Yibin Tianyuan (SZ:002386)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥18.82 billion, a decrease of 13.03% compared to ¥21.65 billion in 2020[22]. - The net profit attributable to shareholders increased significantly to approximately ¥641.07 million, representing a growth of 453.23% from ¥115.88 million in 2020[22]. - The net profit after deducting non-recurring gains and losses reached approximately ¥625.85 million, up 796.58% from ¥69.80 million in the previous year[22]. - The net cash flow from operating activities was approximately ¥1.09 billion, an increase of 38.28% compared to ¥788.65 million in 2020[22]. - Basic earnings per share rose to ¥0.8210, reflecting a 453.23% increase from ¥0.1484 in 2020[22]. - The total assets at the end of 2021 were approximately ¥15.90 billion, an increase of 7.79% from ¥14.75 billion at the end of 2020[22]. - The net assets attributable to shareholders increased to approximately ¥5.65 billion, up 11.97% from ¥5.05 billion at the end of 2020[22]. - The weighted average return on equity was 12.00%, a significant increase from 2.32% in 2020[22]. Strategic Development - The company continues to focus on its development strategy of "one body and two wings," emphasizing chlor-alkali chemicals and new energy battery materials[15]. - The company is focusing on R&D investments to develop new patented products in response to industry risks and rising raw material prices[38]. - The company is focusing on the "one body, two wings" development strategy, emphasizing the advancement of high-function materials and lithium battery materials[41]. - The company has established a strategic cooperation agreement with Ningde Times, resulting in a revenue increase of 6.3 times and a net profit increase of 14 times for its important subsidiary, Yibin Lithium[43]. - The company has established a strategic focus on the lithium battery and new chemical materials industries as part of its long-term growth plan[106]. Production and Capacity - The company achieved a production completion rate of 97% for polyvinyl chloride (PVC) at 401,700 tons in 2021[110]. - The company produced 39,540 tons of caustic soda, completing 95% of its annual plan[110]. - The company plans to produce 300,000 tons of lithium iron phosphate and 400,000 tons of chlorinated titanium dioxide as part of its "14th Five-Year" development strategy[107]. - The company is currently expanding its production capacity with a project involving the construction of a facility for producing 50,000 tons of chlorinated titanium dioxide, with a total investment of ¥366,156,720.98[94]. Research and Development - Research and development expenses increased by 46.62% to approximately ¥228.61 million, driven by enhanced product refinement efforts[75]. - The company has integrated its R&D resources to establish the Tianyuan Science and Technology Innovation Group, focusing on new product development and technological breakthroughs[54]. - The company has signed cooperation agreements with over 10 renowned research institutions and universities to enhance its technological innovation capabilities[54]. - R&D investment increased by 33.46% to ¥244,776,419.32 in 2021, representing 1.30% of total revenue, up from 0.85% in 2020[78]. Environmental Management - In 2021, the company achieved compliance in wastewater, waste gas, and noise emissions, with all solid waste disposed of in accordance with regulations[185]. - The company has established a comprehensive environmental risk management system and conducted 9 company-level and 23 plant-level emergency drills in 2021, achieving zero environmental pollution incidents[188]. - The company has implemented advanced pollution control technologies, including high-efficiency composite bag dust collectors and SNCR denitrification systems, achieving ultra-low emissions of pollutants[186]. - The company maintained a 100% compliance rate for environmental management in construction projects, ensuring simultaneous design, construction, and operation of environmental facilities[200]. Corporate Governance - The company has a total of 11 directors, including 4 independent directors with expertise in accounting, law, and finance[122]. - The company maintains complete independence from its controlling shareholder in terms of personnel, assets, finance, and operations[121]. - The company has established a comprehensive internal control system that effectively guides and supervises its operational decisions[127]. - The company has a diverse board with members holding various positions in other organizations, enhancing its governance[156]. Market Expansion and Innovation - The company is actively pursuing smart manufacturing initiatives, integrating industrial internet and big data technologies to enhance operational efficiency[56]. - The company is investing 100 million yuan in R&D for new technologies aimed at enhancing production efficiency and sustainability[153]. - Market expansion plans include entering two new provinces, targeting a 15% market share in those regions by the end of 2022[153]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for potential mergers and acquisitions[153]. Financial Position and Investments - The company reported a total revenue of 1.5 billion yuan for the fiscal year 2021, representing a year-over-year increase of 12%[153]. - The total distributable profit for the company was 1,280,568,248.87 CNY, indicating a strong profitability position[174]. - The company reported a cash dividend of 2.75 CNY per 10 shares, totaling 214,735,679.67 CNY, which represents 100% of the total profit distribution[174]. - The company has maintained effective internal controls across all significant aspects, ensuring compliance with relevant laws and regulations[176].