三友化工(600409) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 23,182,249,206.61, representing a 30.38% increase compared to CNY 17,780,276,855.09 in 2020[19]. - Net profit attributable to shareholders for 2021 reached CNY 1,671,006,703.38, a significant increase of 133.04% from CNY 717,058,431.83 in 2020[19]. - The net profit after deducting non-recurring gains and losses was CNY 1,626,145,089.14, up 156.20% from CNY 634,715,105.24 in the previous year[19]. - The basic earnings per share for 2021 was CNY 0.8095, reflecting a 133.02% increase from CNY 0.3474 in 2020[21]. - The weighted average return on equity increased to 13.77% in 2021, up 7.49 percentage points from 6.28% in 2020[21]. - The company's total assets at the end of 2021 were CNY 25,989,223,889.12, a 6.98% increase from CNY 24,293,321,060.46 at the end of 2020[19]. - The net cash flow from operating activities for 2021 was CNY 1,579,934,954.57, a decrease of 24.27% compared to CNY 2,086,139,877.41 in 2020[19]. - The company achieved an annual revenue of 23.182 billion yuan, representing a year-on-year growth of 30.38%, and a net profit attributable to the parent company of 1.671 billion yuan, up 133.04%[32]. Dividend Distribution - The company plans to distribute a cash dividend of 2.45 RMB per 10 shares, totaling approximately 505.77 million RMB, which accounts for 30.27% of the net profit attributable to shareholders[4]. - The company’s annual profit distribution plan has been approved by the board and will be implemented after the shareholders' meeting[4]. - In 2020, the company distributed a total cash dividend of 506 million yuan, accounting for 70.53% of the net profit attributable to shareholders for that year[174]. Audit and Compliance - The company reported a standard unqualified audit opinion from Zhongxi Certified Public Accountants for the fiscal year 2021[4]. - The company’s financial report has been confirmed for its authenticity, accuracy, and completeness by its board of directors and senior management[4]. - The company has not violated any regulatory decision-making procedures for providing guarantees during the reporting period[4]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[4]. - The company has implemented a standardized internal control management system, with no significant deficiencies identified in financial reporting controls during the reporting period[179]. Production and Operations - In 2021, the company produced 3.3825 million tons of soda ash, a year-on-year increase of 0.13%, while the production of viscose staple fiber decreased by 9.05% to 681,700 tons[32]. - The production volume for soda ash was 3.38 million tons, while sales reached 3.31 million tons, indicating strong market demand[42][44]. - The company’s annual production capacity for soda ash and viscose staple fiber stands at 3.4 million tons and 780,000 tons, respectively, establishing it as a leading player in the domestic market[41]. - The company’s PVC production reached 361,000 tons, with a focus on maximizing profits through strategic production adjustments[34]. - The company’s caustic soda production capacity is approximately 4.46 million tons, with an output of about 3.83 million tons, representing a year-on-year growth of approximately 5% and a capacity utilization rate of about 86%[83]. Research and Development - The company received 76 authorized patents during the reporting period, including 19 invention patents, reflecting its commitment to technological innovation[35]. - Research and development expenses increased by 14.78% to CNY 221,355,507.68, reflecting the company's commitment to innovation[45]. - The company has established a high-level management training program to improve decision-making and strategic capabilities[171]. - The company is actively expanding its product line, including the development of silicone encapsulants for power batteries and other new silicone products[3]. - The company developed new products such as eco-friendly fibers and antibacterial modal, enhancing its market competitiveness[3]. Market Conditions - The soda ash market reached historical highs due to increased demand and limited supply, with the company capitalizing on favorable market conditions[36]. - The company anticipates a favorable outlook for the domestic soda ash market in 2022, driven by stable demand from the photovoltaic glass sector[121]. - The company expects the organic silicon market to experience a supply increase of approximately 50% in 2022, with demand growth remaining robust at no less than 15%[124]. Environmental Compliance - The total emissions for sulfur dioxide were 177.76 tons, nitrogen oxides were 246.58 tons, and particulate matter was 22.76 tons, all within the approved limits[183]. - The company executed a wastewater discharge plan with a total of 1 discharge point for wastewater and 46 for exhaust gas, ensuring compliance with environmental standards[184]. - The company has installed online monitoring systems for emissions and wastewater, ensuring real-time compliance with environmental regulations[196]. - The company has constructed various pollution control facilities, including flue gas desulfurization and dust removal systems, to ensure emissions meet regulatory standards[199]. Governance and Management - The company has established a comprehensive corporate governance structure, ensuring compliance with relevant laws and regulations, and promoting healthy development[132]. - The board of directors consists of 15 members, including 5 independent directors, ensuring a balanced governance structure[132]. - The total remuneration for all directors, supervisors, and senior management in 2021 amounted to 32.2111 million yuan[153]. - The company continues to maintain a stable management structure with no significant changes in personnel during the reporting period[140]. Risks and Challenges - The company faces significant risks from macroeconomic fluctuations, particularly due to the ongoing impacts of the COVID-19 pandemic, which have affected the profitability of its basic chemical products[127]. - Environmental risks are increasing as national policies become stricter, leading to a year-on-year rise in new environmental investments, which may weaken profitability[127]. - Currency exchange rate fluctuations pose risks to the company's import and export activities, necessitating strategies to balance trade and mitigate foreign exchange risks[130].