XINJIANG TIANYE(SH:600075)2022-04-21 16:00Financial Performance - The company achieved a net profit attributable to the parent company of CNY 1,638,306,767.84 in 2021, with a retained earnings balance of CNY 3,810,702,807.59, resulting in a total distributable profit of CNY 5,124,512,476.00 at year-end[5]. - The company's operating revenue for 2021 reached CNY 12,014,607,612.69, representing a 28.70% increase compared to CNY 9,335,202,287.67 in 2020[21]. - Net profit attributable to shareholders for 2021 was CNY 1,638,306,767.84, an increase of 84.79% from CNY 886,570,875.91 in 2020[21]. - The net cash flow from operating activities for 2021 was CNY 2,591,938,375.60, up 126.50% from CNY 1,144,338,666.36 in 2020[21]. - The company's total assets as of the end of 2021 were CNY 16,220,278,208.29, compared to CNY 15,440,645,786.99 at the end of 2020[21]. - The net assets attributable to shareholders increased by 30.19% to CNY 9,565,694,658.00 in 2021 from CNY 7,347,416,416.59 in 2020[21]. - Basic earnings per share for 2021 were CNY 1.07, a 62.12% increase from CNY 0.66 in 2020[21]. - The weighted average return on net assets for 2021 was 19.07%, an increase of 6.86 percentage points from 12.21% in 2020[21]. - The total profit for 2021 was CNY 1,898.97 million, reflecting a 77.32% increase from the adjusted previous year's profit of CNY 1,070.90 million[71]. - The company reported a total of 5,200 million in net profit, reflecting a growth of 14.08% year-over-year[192]. Dividend and Profit Distribution - A cash dividend of CNY 1 per 10 shares is proposed, totaling CNY 170,735,426.00 to be distributed to shareholders, with no bonus shares or capital reserve conversion planned[5]. - The company is focused on long-term development while ensuring reasonable returns for investors, indicating a balanced approach to profit distribution and reinvestment[5]. - The company has set a shareholder return plan for the next three years (2021-2023), which was approved in the 2020 annual general meeting[186]. Acquisitions and Restructuring - The company has undergone significant asset restructuring, acquiring 100% equity of Tianeng Chemical through a combination of share issuance and cash payments[14]. - The company completed the acquisition of Tianyu New Material on December 28, 2021, consolidating it as a wholly-owned subsidiary[21]. - The company completed the acquisition of 100% equity in Shihezi Tianyu New Material Chemical Co., Ltd. to enhance its integrated industrial chain[42]. - The company completed the acquisition of Tianwei Cement and Tianyu New Material, making them wholly-owned subsidiaries, thus eliminating potential competition[182]. - The company plans to propose the acquisition of Tianchen Chemical's equity within 12 months, contingent on clear ownership and favorable market conditions[182]. Research and Development - A total of 102 R&D projects were invested in, with 78 completed during the reporting period, demonstrating a strong commitment to innovation[43]. - Research and development expenses rose by 20.36% to CNY 367.47 million, driven by increased R&D activities and rising material costs[73]. - The company has 1,202 R&D personnel, accounting for 17.54% of the total workforce[99]. - In 2021, the company completed 78 out of 102 R&D projects, and submitted 59 patent applications, with 43 patents granted[100]. - The company is investing 50 million CNY in R&D for new technologies aimed at improving production efficiency by 15%[197]. Market and Production Capacity - The company has a total production capacity of 890,000 tons for PVC, including 690,000 tons of general PVC, 100,000 tons of special resin, and 100,000 tons of paste resin[46]. - The company has a production capacity of 1.34 million tons of calcium carbide, which supplies raw materials for its chlor-alkali chemical operations[56]. - The company has achieved a production capacity of 650,000 tons of ion membrane caustic soda annually[111]. - The company’s PVC resin production capacity is 690,000 tons with a utilization rate of 96.99%[128]. - The company’s caustic soda production capacity is 65,000 tons with a utilization rate of 76.29%[128]. Environmental and Safety Compliance - The company achieved a 100% compliance rate in environmental monitoring, with no incidents of environmental pollution reported during the reporting period[41]. - The company has implemented a dual safety prevention mechanism and achieved no major safety incidents throughout the year[41]. - The company has implemented advanced technologies for clean production and intelligent control to improve existing facilities and reduce emissions[116]. - The company is committed to improving safety management and environmental protection, aligning with national standards for safety and pollution control[173]. Strategic Goals and Future Outlook - The company plans to continue expanding its market presence and developing new products and technologies in the upcoming years[21]. - The company aims to enhance its market competitiveness through continuous asset restructuring and industry chain optimization[34]. - The company plans to issue CNY 3 billion in convertible bonds to support its capital platform and industry development[168]. - The company aims to develop specialized products and new materials while optimizing its industrial and product structure to enhance competitiveness[163]. - Future guidance suggests continued growth, with expectations of maintaining a profit margin above 8.92%[192]. Governance and Compliance - The company emphasizes the importance of ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[4]. - The company has improved its internal management and control systems in compliance with relevant laws and regulations, enhancing governance standards[179]. - The company has actively engaged in investor relations management to improve transparency and governance levels[179]. - The company has established a long-term incentive mechanism to enhance employee motivation and promote sustainable development[179].