XJJW(SH:600888)2022-03-28 16:00Financial Performance - In 2021, the company achieved operating revenue of ¥8,225,544,266.08, representing a 43.88% increase compared to ¥5,717,109,694.39 in 2020[18] - The net profit attributable to shareholders was ¥853,042,091.77, a significant increase of 142.97% from ¥351,089,370.45 in the previous year[18] - The net profit after deducting non-recurring gains and losses reached ¥930,673,629.98, up 192.72% from ¥317,939,334.23 in 2020[18] - The net cash flow from operating activities was ¥688,439,373.73, an increase of 124.27% compared to ¥306,973,034.43 in 2020[18] - By the end of 2021, the net assets attributable to shareholders amounted to ¥6,839,544,163.25, reflecting a 42.62% increase from ¥4,795,695,267.72 at the end of 2020[18] - Total assets reached ¥13,945,794,658.54, which is a 19.19% increase from ¥11,700,453,905.94 in the previous year[18] - Basic earnings per share increased by 100.84% to CNY 0.6961 in 2021 compared to CNY 0.3466 in 2020[20] - The weighted average return on net assets rose by 6.64 percentage points to 14.25% in 2021 from 7.61% in 2020[20] Dividend and Capital Management - The company plans to distribute a cash dividend of ¥1.90 per 10 shares, totaling ¥256,006,922.45, subject to shareholder approval[3] - The company does not plan to increase capital reserves through stock conversion in 2021[3] Production and Sales - Sales volume of electronic aluminum foil and electrode foil reached 21,000 tons and 25.58 million square meters, respectively, with year-on-year growth of 16.15% and 48.76%[28] - The company achieved a net cash flow from operating activities of CNY 16,717,473.85 in Q4 2021, indicating strong cash generation capabilities[21] - In 2021, the sales revenue of the company's electrode foil products reached 1.652 billion yuan, an increase of 56.77% year-on-year, with a sales volume of 25.5794 million square meters, up 48.76%[45] - The sales revenue of electronic aluminum foil products was 817 million yuan, reflecting a year-on-year growth of 26.45%, with a sales volume of 21,100 tons, increasing by 16.15%[45] - The high-purity aluminum products generated sales revenue of 869 million yuan, marking a 27.91% increase year-on-year, with a sales volume of 36,700 tons, up 2.92%[45] Research and Development - The company is actively engaged in R&D for high-capacity and high-voltage electrode foil products, targeting the energy storage and electric vehicle markets[29] - Total research and development expenses amounted to 50,183.34 million RMB, representing 6.10% of operating revenue[76] - The company has 421 R&D personnel, accounting for 16% of the total workforce[77] - R&D expenses for the reporting period amounted to 501.83 million RMB, with 33.93 million RMB classified as R&D costs and 467.91 million RMB included in production costs[80] Market Strategy and Expansion - The company is focusing on expanding its market share in high-capacity, high-bend, long-life, and energy-saving electrode foil products for fast charging, new energy, and major equipment markets[98] - The company is actively pursuing market expansion and strategic partnerships to enhance customer collaboration and product value[98] - The company plans to achieve a revenue of 9 billion CNY in 2022, with a cost control target of 7.5 billion CNY[98] Environmental and Social Responsibility - The company implemented energy-saving projects that resulted in a total electricity savings of 40 million kWh/year and a reduction of over 11,000 tons of carbon dioxide emissions[158] - The company purchased 1.21 billion kWh of renewable energy, saving 148,900 tons of standard coal and reducing carbon dioxide emissions by 739,000 tons[158] - A total of CNY 24,200 was awarded in scholarships to impoverished students from 20 villages and Akbag Primary School[160] - The company organized consumption poverty alleviation activities, purchasing 20 tons of Dolan Tuguo and 20 tons of apricots to increase the income of disadvantaged groups[160] Corporate Governance - The company has established a robust corporate governance structure to ensure compliance and protect shareholder rights, with clear responsibilities among the board and management[105] - The company held a total of 5 extraordinary general meetings and 1 annual general meeting during the reporting period, all of which were conducted legally and effectively[110] - The company has established an audit committee, which includes independent directors, to enhance oversight and accountability[132] Related Party Transactions - The company reported a total of 131,740.04 million RMB in related party transactions during the reporting period[175] - The company purchased raw materials, including thermal coal, from its largest shareholder, accounting for 58.21% of similar transactions, totaling 17,410.99 million RMB[172] - The company has established pricing principles for related party transactions based on market prices, ensuring fair and transparent dealings[173] Risk Management - The company faces market risks due to potential economic fluctuations affecting demand for aluminum products, and plans to enhance product competitiveness through cost reduction and marketing strategies[103] - The company is exposed to commodity price risks, particularly in aluminum pricing, and will engage in hedging and product structure adjustments to mitigate impacts on profitability[103]