JINNIU CHEMICAL(SH:600722)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 567,634,700.84, representing a 40.49% increase compared to CNY 404,035,305.28 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 48,054,948.71, a significant increase of 384.14% from CNY 9,925,926.88 in 2020[17]. - The net profit after deducting non-recurring gains and losses was CNY 46,586,299.71, up 401.05% from CNY 9,297,798.81 in the previous year[17]. - The net cash flow from operating activities reached CNY 161,177,824.36, a 395.59% increase compared to CNY 32,522,587.47 in 2020[17]. - The total assets at the end of 2021 were CNY 1,341,518,614.76, an 8.2% increase from CNY 1,239,819,123.01 at the end of 2020[17]. - The net assets attributable to shareholders increased by 4.64% to CNY 1,059,479,872.50 from CNY 1,012,459,571.88 in 2020[17]. - Basic earnings per share for 2021 were CNY 0.0706, a 383.81% increase from CNY 0.0146 in 2020[18]. - The weighted average return on equity rose to 4.64% in 2021, an increase of 3.66 percentage points from 0.98% in 2020[18]. Production and Sales - The methanol production volume for the year was 215,900 tons, slightly above the annual capacity of 200,000 tons[23]. - Total production of methanol was 215,880 tons, with sales volume at 215,907.15 tons, marking a year-on-year increase of 24.47% in production and 24.86% in sales[32]. - The company's main business revenue from the chemical industry reached ¥485,249,610.82, with a year-on-year increase of 85.28%[31]. - The average market price of methanol saw a significant increase, contributing to improved profitability[23]. Research and Development - Research and development expenses rose by 116.10% to CNY 4.08 million, reflecting increased investment in innovation[29]. - The company's R&D expenses for 2021 amounted to ¥4,081,225.58, representing a 116.10% increase compared to ¥1,888,596.42 in 2020[40]. - The total R&D expenditure accounted for 0.72% of the company's operating revenue[40]. - The company has 20 R&D personnel, accounting for 12.5% of the total workforce[41]. Tax and Financial Management - The company's effective tax rate increased due to higher profits, with income tax expenses rising by 290.79% to CNY 7.12 million[29]. - The company reported a 290.79% increase in income tax expenses, totaling ¥7,122,891.87 in 2021, compared to ¥1,822,701.33 in 2020[39]. - The company reported a significant increase in procurement from major suppliers, with the top five suppliers accounting for 75.22% of total procurement, highlighting a 127.37% increase from the previous year for the largest supplier[36]. Environmental and Safety Measures - The company operates a wastewater treatment plant and other pollution control facilities, all reported to be functioning well[99][100]. - The company has established a comprehensive environmental protection system and installed online monitoring equipment at pollution discharge points, with third-party organizations responsible for daily maintenance and quarterly monitoring[103]. - The company has committed to ensuring fair pricing in related transactions and has established protocols for independent third-party pricing assessments[109]. - The company has established emergency response plans for environmental incidents related to its projects[102]. Corporate Governance - The board of directors has approved a dividend payout of 0.5 RMB per share, maintaining a stable return for shareholders[76]. - The total remuneration for all directors, supervisors, and senior management personnel was 144.31 million RMB for the reporting period[80]. - The company has established specialized committees, including the Audit Committee and the Strategic Committee, to enhance governance[84]. - The company implements a performance-based salary system, linking salary to job performance assessments, with annual performance bonuses for employees[89]. Future Outlook and Strategic Plans - The company plans to continue focusing on safety and environmental measures while optimizing operational costs to sustain growth[23]. - The company plans to produce and sell 196,000 tons of methanol in 2022, aiming for revenue of 48,921.00 million RMB[64]. - The company provided a future outlook projecting a revenue growth of 12% for the next fiscal year, driven by new product launches and market expansion[76]. - The company is considering strategic acquisitions to enhance its competitive position, with a budget of 50 million RMB allocated for potential deals[115].