卓越新能(688196) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was approximately CNY 3.08 billion, representing a year-on-year increase of 92.91% compared to CNY 1.60 billion in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 344.76 million, an increase of 42.33% from CNY 242.22 million in 2020[20]. - The net cash flow from operating activities for 2021 was negative CNY 59.50 million, a decrease of 123.52% compared to a positive CNY 253.02 million in 2020[20]. - The basic earnings per share for 2021 increased by 42.08% to CNY 2.87 from CNY 2.02 in 2020[21]. - The company's total assets at the end of 2021 were approximately CNY 2.57 billion, reflecting a year-on-year growth of 12.52% from CNY 2.29 billion in 2020[20]. - The net assets attributable to shareholders at the end of 2021 were approximately CNY 2.47 billion, an increase of 11.08% from CNY 2.22 billion at the end of 2020[20]. - The company achieved an annual revenue of 3.083 billion RMB in 2021, representing a growth of 92.91% compared to the previous year[31]. - The net profit attributable to the parent company was 344.76 million RMB, a year-on-year increase of 42.33%[31]. - Total assets reached 2.573 billion RMB, up 12.52% year-on-year, while net assets grew by 11.08% to 2.470 billion RMB[31]. - The company achieved a revenue of CNY 3,083.49 million in 2021, representing a year-on-year growth of 92.91%[95]. - The production capacity of biodiesel reached 400,000 tons, while the capacity for bio-based materials was 90,000 tons[82]. Research and Development - Research and development expenses accounted for 4.09% of operating revenue in 2021, a decrease of 0.47 percentage points from 4.56% in 2020[21]. - The company invested 126.14 million RMB in R&D, a 72.87% increase year-on-year, with a three-year compound growth rate exceeding 43.92%[34]. - The company has filed 48 new patent applications and received 33 patent grants, totaling 137 patents[34]. - The company emphasizes independent R&D while collaborating with external research institutions to enhance innovation capabilities[44]. - The total R&D personnel increased to 113, representing 18.46% of the company's total workforce, compared to 102 and 19.25% in the previous period[78]. - The company has undertaken multiple national research projects, including the "National Key New Product Plan" and "National Torch Program," enhancing its technological capabilities[79]. - The company has developed a series of technologies to improve resource utilization, including glycerol recovery and purification processes, with specific projects showing significant efficiency improvements[76]. - The company has established a dedicated intellectual property leadership team to oversee the management of patents throughout the project lifecycle[200]. Production and Capacity - The company achieved a significant increase in biodiesel production capacity with the completion of a new facility capable of producing 100,000 tons annually, contributing to higher sales volumes[21]. - The company is expanding its biodiesel production capacity, with a new 100,000-ton production line expected to be completed by October 2022[36]. - The company has developed new technologies for producing hydrocarbon biodiesel and glycerol-based propylene glycol from waste oil, enhancing its production capabilities[61]. - The company achieved a biodiesel transesterification conversion rate of 99% and a high-quality yield exceeding 88%[81]. - The company has optimized its biodiesel production technology, which integrates information and automation technologies, supporting large-scale development[61]. Market and Industry Position - The company is the largest biodiesel producer in China, with the highest export volume for six consecutive years, indicating a strong industry position[59]. - The biodiesel market is experiencing stable growth globally, with the EU being the largest consumer and importer, driven by policies promoting renewable energy[47][48]. - The domestic biodiesel market has significant growth potential, with a projected demand of approximately 7.5 million tons if B5 biodiesel blending standards are implemented[50]. - The company is positioned to benefit from the increasing global focus on carbon neutrality and the demand for green energy solutions[60]. - The company has maintained a leading position in biodiesel exports, supporting global carbon neutrality goals[186]. Governance and Compliance - The company has not reported any significant risks that could materially affect its operations during the reporting period[4]. - The company has a standard unqualified audit report issued by Rongcheng Accounting Firm[4]. - The company has not disclosed any special arrangements for corporate governance[8]. - The company has established a robust internal control management system that has been continuously optimized to enhance decision-making efficiency and asset security[167]. - The company has not proposed any cash profit distribution plan during the reporting period despite having positive distributable profits[165]. - The company has established four specialized committees under the board: strategy, audit, nomination, and remuneration and assessment[135]. Environmental Responsibility - The company has continuously increased its investment in environmental protection and improved its facilities to reduce carbon emissions[183]. - The company specializes in the research and industrialization of biodiesel and bio-based materials, contributing to the circular economy and serving as a substitute for fossil fuels[184]. - The company did not face any administrative penalties due to environmental issues during the reporting period[177]. - The company produced 6 production bases that strictly comply with the Air Pollution Prevention and Control Law, ensuring emissions meet standards[179]. Employee and Talent Management - The company has 335 employees in the parent company and 277 employees in major subsidiaries, totaling 612 employees[158]. - The company conducts regular training programs for employees to improve their skills and overall quality, fostering a practical and learning-oriented workforce[160]. - The company plans to enhance talent training and incentive mechanisms to address potential shortages in technical and management personnel as production scales up[90]. - The remuneration structure for senior management consists of a basic salary and performance-based pay, subject to comprehensive assessment by the remuneration and assessment committee[146]. Investor Relations - The company established a comprehensive investor relations management system, ensuring transparency and timely information disclosure[199]. - The board of directors and management actively engaged with minority investors to gather opinions and feedback[199]. - The company held two performance briefings and achieved a 100% response rate to investor feedback through various communication channels[198].