NBOND(SH:603238)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,519,457,858.12, a decrease of 24.40% compared to CNY 2,009,936,921.40 in 2020[21] - The net profit attributable to shareholders for 2021 was CNY 96,614,229.97, down 63.79% from CNY 266,808,448.27 in 2020[21] - The basic earnings per share for 2021 was CNY 0.55, a decline of 64.05% compared to CNY 1.53 in 2020[22] - The net profit after deducting non-recurring gains and losses was CNY 85,464,913.12 for 2021, a decrease of 67.03% from CNY 259,222,212.22 in 2020[21] - The diluted earnings per share for 2021 was CNY 0.54, down 64.71% from CNY 1.53 in 2020[22] - The company's total assets at the end of 2021 were CNY 2,201,012,577.03, a decrease of 3.92% from CNY 2,290,859,682.95 at the end of 2020[21] - The net cash flow from operating activities for 2021 was CNY 194,332,041.81, down 64.86% from CNY 553,045,951.96 in 2020[21] - The weighted average return on equity for 2021 was 8.12%, a decrease of 18.38 percentage points from 26.50% in 2020[22] Production and Capacity - The company completed the construction of a digital intelligent warehousing center, achieving full digital operation from raw material storage to product delivery[29] - Two new production lines (Line 11 and Line 12) were put into operation in the second half of the year, significantly increasing the company's production capacity[30] - The company has a production capacity of nearly 80,000 tons per year, with eleven water-jet production lines, leading in the domestic non-woven materials industry[42] - The sales volume of water-jet non-woven materials was 44,095,948.65 kg, a decrease of 1.05% year-on-year[50] Research and Development - The company holds a total of 165 patents, including 52 invention patents, emphasizing its commitment to product research and development[30] - The company’s R&D expenses were CNY 58,306,798.37, a decrease of 14.70% compared to the previous year, reflecting adjustments in some R&D projects[48] - The number of R&D personnel is 135, making up 10.19% of the total workforce[58] - The company is committed to increasing its investment in research and development to drive innovation and industry disruption[69] Market and Sales - The company achieved operating revenue of CNY 1,519,457,858.12, a decrease of 24.40% compared to the previous year[45] - The company’s marketing team has shown rapid growth in overseas sales, leveraging professional knowledge and international marketing experience[44] - The top five customers contributed sales of 410.63 million yuan, accounting for 27.22% of total annual sales[54] - The company is actively pursuing market expansion strategies, targeting Southeast Asia with an expected investment of 200 million over the next two years[82] Environmental Responsibility - The company is recognized as a key wastewater monitoring enterprise in Zhejiang Province, emphasizing its commitment to environmental protection[113] - The company has achieved various environmental management certifications, including ISO 9001 and ISO 14001, and has received accolades such as the National Textile Industry Energy Conservation and Emission Reduction Technology Application Demonstration Enterprise[113] - The company has implemented a water reuse treatment system that processes wastewater to meet municipal discharge standards, ensuring compliance with environmental regulations[115] Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholder[73] - The independent directors did not hold any shares during the reporting period, indicating a focus on governance[79] - The company has not encountered any significant changes in competition from controlling shareholders or actual controllers[74] - The company has a structured performance evaluation and incentive mechanism for senior management, approved by the board of directors[109] Financial Management - The company has committed RMB 100 million to entrusted financial management, with an outstanding balance of RMB 40 million and no overdue amounts[151] - The total remuneration for directors and senior management during the reporting period amounted to 421.66 million yuan[79] - The company has a clear and transparent cash dividend policy that aligns with its articles of association and shareholder resolutions[106] Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 25% driven by new product launches and market expansion[82] - Future guidance includes an expected EBITDA margin improvement of 5% as operational efficiencies are realized[82] - The company aims to transform from a non-woven fabric processor to a manufacturer of non-woven products, focusing on high-end medical care and daily health industries[69]