JINHONG GAS(SH:688106)2022-03-25 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,741,293,970.57, representing a 40.05% increase compared to ¥1,243,342,379.28 in 2020[32]. - The net profit attributable to shareholders for 2021 was ¥167,067,568.61, a decrease of 15.34% from ¥197,329,181.61 in 2020[32]. - The net cash flow from operating activities was ¥310,689,391.56, down 22.64% from ¥401,616,610.88 in 2020[32]. - The total assets at the end of 2021 were ¥4,157,944,958.50, a 20.33% increase from ¥3,455,309,995.35 at the end of 2020[35]. - The basic earnings per share for 2021 was ¥0.34, a decrease of 27.66% compared to ¥0.47 in 2020[36]. - The company's net assets attributable to shareholders decreased by 3.26% to ¥2,680,275,522.82 at the end of 2021 from ¥2,770,706,493.97 at the end of 2020[35]. - The company achieved operating revenue of CNY 1,741,293,970.57, a year-on-year increase of 40.05%[174]. - The net profit attributable to the parent company was CNY 16,706.76 million, a decrease of 15.34% from the previous year[174]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 2.50 CNY per 10 shares, totaling 121,083,350 CNY, which accounts for 72.48% of the net profit attributable to shareholders for 2021[7]. - The company has not proposed any capital reserve transfer to increase share capital for the year[7]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm[6]. - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has not faced any violations in decision-making procedures for external guarantees[11]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[11]. Research and Development - The R&D investment as a percentage of operating revenue increased to 4.01% in 2021 from 3.73% in 2020[36]. - Research and development expenses increased by 50.48% to 69.85 million yuan, focusing on specialty gas innovations, and the company was recognized as one of the "Top 100 Innovative Enterprises in Jiangsu Province"[57]. - The company applied for 38 invention patents and 28 utility model patents during the reporting period, with a total of 255 patents held as of December 31, 2021[57]. - The company has developed various ultra-high purity gases, achieving a total of 255 patents, including 43 invention patents, indicating a strong R&D capability[101]. - The company has established a stable R&D team and has mastered several core technologies in gas production, but faces risks if R&D directions fail or progress is slower than expected[161]. Market and Competitive Landscape - The global industrial gas market size was approximately $134.1 billion in 2020, with a projected growth rate of 8% leading to an estimated market size of $145.1 billion by 2021[82]. - China's industrial gas market size reached 162.6 billion yuan in 2020, with a compound annual growth rate of 14.77% from 2010 to 2020, and is expected to reach nearly 180 billion yuan by 2021[86]. - The company holds a market share of 2.73% in the domestic electronic specialty gas market, with the overall market size estimated at CNY 17.5 billion[170]. - The company is expected to face increased competition as global industrial gas companies establish a presence in China, necessitating resource integration and potential mergers and acquisitions[96]. Operational Challenges - The company faced increased operational costs due to ongoing commodity price pressures, impacting net profit margins[37]. - Operating costs rose by 54.40% year-on-year, primarily due to increased business scale and rising commodity prices[177]. - The company is exposed to price fluctuations of raw materials, which can impact operating costs and gross margins[163]. - The company’s cash flow from operating activities decreased by 22.64% compared to the previous year, indicating potential liquidity challenges[175]. Strategic Initiatives - The company plans to expand its market presence nationwide through new construction and acquisitions, while deepening its focus on the East China market[51]. - The company aims to enhance its brand advantage and increase investment in new product development to optimize its product structure[51]. - The company has established a reliable gas supply and service network, providing over a hundred types of gas products to various industries[51]. - The company has established long-term cooperative relationships with major suppliers to ensure stable procurement of raw materials[76]. Recognition and Awards - The company has been recognized with multiple honors, including "China Gas Industry Well-Known Brand" and "Jiangsu Province Quality Benchmark Enterprise" during the reporting period[67]. - The company is recognized as a key supplier of specialty gases in the Yangtze River Delta region, which is a strategic hub for advanced manufacturing and emerging industries in China[156]. - The company has received multiple honors, including being recognized as a "National Torch Plan Key High-tech Enterprise" and a "National Intellectual Property Advantage Enterprise," enhancing its brand reputation[148].