访问全景网(http://ir.p5w.net/zj/),或扫描 下方二维码,进入问题征集专题页面。公司将在 2022 年度业绩说明会上,对投 资者普遍关注的问题进行交流。 欢迎广大投资者积极参与本次网上说明会。 南通江天化学股份有限公司 关于举行2022年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整, 没有虚假记载、误导性陈述或重大遗漏。 南通江天化学股份有限公司(以下简称"公司")已于 2023 年 4 月 18 日披 露《2022 年年度报告》,为使投资者更全面了解公司的经营成果、财务状况及未 来发展规划,公司计划于 2023 年 4 月 ...
江天化学(300927) - 2022 Q3 - 季度财报
2022-10-24 16:00
Financial Performance - The company's revenue for Q3 2022 was CNY 174,176,482.54, representing a 2.90% increase year-over-year, while the year-to-date revenue reached CNY 551,349,266.65, up 6.48% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2022 was CNY 11,196,497.90, a decrease of 18.77% year-over-year, and the year-to-date net profit was CNY 50,806,666.27, down 7.03% compared to the previous year[4] - Basic and diluted earnings per share for Q3 2022 were both CNY 0.0776, reflecting an 18.74% decline year-over-year[4] - Total operating revenue for the period reached ¥551,349,266.65, an increase of 6.5% compared to ¥517,776,754.75 in the previous period[23] - Net profit for the period was ¥50,806,666.27, a decrease of 7.5% from ¥54,648,125.18 in the previous period[24] - Earnings per share (basic and diluted) decreased to ¥0.3519 from ¥0.3786, representing a decline of 7.1%[25] Cash Flow - The net cash flow from operating activities for the year-to-date period increased significantly by 318.18%, amounting to CNY 54,023,752.89[4] - The net cash flow from operating activities for Q3 2022 was ¥54,023,752.89, a significant improvement compared to a net outflow of ¥24,761,311.43 in Q3 2021[28] - Cash generated from operating activities was ¥571,768,499.48, significantly higher than ¥406,564,009.50 in the previous period, indicating a growth of 40.6%[27] - The net cash flow from investing activities for the year-to-date period was CNY 8,458.16 million, a 283.42% increase compared to the previous year[12] - Total cash inflow from investment activities reached ¥488,959,222.56, compared to ¥26,073,666.67 in the same period last year[28] - The net cash flow from investment activities was ¥84,581,616.52, recovering from a net outflow of ¥46,112,968.91 in Q3 2021[28] - Cash outflow from financing activities totaled ¥37,329,527.01, a decrease from ¥53,883,558.93 in Q3 2021[28] - The net increase in cash and cash equivalents was ¥101,941,793.29, contrasting with a decrease of ¥124,933,110.80 in the previous year[28] Assets and Liabilities - Total assets at the end of Q3 2022 were CNY 784,606,363.38, showing a 1.01% increase from the end of the previous year[4] - The total liabilities decreased to ¥160,580,644.94 from ¥180,469,639.11, a reduction of 11.0%[24] - The company’s equity attributable to shareholders increased by 4.65% year-over-year, reaching CNY 624,025,718.44[4] - The total equity attributable to shareholders increased to ¥624,025,718.44 from ¥596,316,652.17, reflecting a growth of 4.7%[24] - Cash and cash equivalents amount to 287,384,480.51 yuan, up from 185,442,687.22 yuan at the beginning of the year[21] Investments and Expenses - The company reported a significant increase in investment income, which rose to CNY 205.10 million, a year-over-year increase of 2,851.08% due to cash management strategies[10] - The company received government subsidies amounting to CNY 278,892.48 in Q3 2022, contributing to its other income[5] - The company’s financial expenses decreased by 82.93% year-over-year, amounting to CNY 57.76 million, due to reduced borrowing costs[10] - Research and development expenses were ¥4,902,280.91, slightly down from ¥5,086,972.67, indicating a decrease of 3.6%[24] - Long-term borrowings decreased to ¥8,500,000.00 from ¥21,500,000.00, a significant reduction of 60.5%[24] - The company reported a tax expense of ¥16,221,222.05, which is an increase from ¥9,691,391.66, reflecting a rise of 67.0%[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,770[14] - The largest shareholder, Nantong Industrial Holdings, holds 37.53% of shares, totaling 54,180,000 shares[14] - The number of restricted shares held by Chen Mei increased to 1,061,000 shares due to executive lock-up[17] - The company has not disclosed any other related party relationships among shareholders[14]
江天化学(300927) - 2022 Q2 - 季度财报
2022-08-22 16:00
