YZNM(SZ:002652)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥656,664,778.91, representing a decrease of 48.21% compared to ¥1,267,985,888.15 in 2020[21]. - The net profit attributable to shareholders was -55,980,852.72 CNY, a 53.67% improvement compared to -120,824,594.19 CNY in the previous year[22]. - Operating revenue for 2021 was 656,664,778.91 CNY, down 48.3% from 1,267,985,888.15 CNY in 2020[23]. - The net cash flow from operating activities was -194,832,749.53 CNY, a decline of 469.81% compared to 52,683,861.66 CNY in the previous year[22]. - The basic and diluted earnings per share were both -0.110 CNY, a 54.17% improvement from -0.240 CNY in 2020[22]. - Total assets decreased by 26.99% to 748,811,658.72 CNY from 1,025,580,376.36 CNY in 2020[22]. - The net assets attributable to shareholders decreased by 17.46% to 264,715,829.78 CNY from 320,696,682.50 CNY in 2020[22]. - The company reported a significant increase in non-operating income from financial assets, amounting to 1,078,069.99 CNY in 2021[30]. - The company achieved operating revenue of 657 million yuan in 2021, a decrease of 48.21% compared to the previous year, primarily due to the exclusion of revenues from subsidiaries Xin Yongfeng and Balote in the current reporting period[44]. - The revenue from organic coated boards was RMB 612,252,468.16, representing 93.24% of total revenue, with a year-on-year increase of 21.57%[53]. - The company’s operating costs for the metal products sector were RMB 613,566,290.92, resulting in a gross margin of 6.56%, down from the previous year[56]. Corporate Governance - The company has not changed its main business since its listing[20]. - The company’s largest shareholder, Nanning Yiran, holds 153,600,000 shares, accounting for 29.9963% of the total share capital[20]. - The company has engaged Chongqing Kanghua Accounting Firm for auditing services[21]. - The company’s financial report has been audited with a reserved opinion by the accounting firm[6]. - The company maintains independent operational capabilities, with complete independence in business, personnel, assets, institutions, and finance from the controlling shareholder[88]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[88]. - The company has established a performance evaluation and incentive mechanism, successfully implementing the "Compensation Performance Management Measures"[89]. - The company respects and protects the legitimate rights and interests of stakeholders, promoting balanced interests among society, shareholders, employees, and the company[89]. - The company adheres to strict information disclosure obligations, ensuring accurate, complete, and timely information is provided to investors, enhancing transparency[89]. - The company has a structured supervisory board consisting of 3 supervisors, ensuring effective oversight of directors and senior management[88]. - The company has not encountered significant discrepancies between its governance practices and the regulations set forth by the China Securities Regulatory Commission[90]. - The company has a clear governance structure with established committees, including a strategic committee and an audit committee, to enhance decision-making processes[88]. Risk Management - The company may face risks in 2022, including fluctuations in raw material prices, market demand risks, and impacts from the COVID-19 pandemic[6]. - The company faces risks from raw material price fluctuations, particularly in the steel industry, and has established long-term relationships with suppliers to mitigate these risks[81]. - The company is also exposed to market demand risks linked to the construction, transportation, and home appliance sectors, and plans to enhance product variety and communication with clients[82]. - The company is monitoring the impact of the ongoing COVID-19 pandemic, which is expected to adversely affect production and operations[84]. Strategic Initiatives - The company completed the trial production of environmentally friendly PVDF and further developed GMP-specific color-coated boards for the pharmaceutical industry during the reporting period[43]. - The company obtained 10 patent certificates during the reporting period, with a total of 23 invention patents and 13 utility model patents as of December 31, 2021[40]. - The company is committed to environmental protection, completing the installation of online monitoring equipment for wastewater treatment and standardizing hazardous waste storage facilities[43]. - The company is actively promoting the sale of its 51% stake in Russian United, with the asset sale expected to constitute a major asset restructuring, despite challenges posed by the COVID-19 pandemic and the Russia-Ukraine war[48]. - The company completed the acquisition of Binan Co., holding 51% of its shares, marking a significant strategic move into the urban services sector[51]. - The company plans to ensure stable operations in the new materials business and aims to achieve breakthroughs in more related segments to strengthen its industry position[79]. - The company will actively seek new profit growth points in industries supported by national policies, moving away from urban services as a main business direction[80]. - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[96]. - The company is actively seeking opportunities for mergers and acquisitions to strengthen its market position[96]. Human Resources - The company has established a talent strategy combining internal development and external recruitment to enhance its human resources and management capabilities[39]. - The company reported a total of 202 employees at the end of the reporting period, with 38 in the parent company and 164 in major subsidiaries[122]. - The employee composition includes 99 production personnel, 26 sales personnel, 19 technical personnel, 9 financial personnel, and 49 administrative personnel[122]. - The company maintains a competitive salary policy to attract and retain talent, ensuring key positions are aligned with market salary levels[124]. - The training program includes onboarding for new employees and ongoing training for production and operational staff, achieving 100% coverage of key regulations and safety protocols[125]. - The company plans to increase its workforce by 15% in 2022 to support growth initiatives and enhance operational efficiency[103]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities, with specific pollutants monitored[138]. - The company reported a total discharge of COD at 748.32 tons, with no exceedance of discharge standards[138]. - The ammonia nitrogen discharge was recorded at 27.63 tons, slightly above the standard of 25 mg/l, but no exceedance was reported[138]. - The company’s wastewater treatment system ensures that all indicators meet municipal sewage treatment plant standards before discharge[141]. - The company has an effective pollution discharge permit valid from April 29, 2020, to April 28, 2023[142]. - The company has implemented a VOC organic waste gas online monitoring device to ensure compliance with emission standards[141]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[145]. Shareholder Relations - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[7]. - The company has not proposed any cash dividend distribution during the reporting period, despite having positive distributable profits[128]. - There were no adjustments or changes to the cash dividend policy during the reporting period, ensuring stability for shareholders[128]. - The company emphasizes the protection of shareholder and creditor rights, ensuring transparency and participation in major decisions[147]. Audit and Compliance - The company received a public reprimand from the Shenzhen Stock Exchange on September 28, 2021, for significant discrepancies between the 2020 annual performance forecast and the actual net profit reported[105]. - The company faced disciplinary actions in 2020 for failing to timely correct significant discrepancies in the 2019 annual performance forecast[106]. - The company received a qualified audit opinion from Chongqing Kanghua Accounting Firm for the 2021 financial statements, indicating potential risks that the board will address to protect shareholder interests[159]. - The company emphasizes the importance of investor caution regarding the risks highlighted in the audit report[160]. - The company has not made any changes to the scope of consolidation compared to the previous year's financial report, except for the establishment and deregistration of subsidiaries[166]. - The company has changed its accounting firm for the 2021 financial audit to Chongqing Kanghua Accounting Firm due to the previous firm's saturation of audit business[168].