xuefeng Sci-Tech(group)(SH:603227)2022-03-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥2,606,084,857.41, an increase of 26.07% compared to ¥2,067,139,794.70 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥146,128,668.93, representing a 35.94% increase from ¥107,492,502.73 in 2020[23]. - The net profit after deducting non-recurring gains and losses was ¥118,407,092.93, up 29.91% from ¥91,143,991.49 in 2020[23]. - The net cash flow from operating activities increased by ¥2,655,363.41 to ¥161,369,466.27 in 2021, compared to ¥158,714,102.86 in 2020[28]. - The company's total assets at the end of 2021 were ¥4,219,125,994.01, a 7.24% increase from ¥3,934,190,901.24 at the end of 2020[23]. - The basic earnings per share for 2021 was ¥0.203, a 24.54% increase from ¥0.163 in 2020[24]. - The weighted average return on equity for 2021 was 9.43%, an increase of 1.13 percentage points from 8.30% in 2020[27]. - The total profit for the year reached 248 million RMB, representing a year-on-year growth of 25.93%[44]. - The company achieved an operating revenue of 2.606 billion RMB and a net profit attributable to shareholders of 146 million RMB, marking historical highs for key indicators[42]. Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[8]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders and their affiliates[8]. - The company has not violated decision-making procedures for providing guarantees[8]. - The company has outlined various risks and countermeasures in the report, which can be found in the management discussion section[8]. - The company has not faced any major operational risks during the reporting period[8]. - The company is facing potential risks from raw material price fluctuations, particularly ammonium nitrate, which could impact profitability[187]. Corporate Governance - The company has received a standard unqualified audit report from Dahua Certified Public Accountants[5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company’s financial report has been declared true, accurate, and complete by its responsible persons[5]. - The supervisory board consists of 3 members, including 2 shareholder representatives and 1 employee representative, complying with legal regulations and the company's articles of association[197]. - The management team is committed to modern management practices, ensuring efficient organizational structure and fulfilling their responsibilities to protect the interests of shareholders[197]. - The company emphasizes transparency and has established a dedicated team for information disclosure, complying with the requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange[197]. - The company respects the rights of stakeholders and maintains a balance of interests among shareholders, employees, and society, adhering to legal regulations since its establishment[198]. - The controlling shareholder has provided a commitment to ensure the independence of the company in terms of personnel, assets, finance, and operations, which has been in effect since July 2016[200]. Investment and Expansion - The company completed the acquisition of 66% of Xinjiang Bazhou Wanfang Material Industry Co., Ltd., which positively impacted the financial results in 2021[33]. - The company launched its LNG project, marking a significant breakthrough in the new energy sector, with sales of 14,779.10 tons of LNG contributing to revenue growth[67]. - The company completed significant non-equity investments totaling CNY 331.10 million during the reporting period[172]. - The investment in the Snow Peak Technology R&D Center reached CNY 51.84 million, with a total investment of CNY 293.89 million, achieving 95% of the planned completion[172]. - The company increased its stake in Sha Ya Feng He Energy Co., Ltd. to 55% by investing CNY 81.60 million[168]. - The acquisition of 66% equity in Xinjiang Bazhou Wanfang Material Industry Co., Ltd. was completed for CNY 127.49 million[168]. - The company acquired an additional 8.1449% equity in Xinjiang Snow Peak Blasting Engineering Co., Ltd. for CNY 26.45 million, making it a wholly-owned subsidiary[168]. Research and Development - The company filed 24 technology patents during the reporting period, including 4 invention patents and 17 utility model patents[57]. - The company has established a technology innovation system focusing on research and development in civil explosives, with 46 valid intellectual property rights, including 12 invention patents[120]. - The company is committed to increasing R&D investment and cultivating high-end talent to enhance technological innovation mechanisms[120]. - Total R&D investment was 24.60 million yuan, accounting for 0.94% of operating revenue, with 64.30% of the R&D costs capitalized[93]. - The company has 81 R&D personnel, representing 2.70% of the total workforce[94]. Production and Capacity - The company reported an industrial explosive production capacity of 107,500 tons with a utilization rate of 90.04%[157]. - The company completed the construction of a production system for 26,500 tons of onsite mixed emulsified explosives, enhancing its market share in the mixed explosives sector[58]. - The company added a production capacity of 7.4 million digital electronic detonators and established a new facility with an annual production capacity of 26,500 tons of onsite mixed latex-based explosives[44]. - The production volume of explosives was 96,798 tons, reflecting a year-over-year increase of 9.94%, while the sales volume increased by 11.63% to 97,613 tons[73]. Market Performance - The company’s explosive service revenue surpassed 30 billion RMB, reflecting a nearly 20% year-on-year growth[46]. - The company reported a revenue of 2.606 billion RMB, an increase of 26.07% compared to the previous year[61]. - The revenue from blasting services was CNY 1,471.44 million, with a year-on-year increase of 29.52%[163]. - The revenue from the cable segment was CNY 14,494.26 million, showing a significant year-over-year increase of 21.89%, and the gross margin improved by 11.83 percentage points to 32.31%[71]. - The company's revenue from explosives reached CNY 31,423.66 million, with a year-over-year increase of 4.40%, while the gross margin decreased by 6.90 percentage points to 44.22%[71]. Safety and Compliance - The company implemented a safety production planning framework, focusing on risk management and accident prevention[44]. - The company is addressing safety risks by enhancing safety measures and utilizing digital technologies to improve production line safety[187]. - The company is implementing the "Industrial Internet + Safety Production" project to enhance safety production supervision across the entire industry chain, improving real-time monitoring capabilities[122].