长青股份(002391) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was approximately CNY 3.76 billion, representing a 25.15% increase compared to CNY 3.01 billion in 2020[18]. - The net profit attributable to shareholders for 2021 was approximately CNY 248.53 million, an increase of 27.48% from CNY 194.96 million in 2020[18]. - The net profit after deducting non-recurring gains and losses was approximately CNY 241.05 million, reflecting a 35.92% increase from CNY 177.35 million in 2020[18]. - The net cash flow from operating activities for 2021 was approximately CNY 428.70 million, up 23.50% from CNY 347.13 million in 2020[18]. - The total assets at the end of 2021 were approximately CNY 6.87 billion, a 20.98% increase from CNY 5.67 billion at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were approximately CNY 4.50 billion, a 3.31% increase from CNY 4.35 billion at the end of 2020[18]. - The basic earnings per share for 2021 were CNY 0.3785, representing a 22.73% increase from CNY 0.3084 in 2020[18]. - The weighted average return on equity for 2021 was 5.63%, an increase of 0.90% from 4.73% in 2020[18]. Revenue Breakdown - The company's total revenue for the year was approximately 3.76 billion yuan, with a quarterly breakdown showing Q1 at 735.17 million yuan, Q2 at 1.11 billion yuan, Q3 at 755.97 million yuan, and Q4 at 1.16 billion yuan[22]. - The net profit attributable to shareholders for the year was approximately 248.54 million yuan, with quarterly figures of 56.58 million yuan in Q1, 106.35 million yuan in Q2, 72.89 million yuan in Q3, and 12.72 million yuan in Q4[22]. - The pesticide segment generated ¥3,683,279,404.13, accounting for 97.84% of total revenue, with a year-on-year growth of 25.78%[73]. - Herbicide sales amounted to ¥1,523,687,310.56, a 26.48% increase from ¥1,204,706,915.15 in 2020, representing 40.47% of total revenue[76]. - Direct exports contributed ¥1,441,454,950.63, a 20.38% increase from ¥1,197,417,962.55 in 2020, accounting for 38.29% of total revenue[76]. Market Position and Strategy - The company ranks 20th among the top 100 pesticide sales companies in China according to the 2021 list published by the China Pesticide Industry Association[32]. - The company is focusing on the development of high-efficiency, low-toxicity, and low-residue new pesticides, which are expected to have significant market potential[30]. - The pesticide industry is undergoing accelerated consolidation towards larger-scale operations, driven by increased competition and environmental pressures[29]. - The company has seen a shift in global pesticide production towards emerging markets like China, which now accounts for about one-third of global pesticide production[29]. - The company is actively pursuing clean production technologies to reduce emissions and production costs, aligning with national policies on low-carbon and circular economies[31]. Research and Development - The company has successfully created 30 new pesticide varieties with independent intellectual property rights, achieving a cumulative promotion area of over 300 million mu[31]. - The company has a strong focus on independent research and development, supported by multiple patents for its products[50]. - The company has established partnerships with numerous research institutions for technological innovation and product development[57]. - The company’s total research and development investment reached ¥154,720,244.00, a 16.68% increase compared to the previous year[86]. - Research and development expenses increased by 17.08% to ¥150,321,311.41, primarily due to increased investment in new products and technologies[84]. Environmental Compliance - The company has implemented a comprehensive environmental management system, achieving ISO14001 certification[61]. - The company has invested in environmental protection measures, ensuring compliance with increasingly stringent regulations[60]. - The company has established comprehensive environmental management systems and emergency response plans to ensure compliance with pollution discharge standards[179]. - The company reported continuous emissions of particulate matter at RTO discharge point with a concentration of 22.11 mg/m3, compliant with national standards[177]. - The company has wastewater treatment capacity of 4,000 tons per day for the parent company and 2,000 tons per day for the subsidiary Jiangsu Changqing Nantong[180]. Corporate Governance - The company has established a complete independent R&D, procurement, production, and sales system, operating independently from its controlling shareholders and related enterprises[133]. - The company has a clear strategy for market expansion and product development, focusing on maintaining its competitive edge in the agricultural chemicals sector[133]. - The company has a strong emphasis on corporate governance, with a structured board and independent oversight to ensure compliance and accountability[143]. - The company has established a comprehensive performance evaluation system for senior management to determine remuneration[144]. - The company has a democratic and transparent decision-making process with a sound internal supervision and feedback system[167]. Future Outlook - Jiangsu Changqing's 2022 revenue target is set at 4.8 billion CNY, representing a 27.5% increase from 2021[116]. - The company aims to achieve a net profit growth in 2022, aligning with its revenue growth target[116]. - The company plans to enhance its internal control systems to ensure sustainable and stable development amid changing external environments[117]. - The company plans to secure funding through bank loans and capital markets to support its expansion projects[118]. - The company plans to maintain a competitive salary and benefits system to attract and retain talent[158].