HDXY(SZ:002002)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥6,522,929,536.86, representing a 20.93% increase compared to ¥5,393,922,727.29 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥851,839,635.01, a 4.68% increase from ¥813,788,514.21 in 2020[20]. - The net profit after deducting non-recurring gains and losses was ¥841,820,224.27, up 6.38% from ¥791,354,353.65 in 2020[20]. - The basic earnings per share for 2021 was ¥0.3288, a 4.65% increase from ¥0.3142 in 2020[20]. - The diluted earnings per share increased by 23.77% to ¥0.3197 from ¥0.2583 in 2020[20]. - The total assets at the end of 2021 were ¥17,875,417,769.32, a slight decrease of 0.17% from ¥17,906,726,515.69 at the end of 2020[20]. - The net assets attributable to shareholders increased by 33.70% to ¥9,963,259,129.22 from ¥7,452,116,796.65 in 2020[20]. - The cash flow from operating activities showed a significant decline, with a net outflow of ¥211,784,983.49 compared to a net inflow of ¥637,226,347.23 in 2020, a decrease of 133.24%[20]. - The weighted average return on equity for 2021 was 10.81%, a slight decrease from 11.14% in 2020[20]. - The company reported a gross margin of 37.22% in the chemical industry, which is a decrease of 1.34% compared to the previous year[121]. - The company achieved a total operating revenue of ¥6,522,929,536.86 in 2021, representing a year-on-year increase of 20.93% compared to ¥5,393,922,727.29 in 2020[118]. - The chemical industry contributed ¥4,818,455,430.07, accounting for 73.87% of total revenue, but saw a decline of 6.52% from the previous year[118]. - The hydrogen energy sector generated ¥256,637,168.14, a significant increase of 3,031.74% compared to ¥8,465,017.64 in 2020[118]. - The company reported a total of CNY 60,122,246.22 in restricted assets due to various guarantees and judicial freezes[152]. - The company’s total liabilities as of the end of the reporting period were 1,354.48 million CNY, reflecting a 59.49% increase compared to the previous year[159]. Cash Flow and Investments - The cash flow from operating activities showed a significant decline, with a net cash outflow of CNY 264.37 million in Q4, leading to a total cash flow of CNY -215.38 million for the year[24]. - Operating cash inflow decreased by 70.85% year-on-year to approximately 1.83 billion yuan, while cash outflow decreased by 63.80%[145]. - The net cash flow from operating activities was negative at approximately -211.78 million yuan, a decline of 133.24% compared to the previous year[145]. - The company has temporarily supplemented working capital with CNY 150 million, and the remaining balance in the special account for raised funds was CNY 1.62 million after deducting approved temporary working capital[172]. - The total amount of raised funds committed to projects was CNY 3,642.12 million, with CNY 2,669.38 million actually invested by the end of the reporting period[171]. - The company did not make any significant equity investments during the reporting period, with total investment remaining at CNY 0.00[153]. - The company is involved in significant non-equity investments, with a total of CNY 568,543,300.00 planned for soil restoration projects, achieving 92.07% of the planned investment[158]. Market and Industry Trends - The apparent consumption of PVC in China in 2021 was about 19.95 million tons, reflecting a negative growth of 5.3% year-on-year, marking the second instance of negative growth since the 2008 financial crisis[46]. - The export volume of PVC in 2021 is expected to reach 1.75 million tons, the highest trade volume since exports began, while imports are at their lowest in over a decade[46]. - By 2030, China's hydrogen demand is projected to reach approximately 35 million tons, accounting for about 5% of total energy consumption, with renewable hydrogen production estimated at 5 million tons[37]. - The hydrogen energy industry in China is expected to generate an annual output value of around 12 trillion yuan by 2050, with hydrogen demand reaching nearly 60 million tons[39]. - The global hydrogen fuel cell vehicle market is predicted to account for 20% to 25% of all vehicles by 2050, creating a market value of approximately $2.5 trillion[41]. - The PVC market is influenced by macroeconomic conditions and commodity price trends, with significant fluctuations observed in 2021 due to energy consumption control measures[48]. - The demand for caustic soda products is expected to grow rapidly, driven by new urbanization and consumption upgrades, which will boost infrastructure and related construction investments[60]. Research and Development - The company has three R&D centers located in Guangzhou, Yangzhou, and Wuhai, supporting its innovation in hydrogen energy and new materials[72]. - Research and development (R&D) expenses for 2021 amounted to approximately 179.06 million yuan, an increase of 14.55% compared to 2020[143]. - The company focused on R&D projects related to hydrogen energy storage, soil remediation technologies, and rare earth materials during the reporting period[141]. - The number of R&D personnel decreased by 7.87% to 480, with a notable decline in the number of bachelor's degree holders[143]. - The company has established partnerships with multiple universities and research institutes to strengthen its R&D capabilities, focusing on advanced materials and clean production technologies[96]. Environmental and Social Responsibility - The company emphasizes green development and has developed a series of soil conditioners to address soil pollution and improve agricultural productivity[110]. - The company is actively developing the soil remediation industry chain by producing and selling soil conditioners, providing soil remediation technology and services, and promoting new planting models[80]. - The company has successfully transformed previously barren land into productive farmland, contributing to local farmers' income and rural revitalization[81]. - The company is committed to corporate social responsibility by donating pandemic prevention materials to support national efforts[114]. - The company has received recognition for its soil remediation technology, winning the "Shennong Chinese Agricultural Science and Technology Award" for its contributions to agricultural research[186]. Strategic Initiatives - The company plans to build a hydrogen energy project with an annual production capacity of 50,000 tons to enhance its production capabilities for liquid hydrogen and high-purity gaseous hydrogen[114]. - The company is actively developing hydrogen energy as a key growth area, with ongoing research and development in hydrogen production, storage, and application[109]. - The company is focusing on the development of soil conditioners to improve agricultural productivity and sustainability, showcasing its commitment to environmental responsibility[97]. - The company is expanding its hydrogen energy production capabilities, with plans for a project to produce 50,000 tons of hydrogen annually, enhancing its competitive edge in the hydrogen sector[74]. - The company is enhancing R&D capabilities in hydrogen energy and soil remediation, collaborating with renowned research institutions and companies to maintain technological advantages[191]. Operational Efficiency - The company maintains a high operating rate for its chlor-alkali facilities, with strong production and sales performance in chlor-alkali products[113]. - The company operates a comprehensive electronic trading platform for plastic products, recognized as the only national plastic electronic trading exchange in China, with a focus on transparency and efficiency in transactions[69]. - The company employs a production model based on sales forecasts and market dynamics, ensuring a balance between production and sales[85]. - The company has established a specialized information team to track raw material prices weekly, ensuring timely adjustments to procurement strategies[90]. - The company is focusing on organizational optimization to improve operational efficiency and support business expansion through talent development and training[192].