BBJX(BJ:430489)2022-04-19 16:00Company Milestones - The company successfully listed on the Beijing Stock Exchange on November 15, 2021, marking a significant milestone[6]. - The company completed the demolition of the old factory site and passed the acceptance inspection for the relocation project on December 16, 2021[7]. - The company established Anhui Jiaxian International Trade Co., Ltd. with a registered capital of 20 million RMB to enhance import and export trade scale and competitiveness[8]. - The company signed a strategic cooperation agreement with China Everbright Bank to meet its diverse financial needs[9]. - The company was recognized as an advanced collective in industrial development by Bengbu City for the year 2021[7]. Production and Capacity - The production processes for the two main products, Diphenylmethane (DBM) and Stearoylbenzoylmethane (SBM), have matured, leading to increased output and yield to meet strong market demand[6]. - The company is focused on expanding its production capacity through the relocation project, which is expected to enhance its future profitability[16]. - The company has become one of the major suppliers of β-diketone compound industrial application environmental heat stabilizers, with significant production and sales volume[17]. - The company successfully launched a new production facility, which contributed to increased capacity and met strong market demand[52]. - The company completed major equipment procurement for a production capacity of 4,000t DBM and 1,000t SBM, with the remaining 3,000t DBM capacity yet to reach the intended usable state by the end of 2021[88]. Financial Performance - The company's operating revenue for 2021 reached ¥479,475,695.03, representing a 232.36% increase compared to ¥144,263,723.09 in 2020[31]. - The net profit attributable to shareholders was ¥62,218,046.24, a 126.28% increase from ¥27,496,344.22 in the previous year[31]. - The gross profit margin decreased to 22.96% in 2021 from 27.98% in 2020[31]. - Total assets increased by 6.43% to ¥830,385,178.37 at the end of 2021, compared to ¥780,213,940.64 at the beginning of the year[33]. - The company's debt-to-asset ratio (consolidated) improved to 39.61% from 42.08% in the previous year[33]. Research and Development - The company obtained 3 invention patents and 21 utility model patents during the reporting period, bringing the total to 92 patents[9]. - The company has increased its R&D investment in product development, process improvement, and mother liquor recovery, achieving multiple R&D results[17]. - The company plans to focus on research and development in new product areas, although there are challenges related to technology and market demand changes[17]. - Research and development expenses surged by 153.86% to ¥18,737,193.77, indicating a significant increase in R&D investment[70]. - The company developed five technical improvement projects in 2021 aimed at enhancing economic efficiency and reducing costs[103]. Market and Sales - Domestic sales accounted for 83.42% of total revenue, while export sales made up 16.58%, indicating a shift towards domestic market focus[80]. - The revenue from β-diketone products was CNY 213,154,963.36, with a gross margin of 37.70%, showing a 74.10% increase year-over-year[76]. - The revenue from the subsidiary Shafeng New Materials accounted for 55.13% of total revenue, up from 14.95% in the previous year, reflecting its full-year consolidation impact[80]. - The company aims to increase its import and export trade scale, particularly in stearate and other bulk raw materials, to steadily expand revenue capacity[115]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 300 million CNY allocated for this purpose[135]. Risk Management - The company’s main raw materials accounted for over 50% of production costs, indicating a significant risk related to raw material price fluctuations[16]. - The company has faced risks due to the COVID-19 pandemic, which may negatively impact downstream customers and overall financial performance if not effectively controlled[17]. - The company is facing risks related to the loss of core technical personnel and the potential leakage of core technologies, which are critical for maintaining competitive advantage[117]. - Environmental protection regulations are becoming stricter, and the company must ensure compliance to avoid potential operational disruptions[121]. - The company is enhancing its cooperation with raw material suppliers to stabilize supply and mitigate price fluctuation risks[118]. Corporate Governance - The company’s actual controller is the Bengbu State-owned Assets Supervision and Administration Commission[25]. - The board of directors consists of 9 members, while the supervisory board has 3 members[164]. - The total remuneration for the chairman of the board is RMB 968,200, while the total remuneration for the general manager is RMB 550,900[164]. - The company has made commitments to avoid related party transactions and ensure fair dealings to protect shareholder interests[137]. - The company has not faced any significant litigation or arbitration matters during the reporting period[126]. Community and Environmental Responsibility - The company has established the "Jiaxian Love Fund" to support local education, donating CNY 100,000 to students in the community[110]. - The company is committed to improving safety production and environmental protection, with plans to complete safety and environmental acceptance for its projects in 2022[115]. - The company is focused on the development of PVC processing series of environmentally friendly additives, leveraging its new park advantages for horizontal and vertical industry chain expansion[114]. - The demand for environmentally friendly PVC heat stabilizers is expected to grow significantly, driven by the phasing out of lead and cadmium stabilizers and the rise of high-efficiency calcium-zinc composite stabilizers[113]. - The company aims to improve product quality, diversify product offerings, and increase market share in response to growing demand for eco-friendly stabilizers[190].