Zhejiang Longsheng(SH:600352)2022-04-18 16:00Financial Performance - The company's operating revenue for 2021 was CNY 16.66 billion, a 6.76% increase from CNY 15.61 billion in 2020[18]. - The net profit attributable to shareholders for 2021 was CNY 3.37 billion, a decrease of 19.21% compared to CNY 4.18 billion in 2020[18]. - The total net assets attributable to shareholders increased by 9.51% to CNY 30.36 billion at the end of 2021 from CNY 27.73 billion at the end of 2020[18]. - The company's net profit attributable to shareholders decreased by 19.21% to CNY 337,396,570[32]. - Total revenue for the year was 1,000,000 million RMB, with a year-on-year increase of 19.54% in inorganic products revenue[42]. - Total revenue for 2021 reached 19.05 billion CNY, an increase of 22.07% compared to the previous year[124]. - Total profit amounted to 6.17 billion CNY, reflecting a growth of 17.26% year-over-year[124]. - Net profit attributable to shareholders was 5.04 billion CNY, up by 20.56% from the previous year[124]. Cash Flow and Investments - The net cash flow from operating activities increased by 68.32% to CNY 4.68 billion in 2021 from CNY 2.78 billion in 2020[18]. - Total cash inflow from operating activities reached CNY 20,655,305,071.80, a 20.94% increase compared to CNY 17,079,092,663.67 in the same period last year[50]. - Total cash outflow from investment activities was CNY 6,864,678,655.93, a dramatic increase of 191.34% compared to CNY 2,356,269,143.32 in the previous year[50]. - Total cash inflow from financing activities was CNY 19,887,260,802.28, an 88.89% increase from CNY 10,528,752,000.00 year-on-year[50]. - The company invested CNY 383,028.46 million during the reporting period, representing a 113.53% increase compared to the previous year's investment of CNY 179,380.50 million[90]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 2.50 yuan per 10 shares (including tax) based on the total share capital as of the dividend distribution date, with a total undistributed profit of 1,652,145,177.25 yuan as of December 31, 2021[4]. - The company implemented a cash dividend policy, distributing 0.25 CNY per share (pre-tax) for the 2020 fiscal year[130]. - The total number of shares held by the company increased from 388,788,536 at the beginning of the year to 391,788,536 at the end of the year, reflecting a net increase of 3,000,000 shares[109]. Risk Management - The company reported no significant risks that could materially affect its production and operations during the reporting period[6]. - The company has detailed various risks and countermeasures in its report, ensuring transparency in its operational challenges[6]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders and their related parties[5]. - The company has not faced any significant safety production accidents or major environmental violations during the reporting period[89]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[3]. - The board of directors and supervisory board members have all attended the board meeting, ensuring the authenticity and completeness of the annual report[2]. - The company has not violated any decision-making procedures in providing guarantees to external parties[5]. - A total of 49 temporary announcements and four periodic reports were disclosed during the reporting period, enhancing transparency[102]. Research and Development - The company’s R&D expenses were CNY 652,528,853.02, a decrease of 7.37% compared to the previous year[33]. - The number of R&D personnel was 545, representing 6.99% of the total workforce[49]. - The company is focusing on expanding its product line through internal R&D and external acquisitions to enhance its market position[31]. - The company has established a comprehensive innovation platform and is accelerating the construction of a specialized research institute to enhance new business development[62]. Environmental and Social Responsibility - The company invested 9.0248 million yuan in poverty alleviation efforts, focusing on various charitable projects and support for impoverished students and disabled individuals[152]. - The company has upgraded its pollution control facilities, including the installation of an RTO for VOCs online monitoring and a new three-level alkaline spray + ozone generator for exhaust gas treatment[144]. - The company achieved compliance with wastewater discharge standards, with ammonia nitrogen cumulative discharge of 2.84 tons, meeting the annual requirements of 53.03 tons[143]. Governance and Management - The company has established an independent personnel management department responsible for labor, personnel, and salary management, ensuring complete independence in recruitment and management[104]. - The company has a governance structure with a clear separation of powers among the shareholders' meeting, board of directors, supervisory board, and management team, ensuring no interference from controlling shareholders[104]. - The company has implemented a transparent performance evaluation and incentive mechanism for its executives, ensuring compliance with regulations[102]. Market Position and Strategy - The company maintained its leading position in the dye industry, with China's dye production accounting for over 70% of global output[27]. - The company is focusing on integrating innovation and sustainable development to enhance its competitive edge in the chemical industry[62]. - The company is exploring potential mergers and acquisitions to strengthen its market position[110]. - The company aims to expand its aniline production capacity to 100,000 tons per year and phenol production capacity to 50,000 tons per year[98].