Financial Performance - The company's operating revenue for 2021 was ¥2,748,534,840.68, representing a 15.94% increase compared to ¥2,370,664,970.75 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥178,831,396.77, a decrease of 19.57% from ¥222,331,174.31 in 2020[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥164,897,501.44, down 14.19% from ¥192,156,163.31 in 2020[21]. - The net cash flow from operating activities was ¥167,741,260.39, a decline of 23.00% compared to ¥217,846,053.82 in 2020[21]. - Basic earnings per share for 2021 were ¥2.45, down 25.53% from ¥3.29 in 2020[21]. - The total assets at the end of 2021 were ¥2,443,821,927.10, an increase of 61.50% from ¥1,513,159,992.34 at the end of 2020[21]. - The weighted average return on net assets was 14.55%, a decrease of 12.92% from 27.47% in 2020[21]. - The company’s total liabilities decreased by 30.41% to ¥422,894,278.52, resulting in an asset-liability ratio of 17.30%, down 22.86 percentage points[66]. Revenue Breakdown - The surface active agent business generated revenue of ¥2,499,516,938.25, an increase of 18.53% year-on-year, with a gross profit margin of 15.67%, down 3.33 percentage points[66]. - The detergent business reported revenue of ¥200,641,790.63, a decline of 10.96% year-on-year, with a gross profit margin of 18.78%, down 3.62 percentage points[68]. - Domestic sales accounted for 92.74% of total revenue, while international sales made up 7.26%, with international sales increasing by 26.39% year-on-year[70]. - The company’s main products include AES and LAS, with AES revenue at ¥1,283,842,588.00 and LAS revenue at ¥780,458,656.76[75]. Market Position and Strategy - The company ranks among the top three in domestic production and sales of surface active agents, benefiting from an industry concentration increase[35]. - The company anticipates further growth in the surface active agent market due to rising consumer living standards and increasing demand for personal care and household cleaning products[34]. - The company is focusing on product innovation and technology improvements to meet increasing consumer demands for environmentally friendly and high-quality products[35]. - The company serves major clients including Procter & Gamble, L'Oreal, and Johnson & Johnson, indicating a strong market presence[42]. Research and Development - The company has a total of 40 patents related to its core technologies, enhancing its competitive edge in the market[51]. - The company is actively pursuing technological innovation to enhance product quality and reduce the gap with international competitors[40]. - R&D expenses grew by 12.87% to ¥94,517,969.80 as the company continued to increase its investment in research and development[86]. - The company is focusing on the development of new products for the polymer resin industry, particularly a new emulsifier for K12 products[90]. Sustainability and Certifications - The company is committed to sustainable practices, including certifications like HALAL and RSPO for its products[11]. - The company has received multiple certifications, including EFfCI, HALAL, and RSPO, ensuring compliance with international standards[59]. - The company is committed to energy conservation and carbon neutrality, aiming to optimize product energy consumption annually[89]. Cash Flow and Investments - Operating cash inflow for 2021 was CNY 2.79 billion, an increase of 10.11% compared to CNY 2.54 billion in 2020[95]. - Cash inflow from financing activities surged by 260.65% to CNY 1.27 billion from CNY 353.19 million, attributed to IPO fundraising[97]. - The total amount of raised funds in 2021 was CNY 936.70 million, with CNY 372.46 million utilized by the end of the reporting period[113]. - The company plans to invest CNY 210 million in projects related to the production of green surfactants, with a completion rate of 25.13%[112]. Governance and Management - The company operates independently from its controlling shareholder in terms of assets, personnel, finance, and business[154]. - The company has established an internal audit system to oversee compliance and protect shareholder rights[152]. - The board includes independent directors with significant academic and industry experience, enhancing corporate governance[168]. - The company has a structured compensation system for its directors and senior management based on operational performance and individual achievements[176]. Employee Management - The total number of employees at the end of the reporting period was 716, with 182 in the parent company and 534 in major subsidiaries[188]. - The company emphasizes employee training with a detailed annual training plan to enhance overall professional skills and meet strategic development needs[192]. - The company implements a performance-based salary system, linking employee compensation to economic performance and individual contributions[190]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, which significantly impact production costs and overall profitability[132]. - The ongoing COVID-19 pandemic continues to pose risks to the company's operations and overall market demand[138]. - The competitive landscape in the surface active agent industry is intensifying, with potential impacts on market share and profit margins[133].
丽臣实业(001218) - 2021 Q4 - 年度财报