凯立新材(688269) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 158,933.00 million, representing a 51.05% increase compared to CNY 105,218.20 million in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 16,255.55 million, a 54.34% increase from CNY 10,532.35 million in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 14,355.59 million, up 46.24% from CNY 9,816.57 million in 2020[22]. - The company's total assets increased by 126.80% to CNY 115,557.64 million at the end of 2021, compared to CNY 50,952.37 million at the end of 2020[22]. - The net assets attributable to shareholders grew by 151.90% to CNY 84,203.40 million at the end of 2021, compared to CNY 33,427.73 million at the end of 2020[22]. - Basic earnings per share for 2021 were CNY 1.99, a 32.67% increase from CNY 1.50 in 2020[23]. - The company's main business revenue from homogeneous and heterogeneous catalysts grew by 54.08% to RMB 158,022.95 million, with a notable increase in sales volume driven by strong downstream demand[110]. - The gross margin for the main business decreased by 1.01 percentage points to 16.19%[109]. Dividend Policy - The company plans to distribute a cash dividend of 10.00 RMB per 10 shares, totaling approximately 93.36 million RMB (including tax) based on a total share capital of 93,360,000 shares as of December 31, 2021[5]. - The proposed cash dividend for 2021 is RMB 10.00 per 10 shares, totaling RMB 93.36 million, which represents 68.83% of the distributable profit[195]. - In the first half of 2021, the company distributed a cash dividend of RMB 6.00 per 10 shares, amounting to RMB 56.02 million[194]. - The company has not proposed any stock dividend plans, focusing solely on cash dividends for profit distribution[195]. Research and Development - The company invested 5,060.01 million RMB in R&D during the reporting period, resulting in 26 new patents, including 25 invention patents[34]. - The company’s R&D investment as a percentage of operating revenue was 3.18% in 2021, slightly up from 3.17% in 2020[23]. - The company has established a research collaboration with Fudan University for the preparation of functional mesoporous carbon-supported precious metal catalysts[34]. - The company has developed a series of catalytic synthesis technologies, including over 30 types of catalysts for pharmaceutical and agricultural intermediates, some of which have been authorized for downstream customer use[53]. - The company has developed advanced catalysts for wastewater treatment and organic waste gas purification, achieving a leading position in domestic performance levels[54]. - The company has developed high-performance catalysts for wastewater treatment, achieving a COD removal rate of ≥90% and ammonia nitrogen removal rate of ≥90%[74]. - The company has developed non-precious metal catalysts, achieving good progress in nickel-based, copper-based, and titanium catalysts[136]. Market Expansion and Strategy - The company plans to continue expanding its market presence and enhancing its product offerings in the catalyst sector[24]. - The company is actively responding to national strategies for carbon peak and carbon neutrality, accelerating the localization of imported catalysts and addressing critical issues in related fields[48]. - The company is focusing on expanding its market presence by developing new products and technologies, particularly in the field of catalyst applications[74]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential mergers[171]. - The company aims to improve production efficiency by over 25% through optimization of production processes[64]. - The company is focused on domestic demand for basic chemical precious metal catalysts, targeting key products such as platinum-alumina catalysts for alkane dehydrogenation and palladium-alumina catalysts for coal-to-ethylene glycol, to achieve import substitution[156]. Governance and Compliance - The audit report issued by Xinyong Zhonghe Accounting Firm confirms the financial statements' accuracy and completeness, providing assurance to stakeholders[5]. - There are no violations of decision-making procedures regarding external guarantees, indicating strong governance practices[7]. - The company has established a comprehensive governance structure, including a board of directors and various committees, to ensure effective decision-making and oversight[161]. - The company has successfully adhered to all relevant laws and regulations, ensuring robust corporate governance practices[162]. - The company has not reported any significant issues regarding independence from its controlling shareholders, ensuring operational autonomy[162]. Operational Risks and Management - The company has detailed various operational risks and corresponding mitigation measures in the report, emphasizing a proactive approach to risk management[4]. - The report includes a forward-looking statement risk disclaimer, cautioning investors about potential uncertainties in future plans and strategies[6]. - The company faces risks related to the volatility of precious metal prices, which can account for over 90% of production costs[94]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[7]. Employee and Management Structure - The company employs a total of 230 staff, including 88 production personnel, 19 sales personnel, and 70 R&D personnel[190]. - The number of R&D personnel increased to 70, representing 30.43% of the total workforce, with an average salary of 29.43万元[81]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 7,209,400 RMB[178]. - The total remuneration for core technical personnel at the end of the reporting period was 6,960,200 RMB[178]. - The company has a structured training program aimed at enhancing employee skills and safety awareness, with annual training plans released every April[192]. Financial Position and Cash Flow - The company's operating cash flow showed significant fluctuations, with a negative cash flow of -13,964.72 million RMB in Q1 and a positive cash flow of 24,936.27 million RMB in Q4[25]. - The net cash flow from operating activities was RMB 4,780.83 million, up 4.23% compared to the previous year[103]. - The net cash flow from financing activities surged to RMB 40,134.83 million, primarily due to increased funds raised from share issuance[106]. - The investment activities resulted in a net cash outflow of RMB 15,322.22 million, significantly higher than the previous year's outflow of RMB 2,143.85 million[105]. Customer and Supplier Relations - The top five customers generated sales of 472.59 million RMB, accounting for 29.91% of total annual sales, with no sales to related parties[118]. - The top five suppliers accounted for 820.64 million RMB in purchases, representing 59.33% of total annual purchases, with no purchases from related parties[120]. - The company has nearly 1,000 product users, with over 100 listed companies among them, indicating a strong customer base[87]. Future Outlook - The company provided a positive outlook for the next quarter, projecting revenue growth of 25%[171]. - Future outlook includes plans for market expansion and the introduction of new products, aiming for a 22.39% increase in market share[169]. - The company aims to achieve a revenue growth target of 101.39% in the upcoming quarter through strategic marketing efforts[169].