新乡化纤(000949) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 8,740,494,707.20, representing a 95.25% increase compared to CNY 4,476,509,577.05 in 2020[19] - The net profit attributable to shareholders for 2021 reached CNY 1,365,126,393.20, a significant increase of 1,533.21% from CNY 83,585,352.93 in the previous year[19] - The net cash flow from operating activities was CNY 1,994,649,639.76, up 1,857.36% from CNY 101,905,004.74 in 2020[19] - The basic earnings per share for 2021 was CNY 1.0022, reflecting a 1,407.07% increase compared to CNY 0.0665 in 2020[19] - The total assets at the end of 2021 amounted to CNY 11,245,884,841.37, an increase of 28.05% from CNY 8,782,747,793.66 at the end of 2020[19] - The weighted average return on net assets for 2021 was 27.13%, a significant increase from 2.19% in 2020[19] - The net profit after deducting non-recurring gains and losses for 2021 was CNY 1,413,238,826.21, a 2,366.64% increase from CNY 57,294,110.69 in 2020[19] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, based on a total of 1,466,727,778 shares[4] - The cash dividend per 10 shares is set at 1.00 RMB (before tax), based on a total share capital of 1,466,727,778 shares[141] - The company has a cash dividend policy that ensures at least 10% of the annual distributable profit is distributed in cash, with a total cash dividend of 146,672,777.80 RMB for the reporting period[141] Production and Sales - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately ¥1.95 billion, ¥2.17 billion, ¥2.36 billion, and ¥2.26 billion respectively, showing a steady growth trend throughout the year[23] - In 2021, the company produced 64,374 tons of biomass cellulose filament and 106,276 tons of spandex fiber, achieving a total revenue of 874,049.47 million yuan and a net profit of 136,512.64 million yuan[45] - The production volume for spandex fiber was 106,276 tons, while sales volume reached 96,760 tons, indicating a significant increase in demand[54] - The revenue from spandex fiber was ¥6,425,598,189.77, accounting for 73.52% of total revenue, with a year-on-year growth of 129.18%[51] - Domestic sales contributed ¥6,898,246,300.93, which is 78.92% of total revenue, showing a 99.41% increase in operating costs[51] Market and Industry Trends - The company operates in the chemical fiber manufacturing industry, focusing on spandex fiber and biomass cellulose filament, with a market concentration among major players like Jilin Chemical Fiber and Yibin Silky[30] - The biomass cellulose filament industry has a total production capacity of approximately 210,000 tons per year, with stable domestic and international demand growth[30] - The spandex fiber industry in China is experiencing a growth trend, with increasing consumption driven by the country's economic development and consumer upgrades[31] Risk Management - The company has identified risks related to production operations, including pandemic impacts, market competition, and raw material price fluctuations[4] - The company has implemented flexible marketing strategies to adapt to market changes during the COVID-19 pandemic, ensuring stable production and sales operations[31] Research and Development - The company holds 27 utility model patents and 15 invention patents related to its core products, enhancing its R&D capabilities[36] - The company is focusing on the development of functional spandex products, including antibacterial and easy-dyeing fibers, to meet market demands[69] - The company is developing new environmentally friendly materials to reduce pollution and align with national policies[64] - Research and development investment amounted to CNY 128.18 million, a 32.61% increase from CNY 96.65 million in the previous year[66] Environmental Compliance - The company has maintained compliance with environmental standards, with all major pollutants meeting discharge requirements[152] - The company has established comprehensive wastewater treatment facilities and online water quality monitoring systems[153] - The company achieved ultra-low emissions for flue gas from power boilers, meeting the "Henan Province Air Pollutant Emission Standards" (DB41/1424-2017) for sulfur dioxide, nitrogen oxides, and particulate matter[160] Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with national laws and regulations[106] - The company maintains a fully independent operational system, with clear separation from the controlling shareholder in terms of business, personnel, assets, organization, and finance[110] - The company has established a transparent information disclosure system, ensuring all shareholders have equal access to information[107] Financial Management - The company has a dedicated financial department with an independent accounting system and tax compliance[110] - The company has established a comprehensive compensation system and incentive measures for its directors and senior management[122] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 33.408 million[124] Future Plans - The company plans to produce 65,000 tons of bio-based cellulose filament and 130,000 tons of spandex fiber in 2022, with a sales revenue target of approximately RMB 900,000 million[95] - The company aims to enhance its production capabilities through automation and intelligent upgrades of existing facilities[93] - The company intends to expand its international market share for bio-based cellulose filament and spandex fiber, leveraging the Belt and Road Initiative[93]