*ST新纺(002087) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥5,303,450,692.12, an increase of 8.99% compared to ¥4,865,937,958.66 in 2020[17] - The net profit attributable to shareholders decreased by 71.58% to ¥48,947,641.12 from ¥172,200,859.92 in the previous year[17] - The net profit after deducting non-recurring gains and losses was ¥128,404,596.18, down 20.58% from ¥161,668,772.13 in 2020[17] - The net cash flow from operating activities improved significantly to ¥363,749,259.25, a 388.83% increase from -¥125,939,881.43 in 2020[17] - The total assets at the end of 2021 were ¥10,566,509,246.43, reflecting a 3.76% increase from ¥10,183,876,727.24 at the end of 2020[17] - The net assets attributable to shareholders increased slightly by 0.65% to ¥4,300,071,036.11 from ¥4,272,226,678.75 in 2020[17] - The basic earnings per share decreased to ¥0.0599, down 71.58% from ¥0.2108 in the previous year[17] - The weighted average return on net assets was 1.14%, a decrease of 2.96% compared to 4.10% in 2020[17] - The company reported a net profit of ¥45,976,944.28 for the year 2021[68] - The total distributable profit for the period was 1,229,001,013.32 CNY, indicating a strong profitability position[126] Revenue and Sales - In Q1 2021, the company's operating revenue was approximately ¥1.34 billion, while in Q2 it decreased to ¥1.18 billion, followed by an increase to ¥1.46 billion in Q3, and a slight decline to ¥1.33 billion in Q4[21] - The company achieved a total revenue of CNY 5.30 billion in 2021, representing an increase of 8.98% year-on-year[38] - The company's revenue from yarn sales was CNY 3.53 billion, accounting for 66.65% of total revenue, with a year-on-year growth of 14.78%[42] - Domestic sales contributed CNY 5.06 billion, representing 95.47% of total revenue, with a year-on-year increase of 10.35%[42] - The total revenue for 2021 was 1,608.81 million, showing a significant increase compared to previous years[101] Costs and Expenses - The cost of goods sold was ¥4,598,116,998.76, which is an increase of 11.17% compared to the previous year[48] - The gross margin for the textile industry was reported at 11.17%, a decrease of 1.70% year-on-year[45] - Total sales expenses for 2021 were approximately ¥17.19 million, a slight increase of 0.40% compared to 2020[57] - Financial expenses increased significantly by 22.26% to approximately ¥207.36 million in 2021, compared to ¥169.61 million in 2020[57] - R&D expenses rose by 4.03% to approximately ¥163.03 million in 2021, up from ¥156.72 million in 2020[57] Research and Development - The company has obtained 6 invention patents, 71 utility model patents, and 32 design patents as of December 31, 2021[33] - The company is committed to innovation and has established a high-efficiency R&D system to support new product development in line with its strategic goals[40] - The company's R&D investment amounted to ¥163,025,099.79 in 2021, representing a 4.03% increase from ¥156,715,336.95 in 2020[66] - R&D expenditure accounted for 3.07% of total revenue in 2021, a slight decrease of 0.15% from 3.22% in 2020[66] - Research and development investments increased by 25% in 2021, focusing on innovative textile technologies[107] Market Strategy and Operations - The company operates a direct procurement model to ensure stable supply and reduce costs, adapting to market demands[30] - The sales strategy includes direct sales and e-commerce, with 29 sales offices established in key textile markets across the country[31] - The company aims to enhance its marketing channels by establishing diversified sales platforms and actively exploring emerging markets to increase its domestic and international market share[86] - The company is upgrading from manufacturing to intelligent manufacturing, building smart factories, and accelerating the integration of advantageous resources to maintain its leading position in cotton textiles[85] - The company plans to leverage the cost advantages of its Xinjiang production base while improving production efficiency to maintain its leading position in the cotton textile industry[86] Environmental Compliance - The company has a wastewater treatment plant with a processing capacity of 6,000 tons per day, and the facility is operating normally, treating both production and domestic wastewater[138] - The wastewater treatment process includes "coagulation sedimentation + hydrolysis acidification + A/O + contact oxidation + biochemical sedimentation tank + coagulation three sedimentation tank + advanced oxidation" and meets the GB4287-2012 standards[138] - The company has implemented pollution prevention facilities, including a pulse bag dust collector and SCR denitrification equipment, ensuring emissions meet the GB 13223-2011 standards[138] - The company has established monitoring points for non-organized emissions, ensuring compliance with environmental standards[141] - The company is committed to environmental compliance through rigorous monitoring and reporting of pollutants[142] Corporate Governance - The company adheres to legal and regulatory requirements in its governance structure, ensuring transparency and accountability in its operations[91] - The company maintains complete independence from its controlling shareholders in terms of business operations, personnel, assets, and financial management[95] - The company has established an independent financial accounting department with a standardized financial management system, ensuring no shared bank accounts with controlling shareholders[96] - The company has a modern corporate governance structure, adhering to legal regulations and ensuring effective checks and balances among its governing bodies[95] - The board of directors has been actively involved in overseeing the company's operational and financial performance[112] Shareholder Information - The largest shareholder, Xinye County Finance Bureau, holds 27.30% of the shares, with 100 million shares pledged[192] - The total number of shares is 816,794,300, with 99.86% being unrestricted shares[190] - The controlling shareholder of the company is the Xinye County Finance Bureau, which holds a significant stake in the company[195] - The top three shareholders include Xinye County Finance Bureau with 222,960,192 shares, Xinye County Supply and Marketing Cooperative with 11,995,800 shares, and Xinye County Cotton and Hemp Group with 10,659,440 shares[194] - The actual controller is also the Xinye County Finance Bureau, which is responsible for the supervision and management of local state assets[196] Future Outlook - Financial guidance for the upcoming year indicates a focus on expanding production capabilities and enhancing product innovation to meet market demands[63] - Future guidance estimates a revenue growth of 12% for 2022, driven by increased demand and new product introductions[103] - The company plans to expand its market presence by entering two new regions in 2022, aiming for a 20% increase in market share[105] - New product lines are expected to launch in Q3 2022, projected to contribute an additional 5% to overall revenue[106] - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency and product offerings[102]