泸天化(000912) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥6,752,856,224.51, representing a 20.20% increase compared to ¥5,617,952,971.24 in 2020[34] - The net profit attributable to shareholders for 2021 was ¥446,155,715.14, up 17.15% from ¥380,852,118.13 in the previous year[34] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥402,789,192.31, reflecting a significant increase of 35.31% from ¥297,667,894.16 in 2020[34] - Net profit for the year reached ¥642,706,852.78, an increase of 33.04% compared to the previous year[36] - Basic and diluted earnings per share increased to ¥0.28, reflecting a growth of 16.67% year-over-year[36] - Total assets rose to ¥9,687,897,634.41, marking a 23.39% increase from the end of the previous year[36] - Net assets attributable to shareholders increased by 8.43% to ¥5,875,020,313.99 compared to the previous year[36] - The total operating revenue for the year 2021 was approximately CNY 6.75 billion, representing a year-on-year increase of 20.20% compared to CNY 5.62 billion in 2020[93] - The fertilizer segment contributed CNY 3.15 billion, accounting for 46.58% of total revenue, with a year-on-year growth of 32.52%[93] - The chemical segment generated CNY 2.26 billion, which is 33.40% of total revenue, showing a significant increase of 66.44% compared to the previous year[93] - The trade business revenue decreased by 35.13% to CNY 1.13 billion, representing 16.78% of total revenue[93] - Domestic sales accounted for 95.73% of total revenue, amounting to CNY 6.46 billion, with a year-on-year growth of 28.43%[93] Operational Highlights - The company continues to focus on the production of fertilizers and basic chemicals, including methanol and liquid ammonia[32] - The company produced 1.5 million tons of urea, 600,000 tons of synthetic ammonia, and 750,000 tons of methanol, placing it in a lower-middle position within the industry[53] - The company has established a nationwide sales and service network covering major fertilizer usage areas, with a significant number of grassroots distribution points, indicating a higher-middle position in terms of sales and service[53] - The company maintained a market satisfaction rate of 97.21%, indicating strong customer recognition[86] - The company completed 60 technology innovation projects and achieved 21 technological innovation results during the reporting period[88] - The total sales volume for the fertilizer sector was 1,494,117.86 tons, a decrease of 10.53% from 2020, while production volume was 1,554,528.25 tons, down 5.29%[96] Research and Development - The company has established a postdoctoral research workstation and has collaborations with top universities, enhancing its R&D capabilities in various chemical technologies[71] - The company holds 1 invention patent for long-acting compound fertilizers and 2 for crop-specific fertilizers, indicating a focus on innovation in product development[71] - The company completed several R&D projects, including high-performance lubricating oil and new types of fertilizers, aimed at enhancing product competitiveness[106][109] - The company is developing new products such as super pure urea and ammonia SCR catalysts, which are expected to improve market competitiveness[109] - Total R&D investment amounted to ¥80,657,888.94 in 2021, a 29.96% increase from ¥62,062,625.71 in 2020, representing 1.19% of operating revenue[114] Procurement and Costs - The company’s procurement of natural gas amounted to approximately ¥1.34 billion, accounting for 28.12% of total procurement, with average prices rising from ¥1.52 in the first half to ¥1.66 in the second half[68] - The procurement of coal was approximately ¥1.23 billion, representing 25.91% of total procurement, with average prices increasing significantly from ¥596.37 to ¥1,381.11[68] - The company’s energy procurement costs account for over 30% of total production costs, influenced by rising international energy prices due to the pandemic[68] - The cost of raw materials for fertilizer products increased by 33.79% year-over-year, amounting to CNY 2.12 billion, which constituted 39.01% of total operating costs[99] - The overall operating costs increased by 11.36% year-over-year, totaling CNY 5.44 billion[99] Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, enhancing its governance level since the restructuring in 2018[154] - The board of directors is responsible for decision-making and has implemented a system to ensure fairness and professionalism in its operations[156] - The company maintains an independent financial system and has a dedicated finance department with its own accounting system[164] - The company emphasizes the protection of stakeholders' rights, including banks, employees, consumers, and suppliers[161] - The company has a robust internal control system to ensure effective management and operational efficiency[160] - The management team includes experienced professionals from both the financial and operational sectors, enhancing strategic decision-making capabilities[182] Future Strategies and Risks - Future development strategies and potential risks for 2022 are discussed in the management analysis section of the report[5] - The company aims to enhance its market position through product innovation and optimizing its product structure, supported by collaborations with academic institutions for technical guidance[66] - The company faces risks related to rising raw material costs, particularly natural gas and coal, and plans to implement lean management and technological innovations to mitigate these risks[145] - The company anticipates price volatility risks for chemical products, particularly methanol, due to fluctuations in international oil prices and capacity expansion, and aims to enhance market analysis capabilities[146] - The company is committed to strengthening safety and environmental protection measures, ensuring compliance with stricter production and safety standards[147]