ACHT(SH:600207)2022-03-16 16:00Financial Performance - In 2021, the company's operating revenue reached approximately CNY 3.34 billion, representing a 45.74% increase compared to CNY 2.29 billion in 2020[23] - The net profit attributable to shareholders was approximately CNY 209.82 million, an increase of 88.87% from CNY 111.09 million in 2020[23] - The basic earnings per share rose to CNY 0.2431, reflecting an 88.89% increase compared to CNY 0.1287 in 2020[24] - The total assets of the company increased by 63.96% to approximately CNY 4.62 billion from CNY 2.82 billion in 2020[23] - The total equity attributable to shareholders was approximately CNY 1.88 billion, a slight decrease of 0.13% from CNY 1.89 billion in 2020[23] - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately CNY 172.44 million, up 61.95% from CNY 106.48 million in 2020[23] - The company achieved operating revenue of RMB 3.339 billion in 2021, representing a year-on-year growth of 45.74%[33] - The net profit attributable to shareholders was RMB 210 million, an increase of 88.87% compared to the previous year[33] - The company achieved actual sales revenue of 3.33 billion yuan in 2021, exceeding the annual target of 2.7 billion yuan by 23.33%[97] - The net profit for 2021 was 210 million yuan, indicating a strong economic performance[97] - For 2022, the company plans to achieve sales revenue of 4 billion yuan, reflecting a 20% increase from 2021[97] Cash Flow and Investments - The net cash flow from operating activities was negative at approximately CNY -243.30 million, a significant decrease from CNY 29.54 million in 2020[23] - The company’s cash flow from financing activities increased significantly by 585.86% to 896 million RMB, reflecting improved liquidity[49] - Cash and cash equivalents increased by 283.57% to CNY 725,611,978.41, primarily due to an increase in bank acceptance notes received[67] - The company’s total R&D investment was CNY 49,599,687.24, which is 1.49% of operating revenue, with capitalized R&D accounting for 0.76%[60] - The company plans to invest in photovoltaic glass projects in Jiaozuo and Xuchang, expected to be operational in 2022, enhancing market competitiveness[36] - The company plans to invest in a project to produce 180,000 tons of solar cell packaging glass annually, which is expected to enhance operational stability and market competitiveness[124] - The company plans to invest 120,000 million in a non-public stock issuance to support the production of 48 million square meters of photovoltaic lightweight substrate[186] Production and Capacity - The installed capacity of photovoltaic glass reached approximately 900t/d by the end of 2021, ranking ninth in the industry[35] - The production capacity of photovoltaic glass increased by about 50% by the end of 2021, reaching approximately 45,950t/d[35] - The production volume of LNG was 15.36 million tons, with a sales volume of 15.36 million tons, reflecting a growth of 24.17% year-on-year[51] - The sales volume of photovoltaic glass reached 5.02 million square meters, with a year-on-year increase of 30.34%[51] - The company is expanding its production capacity with an investment of 17.46 million RMB for a new production line for photovoltaic glass, expected to be operational in 2022[74] - The company established a subsidiary, Jiaozuo Ancai, to develop a project with an annual capacity of 180,000 tons of solar cell packaging glass[80] - The company operates a 900t/d photovoltaic glass furnace and a 600t/d float glass furnace, both of which have achieved stable emissions that meet national and local standards[145][146]. Market and Sales - The company reported a significant increase in the demand for large-sized and double-glass components, with the market share of 166mm components at approximately 37.5%[35] - The photovoltaic glass business achieved a sales revenue of 1.32 billion yuan, representing a year-on-year growth of 28%[36] - The natural gas business generated a total sales revenue of 1.78 billion yuan, an increase of 48.21% compared to the previous year[38] - The company is focusing on high-end glass manufacturing, particularly in photovoltaic and thermal glass sectors, to drive growth and profitability[96] - The company aims to enhance marketing capabilities by optimizing customer structure and increasing the sales of high-value products, particularly in the photovoltaic glass segment[98] - The company plans to enter new international markets, aiming for a 15% contribution to total revenue from overseas sales[110] Research and Development - The company applied for 12 patents during the reporting period, with a total of 121 effective authorized patents[44] - The company’s R&D expenses increased by 73.20% to 49.6 million RMB, indicating a focus on innovation[49] - The company is actively engaged in R&D for photovoltaic glass and other new glass technologies to improve production efficiency and product quality[62] - Research and development investments increased by 30%, focusing on sustainable energy solutions[110] Environmental and Social Responsibility - The company is committed to green development and has been recognized as an A-level enterprise for environmental performance[39] - The company has implemented advanced pollution control technologies, including SCR denitrification and dry desulfurization systems, ensuring emissions are below the national ultra-low emission standards[150]. - The company has established a rooftop photovoltaic power station to utilize solar energy, effectively reducing carbon dioxide emissions[151]. - The company has completed environmental impact assessments and obtained discharge permits for its projects, adhering to national regulations[147]. - The company has established emergency response plans for environmental incidents, which are regularly practiced and filed with local environmental authorities[148]. - The company donated 1 million yuan to the Long'an District Charity Association for post-disaster reconstruction and pandemic prevention efforts[154] - The company organized over 45 volunteer activities, enhancing its corporate social responsibility[154] Governance and Compliance - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring no competition arises[106] - The company emphasizes its commitment to social responsibility, including environmental protection and public welfare[106] - The company has a structured internal organization, including departments for manufacturing, finance, R&D, and market development[106] - The company’s governance practices are aligned with legal and regulatory requirements, with no significant discrepancies noted[106] - The company has established a comprehensive performance evaluation mechanism for senior management, linking compensation to annual performance assessments[136] - The internal control system has been continuously improved and refined, ensuring compliance with relevant laws and regulations[136] Risks and Challenges - The company faces risks related to accounts receivable due to significant credit terms offered to customers, which may lead to bad debt risks[99] - The company anticipates a substantial increase in raw material demand in 2022, with potential supply tightness and price increases for key materials like quartz sand and soda ash[101] - The company is actively managing foreign exchange risks due to significant export volumes in photovoltaic glass products[102] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[110] - New product launches are expected to contribute an additional 300 million yuan in revenue, with a focus on innovative technology[110] - The company is committed to improving operational efficiency, targeting a 5% reduction in operational costs by the end of the next fiscal year[110]