YUANLI(SH:603217)2022-03-17 16:00Financial Performance - The company achieved a net profit attributable to the parent company of CNY 360,110,935.64 in 2021, with a proposed cash dividend of CNY 8.00 per 10 shares, totaling CNY 104,103,200.00, which accounts for 28.91% of the net profit [4]. - The company's operating revenue for 2021 was CNY 2,343,456,847.04, representing a 91.77% increase compared to CNY 1,222,028,754.67 in 2020 [23]. - The net profit attributable to shareholders for 2021 was CNY 360,110,935.64, a 128.22% increase from CNY 157,791,808.17 in 2020 [23]. - The basic earnings per share for 2021 was CNY 2.83, up 128.23% from CNY 1.24 in 2020 [25]. - The company's total assets increased by 20.13% to CNY 3,072,594,755.90 at the end of 2021, compared to CNY 2,557,738,163.49 at the end of 2020 [24]. - The net cash flow from operating activities for 2021 was CNY 162,830,380.84, a 4.30% increase from CNY 156,111,144.52 in 2020 [24]. - The company achieved a weighted average return on equity of 14.91% in 2021, an increase of 7.75 percentage points from 7.16% in 2020 [25]. - The net profit after deducting non-recurring gains and losses was CNY 341,772,679.27 for 2021, a 140.63% increase from CNY 142,032,648.54 in 2020 [24]. Capital and Investment - The company plans to increase its total share capital from 130,129,000 shares to 208,206,400 shares through a capital reserve transfer of 6 shares for every 10 shares held [5]. - The company has initiated several investment projects, including a 30,000-ton 1,6-hexanediol project, which are in the early stages of development [6]. - The company is actively expanding its production capacity, with projects such as the annual production of 2,000 tons of polycarbonate diol and 60,000 tons of multifunctional environmentally friendly plasticizers already under construction [6]. - The company aims to retain sufficient funds for self-development to support ongoing projects and reduce financial costs, indicating a focus on sustainable growth [6]. - The retained earnings at the end of 2021 will be used for core business operations, R&D investments, and project construction, enhancing the company's competitive edge and profitability [7]. Product Development and Market Strategy - The company is committed to diversifying and refining its product structure, particularly in the dicarboxylic acid industry chain, to meet market demands [5]. - The company aims to enhance its product chain and layout through independent research and technological innovation [32]. - The company is committed to becoming a world-class fine chemical new materials company, focusing on high-quality products and sustainable development [32]. - The company has developed a diversified product line, including dimethyl succinate, fatty alcohols, and special plasticizers, with high market shares in each category [34]. - The company plans to continue expanding its product offerings and enhancing its technological capabilities through partnerships with academic institutions [36]. Operational Efficiency and Risk Management - The company has no significant risks affecting normal operations during the reporting period, indicating a stable business environment [10]. - The company emphasizes the importance of maintaining a balance between shareholder returns and funding for future growth initiatives [7]. - The company has established a collaborative development model for the dicarboxylic acid industry chain, enhancing supply chain stability and cost advantages [69]. - The company is exposed to exchange rate fluctuations that could impact its export business and overall profitability [94]. - The company has a structured approach to risk management, enhancing operational efficiency and resilience against potential risks [135]. Environmental and Safety Compliance - The company emphasizes environmental protection and safety production, ensuring compliance with regulations and enhancing its operational stability [94]. - The company has implemented a waste management plan that adheres to national standards for hazardous waste disposal, ensuring compliance and environmental safety [140]. - The wastewater treatment process has been upgraded, achieving zero discharge by recycling treated water for internal use, meeting the required quality standards [141]. - The company has conducted emergency drills for hazardous chemical leaks, enhancing its emergency response capabilities [150]. - No environmental pollution incidents were reported during the reporting period, demonstrating the company's commitment to environmental responsibility [152]. Governance and Management - The company held three shareholder meetings during the reporting period, ensuring compliance with governance standards and equal treatment of all shareholders [97]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements [98]. - The company has established information disclosure and investor relations management systems to ensure accurate and timely information dissemination [99]. - The company has a structured decision-making process for the remuneration of directors and senior management, based on comprehensive evaluation results [110]. - The company has maintained a consistent approach to governance and management practices, ensuring alignment with shareholder interests [110]. Employee and Human Resource Management - The company has a total of 779 employees, with 516 in the parent company and 263 in major subsidiaries [123]. - The workforce includes 525 production personnel, 36 sales personnel, 131 technical personnel, 19 financial personnel, and 68 administrative personnel [124]. - The company implements a comprehensive training program for employees across various levels and functions to enhance skills and management capabilities [126]. - The company has established a salary policy linked to performance, with compensation tied to overall company performance [125]. Shareholder and Equity Management - The company has a cash dividend policy that mandates a minimum of 15% of the distributable profits to be distributed in cash when there are no major investment plans or cash expenditures [128]. - The company has confirmed an equity incentive cost of RMB 3,318,529.50, which is included in other capital reserves [194]. - The largest shareholder, Liu Xiuhua, holds 75,039,751 shares, representing 57.67% of the total shares [197]. - The company reported a total of 2,673,000 restricted shares granted to incentive targets, increasing the total share capital to 130,129,000 shares [190]. - The company has engaged Tianzhi International Accounting Firm for the 2021 audit, with a remuneration of RMB 800,000, marking the seventh consecutive year of service [174].