Snowsky Salt(SH:600929)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥4.78 billion, representing a 35.19% increase compared to ¥3.54 billion in 2020[27]. - Net profit attributable to shareholders reached approximately ¥401.71 million, a significant increase of 109.29% from ¥191.94 million in the previous year[27]. - The basic earnings per share for 2021 was ¥0.2992, reflecting a growth of 107.92% compared to ¥0.1439 in 2020[31]. - The company achieved total revenue of CNY 4.78 billion, a year-on-year increase of 35.19%[75]. - Net profit attributable to shareholders reached CNY 402 million, up 109.29% year-on-year[75]. - Total assets increased to CNY 8.38 billion, reflecting an 8.79% growth compared to the previous year[75]. Profit Distribution - The proposed profit distribution plan for 2021 is to distribute RMB 2 per 10 shares, totaling RMB 270,034,060.40, which accounts for 67.22% of the net profit attributable to ordinary shareholders[6]. - The total number of shares for the profit distribution calculation is 1,350,170,302 shares as of March 31, 2022[6]. Acquisitions and Investments - The company completed a 100% acquisition of Chongqing Xiangyu Salt Chemical Co., which contributed to the increase in net profit and earnings per share[31]. - The company completed the acquisition of 100% equity in Xiangyu Salt Chemical for a transaction price of 1,927.89 million yuan, with a share issuance price of 4.63 yuan per share[126]. - The company completed the acquisition of 100% equity in Chongqing Xiangyu Salt Chemical Co., significantly enhancing its asset base and profitability[120]. Research and Development - Research and development expenses rose to 188 million RMB, a year-on-year increase of 84.3%[48]. - The company launched 40 new product series and over 240 varieties, enhancing its product matrix[48]. - R&D expenses rose by 82.48% to CNY 187.88 million, emphasizing the company's commitment to technological innovation[76]. - The number of R&D personnel is 772, making up 12.35% of the total workforce, indicating a strong focus on innovation[101]. Market Expansion and Sales - The company expanded its market presence by establishing 30 regional sales subsidiaries outside Hunan, increasing by 8 from 2020[47]. - The sales volume of high-end salt products increased by 54.1%, with a total of 57,000 tons sold[47]. - The company is actively expanding into international markets, including Southeast Asia and Africa, in line with the "Belt and Road" initiative[74]. - The company achieved total revenue from various types of salt amounting to CNY 2,095,702,726.67, with a year-on-year growth of 19.85%[117]. Operational Efficiency - The company has implemented an integrated financial and operational platform, enhancing operational efficiency and achieving significant cost savings through centralized management and lean practices[51]. - The company reported a 35.19% year-on-year increase in revenue per employee, reflecting improved productivity and operational effectiveness[51]. - The company has a total sodium chloride reserve of 1.315 billion tons and a mirabilite reserve of 333 million tons, ensuring a stable supply of brine for salt and salt chemical products[65]. Social Responsibility - The company donated 6 million yuan to support flood relief efforts in Henan and has helped 886 impoverished individuals escape poverty, demonstrating its commitment to social responsibility[51]. Strategic Goals - The company aims to achieve annual revenue of over 50 billion yuan and a profit of over 3.5 billion yuan by the end of the 14th Five-Year Plan[57]. - The company has set a strategic goal to transition from traditional salt production to a modern salt chemical industry cluster, enhancing overall competitiveness[135]. Governance and Compliance - The company has a governance structure that ensures compliance with laws and regulations, with a board of directors consisting of 9 members, including 3 independent directors[147]. - The supervisory board consists of 5 members, ensuring effective oversight of the company's operations and compliance with legal requirements[148]. - The company adheres to strict information disclosure practices, ensuring all shareholders have equal access to information[149]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year, aiming for 1.32 billion yuan[170]. - The company plans to enhance brand building through targeted media investments and partnerships, including being the official salt supplier for the Hangzhou Asian Games[138].