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沧州大化(600230) - 2021 Q4 - 年度财报
CZDHCZDH(SH:600230)2022-04-21 16:00

Financial Performance - In 2021, the company achieved a revenue of CNY 2,387,383,464.78, representing a 44.40% increase compared to CNY 1,653,264,775.04 in 2020[23]. - The net profit attributable to shareholders reached CNY 220,280,988.32, a significant increase of 496.39% from CNY 36,935,813.37 in the previous year[23]. - The basic earnings per share rose to CNY 0.5347, up 496.10% from CNY 0.0897 in 2020[24]. - The total assets of the company at the end of 2021 were CNY 7,152,581,169.61, reflecting a 12.24% increase from CNY 6,372,663,011.19 in 2020[23]. - The net cash flow from operating activities increased by 120.58% to CNY 376,994,279.07 from CNY 170,911,381.59 in 2020[23]. - The weighted average return on equity improved to 5.99%, an increase of 4.96 percentage points from 1.03% in 2020[24]. - The company reported a net asset attributable to shareholders of CNY 3,785,909,134.06, a 5.95% increase from CNY 3,573,386,052.07 in 2020[23]. - The company reported a net profit of CNY 239,477,135.86 for the fiscal year 2021, with distributable profits for all shareholders amounting to CNY 2,546,923,810.41[134]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.6 per 10 shares, totaling CNY 25,115,778.12[6]. - The proposed cash dividend for 2021 is CNY 0.6 per 10 shares, totaling CNY 25,115,778.12, with no stock bonus or capital reserve conversion planned[134]. - The company implemented a cash dividend policy, distributing 0.15 CNY per share, totaling 6,177,952.53 CNY for the 2020 fiscal year[132]. - The company’s profit distribution plan emphasizes cash dividends to ensure stable returns for shareholders[131]. Production and Sales - TDI production reached 133,705.46 tons, a year-on-year increase of 1.83%, while sales increased by 17.76% to 143,974.71 tons[47]. - The company’s TDI product accounted for approximately 10% of the domestic total production, with a production capacity of 15,000 tons[44][47]. - The production capacity for caustic soda (liquid) is 160,000 tons, primarily serving customers in Hebei and Shandong provinces[40]. - The company’s PC production capacity is 100,000 tons, representing 4% of the domestic total capacity, with successful production of copolymer silicon PC[42]. - The company’s total production of caustic soda decreased by 3.23% to 484,573.61 tons, with sales down by 12.75% to 393,102.36 tons[47]. Market Trends and Pricing - The average market price for TDI peaked at CNY 18,000 per ton in March 2021 but fell to CNY 13,000 per ton by June due to increased domestic supply and reduced export demand[34]. - The price of caustic soda reached a historical high of CNY 1,850 per ton in September 2021, driven by supply constraints from environmental regulations[37]. - The PC market experienced significant fluctuations, with prices reaching CNY 27,000 per ton in Q3 before declining to CNY 21,000 per ton in Q4 due to increased domestic production and low-priced imports[38]. - Domestic TDI supply capacity significantly exceeds market demand, leading to a pronounced supply-demand imbalance with no short-term improvement expected[103]. Research and Development - The company’s R&D expenses increased by 11.97% to CNY 22,436,629.18, reflecting a commitment to innovation[49]. - The number of R&D personnel is 123, accounting for 10.49% of the total workforce[62]. - The company has successfully developed a new silicone copolymer PC product, becoming the first in China to achieve continuous production of this type[87]. - The company has signed cooperation agreements with well-known universities to enhance research capabilities and technology transfer[78]. Environmental Compliance - The company has implemented continuous monitoring and compliance checks for all major pollutants, ensuring adherence to environmental standards[146]. - The company reported a chemical oxygen demand of 37 mg/L in wastewater, which is well within the standard limit of 150 mg/L[148]. - The ammonia nitrogen level in wastewater was recorded at 7.98 mg/L, below the standard limit of 25 mg/L, confirming compliance[148]. - The company successfully maintained sulfur dioxide emissions at 16 mg/m³, below the standard limit of 200 mg/m³[149]. - The company reduced carbon dioxide emissions by 17,700 tons in 2021 through various energy-saving and carbon reduction projects[161]. Corporate Governance and Shareholder Structure - The company held eight board meetings in 2021, with all directors attending the meetings in person[119]. - The company has a strong leadership team with extensive experience in the chemical industry, which is expected to drive future growth[111]. - The total number of shares held by the general manager, Du Senyao, is 0, with a reported compensation of 23.5 million yuan[109]. - The controlling shareholder, Cangzhou Dahua Group, holds 190.4674 million shares, representing 45.50% ownership, a decrease of 0.75% post-registration[191]. - The total number of ordinary shareholders reached 41,718 by the end of the reporting period[196]. Related Party Transactions - The company guarantees that all existing and future related party transactions with Cangzhou Dahua will be fair and conducted according to normal commercial practices[171]. - The company has made long-term commitments to resolve related party transactions and competition issues with Cangzhou Dahua Group[165]. - The total planned amount for related party transactions in 2021 was 28.62 million RMB, while the actual amount was 20.48 million RMB, representing a 28.5% decrease[181]. Risk Management - The company has outlined potential risks in its future development in the management discussion and analysis section[9]. - The company will closely monitor domestic and international product price trends to mitigate the impact of price fluctuations on operations[103]. - The company plans to enhance its production and cost management through technological and managerial innovations to stabilize production[103].