Financial Performance - The company's operating revenue for the first half of 2022 was ¥377,172,784.11, representing an increase of 8.22% compared to ¥348,510,895.40 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 3.07% to ¥39,610,168.37 from ¥40,864,166.08 in the previous year[21]. - The basic earnings per share decreased by 3.07% to ¥0.2744, down from ¥0.2831 in the previous year[21]. - The total profit reached 52.03 million yuan, reflecting an 8.20% year-on-year growth[34]. - The total comprehensive income for the first half of 2022 was CNY 39,610,168.37, compared to CNY 40,864,166.08 in the first half of 2021, showing a decrease of approximately 3.1%[152]. - The company reported a net cash flow from operating activities of CNY 20,988,100.35 for the first half of 2022, a significant improvement compared to a net outflow of CNY 31,991,955.48 in the same period of 2021[154]. Assets and Liabilities - The total assets at the end of the reporting period were ¥773,608,153.90, a slight decrease of 0.41% from ¥776,786,291.28 at the end of the previous year[21]. - The total liabilities decreased to CNY 160,674,459.30 from CNY 180,332,835.44, indicating a reduction of approximately 10.1%[149]. - The company's cash and cash equivalents increased to ¥280,328,828.87, representing 36.24% of total assets, up from 23.87% last year, a change of 12.37%[46]. - Accounts receivable decreased slightly to ¥58,594,779.60, accounting for 7.57% of total assets, down from 7.85%[46]. - The total current liabilities decreased slightly to CNY 49,721,659.53 from CNY 50,470,754.49, a reduction of approximately 1.5%[144]. Investment and Cash Flow - The net cash flow from investment activities surged by 2,184.23%, reaching 110.71 million yuan, attributed to increased structured deposits[41]. - The company reported a significant increase in investment, with a total of ¥304,029,627.47 during the reporting period, a 2,655.22% increase compared to ¥11,034,666.12 in the same period last year[51]. - The company’s cash flow from investment activities showed a net inflow of ¥97,492,267.66, compared to a net outflow of ¥5,264,884.09 in the first half of 2021[158]. Research and Development - Research and development investment amounted to 12.47 million yuan, a 7.52% increase from the previous year[41]. - Research and development expenses for the first half of 2022 were CNY 3,151,241.27, slightly down from CNY 3,168,891.95 in the first half of 2021, indicating a decrease of about 0.6%[151]. Corporate Governance and Compliance - The company is committed to enhancing compliance culture and risk prevention capabilities within its operations[34]. - The company has implemented ISO9001 and ISO14001 standards for quality and environmental management, ensuring compliance with safety and environmental regulations[33]. - The company has established a rigorous accounts receivable management system, ensuring stable customer credit quality, but remains cautious of potential risks due to economic changes[71]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company approved a profit distribution plan on May 13, 2022, distributing a cash dividend of 2.88 RMB per 10 shares, totaling 23,097,600 RMB (before tax) to shareholders[121]. - The total number of ordinary shareholders at the end of the reporting period was 10,210[129]. Environmental and Safety Practices - The company has implemented upgrades to pollution control facilities, ensuring stable compliance with emission standards[82]. - The company has established a long-term safety education and training plan to enhance safety and environmental governance levels[84]. - The company has taken measures to reduce carbon emissions, although specific details were not disclosed[83]. Market Position and Strategy - The company focuses on the research, production, and sales of high-end specialty fine chemicals derived from downstream processing of methanol, with a significant market position in the chemical raw materials and products manufacturing industry[29]. - The company has a significant market share and pricing power in the specialty chemicals sector, driven by its advanced technology and product quality[31]. - The company emphasizes sustainable development and aims to enhance market competitiveness through green, low-carbon, and low-energy consumption production practices[30].
