RIKE CHEM(SZ:300214)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was ¥2,772,847,325.93, an increase of 21.91% compared to ¥2,274,586,718.45 in 2020[30]. - The net profit attributable to shareholders for 2021 was ¥190,169,628.70, a decrease of 8.15% from ¥207,036,161.13 in 2020[30]. - The net cash flow from operating activities in 2021 was ¥106,960,548.21, down 76.92% from ¥463,349,034.97 in 2020[30]. - The total assets at the end of 2021 were ¥2,892,064,345.84, representing a 27.45% increase from ¥2,269,233,836.41 at the end of 2020[30]. - The net assets attributable to shareholders at the end of 2021 were ¥2,360,999,581.38, up 22.78% from ¥1,922,966,613.32 at the end of 2020[30]. - The basic earnings per share for 2021 was ¥0.47, a decrease of 4.08% from ¥0.49 in 2020[30]. - The weighted average return on equity for 2021 was 8.92%, down 2.36% from 11.28% in 2020[30]. - The company reported a total of ¥3,358,265.38 in non-recurring gains and losses for 2021, compared to ¥5,658,083.10 in 2020[36]. - The company achieved a revenue of CNY 2,772,847,325.93 in 2021, representing a year-on-year growth of 21.91%[62]. - The net profit attributable to shareholders decreased by 8.15% to CNY 190,169,628.7 compared to the previous year[62]. Market and Product Development - The company is focused on expanding its market presence and enhancing its product offerings through research and development initiatives[11]. - The company operates in the plastic modifier and rubber industries, serving downstream sectors such as plastic and rubber processing[40]. - ACR impact modifier sales increased by 17.68% year-on-year, generating revenue of ¥1,290,321,814.54, accounting for 46.53% of total revenue[51]. - ACM low-temperature toughening agent revenue decreased by 4.28% year-on-year to ¥1,382,057,856.7, making up 49.84% of total revenue[51]. - The company is actively expanding its product applications in fine chemicals and new energy materials, aligning with national "carbon neutrality" strategies[64]. - The company is committed to improving product quality and customer relationships, which are crucial for maintaining its market position[44]. - The company is focused on producing low VOC adhesives, responding to increasing environmental regulations and market demand[83]. Research and Development - The company has 23 invention patents and 20 utility model patents, enhancing its technological advantage[60]. - R&D expenses surged by 72.52% to ¥24,492,711.72 in 2021 from ¥14,196,823.74 in 2020, reflecting the company's commitment to innovation[81]. - R&D investment amounted to ¥49,783,210.48 in 2021, representing 1.80% of total revenue, up from 1.48% in 2020[83]. - The company launched 3 new invention patents during the reporting period, enhancing its core competitiveness through continuous technological innovation[65]. - The R&D team is working on a high-flow, high-viscosity foaming agent to enhance product performance and meet specific industry needs[82]. Environmental and Safety Measures - Environmental protection measures are crucial as the company operates in a pollution-prone industry, requiring continuous investment to meet increasing national standards[11]. - The company’s production involves hazardous chemicals, necessitating strict safety protocols to prevent accidents that could disrupt operations[10]. - The company has established comprehensive safety management systems to mitigate risks associated with the use of hazardous chemicals in production, ensuring operational safety[132]. - The company is committed to increasing environmental investments to meet rising national standards, aiming for sustainable and responsible production practices[133]. - The company did not face any major environmental penalties and is not classified as a key pollutant discharge unit[188]. Corporate Governance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring independent operation from its controlling shareholders[138]. - The board of directors consists of 5 members, including 2 independent directors, exceeding the requirement of one-third independent representation[141]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal standards[145]. - The company has a complete and independent business system for the research, production, and sales of plastic modifiers and rubber materials, free from competition with major shareholders[147]. Financial Management - The company has established a comprehensive internal control system that effectively mitigates operational risks and ensures compliance with regulations[181]. - There were no significant internal control deficiencies identified during the reporting period[184]. - The company has a capital reserve balance of 834,162,729.58 RMB, indicating a strong financial position[180]. - The company has no ongoing employee stock ownership plans or other incentive measures in place[180]. - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, by continuously improving its corporate governance structure and internal control systems[191]. Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[200]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[200]. - A strategic acquisition was announced, with the company acquiring a competitor for 500 million RMB to enhance its product portfolio[200]. - The company aims to launch three new products in 2022, which are expected to contribute an additional 200 million RMB in revenue[200]. - A commitment to environmental sustainability was reiterated, with plans to invest 100 million RMB in green technology initiatives[200].