GUIZHOU CHITIANHUA CO.(SH:600227)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,181,369,746.32, representing a 13.21% increase compared to CNY 1,926,852,891.74 in 2020[21]. - The net profit attributable to shareholders was a loss of CNY 51,868,730.39, compared to a profit of CNY 55,605,342.41 in the previous year[22]. - The cash flow from operating activities was CNY 276,666,953.35, showing a 4.58% increase from CNY 264,557,038.82 in 2020[22]. - The total assets at the end of 2021 were CNY 4,602,167,789.46, a decrease of 1.14% from CNY 4,655,407,666.13 at the end of 2020[22]. - The company's net assets attributable to shareholders decreased by 1.71% to CNY 3,165,129,156.69 from CNY 3,220,207,150.01 in 2020[22]. - The cumulative undistributed profits as of December 31, 2021, were CNY -206,639.58 million, indicating no conditions for profit distribution[5]. - The company did not declare cash dividends or bonus shares for the year 2021 due to negative distributable profits[5]. - The company reported a basic earnings per share of -0.0306 CNY for 2021, a decrease from 0.0328 CNY in 2020[23]. - The company’s net profit attributable to shareholders was -5,186.87 million RMB, with a net profit excluding non-recurring items of -5,722.22 million RMB[78]. Operational Highlights - The total operating revenue for the fourth quarter was 526,307,352.98 CNY, with a year-over-year increase of 51% compared to the third quarter[25]. - The net profit attributable to shareholders for the fourth quarter was -170,561,532.5 CNY, a significant decline from 36,513,639.5 CNY in the third quarter[25]. - The company achieved a total operating revenue of 203,019.57 million CNY in its chemical business, reflecting a year-over-year increase of 31.53%[32]. - The average coal procurement price surged to 2200 CNY per ton in the fourth quarter, impacting the company's operational costs[33]. - The effective production time for the chemical business was 340 days in 2021, a decrease of 4.5% compared to 2020[33]. - The company produced 58.55 million tons of urea in 2021, representing a year-over-year increase of 5.13%[33]. - The company reported a cash flow from operating activities of 114,553,375 CNY in the first quarter of 2021[26]. - The company plans to enhance production management and optimize operational processes to mitigate external adverse impacts[33]. Market and Industry Trends - The domestic urea market in 2021 experienced price fluctuations, with prices reaching historical highs due to supply-demand mismatches and inflation factors[41]. - In 2021, the total production of urea in China was 53.699 million tons, a slight decrease of 0.06% compared to 2020[43]. - Urea prices reached historical highs in the second and third quarters of 2021, driven by supply constraints and increased demand, despite a decline in demand in August due to export policy tightening[42]. - The average price of compound fertilizer in 2021 was 2,744 RMB/ton, with significant price increases observed throughout the year[48]. - The production capacity of methanol in China was 96.74 million tons in 2021, reflecting a year-on-year growth of 3.54%[54]. - The actual methanol production in 2021 was 78.9995 million tons, an increase of 9.45% compared to 2020[54]. - The overall market for urea is influenced by both positive and negative factors, with global food security concerns likely to have a greater positive impact[48]. - The domestic methanol market experienced significant fluctuations, with prices reaching historical highs due to various market pressures, including high coal prices and supply constraints[53]. Research and Development - The company applied for 25 intellectual property rights in 2021, including 1 invention patent and 24 utility model patents, all of which received acceptance notices[35]. - The company’s research and development expenses increased by 32.02% to 95,625.80 million RMB, indicating a commitment to enhancing product development[81]. - Total R&D investment reached 97,907,255.58 CNY, which is 4.49% of operating revenue, with capitalized R&D accounting for 2.33%[93]. - The number of R&D personnel is 148, making up 12.63% of the total workforce[94]. - The company has made significant advancements in the development of drugs for various conditions, including diabetes and hypertension, with several projects in the final stages of research[123]. - The company is actively pursuing regulatory approvals for new products, with several applications currently under review by the National Medical Products Administration[125]. - The company has established a robust governance structure to ensure independence from its controlling shareholders, maintaining operational autonomy[173]. Strategic Initiatives - The company is focusing on new product development and technological advancements to meet evolving market demands[180]. - The company is exploring partnerships to expand its market reach and enhance product offerings[180]. - The company is investing heavily in R&D, with a budget allocation of 100 million yuan for the development of new pharmaceutical technologies[184]. - The company is actively expanding its presence in the internet healthcare sector, supported by government policies aimed at promoting telemedicine services[162]. - The company is committed to enhancing quality management and regulatory compliance in response to stricter oversight in the pharmaceutical industry[161]. - The company plans to produce 581,800 tons of urea, 357,500 tons of methanol, and 24.53 million boxes (bottles, units) of pharmaceuticals in 2022, with an expected revenue of 2,521.87 million yuan and a projected total profit of -191.42 million yuan[166]. Corporate Governance and Management - The total pre-tax remuneration for the chairman, Ding Linhong, was CNY 564,000[178]. - The total pre-tax remuneration for the vice chairman, Zhou Junsheng, was CNY 572,700[178]. - The total pre-tax remuneration for the independent director, Shi Yucheng, was CNY 100,000[178]. - The total pre-tax remuneration for the independent director, Liu Jian, was CNY 100,000[178]. - The total pre-tax remuneration for the independent director, Wang Pu, was CNY 100,000[178]. - The total pre-tax remuneration for the supervisor, Dai Xuanzhong, was CNY 262,300[178]. - The total pre-tax remuneration for the board secretary, Xian Zhenghong, was CNY 402,700[178]. - The total pre-tax remuneration for the financial director, Wu Huan, was CNY 147,000[178]. - The total pre-tax remuneration for the deputy general manager, Chen Honglin, was CNY 367,400[178]. - The total pre-tax remuneration for the deputy general manager, Yang Yang, was CNY 0[178]. - The company has not faced any penalties from securities regulatory agencies in the past three years[189]. - The total number of employees in the parent company is 66, while the main subsidiaries employ 1,161, resulting in a total of 1,227 employees[200].