江天化学(300927) - 2022 Q1 - 季度财报
2022-04-18 16:00
Financial Performance - The company's revenue for Q1 2022 was ¥192,823,700.32, representing a 12.06% increase compared to ¥172,072,613.51 in the same period last year[4] - Net profit attributable to shareholders was ¥23,761,074.89, up 10.06% from ¥21,589,671.96 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥23,055,900.66, marking a 15.68% increase from ¥19,930,029.10 in the previous year[4] - Total operating revenue for Q1 2022 was CNY 192,823,700.32, an increase of 12.9% compared to CNY 172,072,613.51 in Q1 2021[23] - Net profit for Q1 2022 reached CNY 23,761,074.89, representing a 10.1% increase from CNY 21,589,671.96 in Q1 2021[24] - Earnings per share for Q1 2022 were CNY 0.2963, compared to CNY 0.2692 in Q1 2021, marking an increase of 10.5%[25] Cash Flow - The net cash flow from operating activities improved significantly to ¥1,094,546.39, a 106.40% increase from a negative cash flow of ¥17,092,173.12 in the previous year[4] - Cash flow from operating activities for Q1 2022 was CNY 178,927,228.14, significantly higher than CNY 119,612,477.01 in Q1 2021, indicating a growth of 49.5%[27] - Total cash inflow from operating activities amounted to 180,281,999.77, while cash outflow was 179,187,453.38, resulting in a net increase of 1,094,546.39[28] - The company reported a cash balance of 176,310,881.70 at the end of the period, down from 243,712,937.18 at the beginning of the period[29] - The company received a tax refund of 1,662,198.23 during the reporting period[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥810,950,799.74, an increase of 4.40% from ¥776,786,291.28 at the end of the previous year[4] - Total current assets as of March 31, 2022, amounted to RMB 479,875,000.13, an increase from RMB 441,072,801.99 at the beginning of the year, reflecting a growth of approximately 8.5%[19] - Total liabilities for Q1 2022 were CNY 190,873,072.68, compared to CNY 180,469,639.11 in Q1 2021, reflecting a rise of 5.5%[21] - The company's non-current assets totaled CNY 331,075,799.61, slightly down from CNY 335,713,489.29 in the previous year[21] Inventory and Expenses - The company reported a 34.06% increase in inventory, reaching ¥5,442.49 million, primarily due to rising prices of upstream raw materials[7] - Total operating costs for Q1 2022 were CNY 161,730,954.00, up from CNY 148,119,067.44 in the same period last year, reflecting a rise of 9.5%[23] - Financial expenses decreased by 97.23% to ¥5.03 million, attributed to reduced interest expenses from debt repayment and improved returns on deposits[8] - The company reported a tax expense of CNY 7,795,818.10 for Q1 2022, compared to CNY 3,851,359.67 in Q1 2021, indicating a significant increase in tax obligations[24] Shareholder Information - The company had a total of 9,715 ordinary shareholders at the end of the reporting period[10] - The total number of shares held by the top 10 shareholders includes significant stakes from South Tong Industry Holding Group Co., Ltd. at 29.30%[12] - The company’s total restricted shares at the beginning of the period were 60,150,000, with 30,050,000 shares released during the period[14] Future Plans and Investments - The company plans to continue expanding its market presence and product development initiatives in the upcoming quarters[17] - The company has established a private equity fund, South Tong Changkong Investment Fund, in compliance with relevant regulations[16] Other Financial Activities - Cash inflow from investment activities was 129,830,894.48, while cash outflow totaled 139,606,032.55, leading to a net cash outflow of -9,775,138.07[29] - The company paid 10,000,000.00 in debt repayments during the financing activities[29] - The total cash outflow from financing activities was 457,187.51, compared to 20,135,336.11 in the previous year[29] - The company experienced a foreign exchange impact of 5,973.67 on cash and cash equivalents[29] Audit Status - The report for the first quarter was not audited[30]
江天化学(300927) - 2021 Q4 - 年度财报
2022-04-18 16:00
Financial Performance - The company's operating revenue for 2021 was CNY 709,974,754.86, representing a 62.20% increase compared to CNY 437,705,981.44 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 75,825,895.54, a 37.85% increase from CNY 55,005,268.81 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 73,563,224.75, up 40.23% from CNY 52,457,417.16 in 2020[19] - The basic earnings per share for 2021 was CNY 0.9455, reflecting a 3.39% increase from CNY 0.9145 in 2020[19] - The total assets at the end of 2021 amounted to CNY 776,786,291.28, a 2.06% increase from CNY 761,139,421.79 at the end of 2020[19] - The net assets attributable to shareholders increased by 10.98% to CNY 596,316,652.17 from CNY 537,332,756.63 in 2020[19] - The net cash flow from operating activities for 2021 was CNY 38,491,711.65, a decrease of 26.69% compared to CNY 52,504,544.53 in 2020[19] - The weighted average return on equity for 2021 was 13.41%, down from 19.25% in 2020, indicating a decline of 5.84%[19] Revenue and Sales - The company's total revenue for the four quarters of 2021 was approximately CNY 710 million, with the highest revenue in Q4 at CNY 192.2 million[21] - The net profit attributable to shareholders for the