HWASU(SH:600935)2022-03-30 16:00Financial Performance - The company's operating revenue for 2021 was ¥6,739,223,586.39, representing a year-on-year increase of 32.65% due to rising prices of main products[23]. - The net profit attributable to shareholders of the listed company was ¥785,436,195.17, an increase of 28.03% compared to the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥812,065,634.56, up 34.86% year-on-year, primarily due to increased product prices and reduced interest expenses from decreased bank borrowings[23]. - The net cash flow from operating activities was ¥1,232,685,823.49, reflecting a 5.01% increase from the previous year[23]. - The net assets attributable to shareholders of the listed company at the end of 2021 were ¥6,315,934,703.89, a 53.15% increase compared to the end of 2020[23]. - Total assets at the end of 2021 amounted to ¥9,125,739,530.07, representing an 8.40% increase from the previous year[23]. - Basic earnings per share for 2021 was CNY 0.25, representing a 25.00% increase compared to CNY 0.20 in 2020[27]. - The weighted average return on net assets increased by 0.82 percentage points to 16.95% in 2021 from 16.13% in 2020[27]. - Total operating income for Q4 2021 reached CNY 2,158,692,573.70, with a net profit attributable to shareholders of CNY 200,341,110.39[28]. - The company reported a significant increase in the net profit after deducting non-recurring gains and losses, reaching CNY 221,892,281.50 in Q4 2021[28]. Dividend and Shareholder Returns - The company plans to distribute cash dividends of ¥0.79 per 10 shares, totaling approximately ¥277,084,743.15, which accounts for 35.28% of the net profit attributable to shareholders[6]. - The company does not plan to issue bonus shares or convert capital reserves into share capital this year[6]. - The company has not made any changes to its cash dividend policy during the reporting period[159]. Operational Efficiency and Cost Management - The company implemented a focus on cost control and efficiency improvement, establishing a cost model to enhance operational performance[35]. - The company reported a significant increase in labor costs, with a rise of 19.21% in the basic industry sector[59]. - The company has optimized its wage structure to enhance productivity, focusing on market-oriented wages for operational and safety roles[154]. - The company employs a "production based on sales" model, ensuring efficient production management[88]. Production and Capacity - The company primarily engages in the production and sales of chlor-alkali chemical products, focusing on PVC and caustic soda, with a comprehensive circular economy system established[40]. - PVC production capacity is 640,000 tons, with an output of 577,324.25 tons, achieving a capacity utilization rate of 90.21% and sales revenue of 460,302.75 thousand yuan[46]. - Caustic soda production capacity is 480,000 tons, with an output of 430,661.6 tons, achieving a capacity utilization rate of 89.72% and sales revenue of 86,795.14 thousand yuan[46]. - The company has an annual production capacity of 640,000 tons of PVC and 480,000 tons of caustic soda, positioning it among the top in the industry[51]. Environmental and Sustainability Initiatives - The company is actively pursuing green and low-carbon development strategies in line with national "dual carbon" goals[35]. - The company has invested significantly in environmental upgrades, implementing clean production practices to achieve compliance with emission standards[167]. - The company has achieved a dust removal efficiency of 99.95%, nitrogen oxide removal efficiency of 90%, and sulfur dioxide removal efficiency of 98.1% in its coal-fired power generation operations[171]. - The company is committed to building an eco-friendly enterprise, aligning with national environmental protection policies[167]. - The company has implemented a comprehensive carbon management system, including energy management, carbon emission tracking, and trading, to reduce carbon emissions effectively[178]. Research and Development - In 2021, the company invested CNY 230 million in R&D, with 14 projects and 9 invention patents obtained[93]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing production efficiency[130]. - Research and development expenditures increased by 30%, totaling 150 million CNY, to support new technology initiatives[139]. Strategic Planning and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[60]. - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for the next quarter, representing a 25% increase compared to the current quarter[130]. - The company is focused on expanding its chlor-alkali chemical industry while enhancing its fine chemicals and new materials sectors[111]. Governance and Management - The company held one annual general meeting and one extraordinary general meeting during the reporting period, with no rejected resolutions or changes to previous resolutions[121]. - The total pre-tax remuneration for directors, supervisors, and senior management in 2021 amounted to CNY 986.14 million[125]. - The company approved the financial budget report for 2021 during the board meeting on March 22, 2021[143]. Risk Management - There were no significant risks affecting the company's operations during the reporting period[8]. - The company faces risks from macroeconomic uncertainties, including potential impacts on exports and imports due to global trade tensions[115]. - The company is subject to stricter industry policies and environmental regulations, which may increase operational costs[115].