NCFC(SH:600889)2022-03-30 16:00Financial Performance - The company's operating revenue for 2021 was ¥469,635,934.59, representing a 28.33% increase compared to ¥365,967,191.74 in 2020[20] - The net profit attributable to shareholders for 2021 was -¥164,710,719.26, a decrease of 1593.24% from a profit of ¥11,030,446.01 in 2020[21] - The net cash flow from operating activities was -¥88,943,868.42 in 2021, a decline of 264.52% compared to ¥54,063,473.82 in 2020[21] - The total assets at the end of 2021 were ¥2,111,754,822.99, down 8.56% from ¥2,309,365,617.27 at the end of 2020[21] - The company's net assets attributable to shareholders decreased by 12.24% to ¥1,229,214,837.77 at the end of 2021 from ¥1,400,683,102.40 at the end of 2020[21] - The revenue after deducting non-main business income for 2021 was ¥442,788,359.09, which is a 36.21% increase from ¥325,077,327.48 in 2020[20] - The basic earnings per share for 2021 was -0.45 CNY, a decrease of 1,600% compared to 0.03 CNY in 2020[22] - The diluted earnings per share for 2021 was also -0.45 CNY, reflecting the same 1,600% decline from the previous year[22] Cash Flow and Investments - The cash flow from operating activities for the year was -79,903,428.94 CNY, indicating significant cash outflow[25] - Operating cash inflow decreased by 13.34% to ¥431.45 million, while operating cash outflow increased by 17.26% to ¥520.39 million, resulting in a net cash flow from operating activities of -¥88.94 million[54] - Investment cash inflow decreased by 28.05% to ¥456.43 million, and investment cash outflow increased by 6.10% to ¥538.23 million, leading to a net cash flow from investment activities of -¥81.80 million[54] - The company reported a significant increase in financing cash inflow by 386.05% to ¥135.08 million, primarily due to long-term loans[54] Production and Capacity - The company has a production capacity of 80,000 tons/year for viscose staple fiber as of the end of 2021[31] - The company has a production capacity of 80,000 tons/year for viscose short fibers and is constructing a new 100,000 tons/year lyocell fiber project, with the first phase of 40,000 tons expected to be operational by mid-2022[66] - The company completed the construction of the main engineering and supporting projects for the annual production of 40,000 tons of lyocell fiber, with equipment installation progressing well[35] - The company reported a significant increase in the production of viscose short fibers, with a production volume of 33,575.75 tons, reflecting a 10.15% increase year-over-year[45] Research and Development - The company established a new materials research institute to enhance R&D capabilities in eight key technology areas, including lyocell fiber production technology and flame-retardant PET foam materials[39] - R&D expenses increased significantly by 566.61% to 16.66 million RMB, reflecting higher investment in innovation and product development[42] - The company achieved a total R&D expenditure of ¥16.66 million, representing 3.55% of total revenue[51] - The company’s R&D efforts include the development of lyocell fiber production technology and energy-saving technologies[70] Market and Sales - The company reported a total revenue of 32,847.23 million RMB from domestic sales of viscose short fibers, representing a year-on-year increase of 24.56%[74] - The company achieved a revenue of 1,147.35 million RMB from domestic sales of viscose filament yarn, showing an increase from the previous year[74] - Domestic revenue amounted to ¥436.15 million, with a gross margin of 4.20%, indicating a 37.72% increase in revenue compared to the previous year[44] - The company’s foreign revenue was ¥6.64 million, with a gross margin of 31.10%, but experienced a year-over-year revenue decline of 20.85%[44] Governance and Compliance - The company has established a robust governance structure to ensure compliance and protect shareholder interests[86] - The company ensured compliance with the Shanghai Stock Exchange's disclosure rules, maintaining transparency and timely information release to all shareholders[88] - The company has not reported any major differences in governance compared to regulatory requirements[88] - The company has implemented measures to ensure the independence of its operations from its controlling shareholders[88] Environmental and Sustainability Efforts - The company is committed to green development and sustainable practices, focusing on biodegradable materials to address environmental concerns[84] - In 2021, the company reported zero emissions of major pollutants such as COD and ammonia nitrogen, adhering to environmental standards[124] - The company has maintained a zero exceedance record for wastewater and air emissions throughout 2021[125] - The company has established emergency response plans for environmental incidents, which have been reviewed and filed with environmental authorities[134] Risks and Challenges - The company recognizes the risk of product quality due to intense competition in the viscose fiber market, necessitating improvements in production quality[83] - The company faces a risk of reduced sales due to oversupply in the viscose fiber market, which may lead to price wars[83] - The company is addressing raw material risks, particularly the volatility in dissolving pulp prices, which significantly impacts profit margins[84] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 29,587, an increase from 28,673 at the end of the previous month[170] - The largest shareholder, Nanjing New Industry Investment Group, held 129,709,768 shares, accounting for 35.41% of the total shares[172] - The company has no changes in share capital structure during the reporting period[166] - There were no significant changes in the shareholding structure or the number of shares held by major shareholders[168]