year was CNY 75.8 million, with Q1 showing the highest profit of CNY 21.6 million[21] - The net cash flow from operating activities turned positive in Q4, reaching CNY 63.3 million, after negative cash flows in the first three quarters[21] - The revenue from polyformaldehyde reached 347.54 million yuan, accounting for 48.95% of total revenue, with an impressive year-on-year growth of 85.44%[63] - Domestic sales contributed 88.68% of total revenue, amounting to 629.59 million yuan, while overseas sales accounted for 11.32%, totaling 80.39 million yuan, marking an 82.55% increase year-on-year[64] Production Capacity and Operations - The designed production capacity for formaldehyde is 400,000 tons/year with a utilization rate of 90.44%[51] - The production capacity for polyoxymethylene is 80,000 tons/year with a utilization rate of 73.35%[51] - The production capacity for ultra-pure chloromethane is 20,000 tons/year with a utilization rate of 50.83%[51] - The production capacity for 1,3,5-trisacryloylhexahydro-s-triazine is 1,000 tons/year for both slurry and powder, with a utilization rate of 99.90%[51] - The production capacity for polyformaldehyde increased from 45,000 tons to 80,000 tons, and formaldehyde capacity rose from 280,000 tons to 400,000 tons, contributing to significant performance improvement[60] Research and Development - In 2021, the company applied for 9 patents, including 1 invention patent and 8 utility model patents, and received authorization for 7 utility model patents[42] - The company has committed to ongoing technological research and development to enrich its product system and explore new markets[30] - The company has a dedicated R&D center to encourage innovation and ensure the quality of new product development[173] - The company is actively investing in research and development for new technologies, with a budget allocation of 595 million for innovation initiatives[131] Risk Management and Compliance - The company has outlined potential risks in its future development outlook, which investors should be aware of[6] - The company has established a comprehensive and effective internal control system to ensure compliance and asset security[169] - The company has implemented strict internal approval processes for financial reporting to ensure accuracy and reliability[174] - The company has established clear regulations for the management and use of raised funds to ensure transparency[175] Environmental and Safety Measures - The company aims to improve its safety and environmental protection capabilities in line with national policies, which may lead to accelerated industry consolidation[30] - The company has implemented upgrades to pollution control facilities, ensuring stable compliance with emission standards[187] - All construction projects have undergone environmental impact assessments and received necessary approvals, including pollution discharge permits[187] - The company has developed a scientific emergency response plan for environmental incidents, actively addressing potential environmental and safety risks[191] Governance and Management - The company has a clear organizational structure with defined roles and responsibilities, ensuring effective coordination among departments[126] - The company has a total of 3 independent directors who fulfill their duties independently and fairly, ensuring the protection of minority shareholders' rights[123] - The company held its first extraordinary general meeting of shareholders in 2021 with a participation rate of 71.86%[128] - The management team has undergone changes, with several key personnel resignations in April 2021, impacting strategic direction[132] Future Outlook - Future outlook indicates a projected revenue growth of 10% for the upcoming fiscal year, driven by new product launches and market expansion strategies[132] - The company plans to distribute a cash dividend of RMB 2.88 per 10 shares, totaling RMB 23,097,600 (including tax) based on a total share capital of 80,200,000 shares[166] - The company aims to enhance shareholder value through a proposed dividend increase of 10% in the next fiscal year[132] Employee Management and Development - The total number of employees at the end of the reporting period was 195, with 123 in production, 16 in sales, 25 in technical roles, 6 in finance, and 25 in administration[160] - Employee training programs focus on professional skills development, primarily through internal training supplemented by external training[163] - The company has established a dual promotion channel for technical and management positions to enhance employee motivation and organizational efficiency[114]
江天化学(300927) - 2021 Q3 - 季度财报
2021-10-25 16:00
