章源钨业(002378) - 2021 Q4 - 年度财报

Financial Performance - The company reported a total revenue of RMB 924,167,436 for the year 2021, with a cash dividend of RMB 1.00 per 10 shares to all shareholders[7]. - The company's operating revenue for 2021 was ¥2,664,432,290.41, representing a 37.97% increase compared to ¥1,931,225,157.35 in 2020[30]. - The net profit attributable to shareholders in 2021 was ¥165,000,766.10, a significant increase of 343.84% from ¥37,175,924.88 in 2020[30]. - The net profit after deducting non-recurring gains and losses was ¥131,267,027.06, a remarkable increase of 703.90% compared to -¥21,736,691.37 in 2020[30]. - The company's total assets at the end of 2021 were ¥4,574,576,721.79, up 17.17% from ¥3,904,307,172.62 at the end of 2020[30]. - The net assets attributable to shareholders increased by 11.22% to ¥1,874,465,566.85 at the end of 2021 from ¥1,685,408,179.24 at the end of 2020[30]. - The weighted average return on equity for 2021 was 9.31%, an increase of 7.11 percentage points from 2.20% in 2020[30]. - The company reported a diluted earnings per share of ¥0.18 in 2021, a 350.00% increase from ¥0.04 in 2020[30]. - The company achieved operating revenue of 2.664 billion CNY in 2021, a year-on-year increase of 37.97%[87]. - The net profit attributable to shareholders reached 165 million CNY, up 343.84% compared to the previous year[87]. Business Operations - The company has not changed its main business since its listing, indicating stability in operations[28]. - The company has no changes in its controlling shareholders, reflecting consistent ownership structure[28]. - The company has not engaged in any mergers or acquisitions during the reporting period, maintaining its current operational focus[28]. - The company operates a complete integrated production system from tungsten mining to deep processing, making it one of the few manufacturers with a complete tungsten industry chain in China[2]. - The company has subsidiaries including Ganzhou Aoketai Tool Technology Co., Ltd. and Dream Plus Co., Ltd., indicating a diversified business structure[19]. - The company has established a procurement model with approximately 25% self-sufficiency in raw materials, ensuring stable supply through long-term partnerships with quality suppliers[4]. - The company has six mining rights, with three mines recognized as national "green mines," emphasizing its commitment to sustainable mining practices[5]. - The company has achieved international advanced levels in hard alloy tool manufacturing and coating equipment, enhancing its competitive edge in the market[6]. - The company’s deep processing products are sold through a combination of direct sales and distribution, with some industries utilizing customized services[7]. Research and Development - The company applied for 50 patents during the reporting period, with 31 patents granted, including 7 invention patents[82]. - The company’s R&D team consists of over 400 personnel, focusing on technological innovation and collaboration with universities to enhance research capabilities[81]. - A total of 37 R&D projects were conducted, with 30 being self-initiated, leading to the development of 330 new products, including 5 smelting products and 13 powder products[95]. - The company has completed several key R&D projects focused on improving production processes and enhancing environmental protection[131]. - The company has developed a new type of nano hard alloy bar with a cobalt content of 9% and a hardness of 93.5-94.5 HRA, achieving a TRS of ≥ 3800 MPa[140]. - The company has developed tungsten-based shielding materials, completing small batch experiments and designing over three promising types of tungsten-based shielding materials, which will enrich the product line and increase market share[143]. Market and Sales - The average price of tungsten concentrate (WO3≥65%) in 2021 was ¥102,000 per ton, a 22.16% increase from the previous year's average[44]. - The sales revenue from coated blades was 195.91 million CNY, a 44.37% increase year-on-year, while bar sales revenue reached 195.83 million CNY, growing by 107.69%[87]. - The company ranked second in domestic tungsten powder production and second in carbide tungsten powder production according to the 2021 statistics from the China Tungsten Industry Association[67]. - Domestic sales accounted for 78.16% of total revenue, while international sales increased to 21.84%, marking a growth of 47.52% year-on-year[114]. - The sales volume of tungsten products rose by 45.31%, with production volume increasing by 40.87%[115]. - The company is actively expanding its market presence in high-end materials and advanced manufacturing sectors, aligning with national strategic initiatives[10]. Financial Management - The company’s financial statements are audited by Tianjian Accounting Firm, ensuring compliance and reliability in financial reporting[29]. - The company is focused on risk management, particularly regarding macroeconomic fluctuations and market demand uncertainties, to mitigate potential impacts on performance[197]. - The company faces risks from fluctuations in raw material prices, which could impact production costs and overall business performance[198]. - The company conducts regular research and analysis on tungsten product market prices and cost structures to mitigate risks associated with raw material price volatility[198]. - The company actively adjusts raw material inventory based on market changes to ensure normal production needs are met[198]. Sustainability and Environmental Practices - The company is advancing green smelting processes and developing high-value-added tungsten products to meet diverse customer needs[184]. - The implementation of a new green smelting technology is expected to reduce wastewater discharge by 80% and increase tungsten recovery rates to over 98.5%[95]. - The company has achieved a tungsten recovery rate of over 95% from grinding waste in the alloy grinding material recycling process[132]. - The project for researching the mechanism of ion-type rare earth ore bed rock mechanics has been completed, providing theoretical references for ecological protection and restoration[134].