Maysta Chemical(SH:603041)2022-04-29 16:00Financial Performance - In 2021, the company's operating revenue reached CNY 494.96 million, an increase of 27.06% compared to CNY 389.55 million in 2020[20]. - The net profit attributable to shareholders decreased by 42.49% to CNY 63.82 million from CNY 110.97 million in 2020[20]. - The basic earnings per share fell to CNY 0.45, down 43.04% from CNY 0.79 in 2020[21]. - The weighted average return on equity decreased by 6.17 percentage points to 7.07% from 13.24% in 2020[21]. - The net cash flow from operating activities was CNY 78.56 million, a decline of 23.92% from CNY 103.25 million in 2020[20]. - The total assets increased by 8.01% to CNY 1,079.82 million at the end of 2021, compared to CNY 999.74 million at the end of 2020[20]. - The gross profit margin decreased by 14.37 percentage points compared to the previous year[67]. - The company achieved total revenue of CNY 494,955,740.71, a year-on-year increase of 27.06%, with new products significantly contributing to this growth[31]. - The net profit attributable to shareholders was CNY 63,816,103.25, a decrease of 42.49% year-on-year, primarily due to rising raw material costs and increased shipping fees[31]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.10 per 10 shares, totaling RMB 20,146,246.12, with a cash dividend payout ratio of 31.57%[6]. - The company distributed a cash dividend of CNY 2.40 per 10 shares (including tax) for the 2020 fiscal year, totaling CNY 33,815,913.60 (including tax)[183]. - The company has established a three-year shareholder return plan (2021-2023) that outlines the conditions and ratios for cash dividends[182]. - The profit distribution policy is compliant with the company's articles of association and includes clear standards and ratios for dividends[186]. - The decision-making process for adjusting the profit distribution policy involves gathering opinions from minority shareholders and requires approval from the board and shareholders' meeting[185]. Research and Development - The company successfully developed and industrialized 19 new products during the reporting period, enhancing its market competitiveness and supporting sustained business growth[32]. - The company applied for 14 invention patents and 1 utility model patent, with 5 invention patents and 1 utility model patent granted during the reporting period, bringing the total to 21 authorized patents[33]. - The company’s R&D team comprises over one-third of its total workforce, focusing on developing proprietary products and technologies, which has led to numerous patents and industry recognition[58]. - The company’s R&D expenses rose by 5.89% to CNY 22,174,402.12, reflecting ongoing investment in product development[68]. - The company is committed to developing new types of environmentally friendly foaming agents and key additives to meet the urgent need for ODS alternatives in the polyurethane industry[44]. Market and Competitive Position - The company is positioned in the chemical raw materials and chemical products manufacturing industry, with a focus on polyurethane foam stabilizers[92][95]. - The company’s market share in the polyurethane foam stabilizer sector is among the top in the industry, reflecting its strong brand influence and customer resource advantages[97]. - The company is actively promoting the localization of key polyurethane additives, aiming for high-quality and sustainable development to enhance its global competitiveness[42]. - The company is targeting the high-end polyurethane specialty chemicals market, developing high-performance and high-value-added polyurethane additives[128]. - The company is enhancing its global operations and supply chain through overseas investments and acquisitions to improve talent acquisition, technology response, and product market launch capabilities[130]. Risk Management - The company has identified risks related to raw material price fluctuations, exchange rate fluctuations, safety and environmental risks, and investment risks in new projects[10]. - The company is facing five major challenges in the chemical industry, including risks from pandemic control and increased protectionism, as well as pressure from domestic economic downturns[121]. - The company faces risks from raw material price fluctuations, particularly for key materials like organic silicon monomer and polyols, which could impact production costs and profit margins[135]. - The company is exposed to exchange rate fluctuations due to its international sales, primarily denominated in USD and EUR, which can affect competitiveness and financial performance[136]. Corporate Governance - The company has maintained strict compliance with information disclosure regulations, ensuring timely and accurate reporting to protect investor interests[148]. - The board of directors strictly adheres to the election procedures as per the Company Law and Securities Law, ensuring compliance with legal requirements[146]. - The supervisory board operates in accordance with the Company Law and has effectively supervised the board of directors and senior management, safeguarding shareholder interests[147]. - The company emphasizes investor relations management, actively engaging with investors through various channels to gather feedback on operations and future development[149]. - The company has established specialized committees under the board to enhance decision-making and oversight efficiency[146]. Environmental Responsibility - The company’s wastewater treatment facilities are operating normally, ensuring compliance with the Jiangsu Province discharge standards for chemical industry water pollutants[200]. - The company has implemented a three-stage condensation and water absorption system for treating production exhaust, ensuring compliance with volatile organic compound emission standards[200]. - The company’s environmental protection measures include regular monitoring and compliance with local environmental regulations[200]. - The company has established a comprehensive pollution prevention and control system to manage its environmental impact effectively[200]. - The company has not reported any exceedances in its wastewater discharge limits during the reporting period[198]. Strategic Initiatives - The company plans to invest 120 million RMB in the construction of the "Polyurethane Additives Engineering Technology Center" project[116]. - The company aims to achieve a strategic shift from a single additive supplier to a multi-additive and solution provider, enhancing its international competitiveness[124]. - The company is focusing on diversifying its market presence and product offerings to mitigate risks from geopolitical tensions and trade conflicts[139]. - The company is committed to enhancing its safety and environmental management systems to prevent accidents and comply with national regulations[137]. - The company is actively monitoring market trends to adapt its business strategies accordingly, ensuring competitiveness in the industry[155].