QSY Tech(SZ:300437)2025-02-28 10:14Financial Performance - The company's operating revenue for 2021 was ¥1,637,922,414.58, representing a 31.86% increase compared to ¥1,242,144,852.73 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥86,951,510.37, a significant recovery from a loss of ¥375,926,710.03 in 2020, marking a 123.13% increase[18]. - The net cash flow from operating activities increased by 65.31% to ¥326,537,270.53 in 2021, up from ¥197,529,211.08 in 2020[18]. - The total assets at the end of 2021 were ¥3,499,074,446.14, a decrease of 18.80% from ¥4,309,287,152.90 at the end of 2020[18]. - The company's basic earnings per share for 2021 was ¥0.3875, compared to a loss of ¥1.7219 per share in 2020, reflecting a 122.50% improvement[18]. - The weighted average return on equity for 2021 was 7.26%, a significant increase of 35.22% from -27.96% in 2020[18]. - The company achieved operating revenue of CNY 1.64 billion in 2021, representing a year-on-year increase of 31.86%[75]. - The operating profit reached CNY 114 million, up 129.22% compared to the previous year, while net profit attributable to shareholders was CNY 87 million, an increase of 123.13%[75]. - The company's cash flow from operating activities increased by 65.31% to CNY 327 million[75]. - The company's domestic revenue was CNY 1.17 billion, accounting for 71.58% of total revenue, while international revenue grew by 77.79% to CNY 466 million[82]. Market Position and Industry Outlook - The company is positioned as a leading enterprise in the water treatment agent industry, with a diverse product range and strong customer loyalty[29]. - The demand for water treatment agents is expected to continue growing due to increasing global water scarcity and environmental regulations[30]. - The global water treatment chemicals market is projected to reach $46.56 billion in 2023, with specific segments such as industrial/production water treatment, municipal/reclaimed water treatment, wastewater treatment, and seawater desalination expected to grow to $16.23 billion, $13.96 billion, $10.78 billion, and $5.59 billion respectively[32]. - The domestic water treatment chemicals market is forecasted to reach $5.549 billion in 2022, with municipal water treatment, power, oil and gas, mining, chemicals, food and beverage, and paper industries contributing $1.288 billion, $0.553 billion, $1.1 billion, and $0.497 billion respectively[32]. Operational Developments - The company has successfully completed the expansion project for an annual production capacity of 180,000 tons of water treatment chemicals, increasing its design capacity to 270,000 tons per year, which will enhance product structure and significantly boost output[34]. - The company has built a strong R&D team, including experts from the Chinese Academy of Sciences and a mix of doctoral and master's graduates, to enhance its technological capabilities and innovation[36]. - The company has developed an industrial internet platform for dynamic monitoring and intelligent management of industrial water treatment systems, enhancing efficiency and reducing resource consumption[42]. - The company is focused on water treatment agents production and sales, municipal and industrial water treatment, and comprehensive water environment governance, with a significant capacity in water treatment agents[41]. - The company has achieved normal production for HEDP, ATMP, and HPMA, with additional capacities reaching full production in December 2021[64]. Challenges and Risks - The company faces challenges with rising raw material costs, particularly for phosphorus and other key inputs, impacting profit margins[30]. - The average purchase price of yellow phosphorus increased by 69.30% in 2021 compared to 2020, reaching ¥25,683.50 per ton[63]. - The cost of raw materials for water treatment agents increased by 104.60% year-on-year, amounting to ¥784,262,363.13, which constituted 83.81% of the total operating costs[91]. - The company faces risks from raw material price fluctuations, which could impact profit margins and is implementing strategies to mitigate these risks[140]. Governance and Compliance - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting potential risks and countermeasures in its operations[4]. - The company has established strict approval processes for the use of raised funds to protect investor interests[118]. - The company is committed to improving its governance structure and internal controls to comply with relevant laws and regulations, ensuring effective decision-making processes[151]. - The company has a performance evaluation and incentive mechanism in place for senior management, promoting transparency and accountability[156]. - The independent directors actively monitored the company's operations, financial management, and internal controls, ensuring compliance with relevant laws and regulations[193]. Research and Development - The total R&D investment for 2021 was ¥27,652,086.01, accounting for 1.69% of operating revenue, a decrease from 2.06% in 2020[100]. - The number of R&D personnel increased by 12.50% to 117 in 2021, with a proportion of 12.16% of total employees[100]. - The company is focused on expanding its research and development capabilities, with a dedicated team led by a PhD holder in organic chemistry[174]. - The company is actively pursuing new technologies to improve its product offerings and operational efficiency[176]. Shareholder Engagement - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 259,063,097 shares[4]. - The company ensures equal access to information for all shareholders through strict adherence to disclosure regulations and effective investor relations management[159]. - The company held its first temporary shareholders' meeting in 2021 with a participation rate of 47.63%[167]. - The company’s second temporary shareholders' meeting in 2021 had a participation rate of 46.88%[167]. - The company’s third temporary shareholders' meeting in 2021 had a participation rate of 46.15%[167].