YMCC(SH:600691)2022-04-15 16:00Financial Performance - The company achieved an operating income of RMB 18.74 billion in 2021, an increase of 4.39% compared to 2020[23]. - The net profit attributable to shareholders reached RMB 431.71 million, a significant increase of 234.82% year-on-year[23]. - The total profit for the year was RMB 657 million, up by RMB 530 million from 2020, representing a growth of 417.14%[32]. - The company reported a net cash flow from operating activities of RMB 1.07 billion, a decrease of 61.65% compared to 2020[23]. - The company’s total assets at the end of 2021 were RMB 24.44 billion, a slight increase of 0.91% from the previous year[23]. - The company reported a net profit of ¥6,830,604.74 for the year 2021, with a negative retained earnings of ¥-4,075,935,354.70 at year-end, leading to no profit distribution for the year[160]. - The company’s main business income was 18.353 billion RMB, reflecting an increase of 1.192 billion RMB or 6.94% from the previous year[46]. - The company reported a total revenue of CNY 18.35 billion, representing a year-on-year increase of 6.94%[92]. Production and Operations - The company completed a total production of 3.9851 million tons, exceeding the planned target by 13.86%[32]. - The production volumes for key products included 2.1123 million tons of urea, 0.2510 million tons of PVC, and 0.1640 million tons of propylene[43]. - The company produced 2.1123 million tons of urea in 2021, accounting for approximately 3.77% of the domestic market share[78]. - The company’s PVC production capacity is 300,000 tons, with an output of 251,000 tons in 2021, resulting in a market share of 1.2%[78]. - The company is entering a comprehensive construction phase for its clean and efficient coal utilization project in 2022, which carries inherent construction risks[106]. Environmental and Safety Management - The company is committed to environmental protection and may face increased operational costs due to stricter environmental regulations[109]. - The company is classified as a key pollutant discharge unit, adhering to environmental regulations and standards for pollutant discharge[171]. - Major pollutants monitored include COD, ammonia nitrogen, sulfur dioxide, and nitrogen oxides, with all emissions reported to be within regulatory limits[171]. - The company has successfully completed the environmental impact assessment for the carbon four comprehensive utilization project, indicating ongoing commitment to environmental responsibility[179]. - The company has implemented a self-monitoring plan that complies with local environmental department requirements, with no exceedances reported in 2021[181]. Governance and Compliance - The company maintains independence from its controlling shareholder, adhering to governance standards and ensuring no direct or indirect interference in decision-making[114]. - The internal control system was evaluated, with no significant deficiencies found in its completeness, rationality, and effectiveness during the reporting period[116]. - The company has established a comprehensive internal control management system in accordance with regulatory requirements, ensuring effective financial reporting controls without any major defects identified during the evaluation period[164]. - The company has implemented measures to manage insider information and ensure fair disclosure practices[117]. - The company has made commitments regarding related party transactions, ensuring compliance with legal regulations and avoiding illegal occupation of funds and resources[189]. Strategic Initiatives - The company plans to enhance its competitive edge through the integration of coal and salt chemical industries, aiming for high-quality development[39]. - The company is focusing on the implementation of carbon peak and carbon neutrality goals, aligning with national policies to promote green and low-carbon development[70]. - The company is actively participating in the "Ten Actions for Carbon Peak" which includes energy green and low-carbon transformation actions, aiming for comprehensive green transformation in economic and social development[70]. - The company is exploring potential mergers and acquisitions to strengthen its market position[128]. - The company aims to develop high-end, high-value-added, and low-energy consumption products, focusing on sustainable and high-quality development[100]. Human Resources and Training - The total number of employees at the company and its main subsidiaries is 7,446, with 5,868 in production, 247 in sales, and 269 in technical roles[153]. - The company conducted 601 training sessions, totaling 59,208 participants, including 1,312 for safety management personnel and 6,329 for management and technical personnel[158]. - The company has 937 retired employees for whom it bears costs, indicating a significant liability for employee benefits[153]. - The company has established a comprehensive management system to protect employee rights and improve workplace safety and health[187]. Financial Commitments and Future Outlook - The company committed to maintaining a cash dividend of no less than 10% of the distributable profit achieved in the year, with a cumulative cash distribution of no less than 30% of the average annual distributable profit over three consecutive years[1]. - The company will ensure the independence of *ST Dongtan in terms of organization, finance, and decision-making after the completion of the major asset restructuring[1]. - The company will actively seek to resolve any industry competition issues between Yangmei Chemical and Taihua Co. during the relocation process[1]. - Future outlook remains positive with a focus on sustainable growth and innovation[128].