BCC(SZ:002455)2022-02-27 16:00Financial Performance - The company reported a significant increase in revenue, driven by strong demand for its chemical products, with total revenue reaching approximately 1.5 billion RMB, representing a year-on-year growth of 15%[39]. - The company's operating revenue for 2021 was approximately ¥4.02 billion, representing an increase of 83.88% compared to ¥2.19 billion in 2020[19]. - The net profit attributable to shareholders for 2021 was approximately ¥228.33 million, a significant increase of 243.58% from ¥66.46 million in 2020[19]. - The net profit after deducting non-recurring gains and losses for 2021 was approximately ¥219.65 million, up 669.57% from ¥28.54 million in 2020[19]. - The net cash flow from operating activities for 2021 was approximately ¥283.77 million, reflecting a 56.10% increase from ¥181.78 million in 2020[19]. - The total assets at the end of 2021 were approximately ¥7.20 billion, an increase of 43.82% from ¥5.01 billion at the end of 2020[19]. - The gross margin for the year improved to 35%, up from 32% in the previous year, reflecting better cost management and pricing strategies[39]. - The company reported a net profit attributable to shareholders of ¥228,330,061.02 for the fiscal year 2021, with distributable profits amounting to ¥559,051,965.73 after accounting for statutory reserves and previous distributions[169]. Research and Development - The company reported a significant focus on research and development of new materials, although specific financial figures were not disclosed in the provided content[14]. - Research and development expenses surged by 115.10% to ¥103,165,377.53, reflecting increased investment in R&D and expenses from Haiji New Energy[74]. - The company is actively researching next-generation electrochemical storage technologies, including solid-state batteries and sodium-ion batteries, to maintain its market position[130]. - The lithium iron phosphate battery technology has shown a 30-40% improvement in cycle life and energy density, enhancing the company's product competitiveness[92]. - The company has developed low-emission, high-yield products such as sodium formate and high-performance propylene glycol ether acetate, recognized as high-tech products in Jiangsu Province[60]. - The company is exploring partnerships with technology firms to innovate in the field of sustainable materials, aiming to launch eco-friendly products by the end of 2022[39]. - The company has established a research and development center covering over 8,600 square meters with equipment valued at nearly 20 million yuan, indicating a commitment to innovation[61]. Market Expansion and Strategy - The company aims to expand its new materials and new energy businesses to mitigate risks associated with traditional fine chemical operations[30]. - The company is focusing on market expansion in Southeast Asia, targeting a 25% increase in market share in this region over the next two years[39]. - The company has initiated a strategic acquisition of a local competitor to enhance its product portfolio and increase market penetration, expected to be completed by Q3 2022[39]. - The company is committed to developing environmentally friendly products to replace traditional toxic and harmful products in the market[30]. - The company plans to leverage its core technology to enhance production of low-toxicity and environmentally friendly products[30]. - The company is actively monitoring national policies related to technological innovation and resource adjustment to seize future development opportunities[30]. Production and Operations - The company operates three major production bases located in Jiangsu, Ningxia, and Jiangyin, enhancing its competitive edge through regional advantages[34]. - The company has ongoing construction projects for an additional 20,000 tons of phthalic anhydride and 30,000 tons of new pentanediol, expected to enhance production capacity[62]. - The production capacity utilization rates for major products are as follows: Acetate esters at 54.35%, Polyols at 101.87%, and Phthalic anhydride and esters at 72.42%[62]. - The company has launched a 50,000-ton needle coke project, which will supply materials for lithium battery anodes and ultra-high power graphite electrodes, catering to the new energy vehicle and energy storage sectors[54]. - The company has developed long-term stable partnerships with multiple integrators in the energy storage industry, with its energy storage cell products applied in various projects[31]. Environmental and Safety Compliance - The company has maintained compliance with environmental regulations, ensuring that emissions meet national standards[127]. - The company has established a self-monitoring scheme for environmental compliance, which is actively implemented[182]. - The company has received environmental impact assessment approvals for projects including 100,000 tons of needle coke and 60,000 tons of graphite materials, reflecting regulatory compliance[63]. - The company emphasizes safety production, having established a complete set of safety management regulations and conducted regular employee training to enhance safety awareness[188]. - The company has not experienced any safety production accidents and has passed all local safety inspections during the reporting period[191]. - The company has implemented environmental monitoring plans and has registered emergency response plans for environmental incidents[182]. Governance and Management - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining a strong internal control system[137]. - The company has established specialized committees within its board to enhance operational governance and decision-making processes[137]. - The company has a commitment to respect and protect the legitimate rights and interests of stakeholders, promoting balanced interests among shareholders, employees, and society[141]. - The company has established a remuneration system approved by the board, linking pay to performance evaluations conducted by the remuneration and assessment committee[151]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring complete business autonomy[140]. Financial Management - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares (including tax) to all shareholders[4]. - The cash dividend distribution accounted for 100% of the total profit distribution amount, adhering to the minimum requirement of 20% for cash dividends in significant capital expenditure scenarios[169]. - The company has not engaged in any securities or derivative investments during the reporting period[106][107]. - The company has a total of 26.17 million in unused raised funds, which is 62.74% of the total amount raised in 2017[109]. - The company has committed to using the raised funds for specific projects, with no changes in purpose reported[110]. Employee Management - The total number of employees at the end of the reporting period is 2,113, with 1,627 in production, 38 in sales, 227 in technical roles, 37 in finance, and 184 in administration[164]. - The company emphasizes a competitive, fair, and performance-oriented salary policy, aligning with its development strategy[165]. - Employee training programs are established to enhance skills and management quality, combining internal and external training methods[167]. - The company has no retired employees requiring financial support, indicating a fully active workforce[164]. Future Outlook - The company projects a revenue growth of 10-15% for the next fiscal year, supported by expanding production capacity and new product launches[39]. - The management has set ambitious performance guidance for the upcoming year, targeting a revenue growth of over 20%[148]. - The company aims to strengthen its existing main business while expanding into new materials and renewable energy sectors[122]. - The company is actively pursuing mergers and acquisitions to strengthen its competitive position in the industry[149].