Financial Performance - The company's operating revenue for Q3 2021 was ¥169,265,859.35, representing a 71.47% increase compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2021 was ¥13,783,959.10, an increase of 10.38% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,848,533.13, up 12.66% from the previous year[3]. - Total operating revenue for the third quarter reached CNY 517,776,754.75, a significant increase of 67.2% compared to CNY 309,753,526.80 in the same period last year[19]. - Net profit for the period was CNY 54,648,125.18, representing a 28.7% increase from CNY 42,477,086.33 in the previous year[21]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥713,756,357.73, a decrease of 6.23% from the end of the previous year[3]. - The company's total assets decreased to CNY 713,756,357.73 from CNY 761,139,421.79, a decline of 6.2%[18]. - Total liabilities decreased to CNY 138,617,475.92 from CNY 223,806,665.16, a reduction of 38.1%[18]. - The company's equity attributable to shareholders increased to CNY 575,138,881.81 from CNY 537,332,756.63, an increase of 7.0%[18]. Cash Flow - The company reported a net cash flow from operating activities of -¥24,761,311.43, a decline of 176.32% compared to the same period last year[3]. - The cash flow from operating activities showed a significant increase, with cash received from sales reaching CNY 406,564,009.50, compared to CNY 283,691,797.98 in the previous year[23]. - Total cash inflow from operating activities was 412,274,534.56, while cash outflow was 437,035,845.99, resulting in a net cash flow deficit[25]. - Cash flow from investing activities showed a net outflow of -46,112,968.91, compared to -9,669,797.90 in the previous year[25]. - Cash flow from financing activities resulted in a net outflow of -53,883,558.93, compared to -44,118,671.92 in the same period last year[26]. Costs and Expenses - The company's gross profit margin was impacted by rising raw material prices, leading to an increase in operating costs by 78.45% year-on-year[9]. - Total operating costs amounted to CNY 455,963,771.34, up 73.6% from CNY 262,710,568.56 year-on-year[19]. - The company experienced a significant increase in sales expenses by 46.15% due to higher performance bonuses and storage costs[9]. - Research and development expenses for the quarter were CNY 5,086,972.67, compared to CNY 4,589,790.22 in the previous year, reflecting a growth of 10.9%[19]. - The company reported a total of 27,859,042.97 in cash paid to employees, an increase from 21,568,757.50 in the previous year[25]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,919[12]. - The largest shareholder, Nantong Industrial Holding Group Co., Ltd., holds 37.53% of shares, totaling 30,100,000 shares[12]. - The total number of restricted shares at the end of the period is 60,150,000, with 1,034,962 shares released from restriction during the period[15]. Future Plans and Developments - The company plans to expand its production capacity for formaldehyde and related products, which is expected to contribute to revenue growth[9]. - The company received a notification in July 2021 regarding relocation and upgrading, aimed at promoting ecological development and supporting the high-end specialty chemical industry[13]. - The company plans to gradually complete the relocation as new factories are built, impacting the implementation of fundraising projects[13]. - The company is assessing the impact of the relocation on its operational strategy and fundraising projects[13]. Inventory and Investments - As of September 30, 2021, total current assets amount to 366,320,170.32 RMB, while total non-current assets are 347,436,187.41 RMB[16]. - The company reported cash and cash equivalents of 159,964,060.82 RMB, a decrease from 284,897,171.62 RMB in the previous period[16]. - Inventory increased to 40,310,474.67 RMB from 31,558,981.69 RMB in the previous period, indicating a growth of approximately 27.5%[16]. - The company has a long-term equity investment of 13,000,000 RMB[16]. - The company reported an investment income of CNY 69,496.86, indicating positive returns from its investments[21]. Miscellaneous - The basic earnings per share for Q3 2021 was ¥0.1719, down 17.20% year-on-year[3]. - Basic and diluted earnings per share were both CNY 0.6814, slightly down from CNY 0.7062 in the same quarter last year[22]. - The ending balance of cash and cash equivalents was 159,964,060.82, down from 284,897,171.62 at the beginning of the period[26]. - The company did not adjust the beginning balance sheet items due to the new leasing standards as the leases involved were short-term[27]. - The third-quarter report was not audited[28].
江天化学(300927) - 2021 Q2 - 季度财报
2021-08-16 16:00
Financial Performance - The company's operating revenue for the first half of 2021 was CNY 348,510,895.40, representing a 65.14% increase compared to CNY 211,040,717.56 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 40,864,166.08, up 36.26% from CNY 29,989,708.84 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 39,114,950.56, reflecting a 40.99% increase from CNY 27,743,489.77 in the same period last year[23]. - The basic earnings per share for the reporting period was CNY 0.5095, a slight increase of 2.19% compared to CNY 0.4986 in the previous year[23]. - The company achieved operating revenue of 348.51 million yuan, a year-on-year increase of 65.14%[43]. - The net profit attributable to shareholders reached 40.86 million yuan, up 36.26% compared to the same period last year[43]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 39.12 million yuan, reflecting a growth of 40.99% year-on-year[43]. - Operating profit for the first half of 2021 was ¥46,208,234.48, up 40.2% from ¥32,941,090.86 in the first half of 2020[144]. - The total profit for the first half of 2021 was ¥48,088,350.27, up 35.8% from ¥35,389,391.66 in the first half of 2020[144]. Cash Flow and Financial Position - The net cash flow from operating activities was negative CNY 31,991,955.48, a decline of 184.39% compared to a positive CNY 37,911,341.08 in the same period last year[23]. - The company's cash flow from investing activities decreased by 53.21% to -5,311,614.09 CNY due to reduced engineering project expenditures[45]. - Cash flow from financing activities decreased by 115.38% to -49,014,866.00 CNY as the company reduced borrowing scale and repaid due short-term and long-term loans[45]. - The net increase in cash and cash equivalents was -86,501,023.01 CNY, a significant decrease compared to the previous period[45]. - Cash received from sales of goods and services in the first half of 2021 was ¥247,326,316.02, an increase from ¥212,008,875.08 in the first half of 2020[148]. - The ending balance of cash and cash equivalents was CNY 198.40 million, down from CNY 68.20 million at the end of the previous year[150]. - The cash and cash equivalents net increase was negative CNY 86.73 million, contrasting with a positive increase of CNY 8.96 million in the previous year[154]. Assets and Liabilities - Total assets decreased by 7.10% to CNY 707,106,298.71 compared to the previous period[24]. - The company's total assets as of June 30, 2021, were CNY 707,106,298.71, down from CNY 761,139,421.79, a decrease of approximately 7.09%[137]. - Total liabilities decreased to CNY 145,751,376.00 from CNY 223,806,665.16, reflecting a reduction of about 34.92%[136]. - The company's short-term borrowings decreased by 75% to 5,000,000.00 CNY, reflecting a strategy to reduce debt[51]. - The total equity attributable to shareholders increased to CNY 561,354,922.71 from CNY 537,332,756.63, marking an increase of about 4.47%[137]. Production and Capacity - The production capacity of polyoxymethylene increased from 45,000 tons to 80,000 tons, and formaldehyde capacity increased from 280,000 tons to 400,000 tons[36]. - The company focuses on high-end specialty fine chemicals derived from methanol, with products used in various industries including resins, adhesives, and pesticides[32]. - The company’s main product, granular polyoxymethylene, is recognized for its wide application and high customer acceptance[36]. - The company’s production model is based on sales-driven production, allowing for dynamic adjustments based on market conditions[35]. Research and Development - The company increased its R&D investment to 11.60 million yuan, a rise of 57.31% due to the commissioning of the 35,000-ton polyformaldehyde project[44]. - The company has obtained 9 invention patents and 37 utility model patents, with 8 invention patents and 5 utility model patents pending acceptance[39]. - The company is focusing on the development of high-end and environmentally friendly new products to enhance its competitive advantage[39]. Environmental and Safety Management - The company emphasizes safety production and environmental protection, enhancing green and energy-saving production levels[36]. - Environmental protection facilities are operating normally, and all pollutants are being discharged within the established standards[83]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[82]. - The company has obtained environmental impact assessments and necessary permits for all construction projects[84]. - The company is enhancing its safety and environmental management practices in response to stricter regulatory requirements in the chemical industry[73]. Risks and Challenges - The company faces risks including environmental and safety issues, intensified industry competition, and macroeconomic fluctuations[6]. - The company is facing risks from macroeconomic fluctuations, including impacts from COVID-19, trade tensions, and geopolitical factors, which may affect profitability[71]. - Raw material costs, particularly methanol and hydrochloric acid, significantly influence the company's production costs, necessitating close monitoring of price trends[72]. - The competitive landscape in the fine chemical industry is intensifying, prompting the company to focus on product innovation and process optimization to strengthen its market position[73]. Corporate Governance and Shareholder Information - The company has established a modern corporate governance system to enhance governance levels and protect the rights of all shareholders, especially minority shareholders[86]. - The total number of shares increased from 60.15 million to 80.20 million after the IPO on January 7, 2021[118]. - The largest shareholder, Nantong Industrial Holdings Group Co., Ltd., holds 37.53% of the shares[120]. - The company has experienced changes in its board of directors, with new appointments aimed at ensuring effective governance and operational management[77]. Miscellaneous - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company has not made any adjustments or restatements to previous years' accounting data[23]. - The company has not made any changes to the fundraising projects during the reporting period[64]. - The company did not engage in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[65][66][67]. - There were no significant lawsuits or arbitration matters during the reporting period[95].
