JIUDING(SZ:002201)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,497,680,458.07, a decrease of 10.36% compared to 2020[21]. - The net profit attributable to shareholders for 2021 was ¥41,322,244.99, an increase of 19.72% year-over-year[21]. - The net profit after deducting non-recurring gains and losses was ¥31,029,376.29, representing a 49.66% increase from the previous year[21]. - The net cash flow from operating activities decreased by 67.65% to ¥63,331,436.03 in 2021[21]. - The basic earnings per share for 2021 was ¥0.09, up 28.57% from ¥0.07 in 2020[21]. - Total assets at the end of 2021 were ¥2,490,960,710.27, a slight decrease of 0.37% from the previous year[21]. - The net assets attributable to shareholders increased by 4.01% to ¥1,015,412,846.37 at the end of 2021[21]. - The company achieved a total operating revenue of CNY 1.498 billion in 2021, a decrease of 10.36% compared to the previous year[48]. - The net profit attributable to shareholders was CNY 413.22 million, an increase of 19.72% year-on-year[46]. - Sales revenue from fiberglass and its products reached CNY 996.99 million, up 29.34% year-on-year[48]. - The sales revenue from fiberglass reinforced plastic products decreased by 50.10% to CNY 42.27 million[46]. - The company reported a significant recovery in demand for fiberglass yarn products, resulting in a 49.65% increase in annual revenue to CNY 407.56 million[46]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.17 RMB per 10 shares to all shareholders, based on a total of 465,454,458 shares[6]. - The profit distribution plan includes a cash dividend of 0.17 CNY per 10 shares (tax included) and a capital reserve increase of 4 shares for every 10 shares held, based on a total share capital of 465,454,458 shares[144]. - The total cash dividend amount is 7,912,725.79 CNY, which accounts for 100% of the total profit distribution amount[143]. Corporate Structure and Governance - The company has undergone a name change from Jiuding New Materials to Zhengwei New Materials on November 11, 2021[16]. - The company reported no changes in its main business since its establishment in 1994[19]. - The company’s actual controller is Wang Wenyin, following changes in its major shareholder structure[19]. - The company has established a complete independent financial department and accounting system, ensuring no non-operational occupation of funds or assets by shareholders or related parties[113]. - The company has a well-functioning governance structure, including a shareholders' meeting, board of directors, and supervisory board, operating independently from all related enterprises[113]. - The company emphasizes risk awareness among investors regarding the differences between plans, forecasts, and commitments, as well as the nature of counterparties and market reactions[105]. Research and Development - The company has obtained a total of 36 patents in the last three years, with 10 patents granted in 2021 alone, indicating a strong focus on innovation and technology development[42]. - The company is actively involved in the research and development of new technologies related to fiberglass and composite materials[85]. - The company aims to enhance product quality and stability through ongoing R&D projects, including automated production technologies[61]. - R&D investment amounted to ¥75,157,537.31 in 2021, an increase of 5.76% compared to ¥71,066,702.68 in 2020, representing 5.02% of operating revenue[63]. - The number of R&D personnel decreased by 14.61% from 445 in 2020 to 380 in 2021, with the proportion of R&D personnel in the company dropping from 19.53% to 16.97%[63]. Environmental Compliance and Sustainability - The company has complied with environmental protection laws and obtained necessary permits, including a pollution discharge permit valid until July 28, 2026[152]. - The company reported an environmental protection investment of CNY 11.47 million in 2021, primarily for air and wastewater treatment facilities and monitoring expenses[161]. - The company maintained compliance with all reported emissions, indicating effective pollution control measures[153]. - The company has implemented a closed gas transportation system to minimize dust emissions during production[158]. - The company emphasizes the protection of shareholder and creditor rights, ensuring equal status and legal rights for all shareholders, particularly minority shareholders, through combined on-site and online voting at shareholder meetings[163]. Market and Industry Outlook - The company plans to expand its market presence in the fiberglass industry, which is experiencing continuous growth in domestic scale and high concentration of global capacity[87]. - The company anticipates continued expansion in downstream applications of fiberglass, with ongoing growth potential in various industries[87]. - The global glass fiber market is expected to grow from 8 million tons to nearly 10 million tons, with a CAGR of 7.3%[94]. - The demand for glass fiber in the construction sector accounts for approximately 35% of total glass fiber demand, with significant applications in GRC boards, insulation boards, and waterproofing materials[94]. Operational Efficiency and Innovations - The company has made significant advancements in the field of fiberglass, with patents related to various applications including energy, construction, and environmental protection[42]. - The company has a strong focus on automation, as evidenced by the development of an integrated production line for automated forming, picking, and inspection of grinding net pieces[44]. - The company has implemented a semi-automatic grinding technology, significantly improving production efficiency and reducing labor hours[63]. - The introduction of a new lifting clamp for large blades improved the demolding efficiency, achieving zero defects and reducing the demolding time to 15 minutes[63]. Employee and Management Information - The company had a total of 2,239 employees at the end of the reporting period, with 1,339 in the parent company and 900 in major subsidiaries[138]. - The management team includes experienced individuals, with the average age of directors being around 51 years[128]. - The company emphasizes employee training and development, implementing a multi-faceted training system to support career growth[140]. - The company adopts a "customer first" principle, focusing on improving customer service quality and satisfaction as a key operational goal[164]. Strategic Initiatives and Future Plans - The company aims to become a leader in the functional materials industry under the carbon neutrality strategy, focusing on high-quality development and innovation[101]. - The company plans to enhance operational management and ensure revenue growth while pursuing necessary mergers and acquisitions[102]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million yuan for potential deals[123]. - The company plans to enhance its digital marketing strategy, expecting a 25% increase in online sales[123].