Supezet(SH:688121)2022-04-28 16:00Financial Performance - The company did not distribute cash dividends or bonus shares for the 2021 fiscal year, and no capital reserve was converted into share capital[5]. - The company reported a standard unqualified audit opinion from the accounting firm Xin Yong Zhong He[5]. - The company has not yet achieved profitability since its listing[4]. - The company’s total revenue and profit figures for 2021 are not provided in the extracted content, indicating a need for further financial details[13]. - The company's total revenue for 2021 reached CNY 3,900,886,604.75, representing a year-on-year increase of 43.02%[22]. - The net profit attributable to shareholders for 2021 was CNY 315,245,664.84, up 26.89% compared to 2020[22]. - The net profit after deducting non-recurring gains and losses was CNY 274,741,315.33, reflecting a growth of 30.75% year-on-year[22]. - The company's cash flow from operating activities showed a significant decline of 149.53%, resulting in a net outflow of CNY 69,978,075.13[24]. - The net assets attributable to shareholders increased by 172.49% to CNY 1,850,955,379.37, primarily due to the funds raised from the IPO and increased operating profits[24]. - Basic earnings per share for 2021 were CNY 1.91, a rise of 17.18% from the previous year[23]. - The company's total assets at the end of 2021 were CNY 6,726,701,461.78, which is a 5.47% increase from the previous year[22]. - The company's comprehensive gross margin was 18.51%, showing a declining trend due to increased customer bargaining power and larger project scales[93]. - The net profit attributable to the parent company was CNY 31,524.57 million, while the net cash flow from operating activities was -6,997.81 million, indicating cash flow challenges[94]. Operational Developments - The company faced various operational risks, which are detailed in the "Management Discussion and Analysis" section of the report[4]. - The company has a commitment to transparency and accuracy in its financial reporting, as stated by its management[5]. - The company has no non-operating fund occupation by controlling shareholders or related parties[7]. - The company has no violations of decision-making procedures regarding external guarantees[7]. - The company secured 4 new international project contracts and 31 domestic project contracts in 2021, enhancing its market presence[35]. - The company established a project lifecycle management system to enhance operational efficiency and reduce costs[38]. - The company is focused on digital transformation and standardization to improve operational management and profitability[38]. - The company has established long-term stable partnerships with major clients such as Sinopec and PetroChina, enhancing its market presence and reputation[48]. - The company has implemented advanced production equipment and management systems, ensuring high product quality and safety standards[79]. - The company has established a comprehensive marketing system, covering 21 provinces/municipalities in China and 16 countries overseas, effectively increasing market share[81]. Research and Development - The R&D expenditure as a percentage of revenue decreased to 3.64% from 4.82% in 2020, indicating a reduction of 1.18 percentage points[23]. - The company has increased its R&D investment to ¥14,204.24 million, a 7.96% increase from ¥13,156.45 million in the previous year[63]. - The company has obtained a total of 121 authorized patents and 18 software copyrights, with 39 new patents granted in 2021[60]. - The company is focusing on technological innovation and has developed proprietary technologies such as propane dehydrogenation processes, aiming to extend its product offerings into new materials and processes[50]. - The company is committed to achieving significant advancements in technology and product quality through ongoing research and development initiatives[71]. Market and Competitive Position - The petrochemical industry is experiencing a shift towards high-end talent cultivation and technological innovation, with increased competition due to rising demand for chemical materials[49]. - The market for refining and petrochemical equipment is expanding, with a decreasing reliance on imported equipment, indicating growth opportunities for domestic manufacturers[44]. - The company has received multiple accolades, including the National Technology Invention Award, reflecting its strong competitive position in the industry[48]. - The company has a strong competitive position in the domestic market due to its extensive project experience and management capabilities[110]. - The company is actively expanding its market presence and enhancing its product offerings through strategic contracts and partnerships[112]. Strategic Initiatives - The company aims to enhance its integrated design and manufacturing capabilities, providing intelligent and data-driven solutions to clients in the refining and petrochemical sectors[50]. - The company is focusing on market expansion through the development of new technologies and products, particularly in the petrochemical sector[66]. - The company plans to enhance its high-end manufacturing brand and increase brand awareness in both domestic and international markets[81]. - The company is investing in talent development, focusing on both internal training and external recruitment to enhance its workforce capabilities[147]. - The company is committed to ESG initiatives, focusing on governance, performance growth, and social responsibility, while promoting green operations and environmental harmony[154]. Risks and Challenges - The company faces risks related to the potential inability to recover accounts receivable, with accounts receivable at 155,995.37 million at the end of the reporting period[91]. - The company has a risk of raw material price fluctuations, which could significantly increase production costs if prices rise[88]. - The company is exposed to industry risks, including potential fluctuations in downstream demand and macroeconomic cycles affecting the petrochemical equipment manufacturing sector[98]. - The company faces risks associated with the uncertainty of research outcomes and potential project failures[85]. - The company has a structured governance framework, ensuring compliance with relevant laws and regulations, enhancing operational transparency[156]. Corporate Governance - The company held two shareholder meetings during the reporting period, with all proposed resolutions approved without any rejections[160]. - The chairman of the board holds 60 million shares, with a total pre-tax compensation of 788,800 RMB[162]. - The total number of shares held by the core technical personnel at the end of the reporting period is 61,088,000, with a total pre-tax compensation of 678,610 RMB[164]. - The company has a structured compensation policy that varies by employee category, including performance bonuses for management and sales teams[190]. - The company has implemented a performance evaluation mechanism for senior management based on annual operational performance[196].