XINHUA CHEMICAL(603867)2022-04-21 16:00Financial Performance - The company's operating revenue for 2021 was RMB 2,554,823,933.93, representing a 10.07% increase compared to RMB 2,321,141,381.90 in 2020[24]. - The net profit attributable to shareholders of the listed company decreased by 4.25% to RMB 196,817,553.70 from RMB 205,547,882.93 in the previous year[24]. - The total assets of the company increased by 10.82% to RMB 2,813,210,389.49 at the end of 2021, up from RMB 2,538,560,985.17 at the end of 2020[24]. - The net cash flow from operating activities decreased by 42.24% to RMB 55,048,546.59 in 2021, compared to RMB 95,306,728.48 in 2020[24]. - The company's net assets attributable to shareholders increased by 10.78% to RMB 1,655,415,825.65 at the end of 2021, compared to RMB 1,494,272,847.43 at the end of 2020[24]. - Basic earnings per share decreased by 4.76% to CNY 1.40 in 2021 compared to CNY 1.47 in 2020[25]. - The weighted average return on equity fell to 12.63% in 2021, down from 14.52% in 2020, a decrease of 1.89 percentage points[25]. - The net profit after deducting non-recurring gains and losses was CNY 180.62 million, showing a slight increase of 0.26% year-on-year[44]. Revenue and Sales - Total operating revenue for Q1 2021 was CNY 673.73 million, while Q4 2021 saw an increase to CNY 677.10 million[28]. - Net profit attributable to shareholders for Q4 2021 was CNY 86.93 million, showing a significant increase compared to CNY 12.67 million in Q3 2021[28]. - The revenue from fatty amines reached approximately ¥1.34 billion, with a gross profit margin of 17.41%, reflecting an increase of 2.05 percentage points year-on-year[50]. - Domestic sales accounted for approximately ¥1.78 billion, with a gross profit margin of 19.09%, reflecting a year-on-year increase[50]. - The production volume of fatty amines was 107,439 tons, with a sales volume of 106,781 tons, indicating a year-on-year increase of 3.20% in sales[52]. Investments and Projects - The company initiated the construction of a new 2,000 tons/year halogen-free organic flame retardant project, which has begun stable production[33]. - The synthetic ammonia project with a capacity of 40,000 tons/year has completed equipment installation and is in the trial production preparation phase[33]. - The company is actively investing in projects such as the construction of a synthetic fragrance production base with a capacity of 74,650 tons/year and a new coal gasification technology project[62]. - The company’s investment in hazardous waste treatment has led to the establishment of a project with a capacity of 58,100 tons/year for waste acid and 11,600 tons/year for waste alkali[36]. Operational Challenges - The company faced challenges in 2021 due to rising raw material prices and energy control policies, impacting operational rates and profitability[34]. - Operating costs rose by 14.24% year-on-year, influenced by increased sales volumes and fluctuations in raw material prices, as well as energy consumption control policies[48]. - The company experienced a decrease in foreign sales revenue by 16.21%, with a gross profit margin of 15.70%[50]. Research and Development - The company invested 80.99 million yuan in R&D during the reporting period, completing over 100 projects related to new product development and process improvements[78]. - The company applied for 14 invention patents and 1 utility model patent, receiving 5 invention patents and 14 utility model patents during the reporting period[79]. - The company is focusing on the development of new chemical materials and technologies to enhance its competitive edge in the market[66]. Corporate Governance - The company held three shareholder meetings during the reporting period, with all resolutions passed and no rejected proposals[106]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 8.0825 million yuan[114]. - The company has maintained a stable governance structure with no significant changes in the management team during the reporting period[116]. - The company’s board meetings were conducted regularly, reflecting a commitment to corporate governance and transparency[117]. Environmental Responsibility - The company is classified as a key pollutant discharge unit and has reported its wastewater discharge standards, including a CODCr concentration of 151.59 mg/L, which is within the regulatory limits[140]. - The company has implemented pollution control facilities in accordance with environmental impact assessments, including wastewater and air pollution treatment systems[145]. - The company has achieved compliance with air emission standards through various treatment processes, including SNCR denitrification and bag dust collection for boiler emissions[146]. - The company actively engages in environmental pollution liability insurance to enhance its environmental risk management capabilities[163]. Shareholder Commitments - Shareholders holding over 5% of shares have committed to not transferring or managing their shares for 36 months post-IPO, ensuring stability[168]. - Major shareholders have issued commitments to avoid any business competition with the company, safeguarding shareholder interests[170]. - The company has established measures to minimize related party transactions, ensuring fair treatment of all shareholders[172].