INTCO RECYCLING(SH:688087)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 reached ¥1,990,054,054.83, representing a 17.14% increase compared to ¥1,698,929,481.90 in 2020[23]. - The net profit attributable to shareholders was ¥239,775,770.54, up 10.35% from ¥217,278,098.22 in the previous year[23]. - The net profit after deducting non-recurring gains and losses increased by 79.11% to ¥224,260,043.81 from ¥125,208,764.60 in 2020[23]. - The net cash flow from operating activities was ¥281,794,390.36, a 28.59% increase from ¥219,143,567.35 in 2020[23]. - As of the end of 2021, the total assets amounted to ¥2,224,461,570.23, reflecting a 66.49% increase from ¥1,336,077,693.73 in 2020[23]. - The net assets attributable to shareholders increased by 91.40% to ¥1,850,472,718.59 from ¥966,804,202.92 at the end of 2020[23]. - The basic earnings per share (EPS) after deducting non-recurring gains and losses was 1.97 RMB, up 56.35% year-on-year[25]. - The weighted average return on equity (ROE) decreased by 7.79 percentage points to 17.71%[24]. - The company achieved a total revenue of approximately RMB 140.7 million, with a net profit of RMB 96.68 million, reflecting a significant increase compared to the previous year's figures[125]. Dividend and Share Capital - The company plans to distribute cash dividends of RMB 2.00 per 10 shares, totaling approximately RMB 26.61 million, which represents 11.10% of the net profit attributable to shareholders for the year 2021[6]. - As of December 31, 2021, the total share capital of the company was 133,032,493 shares[6]. - The company has not proposed any plans for bonus shares or capital reserve transfers for the year 2021[6]. Audit and Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company has not experienced any situations where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report[9]. - The company has not disclosed any special arrangements for corporate governance[9]. Risk Management - The company has detailed various risks and countermeasures in its report, urging investors to pay attention to investment risks[4]. - The company plans to enhance its risk management mechanisms to address potential currency fluctuations and tax policy changes[149]. - The company faces risks related to high overseas sales revenue, particularly from the U.S., where trade policy changes could adversely affect export business[141]. - The company is exposed to market competition risks, necessitating continuous improvement in core technology and product development to maintain market share[142]. - Fluctuations in raw material prices, particularly for PS foam and regenerated PS particles, could significantly impact the company's operating performance[145]. - The company must ensure effective quality control as customer demands for product quality increase, which is critical for maintaining reputation and market expansion[147]. Research and Development - Research and development (R&D) expenses accounted for 4.86% of operating revenue, an increase of 0.35 percentage points[24]. - The total R&D investment for the year was approximately ¥96.68 million, representing a 26.10% increase compared to the previous year, with R&D expenses accounting for 4.86% of operating income[121]. - The company has accumulated a total of 1,420 research and development achievements, including patents and software copyrights, and has established a comprehensive PS plastic recycling technology system[45]. - The company has established a comprehensive R&D system focused on innovative research and development in the plastic recycling industry, with dedicated teams for product, process, and equipment development[67]. - The company’s R&D projects are categorized by content and complexity, allowing for targeted innovation in response to market demands[67]. - The number of R&D personnel increased to 376, representing 14.7% of the total workforce, up from 10.24% in the previous year[128]. Market and Product Development - The company is focused on expanding its recycling capabilities and enhancing its product offerings in the plastic recycling sector[16]. - The company aims to strengthen its position in the circular economy by increasing the use of recycled materials in its products[16]. - The company successfully launched new products and expanded into new markets, contributing to record high revenue and net profit[35]. - The company expanded its product offerings, achieving a 28.35% year-on-year increase in revenue from terminal products, including new products like 3D grid panels and embossed wall panels[39]. - The company is currently implementing a 50,000 tons/year PET recycling project in Malaysia, which is in the equipment installation and customer negotiation phase[53]. - The company is positioned to accelerate its growth as a leading high-tech manufacturer in resource recycling, following its successful listing on the Sci-Tech Innovation Board[35]. - The company is committed to ESG principles, engaging in various social responsibility initiatives and educational outreach programs[49]. Production and Operations - The company operates six production bases globally, with a focus on enhancing production efficiency and maintaining normal operations despite pandemic challenges[47]. - The company is advancing its "automation of equipment and information" initiatives to improve production efficiency and reduce costs[44]. - The production model includes both customized and standardized products, with a focus on "sales-driven production" for customized items and "market forecasting + safety stock" for standardized products[69]. - The company has established a global recycling network for renewable plastics, collaborating with domestic and international recycling points to enhance efficiency and reduce transportation costs[78]. - The company has developed advanced production technologies for recycled plastic, enhancing its competitive edge in the industry[132]. Management and Leadership - The management team has a high level of stability, with most members having over 10 years of tenure, ensuring high decision-making efficiency and execution capability[136]. - The company has maintained a stable leadership structure with no significant changes in key management positions during the reporting period[198]. - The company is committed to innovation and has a strong focus on research and development in new technologies[196]. - The leadership's experience spans over several decades, ensuring continuity and stability in the company's operations[196]. Compensation and Shareholding - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 6.488 million CNY[194]. - The highest compensation was received by the General Manager, Jin Zhe, totaling 1.8715 million CNY[194]. - The total number of shares held by the board members and senior management at the beginning and end of the year was not disclosed[194].