SD HEAD(SZ:002810)2022-04-25 16:00Financial Performance - The company reported a total revenue of RMB 342,576,040 for the year 2021, with a cash dividend of RMB 1.00 per 10 shares distributed to shareholders[6]. - The company's operating revenue for 2021 was ¥1,560,494,123.17, representing a year-over-year increase of 19.22% compared to ¥1,308,887,972.69 in 2020[27]. - The net profit attributable to shareholders for 2021 was ¥329,535,275.42, reflecting a growth of 30.65% from ¥252,234,001.26 in 2020[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥314,713,750.80, up 31.45% from ¥239,408,919.86 in 2020[27]. - The net cash flow from operating activities for 2021 was ¥455,552,880.98, an increase of 17.66% compared to ¥387,177,260.51 in 2020[27]. - The basic earnings per share for 2021 was ¥0.97, which is a 22.78% increase from ¥0.79 in 2020[27]. - The total assets at the end of 2021 were ¥2,635,527,092.73, a significant increase of 55.98% from ¥1,689,640,259.82 at the end of 2020[31]. - The net assets attributable to shareholders at the end of 2021 were ¥1,548,237,528.00, up 28.66% from ¥1,203,395,144.00 at the end of 2020[31]. - The diluted earnings per share for 2021 was ¥0.97, which represents a 24.36% increase from ¥0.78 in 2020[31]. - The company achieved a total revenue of CNY 1,560,494,123.17 in 2021, representing a year-on-year growth of 19.22%[100]. - Net profit attributable to shareholders reached CNY 32,953,530.00, an increase of 30.65% compared to the previous year[100]. Business Operations - The company has maintained its main business operations without any significant changes since its listing[25]. - The company has not faced any substantial risks that could materially impact its operations during the reporting period[6]. - The company has not undergone any changes in its controlling shareholders during the reporting period[25]. - The company’s registered address is located at 999 Heda Road, Zhoucun District, Zibo City, Shandong Province[20]. - The company’s stock is listed on the Shenzhen Stock Exchange under the code 002810[20]. - The company has a total of 342,576,040 shares outstanding as of the reporting date[6]. Risk Management - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management team[5]. - The company's future plans and performance forecasts are subject to risks and should be approached with caution by investors[6]. - The company has established effective risk management procedures for derivative investments[146]. - The company is actively managing foreign exchange risks associated with its derivative investments[144]. Research and Development - The company has developed a comprehensive range of non-ionic cellulose ether products over 20 years, becoming the largest supplier in China and among the top four globally[52]. - The company has 15 patents, including 4 national invention patents for hydroxypropyl methylcellulose (HPMC) capsules, enhancing its competitive edge in product development[75]. - The company’s R&D expenses have shown a year-on-year growth trend, supporting continuous product upgrades and technological innovation[75]. - R&D investment amounted to ¥70,801,391.52 in 2021, representing a 20.61% increase compared to ¥58,703,197.37 in 2020[124]. - The number of R&D personnel increased by 20.63% from 160 in 2020 to 193 in 2021[122]. - The company completed several R&D projects, including the development of specialized cellulose ethers for disinfectant gels and plant-based meat, enhancing product application and value[116]. Market Demand and Trends - The company is positioned to benefit from the increasing demand for cellulose ether in various industries, driven by urbanization and infrastructure development in China[44]. - The demand for pharmaceutical-grade cellulose ether is expected to grow significantly due to the increasing focus on drug safety and the shift towards plant-based capsules following past safety incidents[46]. - The future market demand for pharmaceutical-grade cellulose ether and HPMC plant capsules is expected to continue rising, driven by national industrial development policies[49]. - The domestic market for food-grade cellulose ether is still in the promotion stage, with low usage rates due to consumer awareness and high prices, but demand is expected to rise as health consciousness increases[50]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, meeting legal requirements for structure and governance[167]. - The company has maintained a 100% independent financial accounting system, with no shared bank accounts with the controlling shareholder[174]. - The company has implemented a strict internal audit system to ensure the authenticity and completeness of its financial operations[169]. - The company has established a dedicated investor relations management system to ensure timely and accurate information disclosure[169]. Management Changes - The company experienced a significant turnover in management, with multiple executives resigning for personal reasons or job changes during the reporting period[185]. - The total shareholding changes among executives indicate a strategic realignment within the management team[185]. - The company continues to emphasize transparency in its management changes and shareholding adjustments[185]. Environmental and Social Responsibility - The company has invested in environmental protection technologies, significantly reducing water consumption and emissions, ensuring compliance with environmental regulations[90]. - The management team has emphasized the importance of sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[192]. - Environmental protection regulations may increase operational costs, and the company is committed to improving its environmental management systems[159].