Jinrui Mineral(SH:600714)2022-04-13 16:00Financial Performance - In 2021, the company achieved a total revenue of ¥361,353,944.35, representing a 121.67% increase compared to ¥163,014,838.22 in 2020[21]. - The net profit attributable to shareholders was ¥77,360,250.02, a significant increase of 2,060.83% from ¥3,580,123.88 in the previous year[21]. - The net cash flow from operating activities reached ¥71,074,779.79, up 1,532.81% from ¥4,352,920.40 in 2020[21]. - The company's total assets increased by 13.94% to ¥783,232,000.03 at the end of 2021, compared to ¥687,391,535.64 at the end of 2020[21]. - The basic earnings per share rose to ¥0.268, a 2,133.33% increase from ¥0.012 in 2020[22]. - The weighted average return on equity improved to 11.73%, up 11.15 percentage points from 0.58% in the previous year[22]. - The company reported a net asset attributable to shareholders of ¥698,691,108.15, reflecting a 12.68% increase from ¥620,090,412.42 in 2020[21]. - The comprehensive gross profit margin for the main business was 35.90%, up by 24.97 percentage points year-on-year[27]. - The company achieved a net asset return rate of 11.73%, an increase of 11.15 percentage points year-on-year[27]. - The company reported a significant increase in direct labor costs, rising by 108.46% due to higher employee salaries[47]. - The company’s total sales revenue from direct sales was ¥350,599,413.09, with a gross margin of 35.90%[44]. - The company reported cash received from sales and services of CNY 297,825,002.13, an increase of 162.60% compared to the previous year[53]. - The accounts receivable increased by 214.50% to CNY 33,421,716.57, primarily due to increased sales revenue[54]. - The inventory rose by 51.82% to CNY 82,094,837.50, attributed to increased stock and rising raw material prices[54]. - The company’s total R&D expenditure was ¥4,597,668.14, representing 1.27% of total revenue[50]. - The company reported a total of 288,176,273.00 in paid-in capital at the beginning of the year[199]. Operational Efficiency - The company successfully managed to secure raw material supply channels despite procurement difficulties and price increases[27]. - The company implemented several production upgrades, including the renovation of desulfurization towers and the establishment of new production lines, enhancing production efficiency[30]. - 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 production of strontium carbonate and related products decreased by 5.96%, while sales volume dropped by 14.66%[45]. - The company produced 18,500 tons of strontium carbonate in 2021, capturing a significant market share domestically[57]. - The company plans to optimize product processes and gradually release production capacity to enhance market competitiveness[57]. - The company is actively expanding its product range and market share by adjusting production structures and marketing strategies in response to market demand[37]. - The company is focused on maintaining stable and high-quality product offerings while advancing technological innovation to meet diverse market demands[61]. Risk Management and Governance - The company has outlined potential risks in its future development strategy, emphasizing the importance of investor awareness regarding investment risks[6]. - The company is committed to improving its governance structure and risk management to ensure independent and compliant operations amid control risks from its major shareholder[79]. - The company has established a robust internal control system, continuously improving its execution and risk process control, which has effectively elevated governance standards[87]. - The company strictly adheres to the Company Law, Securities Law, and relevant regulations, enhancing its governance level through independent operations and risk management[85]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[7]. - The company actively engages with investors through various channels, ensuring timely and accurate responses to investor inquiries, thus maintaining a positive market image[87]. - The company has implemented strict insider information management, ensuring compliance and preventing insider trading incidents during the reporting period[88]. - The company has established connections with various state-owned enterprises, enhancing its operational capabilities[96]. Environmental and Social Responsibility - The company maintained a strong focus on safety and environmental management, with no safety incidents reported during the reporting period[30]. - The company strictly adhered to environmental protection laws and regulations, achieving a 100% comprehensive utilization rate of waste generated[126]. - The company reported that all pollutants were discharged in accordance with national standards, with no administrative penalties received for environmental issues[125]. - The company is committed to environmental protection and sustainable development, increasing investment in environmental governance and upgrading technology[135]. - The company actively participates in social welfare initiatives, donating to local community projects and supporting government efforts in rural development[136]. Shareholder and Management Structure - The company has a cash dividend policy that was not adjusted during the reporting period, and the 2020 profit distribution plan was approved, but no dividends were distributed due to negative retained earnings of -31,616,338.73 CNY at the parent company level[117]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 4.1151 million CNY[93]. - The company has appointed a new chairman, Ren Xiaokun, whose term will last from November 8, 2021, to November 7, 2024[93]. - The independent directors, including Fan Zengyu, Qiao Jun, Zhang Xianli, and Chen Ding, each received a pre-tax compensation of 30,000 CNY during the reporting period[93]. - The company has a focus on maintaining a stable management structure with no significant changes in personnel during the reporting period[96]. - The management team has extensive experience in various sectors, including finance, law, and energy, with key members having held significant positions in other companies[95]. - The company has not reported any changes in shareholding for the directors and supervisors during the reporting period[93]. - The company has not faced any major changes in competitive conditions that would affect its operations or independence from its controlling shareholder[90]. Future Outlook - The company plans to invest 2,548.50 million RMB in technical transformation projects in 2022[80]. - For 2022, the company plans to produce 17,850 tons of strontium carbonate and achieve sales revenue of 32,911.51 million RMB from its main products[80]. - The company aims to enhance product quality and reduce production costs through increased investment in technology research and development[79]. - The company will continue to monitor industry trends and adjust production strategies to enhance market competitiveness[81]. - The company is conducting feasibility studies on utilizing strontium slag to produce strontium chloride, aiming to further reduce solid waste emissions[132].