AKL(SH:603722)2022-03-31 16:00Financial Performance - The company's operating revenue for 2021 was RMB 880,230,613.67, representing a 63.60% increase compared to RMB 538,046,840.26 in 2020 [21]. - The net profit attributable to shareholders for 2021 was RMB 100,436,604.25, a 93.97% increase from RMB 51,778,171.85 in the previous year [21]. - The net cash flow from operating activities reached RMB 150,058,924.56, marking a significant increase of 201.54% compared to RMB 49,764,782.27 in 2020 [21]. - The total assets of the company at the end of 2021 were RMB 884,501,858.77, up 17.27% from RMB 754,229,129.74 at the end of 2020 [21]. - The basic earnings per share for 2021 were RMB 1.15, a 94.92% increase from RMB 0.59 in 2020 [22]. - The weighted average return on equity for 2021 was 16.43%, an increase of 7.16 percentage points from 9.27% in 2020 [22]. - The company's net assets attributable to shareholders at the end of 2021 were RMB 661,020,143.71, reflecting a 13.88% increase from RMB 580,453,914.17 at the end of 2020 [21]. - The net profit attributable to shareholders increased by 93.97% year-on-year, primarily due to increased product sales and gross profit [23]. - The net cash flow from operating activities grew by 201.54% year-on-year, driven by higher product prices and increased sales volume [23]. Dividend Policy - The company plans to distribute a cash dividend of 3.5 CNY per 10 shares to all shareholders from the audited net profit of 2021 after allocating 10% to statutory surplus reserves [5]. - The company aims for a minimum cash dividend proportion of 80% for mature stages without major capital expenditure plans [157]. - The company has a cash dividend policy prioritizing sustainable returns to investors, with a minimum cash dividend ratio of 20% of the distributable profit [156]. - The company has a policy to ensure that the annual distributable profit is positive before declaring dividends [155]. Corporate Governance - The board of directors guarantees the truthfulness and completeness of the annual report, with no false records or misleading statements [7]. - The company has received a standard unqualified audit report from the accounting firm, ensuring the financial report's authenticity and completeness [4]. - There are no non-operating fund occupations by controlling shareholders or related parties, ensuring financial integrity [7]. - The company has not violated decision-making procedures in providing guarantees, maintaining compliance with regulations [8]. - The company has established effective management controls over its subsidiaries, enhancing overall operational efficiency and risk management [168]. - The company has implemented measures to maintain independence from its controlling shareholders, ensuring asset and operational autonomy [130]. - The company has a board of directors consisting of 8 members, including 3 independent directors, ensuring compliance with relevant laws and regulations [127]. - The supervisory board has 3 members, including 1 employee representative, effectively overseeing the company's financial practices and management compliance [128]. Research and Development - The company focuses on product research and development, technological innovation, and green production practices [34]. - The company has established a postdoctoral workstation and a graduate student workstation to foster talent collaboration with universities, supporting ongoing technological innovation [46]. - The company holds 19 authorized national invention patents and has applied for an additional 18, showcasing its commitment to innovation [47]. - The company has introduced a new research project on the development of epoxy bornyl acetate, which is significant for applications in pharmaceuticals and coatings [86]. - The company aims to enhance existing product quality and develop high-value, high-tech new products to align with market trends [83]. Market Position and Strategy - The company is positioned to benefit from the "carbon peak and carbon neutrality" policy initiatives [34]. - The company has established itself as a leading technology enterprise in the production of polyether amines and other chemical new materials [35]. - The company is actively expanding its market presence in North America and Europe, with a focus on diversifying its product offerings [41]. - The company is expected to play a significant role in the domestic market for polyether amines, given its technological leadership and market position [77]. - The company has a leading position in the domestic market, leveraging its comprehensive technology chain to create barriers for new entrants [48]. Environmental Compliance - The company has not encountered any major environmental violations or penalties during the reporting period, adhering to relevant environmental laws [173]. - The company has implemented a self-monitoring plan for environmental emissions, with all monitoring results meeting the required standards [181]. - The company has maintained compliance with national and local pollutant discharge standards, with no exceedances reported for wastewater, waste gas, or noise emissions [176]. - The company invested 1.3 million yuan in 2021 to upgrade the incinerator, replacing the rotary kiln with a new thermal oxidation system to improve high-concentration waste gas treatment efficiency [182]. Risk Management - The company emphasizes safety management in its large-scale production processes to mitigate risks of operational disruptions [124]. - The company faces risks from fluctuations in raw material prices, which could impact profit margins and operational stability [122]. - Increased environmental regulations may lead to higher operational costs, impacting the company's performance if compliance is not met [124]. Shareholder Engagement - The company has established a robust investor relations management system to protect shareholders' legal rights and actively engages with investors [184]. - The company held multiple shareholder meetings throughout 2021, approving various proposals including annual reports and investment agreements [130]. - The company is in the process of signing an investment agreement with the Taixing Economic Development Zone Management Committee [130]. Financial Management - The company has a comprehensive decision-making process for adjusting profit distribution policies, requiring approval from the board and shareholders [162]. - The company has not reported any significant accounting errors that required correction during the reporting period [195]. - The company has not engaged in any related party transactions that would compromise its interests [194].