辉丰股份(002496) - 2021 Q4 - 年度财报

Financial Performance - The company reported a significant fluctuation in total profit for the period, with an overall importance level for the consolidated financial statements set at 20.02 million yuan[7]. - The average total profit over the last three years was approximately 400.40 million yuan, which was used as a basis for determining the importance level of the financial statements[7]. - The company's operating revenue for 2021 was CNY 1,095,481,169.58, a decrease of 35.14% compared to CNY 1,688,964,801.86 in 2020[36]. - The net profit attributable to shareholders for 2021 was CNY 307,740,641.70, a significant increase of 207.99% from a loss of CNY 290,549,528 in 2020[36]. - The cash flow from operating activities decreased by 70.00% to CNY 74,254,869.02 in 2021, down from CNY 249,992,879.21 in 2020[36]. - The basic earnings per share for 2021 was CNY 0.20, compared to a loss of CNY 0.19 in 2020, marking a 205.26% improvement[36]. - Total assets at the end of 2021 were CNY 3,764,024,800, a decrease of 24.30% from CNY 4,967,032,600 at the end of 2020[36]. - The net assets attributable to shareholders decreased by 1.53% to CNY 2,411,882,951.96 at the end of 2021, down from CNY 2,460,271,090 at the end of 2020[36]. - The company experienced a significant drop in revenue from CNY 1,614,790,714.52 in 2020 to CNY 773,289,198.98 after adjustments in 2021[36]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[36]. Subsidiary Control and Equity Transactions - The company lost control over its subsidiary Shijiazhuang Ruikai Chemical Co., Ltd. since November 1, 2020, due to major disputes regarding the execution of the equity transfer agreement[8]. - The book value of the equity in Shijiazhuang Ruikai at the end of the period was 163.48 million yuan, accounting for 4.35% of the total assets in the consolidated financial statements[10]. - The company transferred 51% equity stakes in both Adama Huifeng (Shanghai) Agricultural Technology Co., Ltd. and Adama Huifeng (Jiangsu) Co., Ltd. to Adama Ltd., realizing disposal gains[9]. - The profit contribution from Shijiazhuang Ruikai for the period from January to October 2020 accounted for 0.86% of the company's total consolidated profit[10]. - The company completed the acquisition of Andermatt Huifeng Jiangsu on December 27, 2021, with a payment of CNY 121,608,100[68]. - The company completed the transfer of 51% equity in Andermatt Huifeng (Jiangsu) Co., Ltd., recognizing a gain of ¥329,234,260.95 from the transaction[101]. - The remaining 49% equity was remeasured at fair value, resulting in a gain of ¥346,401,106.60 after losing control[101]. Environmental Compliance and Litigation - The company faced ongoing litigation related to previous environmental regulation violations, which may significantly impact its financial condition and operating results[12]. - The company recognized an impairment provision for the main production equipment of its subsidiaries, totaling approximately 10,967 million CNY, due to prolonged shutdowns and inability to meet environmental and safety standards[14]. - In 2021, the company added an environmental remediation provision of 6,110 million CNY, bringing the cumulative expenditure on environmental control and remediation to 10,858 million CNY, with a remaining balance of 6,219 million CNY as of year-end[14]. - The company faced a lawsuit with a total claim amount of approximately 13,267.50 million CNY, resulting in an additional provision of 1,092.70 million CNY based on a court ruling that required the company to pay 8,770.70 million CNY in compensation and legal fees[15]. - The company is currently undergoing environmental control and remediation processes, which may significantly impact its financial status and operating results[188]. - The company has established various environmental management systems, including wastewater and waste gas management, to ensure compliance with legal and industry standards[173]. - The company has no reported administrative penalties for environmental issues during the reporting period, indicating effective compliance[175]. Research and Development - The company is actively engaged in R&D for environmentally friendly and efficient agricultural solutions, aligning with industry trends towards sustainable practices[47]. - The company has applied for 19 domestic invention patents and has been granted 6, with 6 PCT international invention patents applied for[55]. - Research and development (R&D) expenses decreased by 18.04% to ¥28,867,114.55 compared to the previous year[72]. - The total R&D investment was ¥41,168,147.50, which is 3.76% of the operating revenue, an increase of 1.07% from the previous year[73]. - The number of R&D personnel decreased by 90.29% to 30, significantly impacting the company's R&D capacity[73]. Corporate Governance and Management - The company maintains complete independence from its controlling shareholders in terms of business, assets, personnel, and finance[111]. - The company has established an independent financial accounting department and a complete accounting system, ensuring no mixed taxation with shareholders[113]. - The company has a robust corporate governance structure that complies with relevant laws and regulations[110]. - The company has appointed new independent directors, ensuring compliance with governance standards[118]. - The company has undergone significant personnel changes, including the resignation of several board members and senior management due to major asset restructuring[119]. - The company has a strong management team with extensive experience in the agricultural chemical industry, including key figures like Zhong Hangen and Pei Boping[121][122]. Social Responsibility and Community Engagement - The company was recognized as the "Most Beautiful Caring Enterprise" by the Charity Association of Dafeng District, Yancheng City in 2021[179]. - The company donated agricultural disaster relief materials to Lankao County, Henan Province, in August 2021, actively participating in disaster relief efforts[179]. - The company contributed to the Jiangsu Guangcai Charity Foundation, promoting social poverty alleviation and public welfare initiatives[179]. - The company is involved in the "Love Aid Tibet" initiative, aligning with national poverty alleviation and rural revitalization efforts[179]. Internal Control and Audit - The company has established a comprehensive internal control system that is effective and updated according to regulatory requirements, with no significant internal control deficiencies reported during the period[152]. - The internal control self-assessment report for 2021 indicates that 100% of the company's total assets and revenue were included in the evaluation scope[154]. - There were no major or important deficiencies identified in the internal control system during the reporting period, with zero instances reported for both financial and non-financial reports[156]. - The internal control audit report confirms that the company maintained effective financial reporting internal controls as of December 31, 2021[158]. - The audit report indicated no significant deficiencies in non-financial reporting controls[167].