CNNC TD(SZ:002145)2022-04-26 16:00Financial Performance - The company achieved a revenue of 5.374 billion yuan, representing a year-on-year increase of 44.64%[55]. - The net profit attributable to shareholders reached 1.217 billion yuan, a significant year-on-year growth of 156.03%[55]. - The basic earnings per share for 2021 was CNY 0.5924, an increase of 117.31% from CNY 0.2726 in 2020[12]. - The total operating revenue for the year 2021 reached ¥5,374,133,599.51, representing a 44.64% increase compared to ¥3,715,579,733.60 in 2020[63]. - The revenue from the fine chemical sector accounted for 98.89% of total revenue, amounting to ¥5,314,435,594.12, which is a 43.91% increase from ¥3,692,958,416.73 in the previous year[63]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[128]. - The company reported a net profit margin of 12%, which is an improvement from 10% in the previous year[128]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 0.80 RMB per 10 shares to all shareholders, based on a total of 2,053,673,321 shares[2]. - The company approved a cash dividend of RMB 0.4 per 10 shares based on a total share capital of 2,053,673,321 shares, with the distribution completed on May 27, 2021[149]. - The company plans to distribute a cash dividend of 0.80 CNY per 10 shares, totaling 164,293,865.68 CNY, which accounts for 100% of the distributable profit[151]. Business Operations and Strategy - The company has a total of 4.5 bonus shares for every 10 shares held, to be distributed from the capital reserve[2]. - The company is focused on expanding its production capacity and enhancing its competitive edge through mergers, acquisitions, and technological upgrades[28]. - The company is pursuing a strategic cooperation framework with Qinghai Jintai Potash Fertilizer, which is expected to stabilize core raw material supply for its new materials industry[143]. - The company plans to focus on four major business sectors: resources, titanium chemicals, new materials, and new energy during the 14th Five-Year Plan period[107]. - The company aims to become one of the largest sulfuric acid titanium dioxide producers globally and the most competitive lithium iron phosphate production base[107]. Production and Capacity - The company has a production capacity of nearly 400,000 tons of rutile titanium dioxide, ranking second in China and sixth globally[28]. - The company reported a total titanium dioxide production capacity of approximately 800,000 tons per year, with a focus on sulfate process titanium dioxide[37]. - The company is currently constructing a project for an annual output of 200,000 tons of titanium dioxide, which is expected to commence trial operations by the end of 2022[43]. - The company plans to produce and sell 365,000 tons of rutile titanium dioxide in 2022[111]. Research and Development - The company has established eight product series, with R-217 leading the market share in high-end decorative paper applications[4]. - The company is focusing on new product development and technological advancements to maintain competitive advantage[134]. - The company is developing titanium dioxide for high-temperature PVC applications, which is expected to expand its product offerings and market reach[74]. - The company has ongoing research and development in new materials, including new energy materials and conductive materials[91]. - The number of R&D personnel increased to 236 in 2021, a growth of 6.31% compared to 222 in 2020[80]. Environmental Responsibility - The company has implemented measures to ensure all pollutants are within the required standards, with no instances of exceeding emission limits reported[179]. - The company has conducted emergency drills to enhance employees' awareness and response capabilities for potential environmental incidents[184]. - The company is committed to enhancing its governance and internal control systems to support high-quality development in the future[177]. - The company has successfully upgraded its gas treatment facilities, improving the efficiency of pollutant removal and reducing emissions[183]. - The company has installed online monitoring facilities for key emission points, ensuring continuous data transmission and compliance with environmental standards[186]. Governance and Compliance - The company maintains complete independence from its controlling shareholder in terms of personnel, assets, finance, and operations, with no instances of fund occupation or guarantees provided to the controlling shareholder during the reporting period[120]. - The company has established a fair and transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management, ensuring compliance with relevant laws and regulations[119]. - The company has established a comprehensive internal control system in accordance with relevant laws and regulations, effectively preventing operational risks[168]. - The internal control audit report confirmed that the company maintained effective internal controls related to financial statements as of December 31, 2021[176]. - The company has not encountered any major changes in the feasibility of its fundraising investment projects during the reporting period[99]. Market and Industry Trends - The demand for titanium dioxide in the domestic market is expected to remain stable, driven by infrastructure development in Southeast Asia and steady growth in downstream industries such as plastics and coatings[26]. - The domestic titanium dioxide industry is expected to see new production capacity of about 500,000 to 1 million tons in 2022, with an estimated total production of around 4.3 million tons[26]. - The overall growth of the plastic products manufacturing market in China is expected to reach CNY 3.29 trillion by 2023, indicating a stable growth trend[38]. - The company is actively pursuing the acquisition of assets from bankrupt companies to strengthen its market position in the Panzhihua region[142]. Employee Engagement and Development - The total number of employees at the end of the reporting period was 2,821, with 1,905 in production, 53 in sales, and 158 in technical roles[146]. - Employee salaries increased by 7% compared to 2020, with performance assessments linking individual income to company performance metrics[147]. - A total of over 6,000 employee training sessions were conducted during the year, accumulating 79,000 training hours to enhance overall employee skills[148]. - The company has established a comprehensive training system to improve management and operational skills, aligning with strategic development needs[148]. Financial Position and Investments - The company's cash and cash equivalents increased by ¥1,791,722,528.08 in 2021, a growth of 58.63% compared to ¥1,129,520,343.93 in 2020[82]. - The total investment amount for the reporting period reached ¥1,704,243,358.50, a significant increase of 581.70% compared to ¥250,000,000.00 in the same period last year[88]. - The company has established a management system for foreign exchange hedging to control risks associated with market fluctuations[94]. - The company has reported a cumulative investment of CNY 777.61 million in its projects, with an expected return of CNY 783.86 million[92].