TONGWEI CO.,LTD(SH:600438)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was ¥63,491,070,520.12, representing a 43.64% increase compared to ¥44,200,270,334.23 in 2020[16]. - The net profit attributable to shareholders for 2021 was ¥8,207,920,822.18, a significant increase of 127.50% from ¥3,607,923,359.56 in 2020[16]. - The net cash flow from operating activities reached ¥7,618,273,876.72, up 151.85% from ¥3,024,927,931.94 in the previous year[16]. - The total assets at the end of 2021 were ¥88,249,992,122.16, a 37.35% increase from ¥64,251,948,070.91 at the end of 2020[16]. - The company's net assets attributable to shareholders increased by 22.79% to ¥37,502,570,958.36 at the end of 2021, compared to ¥30,541,405,029.73 at the end of 2020[16]. - Basic earnings per share for 2021 were ¥1.8234, reflecting a 112.49% increase from ¥0.8581 in 2020[17]. - The weighted average return on net assets for 2021 was 24.24%, an increase of 8.11 percentage points from 16.13% in 2020[17]. - The company reported a net profit excluding non-recurring gains and losses of ¥8,486,488,644.67, which is a 252.35% increase from ¥2,408,554,229.37 in 2020[16]. Dividend Distribution - The company plans to distribute a cash dividend of 9.12 CNY per 10 shares, totaling approximately 4.11 billion CNY to shareholders[3]. - The company distributed a cash dividend of 2.41 RMB per 10 shares, totaling 1,084,873,112.34 RMB, approved on May 7, 2021, and implemented on May 21, 2021[95]. - For the fiscal year 2021, the company proposed a cash dividend of 9.12 RMB per 10 shares, amounting to 4,105,411,943.81 RMB, to be submitted for shareholder approval[95]. Risk Management - The company has outlined potential risks in its future development strategy, which are detailed in the management discussion section[4]. - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future strategies and operational plans[4]. - There are no non-operating fund occupations by controlling shareholders or related parties reported[4]. - The company has confirmed that there are no violations of decision-making procedures regarding external guarantees[4]. - The company has not faced a situation where more than half of the directors cannot guarantee the authenticity and completeness of the annual report[4]. Market Expansion and Product Development - The company is focused on expanding its market presence and enhancing its product offerings through new technologies and innovations in solar energy solutions[16]. - The company aims to maintain its growth trajectory and improve operational efficiency in the coming years[16]. - The company is engaged in multiple high-purity silicon projects, including a 50,000-ton project in Leshan and a 50,000-ton project in Baoshan[7]. - The company is involved in the production of high-efficiency silicon solar cells, with projects aimed at producing 7.5 GW annually in Meishan and Jintang[7]. - The company completed the acquisition of assets from Tianbang Co., enhancing its market share and solidifying its industry leadership[21]. - The company launched the high-end seedling feed product series "Kaikou Le," which improved the survival rate of seedlings by over 25 percentage points[21]. - The company is actively pursuing new raw material alternatives to reduce reliance on imported corn and soybeans, which currently have a high dependency rate of 83.7%[62]. Research and Development - The company has applied for a total of 840 patents, with 616 patents granted as of the end of the reporting period[28]. - The company’s technology center has been recognized as an "excellent" national enterprise technology center, contributing significantly to its competitive advantage[28]. - The company is focusing on the development of a "fishing-light integration" model, enhancing ecological aquaculture and green energy collaboration[27]. - The company has established a research team led by industry experts, emphasizing technological innovation and smart manufacturing in the photovoltaic sector[28]. - Research and development expenses for 2021 were ¥2,035,847,045.43, significantly higher than ¥1,035,331,434.68 in 2020, reflecting an increase of approximately 96.5%[184]. Environmental Responsibility - The company achieved compliance with environmental standards, with wastewater discharge levels for COD at 9.85 mg/l and ammonia nitrogen at 0.778 mg/l, both within regulatory limits[100]. - The total annual discharge of COD in 2021 was 8.13 tons, significantly lower than the approved annual limit of 43.96 tons[101]. - The total annual discharge of nitrogen oxides (NOx) in 2021 was 1.863 tons, well below the approved limit of 76.04 tons[101]. - The company has established emergency response plans for environmental incidents, with multiple plans registered with local environmental authorities[111]. - The company has received environmental impact assessment approvals for multiple projects, including a 50,000-ton high-purity silicon project in Inner Mongolia[109]. Corporate Governance - The company held one annual general meeting and one extraordinary general meeting during the reporting period, ensuring compliance with relevant regulations and protecting shareholders' rights[69]. - The board of directors convened seven meetings, enhancing decision-making processes and considering the interests of minority investors[69]. - The company received an A-level rating for information disclosure quality from the Shanghai Stock Exchange for the 2020-2021 period, reflecting its commitment to transparency[70]. - The company has established independent financial and operational systems, ensuring no shared bank accounts with the controlling shareholder[70]. - The company has not faced any penalties from securities regulatory authorities in the past three years[83]. Financial Management - The company plans to issue a total of RMB 12 billion in convertible bonds, with a term of 6 years and an annual interest payment[138]. - The funds raised from the convertible bonds will be used for photovoltaic silicon material manufacturing projects and to supplement working capital[138]. - The total amount raised from bond issuance was ¥4 billion, which has been fully utilized for working capital in the high-purity silicon and solar cell sectors[160]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100% in 2021[163]. - The company reported a significant focus on expanding its structured deposit offerings, with multiple products maturing in 2021[136][137]. Shareholder Information - The controlling shareholder, Tongwei Group, holds a 43.85% stake in the company, with a reduction of 24.4 million shares during the reporting period[150]. - The total number of ordinary shareholders increased to 308,719 from 282,214 at the end of the previous month[148]. - The top ten shareholders hold a combined total of 2,300,000,000 shares, representing approximately 51.1% of the total share capital[150]. - The company has no strategic investors or general legal entities that have become top ten shareholders due to new share placements[154]. - The company has no changes in controlling shareholders during the reporting period[155].