Nutrichem(BJ:833819)2022-03-17 16:00Financial Performance - The company reported a total revenue of 833.819 million in 2021, reflecting its performance in the biotechnology sector[2]. - The company's operating revenue for 2021 was RMB 7,353,730,720.48, representing an increase of 18.14% compared to RMB 6,224,805,952.28 in 2020[28]. - The net profit attributable to shareholders for 2021 was RMB 480,981,874.15, a growth of 47.86% from RMB 325,295,258.57 in 2020[28]. - The gross profit margin for 2021 was 20.20%, slightly up from 20.03% in 2020[28]. - The total assets at the end of 2021 reached RMB 11,941,012,733.76, an increase of 11.32% from RMB 10,726,456,544.32 at the beginning of the year[30]. - The total liabilities increased by 16.00% to RMB 7,105,781,561.52 at the end of 2021, compared to RMB 6,125,919,138.63 at the beginning of the year[30]. - The net cash flow from operating activities for 2021 was RMB 504,351,652.33, a decrease of 54.84% from RMB 1,116,734,337.42 in 2020[33]. - The weighted average return on equity based on net profit attributable to shareholders was 10.28% in 2021, up from 7.55% in 2020[28]. - The company reported a basic earnings per share of 0.39 in 2021, an increase of 39.29% from 0.28 in 2020[28]. - The inventory turnover rate improved to 3.95 in 2021, compared to 3.50 in 2020[33]. Market Presence - The company has a significant client base primarily consisting of domestic and international pesticide companies, indicating a strong market presence[11]. - Approximately 55.01% of the company's sales revenue comes from international markets, highlighting its reliance on export sales[11]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth[1]. - The company has formed good cooperative relationships with international agricultural enterprises, ensuring smooth sales channels for its products[52]. - The company’s product line includes over a hundred high-quality products in herbicides, fungicides, and insecticides, with strong market competitiveness[50]. Research and Development - The company has established a mature independent innovation system, covering three major areas: biotechnology research, plant protection research, and technical analysis[51]. - The company owns a total of 285 patents, an increase from 241 in the previous period[105]. - Research and development (R&D) expenses amounted to ¥187,220,610.57, accounting for 2.55% of total revenue, down from 3.08% in the previous period[102][103]. - The total number of R&D personnel decreased from 470 to 451, with the proportion of R&D staff to total employees rising from 9.01% to 9.43%[104]. - The company has partnered with Tianjin University for the development of new technologies, including a new crystallization technique for pyraclostrobin and a new technology for producing 4,000 tons of nitro-sulfur grass ketone annually[108]. Environmental Compliance - The company is subject to strict environmental regulations, which may require additional investments in compliance and impact future earnings[12]. - The company emphasizes environmental protection, strictly adhering to national environmental laws and regulations while increasing investment in environmental protection efforts[117]. - Hazardous waste is disposed of according to regulations, and pollutant emissions meet the requirements of discharge permits and local government controls[117]. - The average concentration of COD in wastewater is 14.45 mg/L, with a total discharge of 5.68 tons per year, compliant with the Class A standard[118]. - The company actively monitors and manages its wastewater treatment processes to meet environmental standards[120]. Risks and Challenges - The company faces risks related to fluctuations in raw material prices, which can significantly affect product costs and profitability[12]. - The effective corporate income tax rate for high-tech enterprises is 15%, which may impact future financial performance if the company fails to meet the criteria for high-tech status[11]. - The company is exposed to macroeconomic fluctuations that could affect demand from its primary customers in the agricultural sector, necessitating a focus on maintaining stable revenue[155]. - The company is at risk of changes in tax policies affecting high-tech enterprises, which could impact its financial performance if it fails to meet the necessary criteria[156]. - The company faces risks related to the control of its major shareholder, which holds 47.07% of the company's shares, potentially impacting operational decisions[154]. Corporate Governance - The company has a concentrated ownership structure, with the controlling shareholder holding 47.07% of the shares, posing governance risks[10]. - The company has not disclosed the names of major non-related party customers and suppliers due to confidentiality agreements[9]. - There have been no significant changes in major risks compared to the previous period, indicating stability in the risk profile[13]. - The company has implemented measures to mitigate safety production risks associated with handling hazardous chemicals, emphasizing a commitment to environmental health and safety[158]. Financial Transactions - The company reported a total of 474 million yuan in external guarantees, with a balance of 407.34 million yuan as of the reporting date[169]. - The company engaged in related party transactions with an estimated amount of 4.8 billion yuan, of which 3.51 billion yuan was realized during the reporting period[171]. - The company had no significant litigation or arbitration matters during the reporting period[165]. - The company provided guarantees totaling 4 billion yuan for related parties, with a balance of 2.76 billion yuan[179]. - The company had a related party debt balance of 144.51 million yuan at the end of the reporting period, after a decrease of 85.95 million yuan[176].