德美化工(002054) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,997,142,738.51, representing a 22.82% increase compared to ¥1,626,081,060.62 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥206,215,709.94, a significant increase of 77.18% from ¥116,390,877.53 in 2020[21]. - The net profit after deducting non-recurring gains and losses was ¥129,753,147.07, up 47.20% from ¥88,147,757.48 in 2020[21]. - The company's total assets at the end of 2021 reached ¥5,675,419,258.88, a 42.83% increase from ¥3,973,595,051.33 at the end of 2020[22]. - The basic earnings per share for 2021 was ¥0.4344, reflecting a 56.48% increase from ¥0.2776 in 2020[22]. - The weighted average return on equity for 2021 was 8.50%, an increase of 2.41% compared to 6.09% in 2020[22]. - The net cash flow from operating activities for 2021 was ¥68,002,262.88, a decrease of 66.65% from ¥203,918,117.88 in 2020[21]. - The company reported non-recurring gains totaling ¥76,462,562.87 for 2021, compared to ¥28,243,120.05 in 2020[28]. - The company's total revenue for 2021 reached 1,035,487,793.95 CNY, representing a year-on-year increase of 34.17%[80]. - The total revenue for the reporting period was 144.045 million, with a significant increase of 3.1356 million compared to the previous year[173]. Business Strategy and Focus - The company has divested from its agricultural business and is now concentrating on its core fine chemical business, which includes textile chemicals, leather chemicals, and petroleum fine chemicals[20]. - The company is focusing on improving product quality, R&D innovation, and customer service to strengthen its core competitiveness in the competitive low-end petroleum resin market[6]. - The company aims to develop high-value domestic markets for petroleum resins, as high-end and specialty petroleum resins are still largely imported[36]. - The company is focused on expanding its product offerings in the petrochemical sector, particularly in high-value derivatives from C5 and C9 cracking by-products[41]. - The company is currently constructing a new fine chemical technology park with an investment of 25,369.78 million CNY, which is 93.35% funded by self-owned capital[111]. - The company is actively pursuing strategic mergers and acquisitions to strengthen its market position[179]. - The company aims to strengthen its carbon five and carbon nine separation and comprehensive utilization business, while developing new materials like high-end hydrogenated resins to meet market demand for high-quality products[137]. Market and Industry Trends - The textile chemical products segment is expected to see continued demand growth due to strong market conditions and increasing customization needs[32]. - The leather chemical industry is influenced by the global leather industry's shift towards developing countries, with Europe facing stricter environmental regulations leading to a decline in production[33]. - The global leather production is expected to maintain steady growth, driven by increasing consumer demand for diverse and high-quality products[35]. - The hot melt adhesive market is projected to grow at approximately 6% over the next five years, driven by increased acceptance of disposable medical products in China and surrounding emerging markets[36]. - The textile chemicals segment generated revenue of 1,398,220,400.71 CNY, with a sales volume of 153,399.44 tons, reflecting a 33.71% increase in sales volume compared to 2020[81][82]. - The leather chemicals segment reported a revenue of 184,882,098.45 CNY, with a sales volume of 13,899.30 tons, showing a 12.18% increase in sales volume year-on-year[83]. Risk Management - The company acknowledges risks related to raw material price fluctuations and intends to strengthen internal management to track price trends and reduce risk impacts[5]. - The company is exposed to international exchange rate risks due to its involvement in foreign production and trade, and it plans to enhance its risk management mechanisms[6]. - The company will strengthen customer credit management to control financial risks associated with accounts receivable and bad debt rates[148]. - The company plans to enhance internal management and monitor raw material price trends to mitigate risks from price fluctuations in petrochemical raw materials[148]. Research and Development - The company holds 67 authorized invention patents and 30 utility model patents in textile chemicals, emphasizing its commitment to R&D and innovation[58]. - Research and development expenses increased by 15.30% to ¥102,531,144.36, reflecting a rise in investment in new product development[94]. - The company is currently in trial production for a new fluorine-free waterproof agent, aiming to enhance product competitiveness[93]. - The company plans to increase investment in R&D hardware and software to enhance the capabilities of its R&D personnel and maintain its core competitive advantages[139]. Environmental and Safety Management - The company plans to increase investment in environmental protection facilities to comply with tightening environmental regulations[7]. - The company emphasizes the importance of safety production management to control safety risks inherent in the chemical industry[6]. - The company is committed to HSE management with a goal of "zero accidents" and is implementing stricter HSE standards than industry requirements[145]. - The company has obtained multiple environmental management certifications, including ISO 14001:2015, ensuring compliance with environmental standards[61]. Corporate Governance - The company has established a robust information disclosure system, issuing 118 announcements in 2021, ensuring transparency and compliance with regulations[159]. - The company held 4 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[153]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring no interference in management decisions[160]. - The company is committed to maintaining transparency and compliance with regulatory requirements in its governance practices[194]. - The board of directors held 14 meetings during the reporting period, adhering to regulations and ensuring smooth operations[155].