FENGYUAN(SZ:002805)2022-04-27 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-on-year increase of 15%[5] - The net profit attributable to shareholders was 177 million RMB, an increase of 20% compared to the previous year[5] - In 2021, the company's operating revenue reached ¥803,047,710.89, representing a 124.78% increase compared to ¥357,263,903.73 in 2020[18] - The net profit attributable to shareholders was ¥53,090,239.10, a significant turnaround from a loss of ¥29,202,999.58 in 2020, marking a 281.80% increase[18] - The revenue from lithium battery cathode materials accounted for 68.70% of total revenue in 2021, up from 36.84% in 2020, indicating a strategic shift in the company's main business focus[18] - The revenue from oxalic acid was ¥251,375,824.91, with a year-on-year growth of 23.84%[64] - The revenue contribution from lithium battery cathode materials to total revenue increased to 68.70%, marking a significant shift in the company's main business focus[76] - The company reported a total revenue of 64.33 million in 2020, which increased to 60.62 million in 2023, indicating a decline of approximately 5.3%[130] Market Expansion and Strategy - The company is focusing on expanding its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[5] - The company plans to continue expanding its lithium battery materials business, which is expected to drive future revenue growth[18] - The company is actively expanding its market presence and deepening cooperation with high-value customers in the lithium battery sector[59] - The company is actively exploring international markets, having established an office in South Korea to facilitate technical exchanges with LG and SK[113] Research and Development - The company has allocated 100 million RMB for research and development in new technologies for battery materials[5] - The company has invested significantly in R&D, acquiring advanced research equipment to enhance its innovation capabilities[51] - The company is focusing on the research and development of next-generation lithium battery cathode materials, aiming to solve key issues in NCA material technology development and industrialization[53] - The company has established a provincial-level oxalic acid engineering technology research center to enhance its research and development capabilities[50] - The company has increased R&D funding to support technological development and innovation[51] - The company applied for a total of 113 patents, including 32 invention patents and 73 utility model patents, as part of its innovation strategy[61] Production Capacity and Operations - The production capacity of lithium iron phosphate (LFP) materials is expected to reach 100,000 tons by the end of 2022, with ongoing expansions at multiple bases[32] - The company has a total production capacity of 100,000 tons per year for industrial oxalic acid, refined oxalic acid, and oxalic acid derivatives, maintaining a leading market share[36] - The company has a total production capacity of 100,000 tons per year for oxalic acid, with 85,000 tons for industrial oxalic acid, 10,000 tons for refined oxalic acid, and 5,000 tons for oxalic acid derivatives[44] - The company's cathode material production capacity is 17,000 tons, with a utilization rate of 37.46%, and an additional 33,000 tons under construction[53] Financial Management and Governance - The company has established a clear and independent governance structure, with distinct roles and responsibilities among the shareholders' meeting, board of directors, and management[125] - The company has a robust independent management system for employees, ensuring no overlap with the controlling shareholders' enterprises[125] - The company has established a performance assessment mechanism for senior management to enhance their responsibilities and protect shareholder interests[139] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 24.69 million[139] Environmental Responsibility - The company has made significant investments in pollution control facilities, enhancing its environmental responsibility[167] - The company adheres to environmental protection regulations, ensuring that all construction projects comply with environmental impact assessments and administrative permits[169] - The company has implemented a self-monitoring plan for emissions, regularly testing pollutants such as nitrogen oxides, ammonia, and particulate matter, with results publicly available[170] - The company has installed two sets of SCR (Selective Catalytic Reduction) devices for denitrification in the oxalic acid production process, and has replaced coal-fired boilers with gas-fired boilers[167] Risks and Challenges - Risk factors identified include fluctuations in raw material prices and regulatory changes impacting the chemical industry[5] - The company faces risks from raw material price fluctuations, which could impact operational performance despite established procurement management systems[117] - The competitive landscape in the lithium battery cathode materials sector is intensifying, with new entrants and existing companies expanding capacity[118] - The company is exposed to policy risks, particularly changes in national policies affecting the new energy vehicle industry, which could impact product sales[118] Employee Management - The total number of employees at the end of the reporting period was 463, with 213 in the parent company and 250 in major subsidiaries[148] - The professional composition includes 271 production personnel, 10 sales personnel, 110 technical personnel, 8 financial personnel, and 64 administrative personnel[148] - The company implements a performance-based salary structure, considering factors such as job responsibilities and overall business performance[150] - The company plans to conduct targeted internal training and external learning for employees to enhance their skills and meet strategic needs[151]