Zhongtai Chemical(SZ:002092)2022-02-16 16:00Financial Performance - The company's operating revenue for 2021 was ¥62,463,275,757.60, a decrease of 25.83% compared to the previous year[33]. - The net profit attributable to shareholders for 2021 was ¥2,702,674,815.85, representing a significant increase of 1769.96% year-over-year[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,649,086,925.82, an increase of 11800.46% compared to the previous year[33]. - The net cash flow from operating activities for 2021 was ¥4,458,028,260.12, down 36.88% from the previous year[33]. - The total assets at the end of 2021 were ¥73,077,826,269.39, reflecting an increase of 11.92% compared to the end of 2020[33]. - The net assets attributable to shareholders at the end of 2021 were ¥25,229,690,613.07, an increase of 33.25% from the end of 2020[33]. - The basic earnings per share for 2021 was ¥1.1623, a substantial increase of 1627.04% compared to the previous year[33]. - The diluted earnings per share for 2021 was also ¥1.1623, indicating consistent performance in earnings[33]. - The company reported a significant increase in quarterly revenue, with Q4 2021 revenue reaching ¥20,224,746,001.57[39]. - The total operating revenue for 2021 was approximately ¥62.46 billion, a decrease of 25.83% compared to ¥84.21 billion in 2020[107]. - Chlor-alkali chemical segment revenue increased by 57.35% to ¥19.12 billion, accounting for 30.60% of total revenue[107]. - The textile industry revenue rose by 50.00% to ¥7.08 billion, representing 11.34% of total revenue[107]. - The modern trade revenue decreased by 48.89% to ¥33.85 billion, making up 54.19% of total revenue[107]. - The logistics transportation segment saw a significant increase of 165.15%, reaching ¥1.62 billion, which is 2.60% of total revenue[107]. Business Operations - The company has expanded its main business to include the production and sales of viscose fibers and viscose yarns, in addition to PVC resin and ion-exchange membrane caustic soda since its listing[23]. - The company completed the acquisition of Xinjiang Zhongtai (Group) Co., Ltd.'s stake in Xinjiang Zhongtai Xinxin Chemical Technology Co., Ltd. in July 2021, making it a subsidiary[32]. - The company has achieved a stable PVC direct sales rate and an increase in the local conversion rate of viscose fiber in Xinjiang[66]. - The company is focused on expanding its market presence in the textile industry, producing a variety of viscose fibers and yarns for diverse applications[93]. - The company has built a complete industrial chain in the chlor-alkali chemical industry, reducing logistics costs and enhancing resource efficiency[99]. - The company is actively pursuing the renewal of various licenses, including hazardous chemicals and production permits, to ensure compliance and operational continuity[91]. Research and Development - The company reported 153 patent applications and 165 authorized patents during the reporting period[78]. - The company has established a comprehensive R&D platform with 1 national-level technology center and 10 regional-level technology centers[78]. - The company is focusing on technological innovation and has developed new products such as antibacterial fibers and high-white fibers[62]. - The company has successfully completed RCS certification for its pure cotton viscose fiber yarn products[62]. - The company emphasizes innovation and R&D, establishing national and regional technology centers and collaborative innovation platforms[100]. - The company's R&D investment increased by 109.58% from 347.28 million yuan in 2020 to 727.85 million yuan in 2021, representing 1.17% of total revenue[140]. - The number of R&D personnel rose by 8.77% from 593 in 2020 to 645 in 2021, with a notable increase in master's degree holders by 45.45%[138]. Market and Industry Trends - The company anticipates that the PVC market prices will stabilize and normalize in 2022 after experiencing significant fluctuations in 2021[55]. - The company expects the chlor-alkali market to remain healthy, with upstream raw material prices likely to stay high, providing cost support for PVC[55]. - The company noted that the domestic demand for viscose staple fiber is primarily driven by the spinning and non-woven fabric sectors, with spinning accounting for nearly 90% of the demand[57]. - The average price of coal increased from 207.91 to 415.20 RMB/ton, while the average price of coke rose from 1,150.34 to 1,860.28 RMB/ton[75]. - The production cost of PVC resin increased by approximately 650 RMB/ton due to rising raw material prices[76]. Risk Management - The company has identified risks in production operations related to market environment, environmental protection, human resources, and finance, urging investors to be aware of these risks[10]. - The company emphasizes that forward-looking statements regarding development strategies and operational plans do not constitute substantive commitments to investors[8]. - The company has established an internal control system for futures hedging, which includes risk monitoring and approval processes to mitigate operational risks[160]. - The company's risk analysis and control measures for derivative positions include assessments of market, liquidity, credit, and operational risks[158]. Environmental and Sustainability Initiatives - The company is committed to promoting a low-carbon economy and green development initiatives[100]. - The company has obtained environmental certification for eco-friendly paste resin, expanding its applications into automotive coatings, pharmaceutical sheets, and battery separators[62]. - The company aims to achieve coordinated development of environmental, economic, and ecological benefits through its operations[99]. - The company is positioned as a "green design pilot enterprise" and an "industry energy efficiency leader," reflecting its commitment to sustainable practices[102]. Investment and Financing - The company reported a significant increase in investment amounting to ¥7.75 billion, a 823.22% increase from ¥839.8 million in the previous year[151]. - The company completed a major equity investment of ¥3.75 billion in Xinjiang Zhongtai Chemical Toksun Energy Co., holding a 97.78% stake[154]. - The company’s financial liabilities totaled ¥16.1 billion, with a change in fair value of ¥4.77 billion during the reporting period[150]. - The company reported a total fundraising amount of 642,570.96 million CNY, with 514,649.76 million CNY already utilized by the end of the reporting period[161]. - The company raised 3,812,094.48 million CNY through a private placement, with a net amount of 3,755,518.34 million CNY after deducting issuance costs[164]. - The company utilized 252,772.27 million CNY of the raised funds during the reporting period, leaving 128,094.29 million CNY unutilized[161]. Corporate Governance - The board of directors confirmed that all financial reports are true, accurate, and complete, with no significant omissions or misleading statements[5]. - The company has not reported any significant internal control deficiencies or non-standard audit opinions for the reporting period[8]. - The company is committed to high-quality development by implementing comprehensive safety measures and optimizing its governance structure[200].