AHB(SH:688639)2022-04-19 16:00Financial Performance - The company achieved operating revenue of CNY 954,096,078.53 in 2021, representing a year-on-year increase of 95.81%[17]. - Net profit attributable to shareholders was CNY 168,235,540.04, up 38.92% compared to the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 145,322,411.47, reflecting a 50.20% increase year-on-year[17]. - Total assets reached CNY 1,474,106,341.41 at the end of 2021, a year-on-year growth of 98.43%[17]. - The company's net assets attributable to shareholders increased by 141.56% to CNY 1,183,125,104.94 compared to the beginning of the year[19]. - Basic earnings per share rose to CNY 1.70, a 13.33% increase from the previous year[18]. - The company reported a net cash flow from operating activities of CNY 95,702,545.78, down 12.66% from the previous year[17]. - The company’s amino acid product sales revenue increased significantly, with production rising from 25,043.18 tons to 48,999.67 tons, a 95.66% increase[77]. - The sales volume of amino acid products increased from 26,830.80 tons to 47,942.49 tons, representing a year-over-year growth of 78.68%[77]. Dividend Policy - The company plans to distribute a cash dividend of 5.51 RMB per 10 shares, totaling approximately 59.73 million RMB, which represents 35.50% of the net profit attributable to shareholders for 2021[4]. - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends if profits are positive[141]. - The company completed the 2020 profit distribution plan, distributing a cash dividend of 3.37 RMB per 10 shares, amounting to 36.40 million RMB[143]. - The cash dividend distribution plan for 2021 has been approved by the board and will be submitted for shareholder approval[143]. - The company’s board of directors has committed to maintaining a clear and transparent dividend policy in accordance with its articles of association[144]. Research and Development - The company invested 5.54% of its operating revenue in R&D, a decrease of 0.64 percentage points from the previous year[18]. - R&D expenses increased significantly to ¥52,842,997.97 from ¥30,123,885.86, representing a growth of 75.42% year-over-year[43]. - The number of R&D personnel rose to 112 from 62, with R&D staff now making up 13.83% of the total workforce, up from 9.48%[48]. - The company plans to continue increasing R&D investment, focusing on developing more bio-based new products to drive significant advancements in the field of biological manufacturing[27]. - The company has formed long-term partnerships with various research institutions to strengthen its technological innovation capabilities and talent pool[27]. Market Position and Strategy - The company has achieved a global market share of 100% for L-alanine, produced through anaerobic fermentation using renewable glucose, establishing its leading position in the industry[30]. - The company plans to continue expanding its product offerings and increasing production capacity to enhance market competitiveness[25]. - The significant growth in revenue and profit was primarily driven by increased sales volumes of valine and alanine products[25]. - The company is focused on expanding its product variety and market reach to enhance its competitive position in the bio-manufacturing industry[103]. - The marketing strategy focuses on leveraging technological leadership and exploring the potential application value of products to expand market demand[106]. Governance and Compliance - The company has not violated decision-making procedures for external guarantees[6]. - The company has confirmed that all directors attended the board meeting[5]. - The company has established a decision-making mechanism for profit distribution that includes consultation with shareholders and independent directors[145]. - The company’s governance structure complies with the Company Law and Articles of Association, ensuring the legality and validity of the meeting resolutions[114]. - The company has established specialized committees, including an audit committee and a strategic committee, to oversee various aspects of governance[133]. Environmental and Social Responsibility - The company has implemented a structured environmental management system, including policies for wastewater, solid waste, and noise control[168]. - The company reported a wastewater discharge of 8.03 tons per annum (t/a) for chemical oxygen demand (COD) and ammonia nitrogen, meeting environmental assessment standards[157]. - The company has invested up to RMB 250 million in the "Bayan Nur Huaheng Biotechnology Co., Ltd. annual production of 16,000 tons of branched-chain amino acids and their derivatives project"[162]. - The company has established emergency response plans for environmental incidents and conducts regular drills[163]. - The company actively engages in various community activities to enhance its corporate social responsibility[182]. Risks and Challenges - The company faces risks related to technological obsolescence, as failure to adapt to revolutionary new technologies could adversely affect its market competitiveness[58]. - The company’s main raw materials, including starch and glucose, have seen price increases, which could negatively impact operational performance if not managed effectively[61]. - The competitive landscape for L-Alanine is intensifying, with new capacities emerging in the industry, potentially affecting the company's business[68]. - The company has a significant accounts receivable balance, which poses a risk of liquidity tightening if not managed properly[64]. - The company benefits from tax incentives as a high-tech enterprise, but changes in tax policies could impact its financial performance[65].