江天化学(300927) - 2021 Q1 - 季度财报
2021-04-26 16:00
Financial Performance - The company's revenue for Q1 2021 was CNY 172,072,613.51, representing a 63.16% increase compared to CNY 105,461,681.82 in the same period last year[9] - Net profit attributable to shareholders was CNY 21,589,671.96, up 69.28% from CNY 12,753,930.76 year-on-year[9] - The net profit after deducting non-recurring gains and losses was CNY 19,930,029.10, reflecting a 67.38% increase from CNY 11,907,313.35 in the previous year[9] - The basic earnings per share increased by 26.98% to CNY 0.2692 from CNY 0.2120 in the same period last year[9] - The total profit for Q1 2021 was CNY 25,441,031.63, which is a 69.0% increase compared to CNY 15,042,037.17 in Q1 2020[48] - Operating profit for Q1 2021 was CNY 23,575,562.80, an increase of 67.9% from CNY 14,047,022.69 in the same quarter last year[48] Assets and Liabilities - The company's total assets decreased by 2.24% to CNY 744,096,907.80 from CNY 761,139,421.79 at the end of the previous year[9] - The total liabilities decreased to CNY 185,366,082.68 from CNY 223,475,420.85 at the end of 2020, indicating a reduction of approximately 16.9%[43] - Cash and cash equivalents decreased from 284,897,171.62 to 243,712,937.18, a decline of approximately 14.5%[37] - Accounts receivable increased from 57,886,583.59 to 65,201,657.48, reflecting an increase of about 12.8%[37] - Inventory rose from 31,558,981.69 to 33,707,699.73, indicating an increase of approximately 6.8%[37] - Short-term borrowings decreased from 20,000,000.00 to 10,000,000.00, a reduction of 50%[38] - Accounts payable decreased from 92,914,427.13 to 72,422,026.46, a decline of approximately 22.1%[38] Cash Flow - The net cash flow from operating activities was negative at CNY -17,092,173.12, a decline of 574.61% compared to CNY 3,601,300.92 in the same period last year[9] - Cash flow from operating activities showed a net outflow of 17.09 million yuan, a decrease of 2,069.35 million yuan compared to the previous year[21] - The company reported a cash flow from operating activities of CNY -17,092,173.12 for Q1 2021, compared to CNY 3,601,300.92 in Q1 2020, indicating a significant decline[55] - The company incurred cash outflows from investing activities amounting to CNY 3,822,952.99, compared to CNY 5,270,848.71 in the previous period[59] - Cash outflows from financing activities totaled CNY 20,135,336.11, which is an increase from CNY 11,531,913.34 in the prior period[60] Operating Costs and Expenses - The company’s operating costs amounted to 134.21 million yuan, with a significant increase attributed to rising raw material prices and increased production capacity[20] - Total operating costs for Q1 2021 were CNY 148,119,067.44, up 62.5% from CNY 91,150,635.59 in Q1 2020[46] - Sales expenses rose to 2.27 million yuan, up 128.89% due to increased performance bonuses for sales personnel and higher storage costs[20] - The company reported a financial expense of 1.82 million yuan, a 146.72% increase primarily due to interest expenses from long-term borrowings[20] - The company incurred financial expenses of CNY 1,834,969.19 in Q1 2021, which is an increase from CNY 753,390.52 in Q1 2020, primarily due to higher interest expenses[50] Investment and Strategic Plans - The company plans to optimize the use of raised funds to enhance operational efficiency and align with long-term strategic goals[25] - Total raised funds amounted to 22,847.78 million, with 3,372.7 million invested in the current quarter[28] - Cumulative investment from raised funds reached 3,372.7 million, with no changes in usage reported[28] - The company reported no significant changes in the feasibility of investment projects during the reporting period[31] Shareholder Information - The company has not engaged in any repurchase transactions among the top 10 shareholders during the reporting period[14] - The company’s top five suppliers accounted for 73.00% of total raw material and energy procurement, a decrease from 79.15% in the previous year[23] - The top five customers contributed 35.13% of total sales, slightly down from 35.47% in the same period last year[23] Research and Development - Research and development expenses for Q1 2021 were CNY 1,455,260.59, compared to CNY 1,138,233.70 in Q1 2020, reflecting a growth of 28.0%[46] - Research and development expenses for Q1 2021 were CNY 1,455,260.59, up from CNY 1,138,233.70 in the previous year, reflecting a focus on innovation[50] Miscellaneous - There were no violations of external guarantees or non-operating fund occupation by major shareholders during the reporting period[32] - The impact of exchange rate changes on cash and cash equivalents was negative CNY 87,042.22, compared to a positive impact of CNY 39,591.13 in the previous period[60] - The company did not adjust the initial balance sheet items for the new leasing standards, as the leasing activities pertained to short-term leases[61]
江天化学(300927) - 2020 Q4 - 年度财报
2021-04-19 16:00
Financial Performance - The company's operating revenue for 2020 was ¥437,705,981.44, a decrease of 12.46% compared to ¥499,997,157.85 in 2019[16]. - The net profit attributable to shareholders for 2020 was ¥55,005,268.81, representing a 2.36% increase from ¥53,736,284.99 in 2019[16]. - The net profit after deducting non-recurring gains and losses was ¥52,457,417.16, up by 2.30% from ¥51,276,744.71 in the previous year[16]. - The basic earnings per share for 2020 was ¥0.9145, an increase of 2.36% compared to ¥0.8934 in 2019[16]. - Total assets at the end of 2020 reached ¥761,139,421.79, a significant increase of 47.62% from ¥515,601,359.39 at the end of 2019[16]. - The net assets attributable to shareholders increased by 101.19% to ¥537,332,756.63 from ¥267,082,649.87 in 2019[16]. - The company's cash flow from operating activities was ¥52,504,544.53, a decrease of 2.21% from ¥53,692,240.31 in the previous year[16]. - The weighted average return on equity for 2020 was 19.25%, down from 21.89% in 2019[16]. - The company reported a total of 2,547,851.65 in non-recurring gains and losses for the year 2020, which includes government subsidies and other income[21]. - The company achieved operating revenue of 437.706 million yuan in 2020, a decrease of 12.46% compared to the previous year[37]. - The net profit attributable to shareholders was 55.0053 million yuan, an increase of 2.36% year-on-year, with basic earnings per share of 0.9145 yuan, also up by 2.36%[37]. Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥2.1 per 10 shares, totaling approximately ¥16,842,000 based on 80,200,000 shares[6]. - The cash dividend for 2020 represents 100% of the total profit distribution amount, with no stock dividends or capital reserve transfers planned[108]. - The company has a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[107]. - In 2020, the cash dividend amount was $16,842,000, representing 30.62% of the net profit attributable to ordinary shareholders[112]. - The company plans to distribute cash dividends of no less than 20% of the distributable profit achieved in the year[116]. - The company commits to conducting cash dividends annually if certain conditions are met, including positive distributable profit and an unqualified audit report[116]. Market and Competitive Position - The company plans to enhance its market competitiveness by expanding production scale and extending its industrial chain in the methanol downstream processing sector[26]. - The company is focused on expanding market share through strategic marketing efforts and optimizing customer structure to reduce reliance on a few large clients[40]. - The company is positioned in the ecological and environmental protection fine materials chemical industry, focusing on new chemical materials and plant protection[47]. - The company is actively pursuing market expansion strategies to solidify its competitive edge in the fine chemical industry[96]. - The company aims to enhance its production capacity of polyoxymethylene to meet diverse customer needs and strengthen its market position as a leading producer[96]. Research and Development - The company holds 9 invention patents and 34 utility model patents, reflecting its commitment to innovation and technology development[33]. - The company is currently engaged in multiple R&D projects aimed at optimizing production processes and developing new products, which are expected to enhance overall competitiveness[68]. - The company has invested in technology upgrades and automation to improve production efficiency and maintain high-quality standards[39]. - The company plans to invest in new product development, particularly in high-end and environmentally friendly products, to adapt to market demands and extend its product range[97]. - The company is enhancing its research and development capabilities by establishing a leading technical research center and acquiring advanced equipment[97]. Environmental and Safety Management - The company emphasizes safety and environmental protection, having received multiple certifications for its operational standards[26]. - The company has implemented a safety management system covering all operational aspects, recognized as a "secondary enterprise for safety production standardization" by local authorities[154]. - The company has achieved stable emissions within regulatory limits for key pollutants, including CODcr at 15.103039 tons and ammonia nitrogen at 1.98 tons[158]. - The company has completed environmental impact assessments for all construction projects and obtained necessary permits, including pollution discharge permits[159]. - The company will increase its investment in environmental protection in response to stricter regulations, ensuring compliance and enhancing safety management capabilities[102]. Operational Efficiency and Cost Management - The company is focusing on improving its overall operational efficiency and effectiveness in response to macroeconomic fluctuations and raw material price volatility[101]. - The total operating costs for 2020 decreased by 12.46% compared to the previous year, primarily due to a reduction in polyoxymethylene trading business[63]. - Material costs accounted for 71.35% of total operating costs in 2020, down from 76.13% in 2019, reflecting a decrease of 17.96%[62]. - The company aims to enhance its resource utilization and reduce production costs by implementing a circular economy approach[34]. - The company has made commitments to fulfill all public promises related to its initial public offering and will accept social supervision[124]. Shareholder and Corporate Governance - The company has established a comprehensive corporate governance structure to protect shareholder and creditor rights[152]. - The independent directors will review and provide independent opinions on the profit distribution plan before it is submitted to the shareholders' meeting for approval[117]. - The company is committed to maintaining transparency and accountability in its governance practices[189]. - Major shareholders have pledged to adhere to their commitments regarding the company's public offering and will take responsibility for any losses incurred by investors due to non-compliance[124]. - The company has established a mechanism for talent acquisition and training to build a competitive workforce[123]. Future Outlook and Growth Strategies - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[196]. - The company plans to increase its workforce by 10% to support growth initiatives[200]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 30%[200]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[200]. - The company anticipates that the profitability and operating performance will significantly improve as projects gradually enter the recovery period[122].