Crown Advanced Material (SH:688560)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,289,068,858.97, representing a 40.33% increase compared to CNY 918,629,999.98 in 2020[19]. - The net profit attributable to shareholders of the listed company was CNY 122,924,268.25, a 16.53% increase from CNY 105,489,244.29 in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased by 32.03% to CNY 94,179,903.30 from CNY 71,330,713.24 in 2020[19]. - The company's cash flow from operating activities showed a net outflow of CNY 93,255,130.82, a decrease of 377.36% compared to a net inflow of CNY 33,622,169.19 in 2020[20]. - The total assets at the end of 2021 were CNY 1,984,588,142.03, reflecting a 14.12% increase from CNY 1,739,023,376.06 at the end of 2020[20]. - The basic earnings per share for 2021 was CNY 0.75, down 12.79% from CNY 0.86 in 2020[21]. - The company's main business income reached CNY 126,377.68 million, up 38.56% year-on-year, while the main business cost increased by 43.24%[110]. - The net profit attributable to shareholders was CNY 12,292.43 million, a year-on-year growth of 16.53%[108]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 15%[168]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2.50 CNY per 10 shares, totaling approximately 41.02 million CNY, which represents a cash dividend payout ratio of 33.37% for the year 2021[5]. - The board of directors has approved a dividend payout of 0.5 yuan per share, reflecting a commitment to returning value to shareholders[169]. Research and Development - The company invested 52.6 million yuan in R&D in 2021, accounting for 4.08% of its revenue, and has a research team of 68 members[65]. - The company added 5 new patents in 2021, bringing the total to 119, including 31 invention patents[65]. - The company is focusing on R&D to meet the evolving demands for aluminum-plastic film products in various applications, including new energy vehicles[102]. - The company has established a core technology system with independent intellectual property rights, enhancing its comparative advantages in the industry[98]. - The company has implemented a stable extrusion production process, ensuring long-term reliability of its products[94]. Market and Sales Performance - The company experienced an increase in orders for its main products, including solar cell backsheets and encapsulants, contributing to revenue growth[21]. - The company exported 8.6344 million square meters of backplane, accounting for 9.74% of total sales, indicating strong demand in overseas markets[44]. - The company achieved a production capacity of 40 million square meters of POE/EVA film in 2021, with an actual production of 987.95 million square meters and a sales volume of 885.65 million square meters, resulting in a sales rate of 90%[34]. - The cumulative sales of the company's backplane reached 88.6392 million square meters, while aluminum-plastic film sales totaled 5.8756 million square meters and encapsulation adhesive film sales reached 8.8565 million square meters, meeting annual operational targets[36]. - The company plans to increase aluminum-plastic film production capacity to 10 million square meters annually by 2022, with expected sales volume reaching 13-15 million square meters for the year[36]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has not reported any special arrangements for corporate governance[7]. - The company has not violated any decision-making procedures for providing guarantees[7]. - The company has not reported any non-operating fund occupation by controlling shareholders or their affiliates[7]. - The company has established a performance evaluation system and salary distribution system to motivate employees and ensure competitive compensation[188]. Risk Management - The company has detailed various risks and countermeasures in its report, emphasizing the importance of investor awareness regarding investment risks[6]. - The company faces risks related to the long collection cycle of receivables, which could impact cash flow and operational stability[104]. - The company has implemented measures to optimize supply chain management and improve production yield, achieving the targeted production yield for the year[33]. Environmental and Social Responsibility - The company actively promotes ESG management and has implemented a social responsibility management system[196]. - The company does not belong to the list of key pollutant discharge units published by environmental protection authorities[197]. - The company adheres to the Air Pollution Prevention Law, ensuring that exhaust emissions meet standards through RTO incineration treatment[199]. - Energy consumption has been reduced through the use of energy-saving and water-saving equipment[200]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development to sustain growth[21]. - The company expects to achieve a production and sales volume of over 130 million square meters of backsheet in 2022, representing a growth of approximately 40-50%[155]. - The company aims for a 100% capacity release of its aluminum-plastic film project in 2022, with expected production and sales volume reaching 13-15 million square meters, indicating a year-on-year growth of over 150%[155]. - The company anticipates a significant growth in the photovoltaic market, with an expected installation capacity of 55-65 GW in 2021[148].