SDF(SH:605006)2022-03-29 16:00Financial Performance - In 2021, the company achieved a total operating revenue of CNY 2,748,634,492.61, representing a year-on-year increase of 37.72% compared to CNY 1,995,853,053.62 in 2020[21] - The net profit attributable to shareholders of the listed company reached CNY 546,029,413.15, a significant increase of 216.78% from CNY 172,371,155.63 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 527,773,577.51, up 228.30% from CNY 160,757,683.67 in 2020[21] - The net cash flow from operating activities was CNY 787,929,488.47, an increase of 74.91% compared to CNY 450,487,835.29 in the previous year[21] - As of the end of 2021, the total assets of the company amounted to CNY 5,081,713,285.41, reflecting a year-on-year growth of 12.06% from CNY 4,534,917,736.43[21] - The net assets attributable to shareholders of the listed company increased to CNY 2,358,147,639.90, a rise of 32.37% compared to CNY 1,781,461,060.29 at the end of 2020[21] Dividend and Capital Plans - The company plans to distribute a cash dividend of CNY 1.10 per 10 shares, totaling CNY 55,000,000.00, and will issue 2 additional shares for every 10 shares held, increasing the total share capital to 600,000,000 shares[5] - The company does not plan to increase capital through the conversion of surplus reserves into share capital for the 2021 fiscal year[5] Operational Highlights - In 2021, the company's operating revenue increased by 37.72% compared to 2020, reaching a significant growth driven by strong demand in downstream applications and substantial export growth in fiberglass products[22] - Basic earnings per share rose by 172.50% to CNY 1.09, with diluted earnings per share also at CNY 1.09, reflecting strong financial performance[22] - The weighted average return on equity increased to 26.58%, up from 11.71% in the previous year, indicating improved profitability[22] - The company actively adjusted its product structure and implemented lean management, leading to enhanced product quality and reduced costs[22] Industry and Market Trends - The production capacity of glass fiber yarn in China reached 6.24 million tons in 2021, with a year-on-year growth of 15.2%[36] - The production of electronic fabric products in China totaled approximately 806,000 tons in 2021, reflecting a year-on-year increase of 12.9%[40] - The total output of glass fiber reinforced composite materials in China was about 5.84 million tons in 2021, with a growth rate of 14.5%[42] - The export volume of glass fiber and products reached 1.683 million tons, a year-on-year increase of 26.6%, with export value rising by 49.3% to $3.058 billion[47] Research and Development - Research and development expenses increased by 28.06% to CNY 97,354.20 million, indicating a focus on innovation and product development[67] - The total R&D investment for the reporting period was CNY 97.35 million, representing 3.54% of the operating revenue[77] - The number of R&D personnel is 288, accounting for 10.44% of the total workforce[79] Environmental and Social Responsibility - The company is committed to achieving green and environmentally friendly production practices in response to increasing environmental concerns[95] - The company has implemented measures to ensure that all emissions are below regulatory standards, with no exceedances reported for key pollutants[148][149] - The company has established a youth platform for over 1,000 young employees, representing 34% of the workforce, to address social needs and promote community engagement[162] - The company is actively involved in rural revitalization efforts, having conducted over 360 visits to understand local needs and develop targeted support plans[164] Governance and Compliance - The company has established a modern corporate governance structure, ensuring compliance with relevant laws and regulations, and protecting shareholder rights[103] - The board of directors includes three independent directors, ensuring a balanced governance structure and reducing decision-making risks[104] - The company has established a comprehensive internal control system to enhance risk management and operational effectiveness, focusing on preemptive risk prevention and real-time monitoring[144] Future Outlook and Strategic Initiatives - The company aims to balance production capacity with market demand, seizing favorable market opportunities for growth[33] - The company plans to enhance its supply chain, strengthen production capabilities, and extend product lines to improve operational quality and market control[99] - The company is focusing on digital transformation to enhance operational efficiency and governance levels[99] - The company is exploring partnerships to enhance its research and development capabilities in the mining industry[110]