Jinrui Mineral(SH:600714)2022-03-21 16:00Financial Performance - In 2021, the company achieved a net profit of ¥77,360,250.02, a significant increase of 2,060.83% compared to the previous year's net profit of ¥3,580,123.88[5]. - The company's operating revenue for 2021 was ¥361,353,944.35, representing a 121.67% increase from ¥163,014,838.22 in 2020[21]. - The net cash flow from operating activities reached ¥71,074,779.79, up 1,532.81% from ¥4,352,920.40 in the previous year[21]. - The total assets of the company at the end of 2021 were ¥783,232,000.03, reflecting a 13.94% increase from ¥687,391,535.64 at the end of 2020[21]. - The company's net assets attributable to shareholders increased by 12.68% to ¥698,691,108.15 from ¥620,090,412.42 in 2020[21]. - Basic earnings per share for 2021 were ¥0.268, a substantial increase of 2,133.33% compared to ¥0.012 in 2020[22]. - The weighted average return on equity rose to 11.73% in 2021, up from 0.58% in 2020, marking an increase of 11.15 percentage points[22]. - The company reported a net profit attributable to shareholders of ¥77.36 million, marking the best performance in recent years[27]. - The total operating revenue for 2021 reached ¥361,353,944.35, a significant increase from ¥163,014,838.22 in 2020, representing a growth of approximately 121.5%[187]. - The total profit for 2021 was ¥91,039,302.35, compared to ¥4,452,919.60 in 2020, showing an increase of approximately 1,943.5%[188]. Revenue and Sales - The comprehensive gross profit margin for the main business was 35.90%, up by 24.97 percentage points year-on-year[27]. - The sales price of strontium carbonate increased significantly, with a year-on-year increase of 109.60%[28]. - The sales revenue from direct sales channels amounted to CNY 35,059.94 million, marking a significant increase compared to the previous year[72]. - Strontium carbonate products achieved revenue of ¥186,646,999.55, with a gross margin of 41.21%, up by 23.18 percentage points compared to the previous year[44]. - Metal strontium products reported revenue of ¥72,401,466.20, with a gross margin of 48.50%, an increase of 47.52 percentage points year-over-year[44]. Production and Capacity - The company has a production capacity of 20,000 tons/year of strontium carbonate, 2,000 tons/year of metallic strontium, and 5,000 tons/year of aluminum-strontium alloy, which is considered medium-sized in the industry[34]. - The company produced 18,500 tons of strontium carbonate in 2021, capturing a significant share of the domestic market[57]. - The company achieved a total annual emission of 0.72 tons for SO2, with an actual emission concentration of 24.1 mg/m³, which is below the limit of 400 mg/m³[127]. - The company has entered the trial production phase for its newly developed high-purity strontium carbonate project[61]. Costs and Expenses - The cost of sales rose by 59.19% to ¥229.04 million, influenced by higher raw material prices[41]. - The company’s R&D expenses decreased by 19.93% to ¥4.60 million, indicating a focus on cost management[42]. - Sales expenses increased by 176.99% to ¥1,983,144.16, primarily due to higher employee compensation[49]. - Management expenses rose by 52.85% to ¥33,594,361.16, driven by increased employee salaries and maintenance costs[49]. Cash Flow and Investments - The cash received from sales and services increased to ¥297,825,002.13, a 162.60% increase compared to ¥113,412,523.79 in the previous year[53]. - The cash paid for purchasing goods and services rose to ¥169,518,296.87, reflecting a 136.58% increase from ¥71,654,993.58 due to rising raw material prices[53]. - The company reported a net increase in cash and cash equivalents of ¥74,661,031.64 for 2021, compared to ¥99,864,806.41 in 2020, indicating a decrease in cash generation[193]. - The company utilized no more than 500 million RMB of its own funds for entrusted financial management to enhance capital efficiency[173]. Governance and Management - The company is committed to improving its governance structure and risk management to ensure independent and compliant operations[84]. - The company has established a clear governance structure with distinct responsibilities for the "three meetings and one layer," ensuring effective operation and decision-making[85]. - The company has improved its internal control system, enhancing risk process control and governance levels through self-evaluation and internal audits[86]. - The company has maintained a strong investor relations management strategy, utilizing multiple communication channels to ensure timely and accurate responses to investor inquiries[86]. - The company has appointed independent directors with diverse backgrounds, including legal and financial expertise, to enhance governance[94]. Environmental Responsibility - The company has strictly adhered to environmental regulations, with all pollutants discharged in compliance with national standards, and no administrative penalties received[124]. - The company achieved a 100% comprehensive utilization rate of waste, with 2.35 million tons of strontium slag produced in 2021 used in brick and cement industries[125]. - The company implemented a project to replace coal with natural gas, which is expected to reduce CO2 emissions by 20%-30%[132]. - The company has established an emergency response plan for environmental incidents, which has been updated and filed with local environmental authorities[128]. Risks and Challenges - The company has disclosed potential risks in its management discussion and analysis section, advising investors to be cautious[8]. - The domestic strontium salt industry is facing challenges such as raw material price increases and supply shortages, which may impact future performance[80]. - The company faces risks related to raw material supply, particularly for celestite, which is crucial for production cost[81]. Shareholder Information - The controlling shareholder, Qingtou Company, has pledged 120,408,813 shares, accounting for 98.32% of its holdings and 41.78% of the company's total shares[142]. - The largest shareholder, Qinghai Investment Group Co., Ltd., holds 122,467,041 shares, accounting for 42.50% of the total share capital, with 98.32% of its shares pledged[162]. - The total number of ordinary shareholders at the end of the reporting period was 16,246, down from 20,197 at the end of the previous month[152].