Financial Performance - The company's operating revenue for 2021 was CNY 657,160,020.80, representing a 46.91% increase compared to CNY 447,314,622.27 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 17,948,109.83, up 36.15% from CNY 13,182,608.80 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 14,998,806.19, reflecting a 17.31% increase from CNY 12,785,450.82 in 2020[19] - The basic earnings per share for 2021 was CNY 0.0293, a 36.28% increase from CNY 0.0215 in 2020[20] - The total assets at the end of 2021 were CNY 992,377,094.35, a decrease of 1.75% from CNY 1,010,062,108.61 at the end of 2020[20] - The net assets attributable to shareholders increased by 2.19% to CNY 839,981,371.27 at the end of 2021, compared to CNY 822,017,035.36 at the end of 2020[20] - The net cash flow from operating activities was negative CNY 34,809,678.63, a decline of 207.05% from CNY 32,516,430.47 in 2020[19] - The weighted average return on equity for 2021 was 2.16%, up from 1.62% in 2020[20] Revenue Breakdown - The chemical business generated revenue of CNY 473,776,207.52, with a cost of CNY 400,336,018.71, reflecting increases of 18.71% and 18.03% respectively[39] - The water treatment business reported revenue of CNY 28,462,555.70, a 204.22% increase, with costs rising by 129.44% to CNY 23,308,614.88, marking a turnaround to profitability[39] - The revenue from the chemical raw materials and chemical products manufacturing industry was ¥473,776,207.52, accounting for 72.09% of total revenue, with a year-on-year growth of 18.71%[44] - The revenue from environmental water treatment surged by 204.22% to ¥28,462,555.70, increasing its share of total revenue to 4.33%[44] Cash Flow and Investments - The net cash flow from operating activities turned negative at approximately CNY -34.81 million, a decrease of 207.05% from a positive CNY 32.52 million in the previous year[67] - Investment activities generated a net cash inflow of approximately CNY 119.47 million, a significant increase of 1,254.86% from CNY 8.82 million in 2020[67] - The company's cash and cash equivalents increased by approximately CNY 36.62 million, a 225.74% improvement from a decrease of CNY -29.13 million in the previous year[67] Research and Development - The company filed 12 patents and received 4 patents in the reporting year, bringing the total to 28 patents[33] - The company's research and development expenses increased by 25.00%, rising from 17,918,195.32 yuan in 2020 to 22,397,556.64 yuan in 2021[60] - The number of R&D personnel remained stable at 69, accounting for 14.08% of the total workforce in 2021, a slight decrease from 14.65% in 2020[65] - Development of a new salt-resistant polymer fracturing fluid system is underway, aimed at expanding the company's product market[61] Market Expansion and Strategy - The company aims to enhance overall profitability and sustainable development by focusing on technological innovation, market expansion, and management improvement[30] - The company has implemented strategies to stabilize its main business while exploring new business opportunities amid a competitive chemical industry[31] - The company plans to enhance its product structure and upgrade product performance to address challenges in overseas markets, including trade sanctions and shipping difficulties[50] - The company plans to enhance market expansion in oilfield products, focusing on surfactants and offshore oilfield additives, while also targeting water treatment and paper-making markets[92] Governance and Management - The company has established a complete independent financial management system, ensuring no financial interference from the controlling shareholder[104] - The company has a fully independent operational structure, with no overlapping personnel with the controlling shareholder[104] - The company has implemented effective internal control measures to enhance management efficiency and risk prevention capabilities[102] - The company has a diverse board composition, with a mix of independent and internal directors, promoting a balanced approach to governance[121] Environmental and Safety Management - The company has established a wastewater treatment facility with a capacity of 1,200 cubic meters per day, which is currently operating normally[150] - The company has implemented ultra-low emission modifications for its 40T/H boiler, which is equipped with desulfurization and denitrification devices[150] - The company has committed to maintaining shareholder interests through regular information disclosure and investor relations activities[154] - The company emphasizes the importance of safety and environmental protection, aiming for zero safety incidents throughout the year[92] Risks and Challenges - The company faces risks related to oil price fluctuations, high customer concentration, and raw material price volatility, which could impact its financial performance[94] - The company has reported various risks faced during operations, which are detailed in the management discussion and analysis section[4] Employee and Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 919.94 million[120] - The performance-based compensation for internal directors and executives is determined based on operational performance, reflecting the company's commitment to aligning pay with performance[119] - The company has implemented a performance-based compensation system, aligning employee incentives with company performance[136] Shareholder and Board Activities - The company held its annual shareholders' meeting on May 13, 2021, with a participation rate of 16.16%[106] - The board of directors convened nine meetings in 2021, discussing various important matters including the 2020 annual report and the 2021 first-quarter report[101] - The company has experienced changes in its board of directors, with multiple resignations and new appointments in 2021[110] Financial Reporting and Compliance - The company reported zero significant defects in financial reporting and internal controls for the year 2021[146] - The company has a complete governance structure in place, ensuring compliance with laws and regulations, with no serious violations reported[145] - The company has not faced any penalties from securities regulatory agencies in the past three years[118]
宝莫股份(002476) - 2021 Q4 - 年度财报